This office lease clause lists a way to provide for variances between the rentable area of a "to be built" demised premises and the actual area after construction.
This office lease clause lists a way to provide for variances between the rentable area of a "to be built" demised premises and the actual area after construction.
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A lessor is essentially someone who grants a lease to someone else. As such, a lessor is the owner of an asset that is leased under an agreement to a lessee. The lessee makes a one-time payment or a series of periodic payments to the lessor in return for the use of the asset.
When a tenant breaches a lease or improperly retains leased premises, the landlord may regain possession through a legal process known as actual eviction. Most lease terms require at least a 10-day notice in the case of default.
A material breach occurs when one party receives significantly less benefit or a significantly different result than what was specified in a contract. Material breaches can include a failure to perform the obligations laid out within a contract or a failure to perform contracted obligations on time.
When the lessee breaches the lease, it gives the lessor the right to proceed with: actual eviction by filling a suit for possession.
The right of the lessee to uninterrupted use of the leased premises is called. quiet enjoyment. Under the terms of a one year lease the. Tenant commits to pay a full years rent, even if he vacates the premises before the year expires. A written lease agreement is still legal even though it fails to include.