This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
Connecticut Conditional Limitation of Tenant Liability Good Guy Provision
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FAQ
If a tenant needs to vacate the premises due to fear of imminent harm to themselves or a dependent due to family violence or sexual assault, the tenant may give 30 days' written notice and terminate the lease without penalty (CS § 47a-11e).
A lease guarantee is a legal agreement between a landlord, a tenant, and a third party approved by the landlord. This third party is called a lease guarantor. Like a cosigner on a consumer loan, the lease guarantor agrees to be responsible if the tenant defaults on the rental agreement.
The good guy clause is a legal guarantee that maintains that if a tenant is unable to pay their rent, they will give their landlord notice, typically within three months, and vacate the space.
A typical good guy guarantee requires a creditworthy tenant (usually principal in the tenant's business) to guarantee the rent obligations under the lease through the date the tenant surrenders the leased space back the landlord. Good guy guarantees in lease agreements are personal guarantees that are limited.
The use of a Good Guy Clause allows a renter to be released from liability of the lease if a rental is terminated early, giving tenants less apprehension regarding signing a time bound lease, and satisfying the landlord's worries about reclaiming their space "in the same condition in which they would have been had the ...
A Good Guy Clause, (?GGC?) is a lease provision typically found in commercial leases that allows a landlord to release a tenant from liability in the event the tenant does not complete the lease period.
The undersigned hereby covenants and agrees that if there shall occur any default by Tenant in the payment of fixed rent or additional rent or any other charges set forth in the Lease, or if Tenant shall default in the performance of any of the covenants, terms, conditions and agreements contained in the Lease then the ...
A Good Guy Guaranty provision secures a commercial lease by ensuring that the landlord regains possession of the leased property on a specific date, with the leased property being surrendered to the landlord in the condition required under the lease.
