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.
Delaware Remeasurement Clause Used When Variances Exist Between the Rentable and Actual Area of a Space to be Built
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For instance, if the monthly rent is $1,500, and the landlord and tenant agree that 5% of sales go to the landlord, then you would divide $1,500 by 5%, which means the break-even point would amount to $30,000.
Tenant's Premises . A portion of the first floor of the Building in ance with the floor plan attached hereto as Exhibit E and incorporated herein by reference.
A Standard Clause defining the leased premises for a commercial real estate lease with language allowing the parties to remeasure the premises. A tenant's right to remeasure is generally a tenant-favorable concept, but this Standard Clause offers a landlord-friendly alternative for remeasurement.
Leased Premises means an area forming part of the Property, assigned to the LESSEE for its exclusive use under this Contract, per Lease Schedule.
A fixed lease is a rental agreement where a tenant rents a property for a specific time. In a fixed lease, the lessor cannot increase rent prices or change any lease terms. This is the opposite of a variable lease, where the base rent changes periodically.
The answer is actual eviction by filing a suit for possession. If the tenant breaches the lease, the landlord would start eviction procedures known as actual or judicial eviction.
