This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
North Carolina Conditional Limitation of Tenant Liability Good Guy Provision
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US-OL14035
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FAQ
A good guy clause basically states that if a company defaults (for bankruptcy or any other reason), the individual that signed the good guy clause is responsible for the rent in between the default date and the surrender date (when the space is vacated).
A limitation of liability clause limits the amount and/or types of damages that may be attributable to a particular party under the contract for that party's future breach or misconduct while performing under the contract.
Guests do not have these rights, and guests who refuse to leave the property may be removed either by the police or through a trespass warrant issued by a magistrate.
Tenant's legal liability coverage is insurance for loss or damage of a property resulting from an action of a person renting space at that property. This insurance, when purchased by the tenant, pays for the cost of the loss or damage caused by the tenant.
The North Carolina Office of Administrative Hearings and the Fair Housing Act prohibit landlords from discriminating against potential tenants because of their race, religion, familial status, sex, gender, etc.
A limitation of liability clause in a contract limits the amount of money or damages that one party can recover from another party for breaches or performance failures. In other words, the clause can put a cap on the number of damages the organization will have to pay under certain circumstances.
You may have limits on your liability such as "Company will not be liable for more than $200 in the event of a breach," or "Company will not be liable for more than three times the yearly subscription fee."
A limitation of liability clause is a contractual provision that restricts the type and amount of liability that one party (the offending party) assumes when it directly or indirectly causes another party (the injured party) to experience losses in connection with their contractual relationship.
