This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
New Hampshire Conditional Limitation of Tenant Liability Good Guy Provision is a specific legal provision that aims to protect commercial tenants from excessive financial liability in certain lease agreements. This provision is commonly used in lease contracts for retail or commercial spaces in New Hampshire. When it comes to liability, landlords usually require tenants to assume full financial responsibility for the entire lease term, even if they vacate the premises before the lease period ends. However, the Conditional Limitation of Tenant Liability Good Guy Provision offers a measure of relief for tenants who wish to terminate their lease early, under specific conditions. Here are two different types of the New Hampshire Conditional Limitation of Tenant Liability Good Guy Provision: 1. Limited Liability provision: Under this provision, if a tenant fulfills certain conditions defined in the lease agreement, their financial liability will be partially or fully limited. The conditions typically include notifying the landlord a specific period in advance and ensuring the premises are in good condition upon move-out. If these conditions are met, the tenant's liability for rent will be limited, helping to reduce financial burdens. 2. Good Guy Guarantee provision: This provision is commonly referred to as a "Good Guy Clause" and is designed to provide both landlords and tenants more flexibility. It allows tenants to vacate the premises before the lease term expires without facing substantial penalties. To benefit from this provision, the tenant must provide a pre-determined notice period to the landlord, generally three to six months in advance, indicating their intent to terminate the lease. In return, the tenant will have their financial liability limited, ensuring they are not held accountable for the entire remaining lease duration or excessive penalties. In summary, the New Hampshire Conditional Limitation of Tenant Liability Good Guy Provision is an essential safeguard for commercial tenants in the state. By including either a limited liability provision or a Good Guy Guarantee provision in their lease agreements, tenants can potentially avoid extensive financial burdens and have more flexibility in terminating their lease agreements under specified conditions.
