New Hampshire Conditional Limitation of Tenant Liability Good Guy Provision

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US-OL14035
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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.

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2. Scope: The scope of a good guy guarantee is typically limited to unpaid rent and damages that occur before the tenant vacates the property. In contrast, the scope of a personal guarantee is broader and covers all aspects of the lease agreement, including rent payments, damages, and other obligations.

Negotiating limitation of liability clauses requires a comprehensive understanding of each party's risk exposure and a careful balance between risk allocation and maintaining a mutually beneficial agreement.

A limitation of liability clause serves to limit the amount and types of compensation one party can recover from the other party. It caps the liability incurred by one party and reduces the risk of a claim by the other party.

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.

Generally, these clauses are enforceable. Parties can generally exclude their liability for certain acts or types of damages, as Linda explained.

A landlord often includes an exculpation clause to limit its liability under the lease to the landlord's interest in the property. A pro-landlord lease may also disclaim any landlord liability except for cases of the landlord's gross negligence or willful misconduct.

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.

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."

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This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated. Related forms. Add the Conditional Limitation of Tenant Liability Good Guy Provision for editing. Click the New Document option above, then drag and drop the file to the ...... the following: All work, whether undertaken as the Landlord's or Tenant's responsibility, shall be performed in a good workmanlike manner, and when ... 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 ... (a) Guarantor absolutely, unconditionally and irrevocably guarantees, as a primary obligor and not merely as a surety: (i) the full and prompt payment of all ... by JM Cunningham · 2010 — majority members have a duty to the minority members under the implied contrac- tual covenant of good faith and fair dealing as in effect under New Hampshire. (4) agrees to the exculpation or limitation of any liability of the landlord arising under law or to indemnify the landlord for that liability or the costs. Waive or limit the tenant's right to summon or any other person's right to summon a ... provisions available to the tenant, may file suit against the tenant for. A good guy clause is a limited personal guarantee on an office lease where the individual's liability ends once the space is vacated. Aug 29, 2020 — The key here is that a 'good guy' guarantee is conditional. As long as the Tenant vacates the Premises and is current through the notice period ...

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New Hampshire Conditional Limitation of Tenant Liability Good Guy Provision