This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.
New Jersey Expansion Option Clause
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US-OL24032
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FAQ
The expansion clause in commercial leases is a negotiable agreement between the landlord and tenant that permits the tenant an equitable right to expand within the building or property they are being leased.
Active Military Duty. ing to federal law, a tenant can break a lease early due to military duty. ... Early Termination Clause. ... Domestic or Sexual Violence. ... Uninhabitable Living Conditions. ... Tenant Death. ... Unenforceable or Voidable Lease. ... Landlord Harassment or Privacy. ... Mental or Physical Disability.
Notice to Terminate the Lease Most yearly leases require a 60 to 90 day notice from the tenants in order to terminate the lease. Tenants who have a written lease agreement must give written notice to terminate the lease in ance with their lease agreement.
The process of forfeiting a commercial lease typically involves serving a notice of forfeiture to the tenant. The notice must clearly state the breach and provide a reasonable period for the tenant to remedy the breach (if capable of remedy).
A break clause in a commercial lease is a contractual provision that allows either the landlord or the tenant to terminate the lease prematurely, usually before the end of the fixed term.
Lessee may request Lessor to expand the demised Premises into additional spaces/buildings/land. Lessor may, at its sole discretion, agree to allow Lessee to expand into such additional spaces/buildings/land.
So you may not have to pay much, if any additional rent, if you break your lease. You need pay only the amount of rent the landlord loses because you moved out early. This is because New Jersey requires landlords to take reasonable steps to keep their losses to a minimum?or to "mitigate damages" in legal terms.