This office lease form describes the provision used when under certain circumstances, the landlord is unable to give possession of the demised premises on the date of the commencement of the term.
The Oklahoma Standard Provision is a legal clause used in leases or rental agreements when there is a delay in the delivery of the premises to the tenant. This provision outlines the rights and remedies available to both the landlord and the tenant in such situations. It is important to understand the different types of Oklahoma Standard Provisions used when delivery of the premises is delayed, as they may vary based on the specific terms included in the lease agreement. One common type of Oklahoma Standard Provision used when delivery of the premises is delayed is the "Limited Remedies" provision. This provision states that if the landlord is unable to deliver the premises to the tenant on the agreed-upon date, the tenant's sole remedy is to terminate the lease agreement and receive a refund of any prepaid rent or deposits. This provision may also specify a timeframe within which the landlord must notify the tenant of the delay and offer the remedy. Another type of Oklahoma Standard Provision used in such scenarios is the "Extension of Lease Term" provision. This provision allows for an automatic extension of the lease term equal to the length of the delay in delivery. For example, if the delivery of the premises is delayed by two weeks, the lease term will be extended by an additional two weeks. This provision ensures that the tenant still receives the full amount of time they contracted for. Additionally, the "Rent Abatement" provision may be included in the Oklahoma Standard Provision when delivery of the premises is delayed. This provision allows the tenant to withhold or reduce rent payments for the period of delay, compensating for the inconvenience caused by the late delivery. It may specify a percentage by which the rent can be abated or outline the conditions that must be met to exercise this right. Furthermore, the "Alternative Accommodation" provision is used when the delay in delivery makes the premises uninhabitable for a period of time. This provision obligates the landlord to provide the tenant with alternative accommodations until the original premises are ready for occupancy. It lays out the terms and conditions under which the tenant can exercise this right, such as the maximum cost the landlord will cover or the type of accommodation that will be provided as a substitute. Overall, the Oklahoma Standard Provision used when delivery of the premises is delayed serves to provide clarity and protection for both landlords and tenants in unforeseen circumstances. It is essential for both parties to thoroughly review and understand the specific provisions included in their lease agreement to ensure a fair and mutually beneficial resolution in cases of delayed delivery.
