This office lease clause is a fairly aggressive clause dealing with reentry and continuing access to the demised premises. This form covers several practical issues.
This office lease clause is a fairly aggressive clause dealing with reentry and continuing access to the demised premises. This form covers several practical issues.
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Demise clauses state that if the "carrier" is not the owner of the vessel or the demise charterer, it merely acts as agent for the vessel owner and has no liability at all as a carrier albeit that it may have issued the only bill of lading in relation to the goods.
The term demised premises means the space or the property let to a tenant under a lease agreement. In the context of leasehold property ownership, it means the property owned by the leaseholder. The word demise comes from the Latin verb dimittere, meaning to send away.
The Landlord, in consideration of the rents, covenants, agreements and conditions herein to be paid, observed and performed by the Tenant, hereby demises and leases to the Tenant the Premises for the Term and the Tenant hereby accepts such demise and lease.
Demise means transfer of property by a lease or will.
The demising clause establishes the precise square footage or the premises physical extent the tenant will lease from the landlord and the leases duration.