This office lease form states the conditions where the landlord agrees to perform certain work in the demised premises and the additional demised premises. Landlord shall, at the sole cost and expense of the landlord and subject to the limitations and provisions hereof, furnish and install, or cause to be furnished and installed in a good, first class and workmanlike manner, certain items of work.
Tennessee Alterations Clauses Model Approach
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US-OL12043
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Lease terms are the contract terms of a lease agreement between a lessee, usually the tenant, and a lessor, typically the landlord. The legal contract includes lease terms to establish the period of time by which the lease will last, contractual obligations, and more.
In property law, 'demise' means to transfer by lease. The phrase 'demised premises' generally refers to premises that have been transferred by lease, as opposed to the 'retained parts' which are not transferred but are retained by the landlord.
The alterations provision of a lease outlines the tenant's rights and obligations when undertaking any alteration work in the premises. In a lease for retail space, the landlord generally maintains responsibility for structural alterations that preserve the integrity of the building.
In most cases, the lease agreement will outline the terms of the renter's tenancy, including the length of time they're renting, the upfront fees they'll pay, the monthly rental amount, and the rules and regulations governing the property's use.
*To be valid, a lease must meet the same essential elements as any other contract: capacity to contract, legal objective, offer and acceptance, and consideration.
Leasing Condition means, with respect to any Property, (i) that such Property has been leased to an Eligible Tenant pursuant to an Eligible Lease, (ii) all leasing costs and commissions in respect thereof have been paid in full and (iii) the applicable Borrower has received the first monthly rent payment under the ...
A lease agreement is an arrangement between two parties ? lessor and lessee, by which the lessor allows the lessee the right to use a property owned or managed by the lessor for a specified period of time, in exchange for periodic payment of rentals. The agreement does not provide ownership rights to the lessee.