This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
Texas Conditional Limitation of Tenant Liability Good Guy Provision
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FAQ
Lockouts: Your landlord can lock you out for nonpayment of rent or for abandoning the property. If the lockout is for nonpayment, the landlord must post a written notice on the front door with contact information for the person or company who can provide a new key during normal business hours.
A Good Guy Guaranty provision secures a commercial lease by ensuring that the landlord regains possession of the leased property on a specific date, with the leased property being surrendered to the landlord in the condition required under the lease.
Basically, this is what the "good guy" does: Pays all rent obligations to landlord up and until the surrender date of the premises. Delivers the premises in "broom-clean" condition and. Removed all possessions and rubbish from the premises when moving.
A good guy clause, typically found in rental agreements in New York City, is a provision that allows a tenant to be released from the liability of completing the agreed upon rental period, assuming the tenant vacates the rented space and leaves it in favorable condition.
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.
(e) A landlord may remove and store any property of a tenant that remains on premises that are abandoned. In addition to the landlord's other rights, the landlord may dispose of the stored property if the tenant does not claim the property within 60 days after the date the property is stored.
The good guy clause is a legal guarantee that maintains that if a tenant is unable to pay their rent, they will give their landlord notice, typically within three months, and vacate the space. Additionally, as part of the clause, the tenant will pay all their owed fees up until the day they leave.
