This office lease form states that the Landlord shall not lease or sublease any other space in the building, during the term of the lease or any renewal to any party that can reasonably be deemed a competitor of Tenant.
Virgin Islands Provision Limiting Rights of Landlord to Lease Space in the Building to Tenant Competitors
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US-OL23011
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FAQ
Estate for years aka tenancy for years. A leasehold estate for any specific period of time. An estate for years is not automatically renewed. Expiration is known in advance.
An estate from period to period (or periodic tenancy) is one which continues for periods of time (typically year-to-year, month-to-month, or week-to-week) as designated by landlord and tenant in their agreement. The most common periodic tenancy is the month-to-month tenancy.
Commercial leases, particularly leases in retail shopping centers, often contain provisions (known as "use exclusives") that prevent the landlord from leasing space in the same mall, center, or area to a business that sells products or services similar to those sold by an existing tenant.
Use Clauses This clause defines how the tenant can and can't use the property they're leasing. The use clause may be very specific, so it's important that you read its terms carefully.
Leasehold. Explanation: A lease defines the period of time during which the tenant has a right to occupy and enjoy a property. At the end of that period, The right reverts to the owner.
Leasehold interest The right held by the lessee or tenant to use and occupy real estate for a stated term and under the conditions specified in the lease.
In property law, the covenant of quiet enjoyment is an implied term in every lease that the tenant shall have quiet and peaceful possession of the leased premises against the lessor. The covenant ensures that the landlord is bound to refrain from action which interrupts the tenant's beneficial enjoyment.
