This office lease clause lists a way to provide for variances between the rentable area of a "to be built" demised premises and the actual area after construction.
Wyoming Remeasurement Clause Used When Variances Exist Between the Rentable and Actual Area of a Space to be Built
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US-OL706A
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FAQ
Another commercial lease, the percentage lease involves a fixed rental rate and a percentage of the profits of the business renting the premises. This allows for a lower rental rate, and potentially more money for the landlord if the lessee does well.
A Standard Clause defining the leased premises for a commercial real estate lease with language allowing the parties to remeasure the premises. A tenant's right to remeasure is generally a tenant-favorable concept, but this Standard Clause offers a landlord-friendly alternative for remeasurement.
Tenant's Premises . A portion of the first floor of the Building in ance with the floor plan attached hereto as Exhibit E and incorporated herein by reference.
100% Lease-up means that all Rental Units have been leased to income certified tenants and that leases have been completed and executed on or before a date to be agreed upon by the Owner and the Agent and specified in the Property Management Plan as set forth in Exhibit F.
Percentage leases are most often used with retail tenants. Multi-tenant retail properties, such as malls and shopping centers, use this type of lease because it benefits both parties involved.
Leased Premises means an area forming part of the Property, assigned to the LESSEE for its exclusive use under this Contract, per Lease Schedule.
