This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
Florida Conditional Limitation of Tenant Liability Good Guy Provision
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US-OL14035
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FAQ
In Florida, commercial landlords and tenants must abide by Florida Statutes § 83.001-83.251. Under these statutes, holdover tenancy arises when the tenant continues to occupy the premises without the landlord's consent. As a result, the holdover tenant is subject to eviction and may be liable for damages.
The undersigned hereby covenants and agrees that if there shall occur any default by Tenant in the payment of fixed rent or additional rent or any other charges set forth in the Lease, or if Tenant shall default in the performance of any of the covenants, terms, conditions and agreements contained in the Lease then the ...
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.
A typical good guy guarantee requires a creditworthy tenant (usually principal in the tenant's business) to guarantee the rent obligations under the lease through the date the tenant surrenders the leased space back the landlord. Good guy guarantees in lease agreements are personal guarantees that are limited.
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.
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.
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.
