A Master Lease Agreement between Corporation and another Party is a legal document which outlines the terms and conditions of the leasing of property from a corporation to another party. This type of agreement is often used when a corporation leases property to a tenant, such as a retail store, office, or industrial complex. The agreement sets out the terms for the duration of the lease, the rental payments, and the obligations of both parties. It also outlines the conditions for any extensions of the lease, termination of the lease, or any changes to the agreement. There are two main types of Master Lease Agreement between Corporation and another Party: 1. Triple Net (NNN) Lease Agreement: This type of agreement requires the tenant to pay rent, property taxes, insurance, and maintenance costs. 2. Gross Lease Agreement: This type of agreement requires the tenant to only pay rent, and the corporation is responsible for the other expenses mentioned above. Both types of lease agreements contain provisions that outline the rights and responsibilities of both parties, including details about the payment of rent, termination of the lease, and other conditions.
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