This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
The California Conditional Limitation of Tenant Liability Good Guy Provision is a legal protection that exists in California's commercial lease agreements. This provision benefits commercial tenants by providing them with certain rights and limitations during lease termination. In essence, the Good Guy Provision allows tenants who meet specific criteria to limit their potential liability when terminating a lease early. This provision is particularly relevant for tenants who wish to avoid personal liability for rent payments after vacating the premises before the lease term ends. The Good Guy Provision typically applies to commercial leases for a fixed term, usually ranging from two to five years. To activate this provision, the tenant must provide the landlord with a written notice of their intent to terminate the lease before a specified period, often referred to as the "Good Guy Notice Period." This notice period is typically 90 days, allowing the landlord sufficient time to find a replacement tenant. Once the notice is given, the tenant remains liable for rent payments until the premises are either re-let or the lease term expires, whichever occurs first. However, the tenant's personal liability for rent payments ends on the earlier of these two events. This means that if the landlord is unable to re-let the premises within the notice period, the tenant is essentially released from further rent obligations. It is important to note that the Good Guy Provision is not applicable in all lease agreements. It is typically negotiated between commercial tenants and landlords during lease negotiations. Additionally, the provision may vary between lease agreements, with some including additional conditions or modifications specific to the parties involved. In summary, the California Conditional Limitation of Tenant Liability Good Guy Provision is a protective measure for commercial tenants looking to terminate a lease before its designated end date. By providing a clear timeline for notice and eradicating personal liability for rent payment after certain conditions are met, this provision offers added security to tenants in the ever-changing commercial real estate market. Different types or variations of the California Conditional Limitation of Tenant Liability Good Guy Provision may include specific conditions related to early termination, notice periods, or the responsibility of the landlord to actively seek a replacement tenant within the specified period. Each lease agreement may have its own unique terms and conditions, making it crucial for tenants to carefully review and negotiate the Good Guy Provision to suit their specific needs.The California Conditional Limitation of Tenant Liability Good Guy Provision is a legal protection that exists in California's commercial lease agreements. This provision benefits commercial tenants by providing them with certain rights and limitations during lease termination. In essence, the Good Guy Provision allows tenants who meet specific criteria to limit their potential liability when terminating a lease early. This provision is particularly relevant for tenants who wish to avoid personal liability for rent payments after vacating the premises before the lease term ends. The Good Guy Provision typically applies to commercial leases for a fixed term, usually ranging from two to five years. To activate this provision, the tenant must provide the landlord with a written notice of their intent to terminate the lease before a specified period, often referred to as the "Good Guy Notice Period." This notice period is typically 90 days, allowing the landlord sufficient time to find a replacement tenant. Once the notice is given, the tenant remains liable for rent payments until the premises are either re-let or the lease term expires, whichever occurs first. However, the tenant's personal liability for rent payments ends on the earlier of these two events. This means that if the landlord is unable to re-let the premises within the notice period, the tenant is essentially released from further rent obligations. It is important to note that the Good Guy Provision is not applicable in all lease agreements. It is typically negotiated between commercial tenants and landlords during lease negotiations. Additionally, the provision may vary between lease agreements, with some including additional conditions or modifications specific to the parties involved. In summary, the California Conditional Limitation of Tenant Liability Good Guy Provision is a protective measure for commercial tenants looking to terminate a lease before its designated end date. By providing a clear timeline for notice and eradicating personal liability for rent payment after certain conditions are met, this provision offers added security to tenants in the ever-changing commercial real estate market. Different types or variations of the California Conditional Limitation of Tenant Liability Good Guy Provision may include specific conditions related to early termination, notice periods, or the responsibility of the landlord to actively seek a replacement tenant within the specified period. Each lease agreement may have its own unique terms and conditions, making it crucial for tenants to carefully review and negotiate the Good Guy Provision to suit their specific needs.
