This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
Michigan Conditional Limitation of Tenant Liability Good Guy Provision
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US-OL14035
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FAQ
You have the right to quiet enjoyment of your home. This means your landlord can't do anything that prevents you from having access to your home. Your landlord must not: Use force or threaten to use force to make you leave or keep you out of your home.
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.
554.134 Termination of estate at will or by sufferance or tenancy from year to year.
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.
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 ...
If Tenant shall perform all of the covenants and agreements herein required to be performed by Tenant, Tenant shall, subject to the terms of this Lease, at all times during the Lease Term, have peaceful and quiet enjoyment of the Premises against any person claiming by, through or under Landlord.
Entry. Advanced Notice: There is no state law in Michigan requiring landlords to give advance notice before entering a property. Permitted Times: Michigan state law does not designate any time-of-day restrictions for entering. Emergency Entry: There are no laws in Michigan regarding emergency entry without notice.
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.
