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A surety contract is a legally binding agreement that the signee will accept responsibility for another individual's contractual obligations, usually the payment of a loan if the principal borrower falls behind or defaults.
Substitution Lease means a lease of the Substitute Premises on the same terms and conditions as this Lease with respect to the Withdrawn Premises, including, without limitation, the same rental terms with respect to the Withdrawn Premises, for the remaining term of the Lease (including all remaining renewal terms
If the lease is silent on assignments, the tenant is free to assign without the landlord's consent.
In any standard lease agreement, including those in California, there are basic requirements, such as a description of the property, the rental amount, duration of the rental period, payment due dates, any deposits or fees, condition of the property at the beginning of the lease, maintenance expectations, and how the
This standard document grants a lease of additional property (often called a supplemental lease) where a tenant already has an existing lease and wants to take a lease of additional premises. It incorporates the clauses of the existing lease by reference which avoids repeating each individual clause.
Lease Obligation means an obligation of a lessee under a lease of any tangible or intangible property (whether real, personal or mixed) including, without limitation, with respect to any period under any such lease, the aggregate amounts payable by such lessee to or on behalf of the lessor for such period, including,
Related Content. A lease that takes effect when an existing lease has expired. However, the expression "reversionary lease" is also used to mean any lease where possession is delayed to a future date.
A deed of suretyship is an agreement that is concluded by a creditor and a third party. The essentialia of this type of agreement are that the surety (third party) undertakes to be liable to the creditor for the due performance by the debtor of his or her obligations in terms of the principal debt.
A sublease consent form allows a current tenant under a lease to document a landlord's approval of subletting the property the tenant is renting to a subtenant.
Misconception #11: Surety bonds are refundable.Typically, surety bonds are not refundable. Once a surety bond is issued, the premium is nonrefundable, regardless of time in effect. Surety companies and agencies do not prorate premium refunds.