Oklahoma Percentage Shopping Center Lease Agreement

• Category: Landlord Tenant - Commercial Leases - Shopping Centers
• State: Multi-State
• Control #: US-01626
• Format: Word; Rich Text

Description

This form is for the lease of property to be used as a shopping center. The landlord warrants that the demised premises may be used, but not limited to such use, by tenant, among others, for the conduct of a mercantile business of the type and kind known as a variety store, discount store, dollar store or variety discount store. Oklahoma Percentage Shopping Center Lease Agreement is a legal contract that outlines the terms and conditions related to leasing a retail space within a shopping center in the state of Oklahoma. This agreement is specifically designed for businesses who operate on a percentage rent basis, where the tenant pays a portion of their monthly sales as rent, in addition to a fixed base rent. The Oklahoma Percentage Shopping Center Lease Agreement covers various important aspects to protect the rights and interests of both the landlord and the tenant. It typically includes provisions related to the leased premises, rent, term of the lease, permitted use of the space, maintenance responsibilities, insurance requirements, improvements and alterations, default and remedies, and any additional clauses specific to the shopping center. There are various types of Oklahoma Percentage Shopping Center Lease Agreements, each catering to specific needs and circumstances. Some common types include: 1. Standard Percentage Lease: This is the most basic type of agreement where the tenant pays a percentage of their sales as rent, along with a fixed base rent. The percentage may vary based on the product or service offered by the tenant. 2. Graduated Percentage Lease: In this type of lease, the percentage of rent increases over time as the tenant's business grows or reaches certain sales milestones. This allows the tenant to have lower rent initially and pay more than their business becomes more successful. 3. Minimum Percentage Lease: A minimum percentage lease ensures that the tenant pays a minimum amount of rent, regardless of their sales. This provides a sense of stability for the landlord while allowing the tenant to benefit from a percentage-based rent structure. 4. Overage Percentage Lease: Overage percentage lease agreements allow the landlord to receive additional rent (overage) if the tenant's sales exceed a predetermined threshold. The overage percentage is typically higher than the regular percentage, providing an incentive for both the landlord and tenant. 5. Combination Lease: A combination lease combines multiple elements from different types of leases. For instance, it may include a graduated percentage structure with a minimum rent requirement. Oklahoma Percentage Shopping Center Lease Agreements are crucial documents for both landlords and tenants as they establish the legal rights and responsibilities of each party. It is essential to consult with a legal professional to ensure that the agreement properly reflects the specific needs and requirements of the shopping center and the tenant.

Oklahoma Percentage Shopping Center Lease Agreement is a legal contract that outlines the terms and conditions related to leasing a retail space within a shopping center in the state of Oklahoma. This agreement is specifically designed for businesses who operate on a percentage rent basis, where the tenant pays a portion of their monthly sales as rent, in addition to a fixed base rent. The Oklahoma Percentage Shopping Center Lease Agreement covers various important aspects to protect the rights and interests of both the landlord and the tenant. It typically includes provisions related to the leased premises, rent, term of the lease, permitted use of the space, maintenance responsibilities, insurance requirements, improvements and alterations, default and remedies, and any additional clauses specific to the shopping center. There are various types of Oklahoma Percentage Shopping Center Lease Agreements, each catering to specific needs and circumstances. Some common types include: 1. Standard Percentage Lease: This is the most basic type of agreement where the tenant pays a percentage of their sales as rent, along with a fixed base rent. The percentage may vary based on the product or service offered by the tenant. 2. Graduated Percentage Lease: In this type of lease, the percentage of rent increases over time as the tenant's business grows or reaches certain sales milestones. This allows the tenant to have lower rent initially and pay more than their business becomes more successful. 3. Minimum Percentage Lease: A minimum percentage lease ensures that the tenant pays a minimum amount of rent, regardless of their sales. This provides a sense of stability for the landlord while allowing the tenant to benefit from a percentage-based rent structure. 4. Overage Percentage Lease: Overage percentage lease agreements allow the landlord to receive additional rent (overage) if the tenant's sales exceed a predetermined threshold. The overage percentage is typically higher than the regular percentage, providing an incentive for both the landlord and tenant. 5. Combination Lease: A combination lease combines multiple elements from different types of leases. For instance, it may include a graduated percentage structure with a minimum rent requirement. Oklahoma Percentage Shopping Center Lease Agreements are crucial documents for both landlords and tenants as they establish the legal rights and responsibilities of each party. It is essential to consult with a legal professional to ensure that the agreement properly reflects the specific needs and requirements of the shopping center and the tenant.