This office lease clause lists a way to provide for variances between the rentable area of a "to be built" demised premises and the actual area after construction.
The Oklahoma Remeasurement Clause is a legal provision used in real estate contracts to address discrepancies between the rentable and actual area of a space to be built. When constructing a property, it is common for variations to occur between the measurements stated in the lease agreement and the actual size of the premises. The inclusion of a Remeasurement Clause helps resolve these differences and establish fair terms between the landlord and the tenant. This clause allows either the landlord or the tenant to request a remeasurement of the space once the construction is complete. The purpose is to determine the accurate size of the premises and adjust the rental terms accordingly. The clause defines the specific procedures to be followed, including the timeframe for requesting a remeasurement, the method to be used in determining the area, and how any variances will be resolved. One type of Oklahoma Remeasurement Clause is the "Contiguous Space Remeasurement Clause." This clause is used when multiple contiguous spaces are being leased by the same tenant. In this case, the clause allows the tenant to request a remeasurement of the combined area to ensure accurate rent calculations. The clause also outlines the process for resolving any discrepancies found during the remeasurement. Another type of Remeasurement Clause used in Oklahoma is the "Vertical Penetration Remeasurement Clause." This clause addresses situations where the premises consist of multiple floors or levels. It allows either the landlord or the tenant to request a remeasurement of the entire vertical space. This ensures that the rent is fairly determined based on the actual area occupied by the tenant, taking into account any vertical variances. It is important to note that the specifics of the Remeasurement Clause can vary between lease agreements and depend on negotiation between the parties involved. Property owners and tenants should carefully review and understand the clause to prevent any disputes or misunderstandings related to the size and rental calculations of the space being leased. Overall, the Oklahoma Remeasurement Clause serves as a valuable tool to resolve discrepancies between the rentable and actual area of a space being constructed. It offers a fair and systematic approach to determine accurate measurements and establish appropriate lease terms.
The Oklahoma Remeasurement Clause is a legal provision used in real estate contracts to address discrepancies between the rentable and actual area of a space to be built. When constructing a property, it is common for variations to occur between the measurements stated in the lease agreement and the actual size of the premises. The inclusion of a Remeasurement Clause helps resolve these differences and establish fair terms between the landlord and the tenant. This clause allows either the landlord or the tenant to request a remeasurement of the space once the construction is complete. The purpose is to determine the accurate size of the premises and adjust the rental terms accordingly. The clause defines the specific procedures to be followed, including the timeframe for requesting a remeasurement, the method to be used in determining the area, and how any variances will be resolved. One type of Oklahoma Remeasurement Clause is the "Contiguous Space Remeasurement Clause." This clause is used when multiple contiguous spaces are being leased by the same tenant. In this case, the clause allows the tenant to request a remeasurement of the combined area to ensure accurate rent calculations. The clause also outlines the process for resolving any discrepancies found during the remeasurement. Another type of Remeasurement Clause used in Oklahoma is the "Vertical Penetration Remeasurement Clause." This clause addresses situations where the premises consist of multiple floors or levels. It allows either the landlord or the tenant to request a remeasurement of the entire vertical space. This ensures that the rent is fairly determined based on the actual area occupied by the tenant, taking into account any vertical variances. It is important to note that the specifics of the Remeasurement Clause can vary between lease agreements and depend on negotiation between the parties involved. Property owners and tenants should carefully review and understand the clause to prevent any disputes or misunderstandings related to the size and rental calculations of the space being leased. Overall, the Oklahoma Remeasurement Clause serves as a valuable tool to resolve discrepancies between the rentable and actual area of a space being constructed. It offers a fair and systematic approach to determine accurate measurements and establish appropriate lease terms.
