This office lease form states that the Landlord shall not lease or sublease any other space in the building, during the term of the lease or any renewal to any party that can reasonably be deemed a competitor of Tenant.
Puerto Rico Provision Limiting Rights of Landlord to Lease Space in the Building to Tenant Competitors
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US-OL23011
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How to fill out Provision Limiting Rights Of Landlord To Lease Space In The Building To Tenant Competitors?
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FAQ
A rent escalation clause is a common provision in commercial lease agreements that allows for periodic rent increases over the lease term. The purpose of the clause is to adjust the rental rate to account for changes in market conditions, inflation, and the cost of living over time.
Build -Out: This happens when the space is already finished and may have been previously occupied by another tenant. The landlord may agree to remodel the unit ing to the needs of the tenant.
Use Clauses This clause defines how the tenant can and can't use the property they're leasing. The use clause may be very specific, so it's important that you read its terms carefully.
Ground lease. A lease of land only, on which the tenant usually owns a building or is required to build as specified in the lease. Such leases are usually long-term net leases; the tenant's rights and obligations continue until the lease expires or is terminated through default.
This can protect a landlord where a tenant is using the space for an unauthorized use. A clear use clause can also protect a tenant if the landlord's actions prevent, or substantially interfere with, the tenant's possession, use, and enjoyment of the premises for the purposes for which they were leased.
The attornment clause requires tenants to acknowledge any new owner of the property as the landlord.
The Use Clause and Exclusive Clause Some landlords want to limit how you'll use the rented space. The limitations can be as broad as what business you'll conduct there, as narrow as what specific services or products you'll offer, or as nebulous as the quality level of your operation.
Commercial leases, particularly leases in retail shopping centers, often contain provisions (known as "use exclusives") that prevent the landlord from leasing space in the same mall, center, or area to a business that sells products or services similar to those sold by an existing tenant.
