This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Lease Provisions Relating to Brokers
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Multi-State
Control #:
US-OL29A07
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Word;
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FAQ
Lease provisions are usually described as "boilerplate," since many leases use standard language. Boilerplate language in a lease may include the terms of the lease, payment dates, and late fees, among others. But unusual issues sometimes crop up.
There are different kinds of lease arrangements. It makes sense to consider them all to see which is best suited to your business, your particular circumstances and the asset that you are acquiring. The three main types of leasing are finance leasing, operating leasing and contract hire.
Amount of rent, security deposit, other payments. Duration of agreement and renewal criteria. List of fittings, fixtures. Registration of agreement. Restrictions.
The Gross Lease. The gross lease tends to favor the tenant. The Net Lease. The net lease, however, tends to favor the landlord. The Modified Gross Lease.
10 Important Rental Lease Clauses. #1 Rent Liability. #2 Severability Clause. #3 Access to Premises. #4 Use of Premises. #5 Holding Over. #6 Sublet Rules. #7 Disturbance Clause.
The leasing broker will market the property for lease and negotiate lease terms with tenants. The broker is responsible for representing the landlord's interests and achieving the most favorable lease terms for the building owner.
A lease is automatically void when it is against the law, such as a lease for an illegal purpose. In other circumstances, like fraud or duress, a lease can be declared void at the request of one party but not the other.
The use clause in a lease tells you how you can utilize your space. It may restrict your lines of business, stipulate office hours that you must adhere to and place restrictions on advertising signage on the premises.
Financial Lease. Financial leasing is a contract involving payment over a longer period. Operating Lease. Leveraged and non-leveraged leases. Conveyance type lease. Sale and leaseback. Full and non pay-out lease. Specialized service lease. Net and non-net lease.
