This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
Queens New York Pugh Clause is a legal provision that pertains to commercial real estate leases. This clause ensures that a tenant's right to terminate the lease upon the occurrence of specific events, known as "triggering events," is protected and clearly outlined. The purpose of the Queens New York Pugh Clause is to address situations where a tenant wishes to terminate the lease due to certain events, such as the forced sale or conveyance of the property by the landlord. By including this clause in the lease agreement, tenants can secure their rights and ensure that they are fairly compensated for any improvements or leasehold interests they may have made during their tenancy. The primary function of the Queens New York Pugh Clause is to define the tenant's rights to terminate the lease solely for the specific portion or portions of the property affected by the triggering event. This provision prevents the termination of the entire lease and gives the tenant the opportunity to continue leasing the unaffected portion(s) of the property. It's important to note that there are variations of the Pugh Clause in New York, and they may differ in language and application depending on the specific lease agreement. Some possible types of Queens New York Pugh Clause include: 1. Partial Termination Pugh Clause: This type explicitly states the tenant's right to terminate the lease as to the affected portion of the property, while allowing the lease to remain in effect for the unaffected portion(s). 2. Full Termination Pugh Clause: In contrast to the partial termination clause, this type permits the tenant to terminate the lease agreement entirely, including all portions of the property, if a triggering event occurs. 3. Compensation Pugh Clause: This clause aims to ensure that the tenant receives appropriate compensation for any improvements or leasehold interests they have made to the property, in the event of termination due to a triggering event. It's essential for both landlords and tenants in Queens, New York, to thoroughly understand the specific Pugh Clause included in their lease agreement. Seeking legal advice during the negotiation and drafting process is strongly recommended ensuring that the clause effectively safeguards the rights and interests of both parties.Queens New York Pugh Clause is a legal provision that pertains to commercial real estate leases. This clause ensures that a tenant's right to terminate the lease upon the occurrence of specific events, known as "triggering events," is protected and clearly outlined. The purpose of the Queens New York Pugh Clause is to address situations where a tenant wishes to terminate the lease due to certain events, such as the forced sale or conveyance of the property by the landlord. By including this clause in the lease agreement, tenants can secure their rights and ensure that they are fairly compensated for any improvements or leasehold interests they may have made during their tenancy. The primary function of the Queens New York Pugh Clause is to define the tenant's rights to terminate the lease solely for the specific portion or portions of the property affected by the triggering event. This provision prevents the termination of the entire lease and gives the tenant the opportunity to continue leasing the unaffected portion(s) of the property. It's important to note that there are variations of the Pugh Clause in New York, and they may differ in language and application depending on the specific lease agreement. Some possible types of Queens New York Pugh Clause include: 1. Partial Termination Pugh Clause: This type explicitly states the tenant's right to terminate the lease as to the affected portion of the property, while allowing the lease to remain in effect for the unaffected portion(s). 2. Full Termination Pugh Clause: In contrast to the partial termination clause, this type permits the tenant to terminate the lease agreement entirely, including all portions of the property, if a triggering event occurs. 3. Compensation Pugh Clause: This clause aims to ensure that the tenant receives appropriate compensation for any improvements or leasehold interests they have made to the property, in the event of termination due to a triggering event. It's essential for both landlords and tenants in Queens, New York, to thoroughly understand the specific Pugh Clause included in their lease agreement. Seeking legal advice during the negotiation and drafting process is strongly recommended ensuring that the clause effectively safeguards the rights and interests of both parties.
