This office lease form describes the provision used when under certain circumstances, the landlord is unable to give possession of the demised premises on the date of the commencement of the term.
Chicago Illinois Standard Provision Used When Delivery of the Premises Is Delayed In commercial lease agreements within Chicago, Illinois, it is common for landlords and tenants to include a standard provision concerning the delivery of the premises. This provision serves to address the scenario where the delivery of the premises is delayed, protecting the rights and responsibilities of both parties involved. The purpose of such a provision is to outline specific steps and remedies that may be taken in the event of a delay, ensuring clarity and fairness in the lease agreement. There are various types of Chicago Illinois standard provisions that can be used when delivery of the premises is delayed. Some of these provisions may include: 1. Time for Delivery: This provision establishes a specific timeframe within which the landlord is obligated to deliver the premises to the tenant. It may state a definitive date or provide a reasonable period for delivery, ensuring that the tenant is not left waiting indefinitely. 2. Tenant's Remedies: This provision outlines the remedies available to the tenant if the landlord fails to deliver the premises within the agreed-upon timeframe. It may include options such as termination of the lease, seeking monetary compensation, or the right to occupy temporary alternative space at the landlord's expense. 3. Landlord's Obligations: This provision specifies the landlord's responsibilities in relation to the delivery of the premises. It may outline the actions the landlord must take to ensure timely delivery, such as completing necessary construction or repairs, obtaining necessary permits, or complying with legal requirements. 4. Force Mature: A force majeure provision may be included to address delays caused by unforeseen circumstances beyond the control of either party. This provision could cover events like natural disasters, government actions, or any other extraordinary events excusing the delay in delivery. 5. Rent Adjustment: In some cases, the lease agreement may include a provision that allows for an adjustment in rent if the delivery of the premises is delayed. This provision ensures that the tenant is not paying full rent for a space that they are unable to utilize as intended. It is important to note that the specific language and details of these provisions may vary depending on the individual lease agreement. Landlords and tenants should carefully review and negotiate these provisions to ensure their rights and interests are adequately protected. Seeking legal advice or consulting with a real estate professional familiar with Chicago's local laws and regulations is advisable to ensure the provisions accurately capture the expectations and requirements of both parties.Chicago Illinois Standard Provision Used When Delivery of the Premises Is Delayed In commercial lease agreements within Chicago, Illinois, it is common for landlords and tenants to include a standard provision concerning the delivery of the premises. This provision serves to address the scenario where the delivery of the premises is delayed, protecting the rights and responsibilities of both parties involved. The purpose of such a provision is to outline specific steps and remedies that may be taken in the event of a delay, ensuring clarity and fairness in the lease agreement. There are various types of Chicago Illinois standard provisions that can be used when delivery of the premises is delayed. Some of these provisions may include: 1. Time for Delivery: This provision establishes a specific timeframe within which the landlord is obligated to deliver the premises to the tenant. It may state a definitive date or provide a reasonable period for delivery, ensuring that the tenant is not left waiting indefinitely. 2. Tenant's Remedies: This provision outlines the remedies available to the tenant if the landlord fails to deliver the premises within the agreed-upon timeframe. It may include options such as termination of the lease, seeking monetary compensation, or the right to occupy temporary alternative space at the landlord's expense. 3. Landlord's Obligations: This provision specifies the landlord's responsibilities in relation to the delivery of the premises. It may outline the actions the landlord must take to ensure timely delivery, such as completing necessary construction or repairs, obtaining necessary permits, or complying with legal requirements. 4. Force Mature: A force majeure provision may be included to address delays caused by unforeseen circumstances beyond the control of either party. This provision could cover events like natural disasters, government actions, or any other extraordinary events excusing the delay in delivery. 5. Rent Adjustment: In some cases, the lease agreement may include a provision that allows for an adjustment in rent if the delivery of the premises is delayed. This provision ensures that the tenant is not paying full rent for a space that they are unable to utilize as intended. It is important to note that the specific language and details of these provisions may vary depending on the individual lease agreement. Landlords and tenants should carefully review and negotiate these provisions to ensure their rights and interests are adequately protected. Seeking legal advice or consulting with a real estate professional familiar with Chicago's local laws and regulations is advisable to ensure the provisions accurately capture the expectations and requirements of both parties.
