This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
Los Angeles California Conditional Limitation of Tenant Liability Good Guy Provision is a legal provision that offers some form of protection to commercial tenants in certain situations. It is an agreement between a landlord and a tenant to limit the tenant's liability for paying rent or other related charges under specific circumstances. This provision is primarily designed to benefit tenants who face financial difficulties due to unforeseen events or circumstances beyond their control. The Los Angeles California Conditional Limitation of Tenant Liability Good Guy Provision typically comes into play when a tenant is unable to continue operating their business due to the financial burden on them. It allows them to surrender the leased premises with a reduced liability for unpaid rent, without facing legal consequences or a significant financial burden. The provision may include a few variations based on the specific agreements negotiated between the tenant and the landlord. Some different types of Los Angeles California Conditional Limitation of Tenant Liability Good Guy Provisions include: 1. Standard Good Guy Provision: This is the most common type, where the tenant provides advance notice of their intention to terminate the lease, pays rent up until the termination date, and surrenders the premises in good condition. In return, the tenant's liability for unpaid rent is limited to a specific period, typically ranging from one to three months. 2. Modified Good Guy Provision: This type of provision incorporates additional conditions beyond the standard agreement. It might involve the tenant fulfilling certain obligations before their liability is limited, such as finding a replacement tenant or cooperating with lease assignments. These conditions are agreed upon during negotiations and are essential for the provision to be applicable. 3. Extended Good Guy Provision: In some cases, a tenant may negotiate to extend the period for which their liability is limited beyond the typical one to three months. This can provide extra time for the tenant to wind down their business, find alternative arrangements, or recover financially without a substantial financial burden. Overall, the Los Angeles California Conditional Limitation of Tenant Liability Good Guy Provision offers a degree of protection and flexibility for tenants facing unforeseen financial challenges or business closures. It reduces the potential legal and financial risks associated with early lease termination, allowing tenants to gracefully exit their lease agreements without incurring excessive liability for unpaid rent and associated charges.Los Angeles California Conditional Limitation of Tenant Liability Good Guy Provision is a legal provision that offers some form of protection to commercial tenants in certain situations. It is an agreement between a landlord and a tenant to limit the tenant's liability for paying rent or other related charges under specific circumstances. This provision is primarily designed to benefit tenants who face financial difficulties due to unforeseen events or circumstances beyond their control. The Los Angeles California Conditional Limitation of Tenant Liability Good Guy Provision typically comes into play when a tenant is unable to continue operating their business due to the financial burden on them. It allows them to surrender the leased premises with a reduced liability for unpaid rent, without facing legal consequences or a significant financial burden. The provision may include a few variations based on the specific agreements negotiated between the tenant and the landlord. Some different types of Los Angeles California Conditional Limitation of Tenant Liability Good Guy Provisions include: 1. Standard Good Guy Provision: This is the most common type, where the tenant provides advance notice of their intention to terminate the lease, pays rent up until the termination date, and surrenders the premises in good condition. In return, the tenant's liability for unpaid rent is limited to a specific period, typically ranging from one to three months. 2. Modified Good Guy Provision: This type of provision incorporates additional conditions beyond the standard agreement. It might involve the tenant fulfilling certain obligations before their liability is limited, such as finding a replacement tenant or cooperating with lease assignments. These conditions are agreed upon during negotiations and are essential for the provision to be applicable. 3. Extended Good Guy Provision: In some cases, a tenant may negotiate to extend the period for which their liability is limited beyond the typical one to three months. This can provide extra time for the tenant to wind down their business, find alternative arrangements, or recover financially without a substantial financial burden. Overall, the Los Angeles California Conditional Limitation of Tenant Liability Good Guy Provision offers a degree of protection and flexibility for tenants facing unforeseen financial challenges or business closures. It reduces the potential legal and financial risks associated with early lease termination, allowing tenants to gracefully exit their lease agreements without incurring excessive liability for unpaid rent and associated charges.
