This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
The Suffolk New York Conditional Limitation of Tenant Liability Good Guy Provision, also known as the Good Guy Clause, is a legal protection provided to commercial tenants in the Suffolk County area of New York. This provision acts as a safeguard for tenants by limiting their liability in cases involving early lease termination. Under this provision, tenants who sign a lease agreement are allowed to terminate their lease early without facing significant financial repercussions, provided they meet certain conditions. The primary purpose of the Good Guy Clause is to incentivize tenants to vacate the premises in a timely manner, ensuring a smooth transition for both parties involved. Typically, this provision applies to commercial leases lasting for an extended period, such as several years. The tenant must act as a "Good Guy," meaning they must have stayed on good terms with the landlord and diligently paid their rent throughout the lease duration. This provision primarily benefits tenants who are experiencing financial difficulties or whose businesses are no longer viable. The most common type of Suffolk New York Conditional Limitation of Tenant Liability Good Guy Provision is the "Partial Liability" clause. Under this clause, tenants are allowed to terminate the lease early, with some financial responsibility for any rent owed up until the termination date. This liability is generally limited to a specific period, usually three to six months. Once this period is over, the tenant is relieved of any further financial obligations related to the lease. Another variation of this provision is the "Full Liability" clause. In this scenario, tenants are responsible for paying the entire rent until the lease's original expiration date, regardless of when they vacate the premises. This type of clause is less common and significantly increases the financial burden on tenants who wish to terminate their lease early. Overall, the Suffolk New York Conditional Limitation of Tenant Liability Good Guy Provision serves as a protective measure for commercial tenants, providing them with some flexibility and financial relief when faced with unforeseen circumstances or business challenges. It ensures that tenants who have honored their lease agreements and maintained a positive relationship with their landlords can exit their leases without incurring excessive financial liability. In summary, the Good Guy Clause is an essential component of commercial leasing in Suffolk County, New York, allowing tenants to have peace of mind and protection in case of early lease termination.The Suffolk New York Conditional Limitation of Tenant Liability Good Guy Provision, also known as the Good Guy Clause, is a legal protection provided to commercial tenants in the Suffolk County area of New York. This provision acts as a safeguard for tenants by limiting their liability in cases involving early lease termination. Under this provision, tenants who sign a lease agreement are allowed to terminate their lease early without facing significant financial repercussions, provided they meet certain conditions. The primary purpose of the Good Guy Clause is to incentivize tenants to vacate the premises in a timely manner, ensuring a smooth transition for both parties involved. Typically, this provision applies to commercial leases lasting for an extended period, such as several years. The tenant must act as a "Good Guy," meaning they must have stayed on good terms with the landlord and diligently paid their rent throughout the lease duration. This provision primarily benefits tenants who are experiencing financial difficulties or whose businesses are no longer viable. The most common type of Suffolk New York Conditional Limitation of Tenant Liability Good Guy Provision is the "Partial Liability" clause. Under this clause, tenants are allowed to terminate the lease early, with some financial responsibility for any rent owed up until the termination date. This liability is generally limited to a specific period, usually three to six months. Once this period is over, the tenant is relieved of any further financial obligations related to the lease. Another variation of this provision is the "Full Liability" clause. In this scenario, tenants are responsible for paying the entire rent until the lease's original expiration date, regardless of when they vacate the premises. This type of clause is less common and significantly increases the financial burden on tenants who wish to terminate their lease early. Overall, the Suffolk New York Conditional Limitation of Tenant Liability Good Guy Provision serves as a protective measure for commercial tenants, providing them with some flexibility and financial relief when faced with unforeseen circumstances or business challenges. It ensures that tenants who have honored their lease agreements and maintained a positive relationship with their landlords can exit their leases without incurring excessive financial liability. In summary, the Good Guy Clause is an essential component of commercial leasing in Suffolk County, New York, allowing tenants to have peace of mind and protection in case of early lease termination.
