This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.
Queens New York Expansion Option Clause
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Multi-State
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Queens
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US-OL24032
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The Use Clause and Exclusive Clause A use clause limits how you'll use the rented space. The limitations can be as broad as what business you'll conduct there, as narrow as what specific services or products you'll offer, or as nebulous as the quality level of your operation.
What Are Expansion Clauses? An expansion clause is something that can be negotiated into a commercial real estate lease that allows the tenant guaranteed or preferential rights to expand within the building or portfolio from which they are leasing.
Expansion Rights means any real or personal, tangible or intangible property rights (including collection rights, transmission rights, interconnection rights and rights to any operation and maintenance building or related facilities) necessary for the ownership, development, construction, operation or maintenance of
Intro - Escalation Clause in Your Commercial Lease. A commercial escalation clause is often included in most commercial real estate leases. This clause allows the landlord to increase the rate of your rent according to a specific timeline or as a result of certain triggers included in the clause.
The most important clause to landlords is the duty of the tenant to pay the rent in full and on time. This includes the right to charge a fee for damages if payment is late. Other important clauses grant the landlord the right to enforce the rules and regulations written into the lease.
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.
A relocation clause gives a landlord the right to move your business to an alternate space within the building or complex.
In terms of commercial real estate, expansion options provide tenants with the choice to add more space to their rented premises. Typically, this would apply to an office space or retail location where the tenants seek to expand into an adjoining space.
Addendums can also be used to add additional provisions or modifications to a lease agreement after the lease has been signed, instead of executing a new agreement. Most lease agreements will state that addendums are allowed, legally binding, and subject to the same provisions within the lease agreement.
Option clauses, also known as renewal terms, are provisions in a commercial lease agreement that allow a tenant to extend the term of the lease for an additional term after the initial term has expired.
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The court will consider the clause in the context of the agreement as a whole. In the early 1970s, Forest Hills, Queens, became a national symbol of white, middle class resistance to integration.If this document does not open for you in the browser, please Download the document to your computer and open it with an Adobe Acrobat program. Please click the title of each section to expand for the full details of. 01 who is qualified and able, as. Preliminary Proposal to Expand the Don Valley Parkway. (City Council on October 2, 3 and 4, 2001, deferred consideration of this Clause to the next. Queen Esther got her first standing O in 2,500 years. The application process comes under federal purview, state minister Fatimah Abdullah tells assembly. Expansion of the market in the 1920s and 1930s .