This office lease clause lists a way to provide for variances between the rentable area of a "to be built" demised premises and the actual area after construction.
The Fulton Georgia Remeasurement Clause is a legal provision used when there are discrepancies between the rentable area and the actual area of a space to be built. This clause ensures fair and accurate measurements for commercial leases and helps to avoid disputes between landlords and tenants. When it comes to different types of Fulton Georgia Remeasurement Clauses used to address variances between rentable and actual areas, there are a few key variations: 1. Gross-Up Clause: This clause is commonly used when the rentable area includes common areas, such as hallways, lobbies, or restrooms. The gross-up clause adjusts the rentable area to account for these common areas, providing a fair measurement of the actual usable space available for the tenant. 2. Proportional Gross-Up Clause: In situations where multiple tenants share a common area, such as a building lobby, the proportional gross-up clause ensures that each tenant contributes to the rentable area of the common space proportionally to their actual occupancy. This clause helps avoid favoritism or undue burden on any particular tenant. 3. Expansion or Contraction Clause: When tenants have the option to expand or contract the leased premises during the lease term, this clause allows for adjustments in the rentable area based on the actual area occupied. This ensures that tenants pay fair rent based on the actual space they utilize. 4. Right of First Offer or Right of First Refusal Clause: In some cases, landlords may grant tenants the right to lease additional space in the building before offering it to other potential tenants. These clauses typically include a remeasurement provision that adjusts the rentable area accordingly if the tenant exercises their right to expand, ensuring fairness in rental payments. By incorporating these different types of Fulton Georgia Remeasurement Clauses into leases, landlords and tenants can establish clear guidelines and expectations regarding the measurement and subsequent rental payments for commercial spaces. Ultimately, these clauses contribute to a more transparent and equitable leasing process.The Fulton Georgia Remeasurement Clause is a legal provision used when there are discrepancies between the rentable area and the actual area of a space to be built. This clause ensures fair and accurate measurements for commercial leases and helps to avoid disputes between landlords and tenants. When it comes to different types of Fulton Georgia Remeasurement Clauses used to address variances between rentable and actual areas, there are a few key variations: 1. Gross-Up Clause: This clause is commonly used when the rentable area includes common areas, such as hallways, lobbies, or restrooms. The gross-up clause adjusts the rentable area to account for these common areas, providing a fair measurement of the actual usable space available for the tenant. 2. Proportional Gross-Up Clause: In situations where multiple tenants share a common area, such as a building lobby, the proportional gross-up clause ensures that each tenant contributes to the rentable area of the common space proportionally to their actual occupancy. This clause helps avoid favoritism or undue burden on any particular tenant. 3. Expansion or Contraction Clause: When tenants have the option to expand or contract the leased premises during the lease term, this clause allows for adjustments in the rentable area based on the actual area occupied. This ensures that tenants pay fair rent based on the actual space they utilize. 4. Right of First Offer or Right of First Refusal Clause: In some cases, landlords may grant tenants the right to lease additional space in the building before offering it to other potential tenants. These clauses typically include a remeasurement provision that adjusts the rentable area accordingly if the tenant exercises their right to expand, ensuring fairness in rental payments. By incorporating these different types of Fulton Georgia Remeasurement Clauses into leases, landlords and tenants can establish clear guidelines and expectations regarding the measurement and subsequent rental payments for commercial spaces. Ultimately, these clauses contribute to a more transparent and equitable leasing process.
