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TopicLetter of Intent ("LOI")
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Land Lease: See “Ground Lease.” Landlord Approval | Landlord Consent: A situation in which a tenant must get the permission of landlord before proceeding with its course of action. Generally, situations…

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Partial Lien Waiver: A document executed by a contractor or subcontractor notifying not only the party making payment to the contractor or subcontractor but also to the property owner, bank,…

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Renewal Option

Tenant or Tenant’s parent, affiliate, subsidiary or permitted assignee or subtenant shall have the right to renew this Lease (“Renewal Option”) at its option for two (2) additional terms of…

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Defining Operating Expenses

Typically, at their most basic level, operating expenses of a building include those attributable to: Ownership, management, maintenance and operating expenses Insurance premiums and deductibles Wages, salaries and benefits of…

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Miscellaneous Real Estate Tax Clause Tips

Business Improvement District Charges: As a straight pass-through, landlords should attempt to pass any business improvement district (“BID”) charges on to their tenant based on their proportion share of same.…

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