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Delivery Failure Lease Clause

Book Publication Date: Oct 2013
Description: If a landlord fails to deliver premises to a commercial tenant in usable condition at the agreed upon date there should be provisions in the lease to deal with the situation. The sample lease clause included here covers possible remedies such as rent abatement, termination right, and provision of temporary premises by the landlord.
Type: Contract Clauses
PLI Item #: 60273
Practice Area: Banking and finance, Commercial real estate, Consumer finance, Environmental issues, Environmental law, Litigation, Mortgage loans, Real estate, Real estate litigation, Real estate transactions, Real property

Keywords: "real estate"; "commercial real estate"; landlord; tenant; premises; "failure of delivery"; improvements; "rent abatement"; "commencement date"; abatement; "termination right"; "temporary space"

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