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Expansion Space Delivery Failure Clause

Book Publication Date: Oct 2013
Description: At times, commercial tenants may want to expand their retail space. Landlords will not want delivery or failure of delivery of expansion space to have any effect on the original lease. The lease clause provided here gives the landlord significant leeway in delivering expansion space and states that a failure to deliver will not affect tenant's obligations under the original lease.
Type: Contract Clauses
PLI Item #: 60276
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"; "holdover tenant"; "holdover penalty"; reimbursement; "expansion space"; recission

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