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Notes 3 Leasing Clauses

An assignment generally does not prohibit subleasing

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Unformatted text preview: rent abated if damage isn’t tenant’s fault Assignment Clause: a transfer by lessee of lessee’s entire estate in the property; prohibiting an assignment generally does not prohibit subleasing and vice versa Recapture Clause: a clause giving the lessor a percentage of profits above a fixed amount of rent; a clause granting the landlord a right to terminate the lease of tenant fails to realize minimum sales; clause allowing landlord to recapture a portion of the premises proposed by the tenant to be assigned or subleased. Aggressive recapture clause: allows recapture of entire premises even if only portion of space is proposed to be assigned or sublet by tenant  ­Setting Rent Levels:  ­rent is paid on rentable square feet due to loss factor; tenant must rent the amount of square feet needed + loss factor; only gets a portion of what...
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