Are the premises in a historically landmarked building?
• Request a copy of the most recent tax bill-Tenant should only pay its pro rata share of taxes. Is the electricity direct meter, sub-meter or included in rent?
Free rent–does the Lease reflect the deal between Landlord and Tenant?
• Assignment and sub-let should be allowed for (a) Tenant’s sale of
its business, (b) merger of its business, (c) Tenant goes public, (d)
assignment of its lease to a related entity or division. In a sublet or
an assignment, for a proposed deal, the Tenant should be
required to provide Landlord a term sheet of the material terms
and conditions and not a complete assignment or sublease.If the
Lease allows Landlord recapture in an assignment or sublet
situation, then the Lease should provide that if the Landlord elects
to recapture space, the Tenant may withdraw its request for an
assignment or sublet.
Is the electricity direct meter, sub-meter or included in rent?
Free rent–does the Lease reflect the deal between Landlord and Tenant?
• Assignment and sub-let should be allowed for (a) Tenant’s sale of its business, (b) merger of its business, (c) Tenant goes public, (d) assignment of its lease to a related entity or division. In a sublet or an assignment, for a proposed deal, the Tenant should be required to provide Landlord a term sheet of the material terms and conditions and not a complete assignment or sublease. If the Lease allows Landlord recapture in an assignment or sublet situation, then the Lease should provide that if the Landlord elects to recapture space, the Tenant may withdraw its request for an assignment or sublet.
• Non-structural alterations should be allowed as a matter of right by Tenant.
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