Shopping Centre Lease Agreement

18. That the SECOND Contracting PARTY shall pay during the currency of this Agreement all taxes relating to water, electricity and light used in constructed buildings. If one of the establishments is separated for non-payment of invoices, the responsibility lies directly with the SECOND PARTY. Leasing contracts for shopping centres contain several important leasing provisions, such as: 33. If, at any time during the term of the sublease agreement, the FIRST party sells and/or transfers its inheritance rights on the expired premises in whole or in part to one person or more than one person, the SECOND PARTY will in that case go to that buyer or buyers under the same conditions as those contained in this contract; and the FIRST PARTY shall ensure that such prospective buyer or prospective buyer materializes under the terms of this Agreement. The lease agreement allows for assignment by the tenant to a third-party developer who builds the improvements and then leases the improved premises to the tenant, subject to inheritance law. The tenant may require that the lease include a “renewal option” clause that provides the opportunity to remain in the room when the original lease ends. What is the date of the agreement? When will the lease come into effect? This lease is designed for the municipal shopping centre. He is pro-landlord in tone, and the minimum rent and rent percentage are indicated in the legends that indicate the store. The lease agreement contains a continuous operation clause, usual for leases with percentage leases in the retail trade. As has already been said in this document, an oral agreement is not worth the paper on which it is written. Therefore, all ancillary transactions, agreements or insurance concluded between the parties should be reduced to the letter.

As a general rule, the lease stipulates that there are no obligations, insurance or explicit or tacit guarantees, except those stipulated in the rental agreement. This lease is a pro-Tenant lease agreement under which the tenant builds the premises according to his standard store plans and pays the lessor both the minimum rent and the percentage of rent. If you, as a tenant, wish to give a guarantee to your financial institution, this must be linked to the terms of the rental agreement. If the tenant is a capital company, the tenant could avoid the assignment or sublease clause by simply transferring the company`s shares to the new third party. To avoid this loophole, the lessor usually has a clause in the lease agreement that states that in the event of a change of control of the rental business, this is considered an assignment. For example, the right of a seller to sell hot dogs at a football game – such a license is not exclusive. Hotels, pensions and car parks are some of the examples of interests that are licenses and not rental agreements. The lease agreement should be checked for clauses affecting the tenant. Some examples of the clauses and peculiarities that you should pay attention to are the following: the SECOND PARTY must settle these losses or claims directly with the parties concerned and, in any case, before the date of exit from the complex.