Sentences with phrase «term lease extension»

«Securing a long - term lease extension with Profil provides added stability to the building's leased rate, currently 100 percent, which significantly outpaces the local submarket,» he said in a statement.

Not exact matches

Chicago Park District officials are preparing to negotiate in earnest with the Chicago Bears for a Soldier Field lease extension, but they will not try to impose onerous terms on the team, General Supt. Forrest Claypool hinted Tuesday.

Following the intervention of Borough President Diaz, Barnes & Noble and Prestige Properties have agreed to a two - year extension of their current lease, averting the expected closure of the store in January, saving 50 jobs and allowing both companies more time to develop a long - term agreement.

Lease extension Allows you to extend the terms of your lease, with the same monthly payments.

These agreements will effectively extend a lease and sets forth all provisions surrounding the lease extension and any lease terms that will remain the same.

The Court of Appeal allowed the tenant's appeal on the apparently broad grounds that a lease could only be excluded from LTA 1954 if it was for a term of years certain and the words of extension in cl 1 of the lease in question, including any period of holding over or extension in the definition of «the term», meant that the lease did not create a term of years certain.

Rimmer LJ considered, at para 21, the alternative view that as at the date of the grant of the lease any purported extension was a matter of uncertainty and that the lease should be read as a grant of a term of years certain with the tenant entitled to vacate as of right on the expiry of that term.

Those involved in negotiating and drafting commercial leases which are intended to be excluded from LTA 1954 should therefore avoid using any words of extension in defining the term of the Lease.

Critical to the decision of the Court of Appeal was the wording of cl 1 of the lease which set out the term granted in the following way: «from and including 1 January 2003 to 28 September 2004 (hereinafter called «the term» which expression shall include any period of holding over or extension of it whether by statute or at common law or by agreement)...» Rimmer LJ, who gave the only substantive judgment in the case, referred to the words in brackets in this clause as «the words of extension».

Rimmer LJ summed up his reasoning at para 23 of his judgment saying: ``... I favour the view that [the words of extension] had the effect of defining the term as including any period of holding - over or extension... The lease created a tenancy for a term of years certain until 28 September 2004 plus, by the words of extension, any further period of holding - over or extension of it on one or other of the bases referred to... I can not see how a term of that nature can be regarded as a tenancy for a «term of years certain».

In Newham LBC v Thomas Van - Staden [2008] EWCA Civ 1414 the Court of Appeal recently held that «contracting out» was ineffective where a lease defined the term as a fixed period together with «any period of holding over or extension; whether by statute or at common law or by agreement».

If the lease extension is successfully obtained, you have the legal right to be granted a new lease with a term equal to the remainder of the term under your existing lease plus a further 90 years.

In broad terms, there are two elements that make up the compensation for lease extensions and enfranchisements:

In this case, note that it states «This Cosigner Agreement shall remain in full force and effect throughout the term of the lease period regardless of any extensions and / or changes in terms unless specified otherwise in writing by Landlord».

Sam's Club has 5.5 years remaining on its base lease term, with three five - year extension options remaining and a percentage rent increase clause tied to the store's gross sales.

Failure to sign a lease extension or renewal that contains materially the same terms as the current lease terms;

In a sale - leaseback deal, corporations sell real estate they own and then rent the properties back from the buyers under a long - term net lease — roughly 15 or 20 years — with extension options.