| Term | Definition |
|---|---|
| Acceleration |
A provision allowing the Landlord to request payment of all Base Rent and Additional Rent, which would become due during the remainder of the term, as a result of Tenant being in default under the Lease. Learn More Definitions from Barron's Dictionary of Real Estate Terms >> |
| Additional Rent |
A collective reference to Tenant's Proportionate Share of Operating Costs, Taxes, Common Area utilities and Insurance and any other monetary obligations of the Tenant due under the Lease. Learn More Definitions from Barron's Dictionary of Real Estate Terms >> |
| Allowed Use |
Defines the allowed use of the Leased Premises such as for office, warehouse purposes or the retail sale of certain products or services. No other use of the Leased Premises is allowed without Landlord's consent. Learn More Definitions from Barron's Dictionary of Real Estate Terms >> From the Lease Agreement: "Tenant shall use and occupy the Premises only for [enter allowed uses] purposes and for no other purpose without Landlord’s prior written consent." Aliases (separate with |): Use of Premises
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| Amendment to Lease |
A document subsequent to the original lease agreement that addresses any modifications to the original lease provisions, such as extending the term, expanding or reducing the size of the premises, and changing the rental rates, as well as adding or removing entire provisions as necessary. Learn More Definitions from Barron's Dictionary of Real Estate Terms >> Aliases (separate with |): Lease Amendment
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| Annual Bump |
The amount by which base rent is increased at the beginning of each consecutive lease year after Year 1. Could be set as a percentage (3% most often) or a set dollar amount (ex. $.50). Learn More Definitions from Barron's Dictionary of Real Estate Terms >> Aliases (separate with |): Annual Increase
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