| Term | Definition |
|---|---|
| Holding Over |
The event of Tenant remaining in possession of all or part of the Premises after the expiration or termination of the lease. Tenant has no right to remain in possession without Landlord's consent and may be liable to pay higher Rent (ex. 150% of the original monthly rent amount). Learn More Definitions from Barron's Dictionary of Real Estate Terms >> From the Lease Agreement: "Tenant has no right to remain in possession of all or any part of the Premises after the expiration of the Term. If Tenant nevertheless remains in possession of all or any part of the Premises after the expiration of the Term, with the express or implied consent of Landlord: (a) such tenancy will be deemed to be a periodic tenancy at sufferance from month-to-month only; (b) such tenancy will not constitute a renewal or extension of this Lease for any further term; and (c) such tenancy may be terminated by Landlord upon the later of fifteen (15) days' prior written notice or the earliest date otherwise permitted by law. Upon notice of termination under this Section, Rent following the termination date will be increased to the greater of (i) an amount equal to [enter percentage] of the Rent for the last month of occupancy, or (ii) an amount equal to [enter percentage] of the fair market rental value of the Premises as reasonably determined by Landlord, and any other sums due under this Lease will be payable in the amount and at the times specified in this Lease. In addition to such payment of Rent and other amounts as set forth in the previous sentence, Tenant shall also be liable to Landlord for any losses sustained by Landlord or claims by third parties arising out of and in connection with the holding over of the Premises by Tenant. Such month-to-month tenancy will be subject to every other term, condition, and covenant contained in this Lease." Aliases (separate with |): Tenancy at Sufferance
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| Industrial Building |
A commercial building that is primarily used for manufacturing, assembling, warehousing and/or distributing of products, or as a maintenance or service facility. Learn More Definitions from Barron's Dictionary of Real Estate Terms >> |
| Landlord Rep |
The licensed real estate broker that represents the interests of the Landlord and negotiates on its behalf in a lease transaction of a real estate property. Learn More Definitions from Barron's Dictionary of Real Estate Terms >> Aliases (separate with |): Landlord Representative
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| Landlord Representative |
The licensed real estate broker that represents the interests of the Landlord and negotiates on its behalf in a lease transaction of a real estate property. Learn More Definitions from Barron's Dictionary of Real Estate Terms >> Aliases (separate with |): Landlord Rep
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| Lease Agreement |
The contract between tenant and landlord that contains all the terms, conditions and provisions of the lease. Learn More Definitions from Barron's Dictionary of Real Estate Terms >> |
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