The audio portion of the conference may be accessed via the telephone or by using your computer's speakers. Please refer to the instructions emailed to registrants for additional information. If you have any questions, please contact Customer Service at 1-800-926-7926 ext. 10. Presenting a live 90-minute webinar with interactive Q&A Negotiating Restaurant Leases: Combining Practicality with Legality Navigating Permitted and Exclusive Uses, Co-Tenancy, Right to go Dark, Operating Expenses, Termination, Renewal, Lease Economics and More Today’s faculty features: 1pm Eastern | 12pm Central | 11am Mountain | 10am Pacific THURSDAY, JANUARY 21, 2016 James R. Haslem, Principal, Huntley Mullaney Spargo & Sullivan, Roseville, Calif. Lewis Gelmon, Lewis Gelmon Enterprises, San Diego
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The audio portion of the conference may be accessed via the telephone or by using your computer's
speakers. Please refer to the instructions emailed to registrants for additional information. If you
have any questions, please contact Customer Service at 1-800-926-7926 ext. 10.
Presenting a live 90-minute webinar with interactive Q&A
Negotiating Restaurant Leases:
Combining Practicality with Legality Navigating Permitted and Exclusive Uses, Co-Tenancy, Right to go Dark,
Operating Expenses, Termination, Renewal, Lease Economics and More
Provided that ABC Ltd. shall remain as the Tenant and if the Tenant duly and has regularly paid its rent and has performed its covenants and obligations under this Lease and has not been in Default, it shall have the option to renew this Lease for a further term of five years exercisable by written notice to the Landlord no less than nine (9) months prior to the end of Term. Any such renewal shall be on the Landlord’s then current standard form lease at a minimum rent to be determined between Landlord and Tenant, but in no event shall it be less than the rent paid in the last year of the original Term. If the Landlord and Tenant are unable to agree on the market rent within sixty days of the exercise by the Tenant of its option to renew, the Rent shall then be determined by arbitration based on the market rent for renewing tenants in the building
If the Tenant should wish to assign or sublet the Leased Premises, it shall first have received the consent of the Landlord. Any request for such consent shall be in writing. Within fifteen (15) days after the receipt by the Landlord of such request for consent, the Landlord shall have the option to either terminate the lease or to revise the Minimum Rent to be paid during the remainder of the Term to the greater of the then current market rent for the Leased Premises or fifteen percent (15%) greater than the then current rent. Notwithstanding the Landlord’s consent to any assignment or subletting, the Tenant and the Guarantor (s) shall not be released from its obligations under the Lease and shall remain liable for any failure of the Tenant or its assignees or subtenants to observe each and every covenant of the Lease.
• The Lessee acknowledges that if during the term of the Lease, the Lessor: • a) Makes a bona fide sale or otherwise disposes of the building or
any part of the Lessor's interest therein; • b) Wishes to remodel or renovate the building or any part thereof; • c) Wishes to take down or demolish the building;
• The Lessor shall have the right notwithstanding anything in the Lease
herein contained, to terminate the Lease upon giving to the Lessee six
(6) month's notice in writing of Its Intention to terminate the same and
upon the expiration of the period of such notice, the term shall stand determined and at an end, and the Lessee shall forthwith deliver to
the Lessor, or its nominee, quiet and peaceful possession of the demised premises in accordance with the provisions of Article 6.08.
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Inflation is Coming!
• Inflation is a significant risk with the NNN Lease
• Hedge your leases against inflation
• You don’t have to outrun the tiger… just the person next to you