What is an exclusivity clause in a lease?

An exclusivity clause is a clause in a commercial lease that grants a tenant the exclusive right to engage in a certain type of activity at that location. Generally speaking, exclusivity clauses are granted to large and lucrative tenants, often referred to as “anchor” tenants.

Does a lease have exclusive possession?

Lease – A lease arises when a landlord grants a tenant a legal right to exclusive possession of premises for a specified period of time in return for the payment of rent.

What is exclusive use clause?

An exclusive use clause, or “exclusive,” reflects the agreement of the landlord to allow any other tenants within the shopping center to use their respective premises for a specific use, whether selling certain products or providing certain services.

What is master lease agreement?

A master lease is a single lease that covers multiple properties leased from a landlord to a tenant. As a single lease, a master lease will not break out rents ascribed to individual properties. All properties within a master lease are bound by a single payment, lease escalation and lease renewal schedule.

What’s the purpose of a Demising clause in a lease?

This can be as simple as “Landlord agrees to let, and Tenant (Lessee) agrees to take” or can be more formal. Technically, this is called the “demising clause,” but it really just sets out the basic agreement that you will be leasing property from the landlord.

Why is a lease better than a licence?

When do I need a lease, and when is it better to have a licence? In short, leases provide more flexibility, allowing tenants full use of property. The advantage of a license is to let occupants use land or property only for specific purposes. Leases and licenses also differ in their length of duration and permanency.

How do I get a master lease?

Master lease must haves:

have an attorney create the master lease agreement.
perform a title search to make sure the title is clear and there are no liens or understand what liens do exist.
engage the services of a holding company to retain possession of an executed deed and the original document.

What is a master lessee?

Master Lessee means the Person responsible for the occupancy, use, operation, maintenance and administration of the Mortgaged Property pursuant to a Seniors Housing Facility Lease, if any.

What does demised premises mean in a lease?

Demised Premise means all that portion of the Building which is leased or intended to be leased by the Landlord to the Tenant by this Lease, including any additions and improvements to the Building herein provided; Save. Copy. Remove Advertising.

Can a tenant grant a lease of the demised premises?

Once a landlord has granted a lease, it cannot, during the term of that lease, grant exclusive possession of the demised premises to another tenant. The Land Registry had therefore taken the only available option, to register the development lease concurrently with, and subject to, the flat leases.

Is there a law against exclusivity in lease agreements?

While there has been no proof evidencing a contravention of competition legislation in respect of exclusivity clauses in lease agreements, the Commission is insistent upon addressing these clauses through merger control.

Who are the parties to the exclusivity clause?

Exclusivity . During the term of this Agreement, and except with respect to this Agreement and the transactions contemplated hereby, the Seller agrees that it will not, and will cause the Company, its Subsidiaries and its and their respective directors, officers, managers, employees, Affiliates and other agents…

Where are the exclusivity clauses in the Hamada lease?

Section 6.8 of the Hamada Lease and Section 6.8 of the Spiedini Lease are set forth in Exhibit “2.12.”

What are the exclusivity provisions in the spiedini lease?

Section 6.8 of the Spiedini Lease prohibits the Prime Landlord from leasing to another restaurant tenant at the Resort that has Italian Food as its primary menu items. The foregoing restrictions in the Hamada Lease and the Spiedini Lease are referred to as the “ Exclusivity Provisions .”

Where can you find an exclusivity clause in a lease agreement?

Exclusivity clauses are commonly seen in commercial lease agreements. An “anchor tenant” in an office building, shopping center, or other commercial building, whose presence helps attract customers and other tenants, may bring up this type of clause.

Which is an example of a master lease agreement?

Example of Master Lease Agreement Deal The example property is an apartment building appraised at $10 million, and it is 80% occupied. Furthermore, the property would generate $1 million NOI if fully occupied. Unquestionably, you would like to purchase the building, renovate it and then sell it for a profit.

Is it possible to break an exclusivity clause?

It is also very difficult to break this clause of a contract without being held responsible for the penalties listed. The clause is also referred to as an exclusivity agreement form and an exclusivity contract. An exclusivity clause is an agreement between at least two parties where one party will purchase goods exclusively from another.

What happens if you default on a master lease agreement?

Easy Closing: The property sale can close quickly and inexpensively. Protection: Because the seller retains legal title, it can easily take back possession of the property if the buyer defaults on the master lease agreement. The master lease agreement is the result of a negotiation between a seller and buyer.