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Permitted Uses: Flexibility and Adaptability
When negotiating permitted-use clauses under retail leases, landlords attempt to achieve the most comprehensive limitations possible so as to avoid conflicts with other tenants' leases and violations of exclusive-use clauses that are maintained by other tenants in the retail facility.
Tenants, however, should be very careful to incorporate a certain degree of flexibility and adaptability into their leases' permitted-use clauses to take into account an evolving landscape for retail products, changes in technology, modifications in a company's retail focus and strategy, and constantly changing retail environments within various retail facilities.
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Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
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Strategy vs. Tactics: Two Sides of a Difficult Coin
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The Article 8 Opt In
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Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.