Lessor’s Rights When Lessee Breaches the AIR Lease

If Lessee does not perform an obligation in the AIR Lease, Lessee typically has the right to cure its Default.  However, if it fails to cure on time (or if the Default cannot be cured), Lessor may terminate Lessee’s right to possession of the Premises and require Lessee to pay Lessor all of the following [...]

By | 2018-01-31T21:05:48+00:00 April 12th, 2016|Landlord-Tenant|0 Comments
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AIR’s Inducement Recapture Provision: When Free Rent Is No Longer Free

Tenants love free rent.  But they would hate to pay it back. Under the AIR lease, if Lessee commits a Breach, it is required to immediately pay Lessor the value of any free rent or other inducement (TI allowance, etc.) it received (Paragraph 13.3). This type of provision is included in many custom leases as [...]

By | 2018-08-16T14:50:33+00:00 April 16th, 2015|Landlord-Tenant, Leasing|Comments Off on AIR’s Inducement Recapture Provision: When Free Rent Is No Longer Free
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