Gerringong Legal joins Carter Ferguson Solicitors
We’re proud to announce that Gerringong Legal is now part of Carter Ferguson Solicitors, bringing together two firms with a strong commitment to personal,
How Do Option Clauses in Commercial Leases Work? | LegalVision
Oct 2, 2024 · An option clause is a commercial or retail lease provision allowing the tenant to renew the lease at the end of the original term, provided certain conditions are met.
How do lease options work? | NSW Small Business Commissioner
A retail lease will include an initial fixed-term – the minimum number of years you will be renting the shop. This is often 3, 5, or 7 years. It may also include an option to renew or extend the lease. If …
Examples of option to renew clauses in contracts | Afterpattern
WHEREAS, the parties seek to revise the Lease to: (i) extend the term of the Lease through and including June 30, 2018, and (ii) revise the Tenant’s Option to Renew.
Options to renew in commercial leases – don’t get caught out!
How option renewal periods work Most commercial leases require the tenant to notify the landlord if they wish to exercise an option to renew their lease. For example, if your original commercial lease has a …
OPTION TO RENEW Clause Samples | Law Insider
OPTION TO RENEW. Provided that (i) the Lease is in full force and effect, (ii) Tenant has not been in Default beyond any applicable cure periods more than two times in the last year of the initial ter...