Model Lease Clause: Set Out Right to Increase Security Deposit
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You can adapt the following security increase clause for your leases to get the right to increase the security deposit if certain potentially costly events occur. Using the clause in your leases will also establish how much you can increase the security deposit by and when the increase must be paid by the tenant. It will also give you the right to terminate the lease if the tenant fails to pay the increase on time. Show this clause to your attorney before using it.
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![47: SECURITY DEPOSIT
Model Lease Clause: Set Out Right to Increase Security Deposit
You can adapt the following security increase clause for your leases to get the right to increase
the security deposit if certain potentially costly events occur. Using the clause in your leases will
also establish how much you can increase the security deposit by and when the increase must be
paid by the tenant. It will also give you the right to terminate the lease if the tenant fails to pay
the increase on time. Show this clause to your attorney before using it.
LANDLORD’S RIGHT TO INCREASE SECURITY DEPOSIT
a. Right to Increase Security Deposit. Without limiting Landlord’s other rights and remedies provided
for in this Lease or at law or equity, Landlord shall have the right to increase the Security Deposit
upon the occurrence of any of the following events:
(i) Clause [insert # of use clause] of this Lease is at any time amended to accommodate
a material change, as determined by Landlord in its sole and absolute discretion, in the
permitted uses initially specified therein;
(ii) Tenant requests Landlord’s approval of an assignment or sublet to an entity whose creditworthiness, economic strength, or financial status, in Landlord’s sole and absolute discretion, is weaker than the creditworthiness, economic strength, or financial status of Tenant
at the time of such request;
(iii) Landlord determines, in its sole and absolute discretion, that the creditworthiness,
economic strength, or financial status of Tenant falls below a level then acceptable to
Landlord;
(iv) Landlord determines, in its sole and absolute discretion, that the creditworthiness, economic strength, or financial status of Guarantor or Indemnitor falls below a level then
acceptable to Landlord; or a bankruptcy proceeding is filed by or against Guarantor or
Indemnitor; or Guarantor or Indemnitor breaches the Guaranty or Indemnity; or, if Guarantor or Indemnitor is an individual, Guarantor or Indemnitor dies;
(v) Tenant is in default under this Lease more than [insert #, e.g., 2] times within any twelve
(12)-month period, irrespective of whether or not such default is cured;
(vi) Tenant exercises its option to renew this Lease or its option to extend the Term in accordance with Clause [insert # of renewal/extension option] hereof;
(vii) Tenant exercises its option to expand the Premises in accordance with Clause [insert #
of expansion option] hereof; or
(viii) Tenant, or its contractors or agents, performs alterations at the Premises.
b. Amount of Increase. If any of the events listed in Paragraph a hereof occur, then Landlord may
increase the Security Deposit by an amount that Landlord determines, in its sole and absolute discretion, is necessary to protect its interests. Such increase shall be paid by Tenant, immediately
upon demand by Landlord.
c.
Landlord May Terminate Lease if Tenant Fails to Comply. If Tenant fails to comply with the provisions of
Paragraph b hereof, such failure shall be a material default of this Lease and Landlord may, without liability, terminate this Lease on written notice to Tenant, in which event, the Term and the
tenancy hereby created shall terminate on the [insert #, e.g., 10th] day after such notice is given
(the “Termination Date”) and Tenant shall within such [insert #, e.g., 10]-day period vacate the
Premises and surrender them to Landlord in the state required under this Lease, with Landlord
having the right to reenter and repossess the Premises discharged of this Lease and to expel
all occupants and to remove all property therefrom. All Rent shall be due and payable by Tenant
without reduction or abatement until the Termination Date.
BEST COMMERCIAL LEASE CLAUSES
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The document discusses rules regarding payment of premiums for suretyship or bonds according to the Insurance Code of the Philippines. It outlines six rules: 1) Premiums become a debt upon completion of the contract, 2) Contracts are not valid unless premiums are paid, 3) Accepted bonds are valid even if premiums are unpaid, 4) Unaccepted bonds allow collection of reasonable fees, 5) Faulty non-acceptance means no fees can be collected, and 6) Continuing bonds require annual premium payments. It also defines fidelity bonds and surety bonds, and describes various types of surety bonds like contract and judicial bonds. Pertinent civil code provisions are applied to interpreting suretyship contracts.
Claims Processing & Administration in General Insurance
This document is a term paper on claims processing and administration in general insurance. It discusses key terms related to claims management, the typical claims procedure, and the importance of effective claims management for insurance companies. The claims procedure involves claim notification, inspection, appointing a loss adjuster, generating reports, communicating the settlement or repudiation, resolving disputes, delivering settlement, retrieving salvage, and applying contribution and subrogation. Good claims management is important as it improves customer satisfaction, reduces advertising costs, changes public perceptions of insurance, and attracts more customers and economic benefits.
Calling of a demand guarantee
A demand guarantee is a guarantee that must be honoured by the guarantor upon beneficiary's demand. The beneficiary is not required to first make a claim or take any action against the obligor of the guaranteed obligation that the guarantee supports
Title Insurance Commitment
This document is an ALTA Commitment for Title Insurance that commits Blank Title Insurance Company to issue an owner's or lender's title insurance policy. It includes schedules that identify the effective date, proposed insured, property address, requirements and exceptions. The commitment is subject to its terms, conditions and the company's liability is limited to the policy amount stated. It is not a representation of clear title but rather an agreement to provide title insurance for the proposed transaction.
CLIENT CONTRACTOR AGREEMENT
CLIENT CONTRACTOR AGREEMENT FORMAT
FREE LEGAL AND ACCOUNTANT FORMATS
KANOON KE RAKHWALE INDIA
HIRE LAWYER ONLINE
LAW FIRMS IN DELHI
CA FIRM DELHI
VISIT : https://www.kanoonkerakhwale.com/
VISIT : https://hirelawyeronline.com/
Supplier Parent Company guarantee Sample (Purchase this doc, Text: 0811888727...
This document is a parent company guarantee between a guarantor and beneficiary. It guarantees the obligations of a third company (the COMPANY) under a covered agreement. Specifically:
1) The guarantor irrevocably guarantees the due payment and performance obligations of the COMPANY under the covered agreement.
2) The guarantor's obligations are primary and absolute, and are the same as the COMPANY's obligations under the covered agreement.
3) The guarantee will remain in effect until the COMPANY fulfills all obligations under the covered agreement or the guarantee is terminated by both parties.
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Timeshare contracts don't have to burden you forever. During our free event, real estate lawyers will show you how timeshare owners have gotten out of their sales contracts.
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Learn how it's possible to cancel, terminate or modify your sales contract. Regardless of what resort developers tell you, they do let timeshare owners out of their contracts. Developers frequently breach their own contracts and engage in fraudulent activities. Learn how a developer's actions can give you a way out.
Deception
Has the resort told you that you can't make a reservation? Have they told you that you can't rent your week? Are you paying hidden costs or higher fees? Timeshare owners face many surprises after the sales presentation. We'll explain your options.
Sales
The timeshare resale industry is rife with unscrupulous businesses. Resale scams require sellers to pay expensive upfront junk fees. Learn how not to become a victim of these fraudsters.
Dealing with Runaway Maintenance Fees
On average, timeshare maintenance fees increase 8% per year. You might even get stuck paying other costs and assessments as time goes on. The sales team probably didn't tell you about these hidden expenses and fee increases. We'll explain how you can seek relief from this costly headache.
Estate Plan
If you've decided to keep your timeshare, then the next step is creating an estate plan. Timeshare contracts are "in perpetuity," and your heirs will have to continue paying maintenances fees and other costs. Learn how to dispose of your timeshare to prevent your heirs from inheriting the extra expenses.
Clause 4.2 Performance Security-Understanding Clauses in FIDIC ‘Conditions of...
The document discusses performance security under FIDIC conditions of contract. Performance security is usually 10% of the contract price and is valid until the contractor has completed the works and remedied any defects. The employer can claim under the performance security if the contractor fails to extend the validity period, fails to pay amounts owed, or fails to remedy a default. The performance security is returned once the contractor is entitled to the performance certificate.
Business laws
Breach of contract occurs when one party fails to meet their obligations under a contract. There are three main types of breach: anticipatory breach, where a party signals they will not perform before the deadline; actual breach, where a party fails to perform by the deadline or makes performance impossible; and partial breach, where a non-material part of the contract is breached. When a breach occurs, the innocent party is entitled to damages to put them in the position they would have been in if the contract was fulfilled. Remedies for the innocent party include getting the breaching party to reconsider, contacting consumer forums, or suing for damages or specific performance.
Commercial Lease Deed
No doubt that, rented premises leads to saving of hefty investment cost but that is only one side of the coin and the other side of coin calls for attention towards the legal aspects involved in such decision which are specified through a Commercial Lease Deed.
Chicago Residential Landlord & Tenant Ordinance Full Version | Aaron Krolik L...
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This document outlines portions of the Municipal Code of Chicago pertaining to residential landlords and tenants. It establishes responsibilities for both landlords and tenants, including requirements for landlords to properly maintain rental units and comply with laws governing security deposits, and obligations of tenants to keep their portions of the premises clean and safe. The code also describes circumstances under which landlords are permitted access to rental units and remedies available to both parties.Vietnam Accounting Standards - VAS 06 Leases
VAS 06 provides guidance on accounting for leases. It defines key terms like financial lease, operating lease, minimum lease payments, and economic life. Leases are classified as either financial or operating based on the degree of risk and rewards transferred from the lessor to the lessee. A financial lease transfers most risks and rewards of ownership, while an operating lease does not. The standard provides examples of provisions that typically result in a lease being classified as financial.
General Provisions of the CGL
This article describes the general provisions found on the CGL form, including supplementary payments, limits of insurance, and CGL conditions.
Indemnity
1. An indemnity is a contractual agreement where one party promises to compensate the other for any losses or damages.
2. Indemnity clauses are commonly found in rental agreements, leases, and contracts involving intellectual property to allocate risks and limit liability for damages.
3. Suppliers have become more reluctant to provide intellectual property indemnities due to factors like open source software, increased litigation risks, and more software patents.
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Model Lease Clause: Set Out Right to Increase Security Deposit
- 1. 47: SECURITY DEPOSIT Model Lease Clause: Set Out Right to Increase Security Deposit You can adapt the following security increase clause for your leases to get the right to increase the security deposit if certain potentially costly events occur. Using the clause in your leases will also establish how much you can increase the security deposit by and when the increase must be paid by the tenant. It will also give you the right to terminate the lease if the tenant fails to pay the increase on time. Show this clause to your attorney before using it. LANDLORD’S RIGHT TO INCREASE SECURITY DEPOSIT a. Right to Increase Security Deposit. Without limiting Landlord’s other rights and remedies provided for in this Lease or at law or equity, Landlord shall have the right to increase the Security Deposit upon the occurrence of any of the following events: (i) Clause [insert # of use clause] of this Lease is at any time amended to accommodate a material change, as determined by Landlord in its sole and absolute discretion, in the permitted uses initially specified therein; (ii) Tenant requests Landlord’s approval of an assignment or sublet to an entity whose creditworthiness, economic strength, or financial status, in Landlord’s sole and absolute discretion, is weaker than the creditworthiness, economic strength, or financial status of Tenant at the time of such request; (iii) Landlord determines, in its sole and absolute discretion, that the creditworthiness, economic strength, or financial status of Tenant falls below a level then acceptable to Landlord; (iv) Landlord determines, in its sole and absolute discretion, that the creditworthiness, economic strength, or financial status of Guarantor or Indemnitor falls below a level then acceptable to Landlord; or a bankruptcy proceeding is filed by or against Guarantor or Indemnitor; or Guarantor or Indemnitor breaches the Guaranty or Indemnity; or, if Guarantor or Indemnitor is an individual, Guarantor or Indemnitor dies; (v) Tenant is in default under this Lease more than [insert #, e.g., 2] times within any twelve (12)-month period, irrespective of whether or not such default is cured; (vi) Tenant exercises its option to renew this Lease or its option to extend the Term in accordance with Clause [insert # of renewal/extension option] hereof; (vii) Tenant exercises its option to expand the Premises in accordance with Clause [insert # of expansion option] hereof; or (viii) Tenant, or its contractors or agents, performs alterations at the Premises. b. Amount of Increase. If any of the events listed in Paragraph a hereof occur, then Landlord may increase the Security Deposit by an amount that Landlord determines, in its sole and absolute discretion, is necessary to protect its interests. Such increase shall be paid by Tenant, immediately upon demand by Landlord. c. Landlord May Terminate Lease if Tenant Fails to Comply. If Tenant fails to comply with the provisions of Paragraph b hereof, such failure shall be a material default of this Lease and Landlord may, without liability, terminate this Lease on written notice to Tenant, in which event, the Term and the tenancy hereby created shall terminate on the [insert #, e.g., 10th] day after such notice is given (the “Termination Date”) and Tenant shall within such [insert #, e.g., 10]-day period vacate the Premises and surrender them to Landlord in the state required under this Lease, with Landlord having the right to reenter and repossess the Premises discharged of this Lease and to expel all occupants and to remove all property therefrom. All Rent shall be due and payable by Tenant without reduction or abatement until the Termination Date. BEST COMMERCIAL LEASE CLAUSES 455