When will the lease start? When the lease payments begin? What is the beginning date of the lease?
If the premises need to have construction done then the start of the lease will probably be the same time that you are handed your keys. The obligation for rent and right to use the space. The term “take possession” does not necessarily mean that you can move in on that date but not begin business. There is commonly a series of steps before final move in. If your landlord has agreed to making imporovmenets then you have to agree whether you can have contractors and architects access the space while the current tenant is in the space. You need to determine when you can move in, when you can open for business, when you take possession, when you can begin making improvement plans. You also want to determine from which date to purchase insurance; from which date you need to be in code comliance; removal of waste. The term clause will determine these events in addition to the payment lause.
What to do about delays?
Other issues involve the space not being ready in time due to a holdover tenant, due to increasing time for contractors, or due to waiting for inspector approvals. If the landlord is the source of the delays, the tenant can negotiate a lease cancellation if the premises is not ready in time or the provision of a liquidated amages cllause.
Where to address this issue?
The issue of risk allocation about the availability of the space can be adressed in the Term clause or the Imprvements clause
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