Lease Abstract CAM Audit Glossary T
Tenant Audit Rights
Describes the tenant’s right to audit the landlord’s operating expense records and when the tenant must begin and/or complete the audit.
Defines any allowances or remaining construction obligations the landlord owes to the tenant for improvements made by the tenant.
Includes the type(s) of insurance, the amount(s) of coverage required for each type of insurance and any self insurance the tenant is required to have.
Provides the name and address of any tenant contacts to whom the landlord is required to provide notice.
Tenant Radius Restrictions*
Includes specific prohibitions against the tenant opening a similar or competing operation within a defi ned area from the location of the premises.
Defines the length of time (typically expressed in years) from the day the lease begins until the day the lease ends.
describes any termination options including the effective date, notice requirements, termination fee, payment schedule and any special conditions that trigger the option to terminate (excluding casualty and/or condemnation).
Describes any termination options including the effective date, notice requirements, termination fee, payment schedule, and if applicable, special conditions that trigger the option to terminate (excluding casualty/condemnation and defaults).
*Applies only to retail leases.