[RPPTL LandTen] Question Needing Guidance

[Jeffrey Mazor]

Remember the dollar purpose of that kind of provision is to protect the
Landlord's recovery of the TI investment.

 

Are you sure it triggers if the Tenant simply "vacates". I would think it
would only apply if the Tenant breached the lease.

 

Regardless, the assignee will stand in the Tenant's shoes, so the premises
won't be vacant.

 

Hope this helps.

 

Jeffrey R. Mazor, Esq.

J. R. Mazor & Associates, P.A.

Presidential Circle Building 

4000 Hollywood Blvd.,  Suite 265-s

Hollywood, FL 33021

Phone: 954-962-3500

Fax:       954-962-3560

Email:   Jmazor at Mazor.com

 

 

From: landten-bounces at lists.flabarrpptl.org
[mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of lesstevens
Sent: Monday, March 14, 2011 4:53 PM
To: 'RPPTL Landlord Tenant Committee'
Subject: [RPPTL LandTen] Question Needing Guidance

 

I have a Lease which provides that if the Tenant vacates within the first 10
years of the Lease it will re-pay to the Landlord the unamortized Tenant
Improvements.

 

The Tenant is selling its assets and assigning the Lease with Landlord's
approval.

 

Based upon these limited fact.is the assignment of the Lease a "vacating" by
the Tenant which would trigger the re-payment obligation?

 

Thanx for any input.

 

 

Les H. Stevens, Esquire

Les H. Stevens, P.A.

5301 North Federal Highway

Suite 130

Boca Raton, Florida 33487

Tel. - (561) 989-9797

Fax - (561) 989-8484

E-Mail - lesstevens at earthlink.net

 

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