NNN Leases – 10 Key Clauses for Tenants Counsel (June 13)

1. Security interests
2. Personal guarantees
3. Operating expenses (and cap thereon)
4. Maintenance provisions
5. Assignment provisions
6. Letter 
7. Mutual indemnification
8. Landlord default
9. Right of first option/refusal
10. Tenant improvements – who is responsible for permits, who is hiring the architect, engineer, and contractor.
 
A presentation on common lease clauses for tenant’s counsel to watch for and understand. Most NNN form leases are drafted heavily in favor of the landlord and, therefore, it is key for tenant’s counsel to understand which items are negotiable and how best to insert language to protect your tenant client. 

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