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Loi For Commercial Lease
"I need a Letter of Intent (LOI) for Commercial Lease for a retail unit in Manchester city centre, where my company will be the tenant taking a 10-year lease starting March 2025, with a break clause after 5 years and an initial rent of £50,000 per annum."
1. Parties: Identification of proposed landlord and tenant with full legal names and addresses
2. Property Description: Detailed description of the premises to be leased, including address and any relevant boundary information
3. Commercial Terms: Proposed rent, lease length, payment terms, and other key commercial provisions
4. Timeline: Expected completion dates, key milestones, and proposed lease commencement date
5. Conditions Precedent: Key conditions that must be met before proceeding with the lease
6. Non-Binding Statement: Clear statement that the LOI is not legally binding except for specific provisions
1. Exclusivity Period: Terms regarding exclusive negotiation period during which landlord won't negotiate with other parties
2. Confidentiality Provisions: Terms regarding the handling and protection of confidential information exchanged during negotiations
3. Cost Allocation: Terms specifying how professional fees and costs will be allocated between parties
4. Break Options: Proposed terms for any break clauses or early termination rights
5. 1954 Act Provisions: Statement regarding whether the eventual lease will be contracted out of the Landlord and Tenant Act 1954
1. Floor Plans: Preliminary plans showing the extent of the premises to be leased
2. Heads of Terms Summary: Summary table of key commercial terms and conditions
3. Due Diligence Requirements: List of required documentation and investigations to be completed
4. Timeline Schedule: Detailed schedule of key dates and milestones for the transaction
Authors
Tenant
Property
Premises
Proposed Lease
Lease Term
Commencement Date
Completion Date
Base Rent
Permitted Use
Service Charge
Exclusivity Period
Confidential Information
Business Day
Break Date
Planning Permission
EPC
Security Deposit
Common Areas
Lease Term
Outgoings
Professional Fees
Due Diligence Period
Insurance Rent
VAT
Working Hours
Building
Binding Provisions
Non-Binding Provisions
Heads of Terms
Condition Precedent
Lease Term
Rent
Service Charge
Insurance
Repairs and Maintenance
Permitted Use
Alterations
Assignment and Subletting
Break Rights
Security of Tenure
Rent Review
Confidentiality
Exclusivity
Due Diligence
Professional Costs
Non-Binding Nature
Planning Requirements
VAT Status
Energy Performance
Timelines
Conditions Precedent
Access Rights
Deposit Requirements
Governing Law
Third Party Rights
Early Termination
Binding Elements
Good Faith
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