LEASE NOT YET EXECUTED Clause Samples
The 'Lease Not Yet Executed' clause clarifies that the terms discussed or presented in a draft lease are not legally binding until the lease is formally signed by all parties. In practice, this means that neither the landlord nor the tenant is obligated to proceed with the lease or adhere to its terms until execution occurs, and either party may withdraw or negotiate further changes before signing. This clause serves to prevent misunderstandings or premature reliance on draft documents, ensuring that both parties are only committed once the lease is officially executed.
LEASE NOT YET EXECUTED. In the event that the FRANCHISEE has not yet entered into a premises lease for the Franchised Location at the time this Agreement is executed, the provisions of Article 22.2, 22.3 and 22.5 of this Agreement will take effect immediately upon the execution of the Lease. The representations of the FRANCHISEE contained in Article 22.4 will be true and complete as of, and will be deemed to have been made at, the time the Lease is executed. The FRANCHISEE agrees to execute any additional documents as may be required by WCH'S attorneys to perfect the assignment of the Lease.