- Occupancy Compensation Clause Samples
The Occupancy Compensation clause establishes the terms under which compensation is provided if a party is unable to occupy a property as agreed. Typically, this clause outlines the circumstances that trigger compensation, such as construction delays or failure to deliver the premises on time, and specifies how the compensation amount is calculated—often as a daily rate or a percentage of rent. Its core function is to protect the interests of the party expecting occupancy by ensuring they are financially compensated for any inconvenience or loss resulting from delayed possession.
- Occupancy Compensation. In the event that after judicial cessation or termination of the Lease, the premises are not be returned to the LESSOR free of any occupancy on the date agreed, the LESSEE or its assignees shall be liable for a monthly occupancy compensation equal to twice the current monthly rent. Such compensation shall be due on the day following the end of the lease and until the day of the return of the Premises, and any month that has begun shall be due in its entirety. The charges also remain due up to the day when the premises are returned to the LESSOR, all without prejudice to any other damages and interest.