Redevelopment and relocation Sample Clauses
The Redevelopment and Relocation clause allows a landlord to require a tenant to vacate or move their premises if the property is to be redeveloped, renovated, or repurposed. Typically, this clause outlines the notice period the landlord must provide, any assistance or compensation for relocation, and the tenant's obligations during the process. Its core function is to give landlords flexibility to improve or change the use of their property while providing a structured process for relocating tenants, thereby balancing the interests of both parties and minimizing disputes during redevelopment projects.
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Redevelopment and relocation. A redevelopment clause may allow the landlord to terminate a lease early so you can carry out major works to renovate or redevelop the premises. In these circumstances the tenant finds itself without premises or relocated to alternative premises. This could severely affect their business. Often the tenant tries to negotiate to have the redevelopment and relocation clauses removed from the lease. If you agree cross out the clause and all parties initial the change. If you are unsure seek legal advice. This now concludes the matter. Thank you for your instructions. Yours sincerely, Adj Professor, ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, CTA, ▇▇▇▇▇, BJuris, LLB, LLM, MBA, SJD National Taxation Partner Legal Consolidated Barristers & Solicitors
Redevelopment and relocation. If the Owner, at any time desires in any way to redevelop, demolish, modify, remodel, or alter the Facility (collectively, "Redevelopment"), and any such proposed Redevelopment necessitates, in Owner's reasonable judgment, the relocation of the License Area and/or any material alterations to the License Area, then Licensee shall relocate or make necessary alterations to the License Area, at Licensee's sole cost and expense, to a location and/or in a manner reasonably acceptable to Owner and Licensee, in order that Licensee shall have the continued use and enjoyment, if reasonably practical, of the License Area. Owner shall provide Licensee with no less than thirty (30) days' prior written notice of any proposed Redevelopment which owner reasonably anticipates would materially and adversely affect Licensee's use and enjoyment of the License Area. If that relocation or Redevelopment results in Licensee's temporary inability to use the Facility then, to the extent reasonably practicable, Owner shall allow Licensee to place a portable facility on the property, in a location reasonably acceptable to Owner, during the period of such interruption. If the Licensee and Owner are unable to agree on the location or manner of relocation of the License Area, or if that such relocation or alteration results in Licensee's inability to use the License Area, or temporary facility, for more than seventy-two (72) consecutive hours, then Licensee shall have the option to terminate this Agreement effective upon twenty-four (24) hours prior written notice to Owner.