FRI Lease definition

FRI Lease. : means a full repair and insurance lease, whereby the lessee generally assumes all of the maintenance costs, as well as the services and insurance and the obligation to pay taxes and fees directly attributable to the relevant property;
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FRI Lease means a full repairing and insuring lease where all costs of internal maintenance and repair are met by the Tenant;
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Examples of FRI Lease in a sentence

  • Effectively FRI Lease for a term to be agreed, subject to 5 yearly upward only rent reviews.

  • Assignment of an FRI Lease granted in September 2017 , outside the Landlord & Tenant Act, for a term of 10 years and subject to a rent review at the end of the 5th year.

  • The Tenant’s FRI Lease obligations hereunder are limited to the standard set out in the Schedule of Condition and the Tenant is under no obligation to make any improvements to the Premises causing the Premises to be returned to Landlord in a condition which is a higher standard than the Entry Condition.

  • FRI Lease (Full Repairing & Insuring) This is when all costs of repairs/insurance for the property are owned by the tenant.

  • TENANCY Barclays Bank PLC have a FRI Lease expiring 27 September 2020.

  • It is the intent of this Lease and agreed to by the Parties to this Lease that it shall be a FRI Lease and that rent for this Lease will be on a gross rent basis meaning the Tenant will pay the Base Rent and the Landlord will be responsible for all other Service Charges related to the Premises and the operation of the Building save as specifically provided in this Lease to the contrary.

  • The property is held on a 15 year effectively FRI Lease from 27th January 2010, subject to a rent review on 27th January 2020.

  • Requests for use of school facilities must be made in writing to the building principal or other designee of the Employer.

  • The property is available on a 5 year effectively FRI Lease subject to a mutual rolling option to break operative on 6 months’ notice.

  • The property is held on a 10 year FRI Lease from 15th January 2011, subject to an outstanding rent review from 15 January 2016.