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Memorandum Of Understanding Between Landlord And Tenant
"I need a Memorandum Of Understanding Between Landlord And Tenant for a commercial warehouse space in Dubai Industrial City, with planned lease commencement on March 1, 2025, including specific provisions for 24/7 access and temperature control requirements."
1. Parties: Full legal names and details of the landlord and tenant, including their registered addresses and any registration numbers
2. Background: Context of the proposed tenancy arrangement and purpose of the MOU
3. Definitions: Key terms used throughout the document, including Property, Lease Term, Commencement Date, etc.
4. Purpose of MOU: Clear statement of the MOU's purpose and its generally non-binding nature, except for specific clauses
5. Property Details: Detailed description of the property, including address, size, and any included fixtures/fittings
6. Proposed Commercial Terms: Key commercial terms including proposed rent, payment terms, and lease duration
7. Conditions Precedent: Conditions that must be satisfied before proceeding to a formal lease agreement
8. Timeline: Proposed timeline for negotiations, documentation, and completion
9. Confidentiality: Obligations regarding confidentiality of negotiations and terms
10. Exclusivity: Period during which the landlord will not negotiate with other potential tenants
11. Costs: Responsibility for costs associated with the MOU and subsequent lease agreement
12. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant emirate's courts' jurisdiction
13. Execution: Signature blocks for all parties
1. Due Diligence: Process and timeline for tenant's due diligence investigations, used when the tenant requires specific inspections or verifications
2. Broker Involvement: Details of any real estate brokers involved and commission arrangements, included when brokers are part of the transaction
3. Fit-out Works: Preliminary agreement on any modifications or fit-out works, included for commercial properties requiring modification
4. Security Deposit: Preliminary terms for security deposit, included when parties want to address this aspect early
5. Service Charges: Preliminary agreement on service charges and building maintenance fees, relevant for properties in managed developments
6. Break Options: Proposed terms for early termination rights, included when parties want to address potential early exit scenarios
7. Property Management: Arrangements for property management services, relevant for larger commercial properties
1. Property Plan: Floor plan or layout drawing of the property
2. Title Documents: Copies of relevant title documents or Ejari registration
3. Proposed Payment Schedule: Detailed breakdown of proposed rent payments and other financial terms
4. Condition Report: Preliminary assessment of the property's condition
5. Proposed Timeline: Detailed timeline for all steps from MOU to lease completion
6. Required Approvals: List of necessary governmental or regulatory approvals
7. Proposed Works Schedule: Timeline and specifications for any agreed modifications or fit-out works
Authors
Real Estate
Commercial Property
Residential Property
Retail
Hospitality
Industrial
Office Space
Mixed-Use Development
Warehousing
Education
Healthcare
Corporate Services
Legal
Real Estate
Operations
Facilities Management
Compliance
Administration
Business Development
Property Management
Asset Management
Finance
Risk Management
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Real Estate Broker
Asset Manager
Operations Director
Commercial Director
Leasing Manager
Real Estate Administrator
Compliance Officer
Contract Manager
Business Development Manager
Property Operations Manager
Real Estate Portfolio Manager
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