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Option To Lease Agreement
"I need an Option to Lease Agreement under Belgian law for a retail space in Brussels, giving my company the exclusive right to lease the property for 6 months starting January 2025, with the option fee to be credited against the first month's rent if we proceed with the lease."
1. Parties: Identification of the option grantor (property owner) and option holder (potential tenant), including full legal names, addresses, and registration details
2. Background: Context of the agreement, including property details and parties' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of Option: Express grant of the option to lease and its basic terms
5. Option Period: Duration of the option period and any conditions for extension
6. Option Exercise: Process and formalities for exercising the option
7. Option Fee: Amount, payment terms, and status of the option fee (whether refundable or applicable to rent)
8. Lease Terms: Key terms of the lease that will come into effect upon exercise of the option
9. Property Description: Detailed description of the property subject to the option
10. Conditions Precedent: Any conditions that must be satisfied before the option can be exercised
11. Registration: Requirements and responsibilities for registering the option with relevant authorities
12. Representations and Warranties: Standard representations and warranties from both parties
13. Termination: Circumstances under which the option agreement may be terminated
14. Governing Law and Jurisdiction: Confirmation of Belgian law application and jurisdiction
15. Signatures: Execution block for all parties
1. Due Diligence: Terms regarding the potential tenant's right to conduct property investigations, used when specific due diligence rights are granted during the option period
2. Property Access: Terms governing access to the property during the option period, included when inspection or measurement rights are granted
3. Assignment: Terms regarding the ability to assign the option rights, included when assignment is permitted
4. Break Options: Terms regarding early termination rights in the underlying lease, included when break options are part of the deal
5. Works and Alterations: Terms regarding any permitted works during the option period or conditions for future alterations, included when relevant to the property
6. VAT Election: Specific provisions regarding VAT treatment, included when the property is subject to VAT
7. Environmental Provisions: Specific environmental warranties and obligations, included for industrial or potentially contaminated properties
1. Property Plan: Detailed plans and drawings of the property
2. Form of Lease: The full form of lease agreement to be entered into upon exercise of the option
3. Condition Report: Current condition of the property and any existing defects
4. Payment Schedule: Detailed breakdown of option fee, rent, and other payments
5. Permitted Use: Detailed description of permitted use of the property
6. Title Documents: Copies of relevant title documents and property registrations
7. Service Charges: Detailed breakdown of service charges and maintenance obligations
Authors
Real Estate
Retail
Hospitality
Manufacturing
Logistics
Professional Services
Healthcare
Technology
Financial Services
Education
Entertainment
Industrial
Warehouse & Distribution
Food & Beverage
Real Estate
Legal
Finance
Operations
Facilities Management
Business Development
Risk & Compliance
Corporate Development
Property Management
Asset Management
Real Estate Manager
Property Manager
Commercial Director
Legal Counsel
Chief Financial Officer
Facilities Manager
Business Development Manager
Operations Director
Real Estate Investment Manager
Asset Manager
Expansion Manager
Store Development Manager
Corporate Real Estate Manager
Leasing Manager
Risk Manager
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