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demised premises

    0.01 sec.
demised premises

The property leased. See demise.



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The original 20-year lease contained an option to renew for two additional 20-year terms, providing that upon renewal, the annual rent would be 7% of the value of the demised premises determined at the beginning of each 10-year period.
The good guy guaranty is more concerned with avoiding delay tactic employed by tenants to the surrender of possession of the demised premises.
They are protected in three ways: * They are allowed to remain in the demised premises even after expiry of the original term until they wish to vacate or until the landlord can show one of the statutory grounds for termination; * Tenants can obtain a new lease on virtually the same terms although subject to market rents and court resolution (where required) of any disputed terms; * If a statutory ground for termination does apply, the tenant is entitled to statutory compensation.
 
 
 
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