FIRST THREE LEASE YEARS Clause Samples
The "First Three Lease Years" clause defines the initial three-year period of a lease agreement, typically starting from the lease commencement date. During this time, specific terms may apply, such as fixed rent amounts, rent abatements, or particular tenant or landlord obligations that differ from later years. This clause is used to clearly delineate the early phase of the lease, often to provide stability or incentives to the tenant, and to ensure both parties understand the distinct terms that govern this initial period.
FIRST THREE LEASE YEARS. Except as expressly permitted under Article 13 below with respect to Permitted Mortgages, the Lessor may not sell, transfer, convey, grant options with respect to, or otherwise dispose of, or agree to sell, transfer, convey, grant options with respect to, or otherwise dispose of any or all of its interest in the Demised Premises or any part thereof (any such disposition, transaction or agreement is herein called a "Transfer") for the first three (3) Lease Years.
FIRST THREE LEASE YEARS. The Lessee may not make any Transfer for the first three (3) Lease Years.