Common use of Purpose of Lease Clause in Contracts

Purpose of Lease. This lease is for the benefit of both parties. Nonetheless, the terms of the Lease are material to the Landlord’s ability to provide space to those businesses that Landlord determines in its sole discretion are capable of developing or growing into successful enterprises which will not need the lower-than-market benefits and other services offered by the Landlord and not traditionally found in other leasehold arrangements (with the possible exception of other business incubator leases). As a result, the Landlord will continue to possess, during and after the termination of this Lease, without threat of liability, claim or legal action of any sort, all the rights retained by it and set forth herein which include but are not limited to the right to review all business and financial records of the Tenant, and to right to terminate the Lease at any time. The Tenant accepts such conditions, although they may prove onerous to its operations. Tenant hereby waives any and all rights that it may have or assert to have to make any claim or file any legal action against the Landlord, its directors, agents, officers or other representatives for any decision made or which it fails to make regarding the financial promise of the Tenant’s business, its ability to be financially successful, or its rights to terminate the Lease. This exemption from liability extends to any advice received by the Tenant from the Landlord or from third party consultants provided by the Tenant.