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Rental Waiver
"I need a Rental Waiver for a commercial property in Brussels, where the landlord agrees to temporarily reduce the rent by 30% for three months starting March 1, 2025, due to extensive renovation works in the building's common areas."
1. Parties: Identification of all parties involved - the landlord, tenant, and any other relevant parties such as guarantors
2. Background: Context of the original rental agreement and circumstances leading to the waiver
3. Definitions: Key terms used in the waiver document, including references to the original lease agreement
4. Subject Matter of Waiver: Clear and specific description of the rights, obligations, or conditions being waived
5. Duration and Scope: Temporal scope of the waiver and any limitations on its application
6. Consideration: Any consideration or compensation provided in exchange for the waiver, if applicable
7. Remaining Obligations: Clarification of which obligations under the original lease remain in force
8. Representations and Warranties: Statements by both parties confirming their understanding and authority to enter into the waiver
9. Governing Law: Explicit reference to Belgian law and relevant jurisdictional provisions
10. Signatures: Execution block for all parties to sign and date the waiver
1. Third Party Rights: Required when the waiver affects the rights of parties not directly signing the waiver, such as guarantors or sub-tenants
2. Conditions Precedent: Include when the waiver is subject to certain conditions being met before becoming effective
3. Notice Provisions: Required when specific notification procedures need to be followed as part of the waiver process
4. Severability: Optional clause ensuring that if any part of the waiver is found invalid, the rest remains in force
5. Language Declaration: Required in certain regions of Belgium where language requirements apply for legal documents
1. Original Lease Agreement: Copy or key details of the original lease agreement being referenced
2. Payment Schedule: If the waiver involves any payment arrangements or modifications to existing payment terms
3. Property Details: Detailed description of the property subject to the rental agreement and waiver
4. Authorization Documents: Any relevant corporate or legal authorizations required to execute the waiver
Authors
Recitals
Definitions
Waiver Scope
Duration
Consideration
Remaining Obligations
Representations and Warranties
Conditions Precedent
Notice Requirements
Amendment
Severability
Entire Agreement
Governing Law
Language Requirements
Assignment
Further Assurance
Costs
Counterparts
Third Party Rights
Registration
Stamp Duty
Force Majeure
Dispute Resolution
Signature
Real Estate
Retail
Commercial Property
Residential Property
Hospitality
Industrial
Office Space
Warehousing
Mixed-use Development
Shopping Centers
Legal
Real Estate
Property Management
Operations
Facilities
Risk & Compliance
Asset Management
Contract Administration
Property Administration
Property Manager
Real Estate Manager
Legal Counsel
Compliance Officer
Facilities Manager
Asset Manager
Leasing Manager
Property Administrator
Contract Manager
Risk Manager
Operations Director
Real Estate Director
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