Gross Sales Definition and Exclusions with Termination Right (Restaurant Lease) (Pro-Landlord) | Practical Law
Standard Clauses for a landlord that is entering into a lease with a tenant that is operating a restaurant and paying percentage rent. These Standard Clauses include a pro-landlord definition of gross sales, exclusions from gross sales, and a mutual termination right for the tenant's failure to achieve a gross sales threshold. These Standard Clauses have integrated notes with important explanations and drafting and negotiating tips for both landlords and tenants. While real estate leases are generally governed by state law, these jurisdictionally neutral standard clauses are useful and relevant in every state.