Common use of Procedures for Replacement Clause in Contracts

Procedures for Replacement. If LANDLORD approves a replacement tenant, then the replacement tenant must sign a new lease contract. Unless LANDLORD agrees otherwise in writing, TENANT’s SECURITY DEPOSIT will automatically transfer to the replacement tenant as of the date LANDLORD approves. The departing tenant will no longer have a right to occupancy or a SECURITY DEPOSIT refund. The replacement is not considered complete until the replacement lease contract is approved by LANDLORD, the replacement lease is fully executed, and all fees are received. UNLAWFUL EARLY MOVE-OUT. TENANT will be liable for a $500 termination fee, in addition to all RENT, fees, and other charges due during the TERM, if TENANT:

Procedures for Replacement. If LANDLORD approves a replacement tenant, then the replacement tenant must sign a new lease contract. Unless LANDLORD agrees otherwise in writing, TENANT’s ’S SECURITY DEPOSIT will automatically transfer to the replacement tenant as of the date LANDLORD approves. The departing tenant will no longer have a right to occupancy or a SECURITY DEPOSIT refund. The replacement is not considered complete until the replacement lease contract is approved by LANDLORD, the replacement lease is fully executed, LANDLORD and all fees are received. UNLAWFUL EARLY MOVE-OUT. OUT TENANT will be liable for a $500 termination fee, in addition to all RENT, fees, and other charges due during the TERM, if TENANT: