The document is Memorandum of Understanding for Lease of a premises containing major general clauses of contracts. The weightage is given in respect to deadline of development of premises, taxes and outgoings, insurance, structural repairs, signage rights, building approvals, sub letting, first right of refusal, termination etc.
Memorandum of Understanding for Lease
The document is Memorandum of Understanding for Lease of a premises which shall be developed by the Lessor as per the specification of Lessee. It is a document developed in Indian context pertaining to long term lease of premises for a big store or shopping mall.