Mandatory venue clauses require that the particular court selected and located in a specific city, and/or county is the exclusive court or only Court to decide the dispute. Deposit 5. Cancellation 7. The facility space rental agreement is for the usage of space by a third (3rd) party, known as the ‘lessee’ or ‘tenant’, for the use of a party venue such as a wedding, graduation, etc. Just as important, however, are lease terms incorporated as standard contract clauses. that access to the Venue during the Hire Period will not be provided until such time as Council has approved the same in its sole discretion. Coverage. The Hirer shall also be responsible for all other charges stated on the front of the Event Hire Agreement together with any other additional charges that may subsequently become chargeable to the Hirer under the provisions of the Event Hire Agreement. Technical Facilities 8. It’s possible that a client will pull out midway through the event planning … Advertising and Promotion 11. Terms for cancellation. Definitions and Interpretation 2. A lease is very simply a document that sets out the agreement between the landlord and the tenant as to the basis on which the former will allow the latter to occupy their premises. Utilities 9. A lease or tenancy agreement may contain a clause which suspends the rent in the event that the property becomes uninhabitable. It is not suitable for use in other circumstances. 1.3. 1.1. Most commercial leases require both parties to have insurance that covers the building and everyone involved in the transaction. The Tenant Insurance clause in a commercial lease stipulates that the Tenant must obtain general liability, business interruption, all-risk property, and workers' compensation insurance. Authority and charged to The Hirer. Unused options should be removed from the document. Generally, the renters insurance lease clause will require a tenant to have a renters insurance policy. The insurance clause details who is responsible for insurance and what kind of coverage they are required to have. Having documentation in a reinsurance agreemen… It is important to note that this template is designed for use with business events and functions. Additionally, any damage and excessive cleanup deposits will … Commercial Lease Insurance Clause. This Agreement is ideal for automobile lease/rentals not involving anyone in the business of selling or leasing vehicles (e.g. 1.2 Interpretation. The total fee is due two (2) weeks prior to your event. These events may range from corporate parties and trade conventions to recruitment fairs and AGMs. This document is compliant with the GDPR (General Data Protection Regulation). It is recommended that you save the document to a location of your choice prior to viewing. You might not want to think about an April snowstorm's effect on your lovely garden ceremony, but if you want to ensure that the catering hall's ballroom will be available, write that into the contract. The “Tenant Improvements” clause in the lease exists in part to address installation of improvements, the ownership and time when title will transfer, and who pays the taxes on TIBs, etc. This Practice Note sets out the types of insurance that should be put in place and highlights the considerations for a practitioner when drafting/negotiating an insurance clause. The initial coverages, policy limits, terms and conditions of the Tenant’s Insurance shall be as set forth in Exhibit 10.1, subject to future adjustments to be evaluated and, if needed, required by Landlord every three (3) Lease Years during the Term. (d) workers' compensation insurance for the Tenant's employees in the amount required by Law. These Venue Hire Terms and Conditions contain the following clauses: 1. The initial coverages, policy limits, terms and conditions of the Tenant’s Insurance shall be as set forth in Exhibit 10.1, subject to future adjustments to be evaluated and, if needed, required by Landlord every three (3) Lease Years during the Term. Venue clauses are important because they give leverage to the party who chooses the location of the Court where the dispute over contract terms will be decided. All fees including tax must be paid in full at the time of booking or at least 30 days prior to the facility usage. Tenant agrees that any changes or modification of this Agreement must be written and signed by Landlord or their agent. The Insurance clause in a commercial lease sets out the respective obligations of the parties as to the type and, in some cases, amounts of insurance that they will each carry. Hire Term 4. Insurance You renting out a venue property to an individual or business. • Miscellaneous costs, such as bar, catering, furniture and equipment rentals are due before the start time of your event. Owning and operating a venue is thus a business in itself. This clause excludes cover for an assumed liability of the insured by warranty, indemnity, guarantee or agreement, to the extent that it exceeds the liability the insured would have had under the general law in respect of the conduct in question, assuming it had still taken place. But be specific about usage, and consider setting a ceiling to trigger billing. The Tenant shall pay all premiums on these policies in full on or before their due dates. It also provides coverage for a given amount of liability, and lists the landlord or their agent as additional interest or insured so that they’ll be notified if the policy lapses, cancels, or does not remain … The Tenant Insurance clause in a commercial lease stipulates that the Tenant must obtain general liability, business interruption, all-risk property, and workers' compensation insurance. Some variants specify the exact quality and form of insurance. The Client may cancel this agreement within five days of the event date. Break clauses should be inserted into rental contracts to protect students financially if they are required to return home in the coming academic year in the event of a second wave of Covid-19. Make sure that you include a clause in your lease agreement that if there is evidence of over-usage, the tenant will pay the difference. HM Land Registry prescribed lease clauses. It will also usually add “any other risks against which the Landlord decides to insure”. 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