(3) Clauses In A Percentage Lease Flashcards
1
Q
When a percentage lease has no minimum, it’s usually attached to a recapture clause(protection), which allows the lessor to cancel if the lessees business volume falls below an expected minimum
A
Recapture Clause
2
Q
In which one party (usually the lessor) agrees not to enter or start a business with a similar profession. This s to control exploiting confidential information and tactics about the lessor
A
Non-Competitive Clause
3
Q
Guessing: where the lessor is allowed to fully check through the lessees sales making sure that nothing is being withheld
A
Examination of books