|
|
|
| Welcome | |
|
Welcome to LeaseLanguage.com. Our mission is to provide Lease Negotiators with the tools needed to Open Stores Faster! The heart of LeaseLanguage.com is the "Parts Book," which contains over 1,000 "canned" lease provisions, or "Parts," gathered from the negotiation of thousands of leases over the past 30 years. |
|
| Interesting Research Results | |
|
Our experience and research has provided us with some very interesting information. Most experienced Lease Negotiators do not draft lease provisions from scratch. Rather, they primarily use two resources. One, they search their own physical or computer files for a previous lease that contains the same or similar concept. Or two, they call someone in a relatively small network, often outside their firm or company. We were somewhat surprised to learn why experienced Lease Negotiators seldom use form books -- there are usually too many blanks to complete. They would rather "tweak" completed language of a similar concept than add remedial information to a bunch of blanks. |
|
| Open Stores Faster! | |
|
We have decided that the best way to explain to you the real-life benefits of LeaseLanguage.com is to provide a few real-life examples. We have provided free access to each Part referred to in the following examples. Try it out and see for yourself how LeaseLanguage.com will help you Open Stores Faster! |
|
| Example 1 -- No One is Too Big | |
|
Atty. R is with one of the largest law firms in the world. While negotiating a lease for an entertainment complex to be located in Asia, it was agreed that if the landlord ever charged for parking, the tenant would be entitled to validate parking for its customers. Atty. R thought the provision was rather straight forward, but decided to call a colleague who had done many similar deals. The colleague recalled from his memory a deal he did four years earlier that addressed the parking validation issue. He then searched the archive files on his computer and found the zipped computer file containing all of the documents for that previous deal, unzipped the lease from the zipped computer file, and emailed it to Atty. R. Atty. R then opened the file on his word processor, search "validat" using the find feature, copied the language to his current lease, confirmed the concept was as straightforward as he originally thought, and tweaked the language to make it fit his document. The total time it took was over 35 minutes. At Atty. R's rate of $250 per hour, the total cost was over $145. Using LeaseLanguage.com, it took less than 2 minutes to launch the site, search "validat" in the Lease Language Locator, find the correct part in the search results, and copy and tweak it. Clearly, LeaseLanguage.com will not only save time and cost, but also Open Stores Faster! |
|
|
Atty. T routinely acquiesces to a tenant's request that landlord will keep confidential tenant's Adjusted Gross Sales . However, she knows that such a provision must be subject to some typical exceptions (landlord's lenders, bona fide prospective purchasers, courts, etc.). Being a typical conscientious draftsperson, she refuses to simply provide for the confidentiality and not the exceptions, even if she is trying to make the overnight courier deadline. Using LeaseLanguage.com, Atty. T merely has to enter "confiden" in the Lease Language Locator to find the part she needs. The quality of the part allows Atty. T to produce quality documents, and the speed and ease of the Lease Language Locator allows her to make the overnight courier deadline, and thus Open Stores Faster! |
|
|
Mr. D works with the LeaseLanguage.com Standard Lease Form, which provides that the tenant represents there were no brokers involved, but does not have a mutual representation from the landlord. During negotiations, if he agrees to make the brokerage provision mutual, then he merely writes "mutual" in the margin. His assistant knows what is meant by the written notation. The assistant proceeds to edit the document accordingly; it's a simple revision, thus the assistant doesn't bother taking the time to open any previous leases. Nevertheless, the nouns are revised, the verbs conjugated, and of course, the draft is proofread. Using LeaseLanguage.com, the assistant merely goes to the Brokerage Section of the General Provisions Article, clicks on the substitute Part, and cuts and pastes it over the standard language. |
|
| Thank You | |
|
Thank you for taking the time to learn more about LeaseLanguage.com. We hope our continuous efforts will allow you to Open Stores Faster! Good Luck, The LeaseLanguage.com Team |
|