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What is a holding clause?

A Holding Company clause defines the role and status of a holding company within a contractual or corporate structure. Typically, it clarifies that the holding company owns controlling interests in one or more subsidiary companies but does not engage directly in their day-to-day operations.

What is a holdover tenant in NY?

A holdover case is brought to evict a tenant or a person in the apartment who is not a tenant for reasons other than simple nonpayment of rent. A holdover case is much more complicated than a nonpayment case. A holdover proceeding can have many variations.

What is a holdover clause?

What is a holdover clause? When a tenant stays past the end of the lease, without renewing or extending the term, the tenant is a holdover tenant. In that situation, the existence of a holdover clause in a lease contract helps protect the landlords rights, and potentially those of a successor occupant.

What is an example of a termination letter to a tenant?

Dear [Tenants Name], This letter serves as formal notice that your lease agreement for [property address] will terminate on [termination date]. This notice complies with the [state-required notice period]-day requirement specified in our lease agreement.

What is an example of a holdover clause?

Example: Resident shall surrender possession of the Premises to Owner upon the effective date of any termination of this Agreement, and in the event Resident fails to do so Resident shall pay Owner rent (at month-to-month rates determined by Owner) for each day of such holdover, plus expenses or damages suffered by

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What is an example of a holding over clause?

Example of a Holdover Clause If the Tenant remains in possession of the Premises after the expiration of the Lease Term, such possession shall be deemed a month-to-month tenancy terminable upon thirty (30) days written notice by either party.

Who does the holdover clause protect?

A holdover clause is designed to protect the brokerage, and there is no minimum or set time for a holdover period. If your agreement includes a holdover clause, make sure you agree to the length of the holdover period before you sign it.

What does it mean when a tenant is holding over?

What is holding over? Holding over is simply a tenant remaining in occupation of premises once the original term of their letting has come to an end. Holding over the risks. Holding over principally presents risks as a result of the lack of clarity on the legal position of the parties that it creates.

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