Commercial Leases · glossary
Words that make a deadline exact, with no reasonable extra time allowed. Clause 10.5 makes time of the essence of the break, so every date must be met to the day. A break notice one day late fails as completely as one a year late, and the lease runs on. Lease 10.5 · Chapter 9 · see Break clause, Notice (giving a)
Explained in Chapter 9, The Break Clause, and Forfeiture, of Commercial Leases.
The main page for this term is Time of the essence, in Buying Commercial Property.
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