Modified gross lease
Modified gross lease splits expense responsibility between landlord and tenant according to negotiated terms. It is less standardized than NNN or full-service gross structures, so definitions and exclusions matter.
Read definition →Certificate of occupancy
Certificate of occupancy is local confirmation that a building or space may be occupied for its approved use. It may not equal ready-for-service, because utility energization, commissioning, tenant fit-out, or SLA milestones can remain separate.
Read definition →Service credit
Service credit is a contractual credit owed when service levels are missed. It is a common SLA remedy, but it may be capped and may not compensate for all losses caused by downtime.
Read definition →