A 'Hell or High Water' lease is a provision in certain lease agreements that requires the lessee to continue making rent payments despite any circumstances affecting the lessee or the property involved. This assurance often includes a parent company guarantee to the lessor.
Liquidated damages are a predetermined sum agreed upon in a contract which one party will pay to the other in the event of a breach of contract. This provision aims to cover the non-breaching party's estimated losses without requiring a legal battle.
Renegotiate refers to the process of formally revising the terms of an existing contract between parties, typically to address changes in circumstances, mutual agreement, or to achieve more favorable conditions. This often involves adjustments in areas such as payment terms, interest rates, deadlines, and scope of work.
