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Simple English definitions for legal terms

no-bonus clause

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A quick definition of no-bonus clause:

A no-bonus clause is a part of a lease agreement that limits the damages a tenant can receive if the government takes over the property. It means that the tenant can only receive compensation for any improvements they made to the property and cannot claim the difference between the fixed rent and the market rental value. Condemnation is the act of the government taking over private property for public use, and inverse condemnation is when a property owner seeks compensation for the government taking their property without formal proceedings.

A more thorough explanation:

A no-bonus clause is a provision in a lease agreement that limits the damages a tenant can receive in case of governmental condemnation. This clause prevents the tenant from recovering the difference between the fixed rent and the property's market rental value.

For example, if a tenant has a lease agreement for a property that is condemned by the government, the no-bonus clause would limit the tenant's damages to the value of any improvements made to the property. The tenant would not be able to recover any additional compensation for the loss of the property or the difference between the fixed rent and the market rental value.

This clause is often included in lease agreements to protect landlords from having to pay additional compensation to tenants in case of condemnation. However, it can be disadvantageous for tenants who may lose their property without receiving fair compensation.

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ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
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