Understanding Legal Clause Information

As an alternative or in addition to using log information, you can set up legal clauses in the Legal Clause Information program (P1570). You can set up legal clause information by lease or by tenant, but not both. You use legal clause information to access and track option types and related lease information for retail and commercial leases and to store this information in one location without having to refer to the actual lease. For example, after you establish an option type, such as early termination or first right of refusal, you can further define the option types with corresponding details such as beginning dates, end dates, notice dates, critical dates, space details, and associated option amounts.

The system uses the Legal Clauses table (F1570) to track information at the source section or paragraph level of the original lease, and associates all of the related information by using a legal clause number key that is assigned through the next numbers feature.

Additionally, the system maintains legal clause information in these tables:

• Legal Clause Options Audit table (F15701)

• Legal Clause Space Detail table (F15702)

• Legal Clause Space Detail Audit table (F157021)

• Legal Clause Amounts table (F15703)

As an alternative to reviewing legal clause information online, you can generate these reports to review critical dates and corresponding information:

• Legal Clause Report (R15710).

• Legal Clause Options Audit Report (R157101).

• Space Detail Audit Report (R157102).