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TXR 2126 — Commercial Lease Rent Forbearance Agreement

Provides a structured framework for a landlord to temporarily reduce a commercial tenant's rent obligations during a period of financial hardship. The agreement defines a forbearance period with minimum payment percentages for base and additional rent, then establishes a repayment schedule for the d

Source: TXR
Form Number: 2126
Category: Other
Revised: April 3, 2020

Used For

COMMERCIAL_LEASING

Form Outline

The TXR 2126 form is organized into the following sections:

  1. Property Identification
    Links the forbearance agreement to a specific commercial lease by property address.
  2. Forbearance Period and Reduced Payments
    Defines the forbearance period dates and the minimum percentages of base rent and additional rent the tenant must pay during that period.
  3. Deferred Rent Repayment
    Establishes the repayment schedule for deferred rent in equal monthly installments after the forbearance period, with no late charges for on-time payments.
  4. Ongoing Lease Obligations
    Clarifies that the forbearance only applies to the specified rent reductions — all other lease obligations remain in full effect.
  5. Tenant's Rights Upon Compliance
    Protects the compliant tenant by guaranteeing continued occupancy and immunity from eviction or other remedies for the rent shortfall during the forbearance period.
  6. Default Consequences
    Establishes that non-compliance triggers default of both the forbearance agreement and the lease, waives the landlord's obligation to re-send previously delivered default notices, and gives the landlord full access to lease remedies.
  7. Time is of the Essence
    Makes timely payment an absolute requirement with no flexibility for late payments, reinforcing that deadlines are not approximate.
  8. Landlord and Tenant Signatures
    Execution section requiring both parties' signatures with space for two authorized representatives each.

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