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TXR 1303 — Commercial Real Estate Listing Agreement, Exclusive Right to Sublease

This listing agreement is used when a commercial tenant hires a broker to find a sublessee for all or part of leased commercial space. It establishes the broker's exclusive right to sublease, covers the relationship between the master lease and sublease, and provides fee structures for subleases, re

Source: TXR
Form Number: 1303
Category: Other
Revised: July 8, 2022

Used For

Commercial Sales, Residential Leases

Form Outline

The TXR 1303 form is organized into the following sections:

  1. Parties
    Establishes the tenant-broker agency relationship for subleasing.
  2. Definitions
    Defines Property, Master Lease, Sublease, and Sublessee -- foundational terms unique to the sublease context.
  3. Listing Price
    Establishes sublease rental rate and terms, constrained by the master lease expiration and terms.
  4. Term
    Sets the listing period for the sublease marketing effort.
  5. Broker's Fee
    Defines broker compensation for subleasing with the important caveat that fees are not payable without landlord consent to sublease.
  6. Exclusions
    Handles prior broker obligations through named exclusions.
  7. Access to the Property
    Grants broker access to the property for sublease showings.
  8. Cooperation with Other Brokers
    Establishes cooperation and fee sharing with other brokers.
  9. Intermediary
    Addresses intermediary representation when broker represents both tenant and prospective sublessee.
  10. Confidential Information
    Protects tenant's confidential information.
  11. Broker's Authority
    Defines broker's marketing scope with signage subject to master lease/landlord permission.
  12. Representations
    Sets out tenant's representations including that tenant is not in breach of the master lease.
  13. Tenant's Additional Promises
    Defines tenant obligations, notably the requirement to involve broker in all master lease negotiations.
  14. Limitation of Liability
    Limits broker liability and requires tenant indemnification.
  15. Special Provisions
    Space for custom terms.
  16. Default
    Defines default consequences.
  17. Mediation
    Requires mediation before litigation.
  18. Attorney's Fees
    Attorney's fees for prevailing party.
  19. Addenda
    Lists addenda; notably includes the Master Lease itself as a required attachment.
  20. Agreement of the Parties
    Entire agreement, assignability, governing law, and other standard provisions.
  21. Additional Notices
    Includes critical notice that tenant may not sublease without landlord's prior consent under Texas Property Code.

How RaiderX Agents Use This Form

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