Event Space License Agreement (Pro-Licensor)

by Practical Law Real Estate

This Standard Document outlines a license agreement between an owner of an event space and a licensee, which may be an individual or a company, for the use of the space during a specified time in exchange for a license fee. The document emphasizes the distinction between a license and a lease, highlighting the nonpossessory, revocable nature of a license, which does not convey any real estate interest. It details the terms of use, including event date, time, fees, and conditions for revocation. The agreement also covers important considerations such as insurance requirements, compliance with laws, and indemnification clauses. This Standard Document is particularly beneficial for licensors seeking flexibility and reduced risk, as it allows for the revocation of the license and the use of self-help measures for eviction. Drafted primarily in favor of the owner, this document includes integrated notes offering key explanations and negotiation tips for both parties. Although license agreements are typically governed by state law, this jurisdictionally-neutral template is applicable across all states.