Landlord-Friendly Commercial Lease Agreement Template
COMMERCIAL LEASE AGREEMENT
This Commercial Lease Agreement (hereinafter referred to as the "Lease" or this "Agreement") is made and entered into on this [Day] day of [Month], [Year] (the "Effective Date"), by and between:
[Landlord Company Name], a company duly incorporated and existing under the laws of [Country], having its registered office at [Registered Address], registered under number [Company Registration Number] (hereinafter referred to as the "Landlord"), of the one part;
and
[Tenant Full Name], an individual trading as a sole trader under the business name [Business Name], of [Residential/Business Address], holding identification number [ID/Tax Number] (hereinafter referred to as the "Tenant"), of the other part.
The Landlord and the Tenant are hereinafter referred to individually as a "Party" and collectively as the "Parties".
WHEREAS, the Landlord is the lawful owner of and in possession of the commercial premises more particularly described hereinafter;
WHEREAS, the Tenant desires to take on lease the said premises for the conduct of its lawful commercial activities;
WHEREAS, the Landlord has agreed to grant and the Tenant has agreed to accept the lease of the said premises upon the terms, conditions and covenants hereinafter set forth;
NOW, THEREFORE, in consideration of the mutual covenants, agreements, undertakings and promises herein contained, and for other good and valuable consideration, the receipt and sufficiency whereof are hereby mutually acknowledged, the Parties hereto, intending to be legally bound, do hereby covenant and agree as follows:
Demised Premises
The Landlord hereby lets and demises unto the Tenant, and the Tenant hereby takes and accepts from the Landlord, those certain commercial premises situated at [Full Address of Premises], comprising a total lettable area of approximately [Area] square [units], together with all fixtures, fittings and appurtenances therein (hereinafter collectively referred to as the "Demised Premises").
The Demised Premises shall further include such rights of ingress, egress, use of common areas, parking facilities and ancillary rights as are more particularly described herein or as are reasonably necessary for the Tenant's use thereof, subject always to the reservations and conditions set forth in this Lease.
The Landlord reserves unto itself all rights not expressly granted to the Tenant hereunder, including without limitation all rights to the roof, exterior walls, structural elements, service installations, risers, conduits, and the airspace above and the subsoil beneath the Demised Premises.
The Tenant acknowledges that it has inspected the Demised Premises prior to the execution of this Lease and accepts the same in their present "as-is, where-is" condition, and no representation or warranty, whether express or implied, has been made by the Landlord as to the fitness, suitability or condition of the Demised Premises for any particular purpose, save as expressly set forth herein.
The Tenant shall not be entitled to use, occupy or encroach upon any portion of the Landlord's property beyond the Demised Premises, nor shall the Tenant acquire any easement, right or interest in any adjacent land, premises or facility by reason of this Lease.
Any plans, drawings, measurements or dimensions provided by the Landlord in respect of the Demised Premises are indicative only and shall not form the basis of any claim, abatement, or set-off by the Tenant against the Landlord.
The boundaries and extent of the Demised Premises shall be as agreed in writing between the Parties and, in the event of any dispute, as determined by a qualified surveyor appointed by the Landlord at the Tenant's cost.
Term of Lease
The term of this Lease shall be for a fixed period of one (1) year, commencing on [Commencement Date] and expiring on [Expiry Date] (both dates inclusive), unless sooner determined in accordance with the provisions hereof (the "Term").
Possession of the Demised Premises shall be delivered to the Tenant on the Commencement Date, and the Tenant shall take occupation thereof forthwith; any delay in taking occupation shall not postpone the commencement of the Term nor the Tenant's obligation to pay rent and other sums due hereunder.
This Lease shall not confer upon the Tenant any right of renewal, extension or holding over, and the Tenant shall, upon the expiration of the Term, peaceably and quietly deliver up vacant possession of the Demised Premises to the Landlord in accordance with the provisions of this Lease.
Should the Tenant remain in occupation of the Demised Premises after the expiration of the Term without the Landlord's prior written consent, such occupation shall constitute a tenancy at sufferance only, and the Tenant shall be liable to pay to the Landlord, by way of mesne profits and not as rent, a sum equal to twice the monthly rent then prevailing, pro-rated on a daily basis, until such time as vacant possession is delivered.
Any extension of the Term beyond the Expiry Date shall be effective only if agreed in writing and signed by both Parties, and shall be upon such terms and conditions as the Landlord may, in its sole and absolute discretion, require.
Time shall be of the essence in respect of all dates, periods and deadlines stipulated in this Lease.
The Tenant shall have no right to terminate this Lease prior to the Expiry Date save as expressly provided herein, and any purported early termination by the Tenant shall constitute a material breach of this Lease entitling the Landlord to recover all rent and other sums that would have become payable for the balance of the Term, together with such further damages as the Landlord may suffer.
Utilities and Outgoings
The Tenant shall, throughout the Term and any period of occupation thereafter, be solely responsible for and shall promptly pay all charges, assessments, levies, rates, taxes, duties and outgoings of whatsoever nature imposed upon or relating to the Demised Premises or the Tenant's use or occupation thereof.
Without limiting the generality of the foregoing, the Tenant shall pay directly to the relevant suppliers and authorities all charges in respect of electricity, water, gas, sewerage, drainage, telecommunications, internet, waste collection, cleaning, and any other utilities or services consumed, used or supplied to or in respect of the Demised Premises.
The Tenant shall promptly cause all meters serving the Demised Premises (where separately metered) to be transferred into its name upon the Commencement Date, and shall maintain all such accounts in good standing throughout the Term.
Where any utilities, services or outgoings are not separately metered or assessed in respect of the Demised Premises, the Tenant shall pay to the Landlord, on demand, such proportion thereof as the Landlord shall reasonably determine, having regard to the area, usage or such other basis as the Landlord deems fair.
The Tenant shall indemnify and hold the Landlord harmless against all costs, charges, penalties, interest, surcharges and liabilities arising from any failure, delay or default by the Tenant in paying any such utilities, outgoings or other charges when due.
All property taxes, business rates, licence fees and similar imposts levied in respect of the Tenant's business or occupation of the Demised Premises shall be borne exclusively by the Tenant, save that any tax levied directly upon the Landlord in respect of its ownership of the Demised Premises or its receipt of rent shall remain the responsibility of the Landlord.
The Tenant shall, upon written request by the Landlord, promptly produce evidence of payment of all such utilities, charges and outgoings for which it is responsible hereunder.
Any value added tax, goods and services tax or similar transactional tax imposed in connection with the rent or any other sum payable under this Lease shall be payable by the Tenant in addition to such rent or sum, upon issuance of a valid tax invoice by the Landlord.
Rent and Annual Increases
The Tenant shall pay to the Landlord, without demand, deduction, set-off or counterclaim, a base rent in the sum of [Currency] [Amount] per annum (the "Annual Rent"), payable in equal monthly instalments of [Currency] [Amount] each, in advance, on or before the first (1st) day of each calendar month throughout the Term.
The first instalment of rent shall be due and payable on the Commencement Date and shall, if the Commencement Date is not the first day of a calendar month, be pro-rated on a daily basis to cover the period from the Commencement Date to the last day of that calendar month.
All payments of rent and other sums due under this Lease shall be made in [Currency] by electronic transfer to such bank account as the Landlord may from time to time nominate in writing, and shall be deemed paid only upon receipt of cleared funds in such account.
Notwithstanding that the Term is one (1) year, in the event that this Lease is extended or renewed by written agreement of the Parties, the Annual Rent shall be increased with effect from each anniversary of the Commencement Date by a fixed percentage of [Percentage]% per annum, compounded annually over the preceding year's rent.
Any instalment of rent or other sum payable hereunder which is not paid on the due date shall bear interest at the rate of [Interest Rate]% per annum, calculated on a daily basis from the due date until the date of actual payment, both before and after judgment, without prejudice to any other right or remedy of the Landlord.
The Tenant's obligation to pay rent is independent of all other covenants of the Landlord contained herein, and the Tenant shall not be entitled to withhold, abate, deduct or set off any amount from rent for any reason whatsoever save by order of a court of competent jurisdiction.
The Landlord reserves the right to charge an administrative fee of [Currency] [Amount] for each instance of late, dishonoured or returned payment, in addition to interest and any other remedies available.
All sums expressed in this Lease are exclusive of any applicable transactional taxes, which shall be payable by the Tenant in addition thereto.
Security Deposit
Upon the execution of this Lease, the Tenant shall deposit with the Landlord a sum equal to [Number] months' rent, being [Currency] [Amount] (the "Security Deposit"), to be held by the Landlord as security for the due performance and observance by the Tenant of all its covenants and obligations under this Lease.
The Security Deposit shall be held by the Landlord free of any obligation to pay interest thereon to the Tenant, and may be commingled with the Landlord's general funds unless the applicable law requires otherwise.
The Landlord shall be entitled, at its sole discretion and without prejudice to any other right or remedy, to apply the Security Deposit or any part thereof towards the satisfaction of any arrears of rent, damages, costs, expenses or any other sums owing by the Tenant to the Landlord, or towards the cost of remedying any breach of the Tenant's obligations hereunder.
In the event that the Landlord applies any part of the Security Deposit as aforesaid, the Tenant shall, within seven (7) days of written demand, replenish the Security Deposit to its original amount, and failure to do so shall constitute a material breach of this Lease.
The Security Deposit, or such portion thereof as remains after lawful deductions by the Landlord, shall be refunded to the Tenant within [Number] days following the later of (i) the expiry or earlier determination of this Lease, (ii) the delivery of vacant possession of the Demised Premises to the Landlord in the condition required hereunder, and (iii) the final settlement of all accounts between the Parties.
The Security Deposit shall not be treated as or applied in payment of the last month's rent or any other sum due under this Lease, save at the sole discretion of the Landlord.
In the event of any sale, transfer or assignment by the Landlord of its interest in the Demised Premises, the Landlord shall be entitled to transfer the Security Deposit to the transferee, whereupon the Landlord shall be released from all liability in respect thereof.
Permitted Use
The Demised Premises shall be used by the Tenant solely and exclusively for the purpose of [Specific Permitted Use/Nature of Business] (the "Permitted Use"), and for no other purpose whatsoever without the prior written consent of the Landlord, which consent may be withheld in the Landlord's absolute discretion.
The Tenant shall, at its own cost, obtain and at all times maintain in force all licences, permits, consents, approvals and registrations required by any competent authority for the lawful conduct of the Permitted Use at the Demised Premises, and shall produce evidence thereof to the Landlord upon request.
The Tenant shall comply strictly with all applicable laws, by-laws, regulations, codes and ordinances relating to its use and occupation of the Demised Premises, and shall not do or permit to be done any act or thing which may constitute a breach thereof or expose the Landlord to any liability or penalty.
The Tenant shall not use or permit the Demised Premises to be used for any purpose that is illegal, immoral, dangerous, offensive, noxious or injurious, nor for any purpose which may invalidate or increase the premium of any insurance policy effected by the Landlord in respect of the Demised Premises.
The Tenant shall not cause or permit any nuisance, annoyance, disturbance, obstruction or inconvenience to the Landlord, other occupiers of adjoining premises, or to any member of the public, and shall conduct its business in a reputable and orderly manner.
The Tenant shall not store, handle or dispose of any hazardous, toxic, flammable or dangerous substances or materials at the Demised Premises save such as are ordinarily and necessarily used in the Permitted Use and then only in strict compliance with all applicable laws and regulations.
The Tenant shall not display any signage, advertisement, notice or other visible identification upon the exterior of the Demised Premises or in any common areas without the prior written approval of the Landlord as to size, design, location and materials.
The Tenant shall not cease to carry on business at the Demised Premises or leave the Demised Premises vacant or unoccupied for a continuous period exceeding [Number] consecutive days without the prior written consent of the Landlord.
Repairs and Maintenance
The Tenant shall, at its own cost and expense, keep the interior of the Demised Premises, including all internal walls, floors, ceilings, doors, windows, fixtures, fittings, electrical installations, plumbing, sanitary ware and other installations therein, in good and tenantable repair, order and condition throughout the Term, fair wear and tear excepted.
The Tenant shall promptly make good any damage caused to the Demised Premises or to any part of the Landlord's property by the act, omission, negligence or default of the Tenant, its employees, agents, contractors, invitees or visitors.
The Landlord shall be responsible for the structural repair and maintenance of the exterior walls, roof, foundations, load-bearing elements and main service installations of the building of which the Demised Premises form part, save where any such repair is necessitated by the act, omission or default of the Tenant, in which case the cost thereof shall be reimbursed by the Tenant to the Landlord on demand.
The Tenant shall maintain all glass, windows and doors forming part of the Demised Premises in good condition and shall replace any such items that may be broken, cracked or damaged during the Term, regardless of the cause thereof.
The Tenant shall keep the Demised Premises clean, tidy and free from pests, vermin, rubbish and refuse, and shall arrange for the regular collection and removal of waste at its own expense in accordance with the requirements of the competent authorities.
The Tenant shall, at the request of the Landlord and at the Tenant's own cost, enter into and maintain throughout the Term service and maintenance contracts with reputable contractors for the regular servicing of any air-conditioning, heating, ventilation, fire protection and other mechanical or electrical installations within the Demised Premises.
The Tenant shall promptly notify the Landlord in writing of any defect, damage, leak, breakdown or other condition at the Demised Premises which may require attention by the Landlord, and the Tenant shall be liable for any loss or damage arising from any delay in giving such notice.
The Landlord shall not be liable for any loss, damage, inconvenience or interruption suffered by the Tenant arising from any defect, failure, breakdown or inadequacy of any service, installation, utility or facility serving the Demised Premises, save to the extent directly caused by the Landlord's gross negligence or wilful default.
Assignment and Subletting
The Tenant shall not, without the prior written consent of the Landlord (which consent may be granted, withheld or made conditional in the Landlord's sole and absolute discretion), assign, transfer, charge, mortgage, sublet, part with or share possession or occupation of the whole or any part of the Demised Premises, nor permit any other person to use or occupy the same.
Any purported assignment, subletting, parting with possession or sharing of occupation in breach of this clause shall be null and void and shall constitute a material breach of this Lease entitling the Landlord to terminate the same forthwith.
In the event that the Landlord grants its consent to any assignment or subletting, the Tenant shall remain primarily liable for all obligations under this Lease notwithstanding such assignment or subletting, and shall procure that the assignee or sub-tenant executes a direct covenant with the Landlord to observe and perform the terms hereof.
The Tenant shall pay to the Landlord, on demand, all reasonable legal, administrative and other costs and expenses incurred by the Landlord in connection with any application for consent under this clause, whether or not such consent is ultimately granted.
Any change in the ownership, control or constitution of the Tenant's business, including without limitation the admission of partners, the transfer of the Tenant's business to a company, or the sale of a substantial part of the Tenant's business assets, shall be deemed to be an assignment requiring the prior written consent of the Landlord.
The Landlord shall at all times be entitled to assign, transfer, charge or otherwise deal with its interest in the Demised Premises and in this Lease without the consent of or notice to the Tenant, and the Tenant shall, upon request, execute such acknowledgments and documents as may reasonably be required to give effect thereto.
No waiver by the Landlord of its rights under this clause in any particular instance shall constitute a waiver in respect of any subsequent assignment, subletting or dealing.
Alterations and Improvements
The Tenant shall not make or permit to be made any alteration, addition, improvement or modification to the Demised Premises, whether structural or non-structural, internal or external, without the prior written consent of the Landlord, which consent may be granted, withheld or conditioned in the Landlord's absolute discretion.
Any such alteration, addition, improvement or modification approved by the Landlord shall be carried out by the Tenant at its own cost and expense, in a good and workmanlike manner, by contractors approved in writing by the Landlord, in accordance with plans and specifications approved by the Landlord, and in compliance with all applicable laws and the requirements of all competent authorities.
The Tenant shall, prior to the commencement of any such works, obtain and furnish to the Landlord copies of all requisite permits, licences and approvals, and shall effect and maintain in force such insurances as the Landlord may reasonably require in connection with the works.
Upon the expiration or earlier determination of this Lease, the Tenant shall, if so required by the Landlord, remove any such alterations, additions, improvements or modifications and reinstate the Demised Premises to their original condition at the Tenant's own cost; alternatively, at the Landlord's election, the same shall remain in the Demised Premises and become the property of the Landlord without compensation to the Tenant.
The Tenant shall indemnify and hold the Landlord harmless against all claims, liabilities, costs, damages and expenses arising from any works carried out by or on behalf of the Tenant at the Demised Premises, including any claim by any contractor, subcontractor, employee or third party.
The Tenant shall not affix or install any plant, machinery, equipment or signage that may impose a load exceeding the designed capacity of the Demised Premises, nor interfere with any structural element, service installation, fire safety system or means of escape.
All fixtures and fittings installed by the Tenant that are not removed upon the determination of this Lease (and whose removal has not been required by the Landlord) shall, at the Landlord's option, become the absolute property of the Landlord without any payment or compensation to the Tenant.
Insurance and Indemnity
The Tenant shall, at its own cost, effect and maintain in force throughout the Term the following insurances with reputable insurers approved by the Landlord: (i) public liability insurance in respect of the Demised Premises for a sum of not less than [Currency] [Amount] per occurrence; (ii) insurance covering the Tenant's own fixtures, fittings, stock, equipment and other contents against all usual risks for their full reinstatement value; (iii) employer's liability insurance to the extent required by law; and (iv) such other insurances as the Landlord may from time to time reasonably require.
The Landlord shall effect and maintain in force a policy of insurance covering the building of which the Demised Premises form part against such risks and for such sum as the Landlord in its discretion considers appropriate, and the Tenant shall reimburse to the Landlord, on demand, the premium (or a fair proportion thereof) attributable to the Demised Premises.
The Tenant shall, upon the Landlord's written request, produce evidence of all insurances required to be maintained by it hereunder, including copies of policies and receipts for payment of premiums.
The Tenant shall not do or permit to be done anything at the Demised Premises which may vitiate, invalidate or render void any insurance policy effected by the Landlord, nor anything which may result in an increase in premium thereof, and in the latter case the Tenant shall indemnify the Landlord against such increase.
The Tenant shall indemnify, keep indemnified and hold harmless the Landlord against all actions, claims, demands, proceedings, losses, damages, liabilities, costs and expenses (including legal costs on a full indemnity basis) suffered or incurred by the Landlord arising directly or indirectly from (i) the Tenant's use or occupation of the Demised Premises; (ii) any breach by the Tenant of its obligations under this Lease; (iii) any act, omission, negligence or default of the Tenant, its employees, agents, contractors, invitees or visitors; or (iv) any accident, injury, loss or damage occurring at the Demised Premises.
The Landlord shall not be liable to the Tenant for any loss, damage, injury or inconvenience caused by any act, omission or default of any other occupier of any adjoining or neighbouring premises, nor by any accident, fire, flood, breakdown, failure or event beyond the Landlord's reasonable control.
The Tenant's obligations under this clause shall survive the expiration or earlier determination of this Lease.
Any insurance proceeds received by the Tenant in respect of damage to the Demised Premises shall be applied first towards the reinstatement thereof, unless otherwise directed in writing by the Landlord.
Landlord's Rights of Access
The Landlord and its duly authorised agents, employees, contractors and professional advisers shall, at all reasonable times and upon reasonable prior notice (save in the case of emergency, when no notice shall be required), be entitled to enter upon the Demised Premises for any of the following purposes: (i) to inspect the state and condition thereof; (ii) to carry out any repairs, maintenance or works for which the Landlord is responsible or which the Tenant has failed to carry out; (iii) to read meters; (iv) to show the Demised Premises to prospective purchasers, mortgagees, tenants or other interested persons; (v) to exercise any right or remedy of the Landlord; and (vi) for any other reasonable purpose connected with the Landlord's interest in the Demised Premises.
The Tenant shall provide the Landlord and its representatives with full and unimpeded access to all parts of the Demised Premises for the purposes aforesaid, and shall not place any obstruction or impediment thereto.
In exercising its rights of access, the Landlord shall endeavour to cause as little disturbance as reasonably practicable to the Tenant's business, but shall not be liable for any inconvenience, loss or disruption suffered by the Tenant as a result of any lawful exercise of such rights.
Where the Landlord has given the Tenant written notice of any disrepair or breach of covenant and the Tenant has failed to remedy the same within [Number] days (or such shorter period as may be reasonable in the circumstances), the Landlord may enter the Demised Premises and carry out the necessary works, and the Tenant shall reimburse the Landlord all costs and expenses so incurred, together with an administrative charge of [Percentage]% thereon, as a debt due on demand.
During the final six (6) months of the Term, the Landlord shall be entitled to affix to the exterior of the Demised Premises such notices as it may require advertising the premises for sale or re-letting, and the Tenant shall not remove or obscure any such notices.
The Tenant shall, upon request, provide the Landlord with keys, access codes and other means of entry to all parts of the Demised Premises, and shall notify the Landlord of any change thereto.
The Landlord's rights under this clause are without prejudice to any other right or remedy available to the Landlord under this Lease or at law.
Default and Remedies
Each of the following events shall constitute an "Event of Default" by the Tenant under this Lease: (i) failure to pay any instalment of rent or other sum due hereunder within [Number] days of the due date, whether formally demanded or not; (ii) breach of any other covenant, obligation or provision of this Lease which, if capable of remedy, is not remedied within [Number] days of written notice from the Landlord requiring remedy; (iii) the Tenant becoming insolvent, bankrupt, or unable to pay its debts as they fall due, or entering into any composition or arrangement with its creditors; (iv) the levying of any execution, distress or attachment upon the Tenant's assets at the Demised Premises; (v) the cessation by the Tenant of its business at the Demised Premises; or (vi) the giving of any materially false or misleading information by the Tenant to the Landlord in connection with this Lease.
Upon the occurrence of any Event of Default, the Landlord shall be entitled, without prejudice to any other right or remedy available to it, to re-enter the Demised Premises or any part thereof in the name of the whole, whereupon this Lease shall absolutely determine, but without releasing the Tenant from any antecedent liability or breach.
Upon any such re-entry or termination, the Tenant shall remain liable to the Landlord for all rent and other sums accrued due up to the date of termination, together with damages for the Landlord's loss of the bargain, including the loss of rent and other sums that would have been payable for the balance of the Term, discounted to present value, less any rent reasonably obtainable by the Landlord from re-letting.
The Landlord shall be entitled to recover from the Tenant all costs and expenses (including legal fees on a full indemnity basis) incurred in enforcing its rights under this Lease, pursuing any Event of Default, or recovering possession of the Demised Premises.
The rights and remedies of the Landlord under this Lease are cumulative and are in addition to, and not in substitution for, any rights or remedies available at law or in equity.
No failure or delay by the Landlord in exercising any right or remedy shall constitute a waiver thereof, nor shall any single or partial exercise preclude any further or other exercise of such or any other right or remedy.
The Landlord shall be entitled to appropriate any payment received from the Tenant to such sums owing by the Tenant as the Landlord may in its discretion determine, notwithstanding any purported appropriation by the Tenant.
Termination and Surrender
Upon the expiration or earlier determination of this Lease by whatsoever means, the Tenant shall peaceably and quietly yield up and surrender the Demised Premises to the Landlord with vacant possession, in the state of repair and condition required by this Lease.
Prior to such surrender, the Tenant shall, at its own cost: (i) remove all its goods, chattels, stock, equipment and personal property from the Demised Premises; (ii) remove any alterations, additions or improvements required by the Landlord to be removed and reinstate the Demised Premises accordingly; (iii) make good any damage caused by such removal; (iv) clean the Demised Premises to a professional standard; and (v) deliver up all keys, access cards, codes and operating manuals to the Landlord.
Any goods, chattels or property of the Tenant remaining at the Demised Premises after the date of surrender shall be deemed to have been abandoned by the Tenant, and the Landlord may remove, store, sell or dispose of the same at the Tenant's cost and risk, without any liability for loss or damage, and apply the proceeds (if any) in or towards satisfaction of any sums owing by the Tenant.
The Tenant shall settle in full all outstanding rent, charges, utilities, outgoings and other sums due to the Landlord on or before the date of surrender, and shall provide evidence of payment of all utility accounts and other third-party charges in respect of the Demised Premises.
The Landlord shall be entitled to carry out a joint inspection of the Demised Premises with the Tenant prior to or upon surrender, and any schedule of dilapidations prepared by or on behalf of the Landlord shall be prima facie evidence of the Tenant's liability thereunder.
Where the Tenant has failed to comply with its reinstatement or repair obligations, the Landlord may carry out the necessary works at the Tenant's cost, and the Tenant shall remain liable to pay to the Landlord a sum equivalent to the rent that would have been payable during the period reasonably required to carry out such works.
Those provisions of this Lease which by their nature are intended to survive termination, including without limitation the Tenant's indemnities, obligations in respect of outstanding sums, and the provisions as to dispute resolution and governing law, shall continue in full force and effect notwithstanding such termination.
Notices
Any notice, demand, consent, approval or other communication required or permitted to be given under this Lease shall be in writing and in the English language, and shall be delivered personally, sent by prepaid registered post, sent by internationally recognised courier, or sent by electronic mail to the address of the recipient Party set out below (or such other address as may be notified in writing from time to time).
For the Landlord: Address: [Landlord Notice Address]; Attention: [Name/Title]; Email: [Landlord Email].
For the Tenant: Address: [Tenant Notice Address]; Attention: [Tenant Name]; Email: [Tenant Email].
A notice shall be deemed to have been duly served: (i) if delivered personally, at the time of delivery; (ii) if sent by registered post, on the third (3rd) business day following the date of posting; (iii) if sent by courier, on the date of delivery as evidenced by the courier's records; and (iv) if sent by electronic mail, upon transmission, provided no delivery failure notification is received.
Any notice served on a day that is not a business day in the place of receipt, or after 5:00 p.m. on a business day, shall be deemed to have been served on the next following business day.
Each Party shall promptly notify the other in writing of any change in its address or contact details for the service of notices, and failure to do so shall not affect the validity of any notice given to the last notified address.
The requirement for notice in writing shall be deemed satisfied by communications transmitted by electronic mail, provided the same can be reproduced in legible form.
Governing Law and Dispute Resolution
This Lease, and any dispute, claim, controversy or difference arising out of or in connection with it (including non-contractual disputes), shall be governed by and construed in accordance with the laws of [Country] (being the Landlord's country), without regard to its conflict of laws principles.
The Parties hereby irrevocably submit to the exclusive jurisdiction of the courts of [Country] for the resolution of all disputes, claims, controversies or differences arising out of or in connection with this Lease, and each Party waives any objection it may now or hereafter have to the venue or convenience of such forum.
Prior to the commencement of any judicial proceedings, the Parties shall use reasonable endeavours to resolve any dispute amicably through good faith negotiations between their respective senior representatives for a period of not less than [Number] days from written notice of the dispute, provided that nothing in this clause shall prevent either Party from seeking urgent injunctive, interim or conservatory relief at any time.
The Landlord shall additionally be entitled, at its sole option, to institute proceedings against the Tenant in any other court of competent jurisdiction where the Tenant has assets or where enforcement of any judgment may be sought.
In any action or proceeding to enforce or interpret this Lease, the prevailing Party shall be entitled to recover its reasonable costs and expenses, including legal fees on a full indemnity basis, from the non-prevailing Party.
The invalidity, illegality or unenforceability of any particular remedy or forum selection shall not affect the validity of the remaining provisions of this clause.
Miscellaneous Provisions
This Lease constitutes the entire agreement between the Parties with respect to its subject matter and supersedes all prior negotiations, representations, understandings and agreements, whether written or oral, relating thereto; each Party acknowledges that it has not relied upon any statement, representation or warranty not expressly set forth herein.
No amendment, variation or modification of this Lease shall be effective unless made in writing and signed by both Parties or their duly authorised representatives.
No waiver by either Party of any breach or default by the other Party shall constitute a waiver of any subsequent or continuing breach or default, and no waiver shall be effective unless given in writing.
If any provision of this Lease is held by a court of competent jurisdiction to be invalid, illegal or unenforceable, such provision shall be deemed severed and the remaining provisions shall continue in full force and effect; the Parties shall negotiate in good faith to replace any such severed provision with a valid provision that most closely reflects the Parties' original intention.
Nothing in this Lease shall be deemed to constitute a partnership, joint venture, agency, employment or similar relationship between the Parties, and neither Party shall have authority to bind or incur liability on behalf of the other.
This Lease shall be binding upon and enure to the benefit of the Parties and their respective successors, permitted assigns and personal representatives.
A person who is not a party to this Lease shall have no right to enforce any term thereof.
This Lease may be executed in any number of counterparts, each of which when executed shall constitute an original, and all of which together shall constitute one and the same instrument; signatures transmitted by electronic means shall be deemed valid and binding.
The headings in this Lease are for convenience only and shall not affect its construction or interpretation; words importing the singular include the plural and vice versa, and references to one gender include all genders.
IN WITNESS WHEREOF, the Parties hereto have caused this Commercial Lease Agreement to be executed on the day and year first above written.
SIGNED for and on behalf of the LANDLORD:
[Landlord Company Name]
By: ______________________________
Name: [Authorised Signatory Name]
Title: [Title/Position]
Date: ____________________________
Company Seal (if applicable):
Witness:
Name: ___________________________
Address: _________________________
Signature: ________________________
SIGNED by the TENANT:
[Tenant Full Name], trading as [Business Name]
By: ______________________________
Name: [Tenant Name]
Capacity: Sole Trader
Date: ____________________________
Witness:
Name: ___________________________
Address: _________________________
Signature: ________________________