Commercial Lease Agreement Qld Template

COMMERCIAL LEASE AGREEMENT QLD TEMPLATE FREE

1. Document Preamble & Recitals

THIS COMMERCIAL LEASE AGREEMENT (the "Agreement") is entered into and made effective as of this [Day] day of [Month], [Year] (the "Effective Date"), by and between:

LANDLORD: [Landlord Legal Name], having its principal place of business/residential address at [Landlord Address], ABN/ACN: [Landlord ABN/ACN] (hereinafter referred to as the "Landlord"); and

TENANT: [Tenant Legal Name], having its principal place of business/registered office at [Tenant Address], ABN/ACN: [Tenant ABN/ACN] (hereinafter referred to as the "Tenant").

RECITALS:

WHEREAS, the Landlord is the registered proprietor of the real property situated in the State of Queensland, more particularly described herein; and

WHEREAS, the Landlord desires to lease the Premises to the Tenant, and the Tenant desires to take on lease the Premises from the Landlord, subject to the terms, covenants, and conditions hereinafter set forth; and

WHEREAS, this Agreement is intended to operate as a binding commercial leasehold demise governed by the laws of the State of Queensland, Australia, including, where applicable, the Property Law Act 1974 (Qld) and the Retail Shop Leases Act 1994 (Qld) (if classified as a retail shop lease).

NOW, THEREFORE, in consideration of the mutual covenants, promises, and valuable consideration contained herein, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

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2. Operational Definitions

For the purposes of this Agreement, the following terms shall have the respective meanings ascribed to them below:

1. "Act" means the Property Law Act 1974 (Qld), the Retail Shop Leases Act 1994 (Qld), or any successor legislation governing commercial or retail leasing within the State of Queensland.
2. "Base Rent" means the annual rental sum of [Written Dollar Amount] ([$0.00]) exclusive of GST, payable in equal monthly installments in advance.
3. "Commencement Date" means [Commencement Date].
4. "Exiting Date" means [Expiry Date], unless the Term is lawfully terminated or renewed pursuant to the provisions of this Agreement.
5. "Force Majeure" means an event or circumstance beyond the reasonable control of a Party, including acts of God, war, terrorism, civil commotion, epidemics, pandemics, government restrictions, strikes, lockouts, fire, flood, or earthquake, which prevents that Party from performing its obligations under this Agreement.
6. "GST" means the Goods and Services Tax imposed under the A New Tax System (Goods and Services Tax) Act 1999 (Cth) and associated legislation.
7. "Interest Rate" means the rate equivalent to the Commonwealth Bank of Australia corporate overdraft reference rate plus two percent (2%) per annum, calculated daily.
8. "Outgoings" means all rates, taxes, assessments, levies, insurance premiums, maintenance costs, and utility charges attributable to the Premises as specified in Schedule A.
9. "Permitted Use" means [Description of Permitted Use, e.g., Professional Office / Retail Store] and for no other purpose whatsoever without the prior written consent of the Landlord.
10. "Premises" means the commercial property situated at [Property Address, Suburb, State, Postcode], comprising approximately [Square Meters] square meters, including all fixtures, fittings, and appurtenances as delineated in the floor plan annexed hereto as Schedule B.
11. "Security Deposit" means the unconditional bank guarantee or cash bond equal to [Number] months' Rent, being the sum of [Written Dollar Amount] ([$0.00]).
12. "Term" means the duration of this lease, commencing on the Commencement Date and expiring on the Expiry Date, including any exercised Option Period.

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3. Substantive Terms & Obligations

3.1 Grant and Term

The Landlord hereby demises and leases the Premises to the Tenant for the Term, subject to the covenants, rents, and conditions reserved herein, to have and to hold the same unto the Tenant strictly for the Permitted Use.

3.2 Rent and Payment Mechanics

(a) The Tenant covenants to pay the Base Rent to the Landlord, or to such other person as the Landlord may direct in writing, by equal monthly installments in advance on the first (1st) day of each calendar month without deduction, set-off, or demand. (b) The first installment of Base Rent shall be apportioned on a per-diem basis if the Commencement Date falls on a day other than the first day of a calendar month. (c) All monetary obligations under this Agreement are exclusive of GST. The Tenant shall pay to the Landlord, concurrently with any payment of Rent or Outgoings, an amount equal to any GST payable by the Landlord in respect of such taxable supply.

3.3 Security Deposit

(a) On or before the execution of this Agreement, the Tenant shall lodge with the Landlord the Security Deposit as security for the due and punctual performance of all the Tenant's obligations hereunder. (b) If the Tenant defaults in the performance of any covenant or the payment of Rent, the Landlord may draw upon the Security Deposit to remedy such default without prejudice to any other legal remedy available. (c) The Landlord shall refund the balance of the Security Deposit (without interest) to the Tenant within thirty (30) business days following the expiration of the Term and the vacant surrender of the Premises, provided the Tenant has fully performed all obligations.

3.4 Outgoings

The Tenant shall pay or reimburse the Landlord for [Percentage]% of all Outgoings relating to the Premises and the building of which it forms part, within fourteen (14) days of receiving a written demand accompanied by supporting invoices and tax statements.

3.5 Use and Compliance with Laws

(a) The Tenant shall use the Premises strictly for the Permitted Use and shall not conduct any noxious, offensive, or illegal trade or activity. (b) The Tenant shall, at its sole cost and expense, comply with all Commonwealth, State, and Local Government laws, statutes, regulations, bylaws, and workplace health and safety requirements applicable to the Premises and the Permitted Use.

3.6 Maintenance, Repairs, and Alterations

(a) The Tenant shall keep the interior of the Premises in good, clean, and tenantable repair and condition, fair wear and tear excepted. (b) The Landlord shall maintain the structural elements of the building, including the roof, foundations, and primary exterior walls, unless damage is caused by the negligent or willful acts of the Tenant, its agents, or invitees. (c) The Tenant shall not make any structural alterations, additions, or improvements to the Premises without obtaining the prior written consent of the Landlord, which consent shall not be unreasonably withheld or delayed.

3.7 Representations and Warranties

(a) The Landlord represents and warrants that it has the full legal right, power, and authority to enter into this Agreement and to lease the Premises to the Tenant for the Term. (b) The Tenant represents and warrants that it is duly incorporated, validly existing under the laws of its jurisdiction of incorporation, and possesses the requisite financial capacity and corporate authorization to execute and perform its obligations under this Agreement.

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4. Default, Termination, and Remedies

4.1 Events of Default

The occurrence of any of the following shall constitute a material breach and "Event of Default" under this Agreement: (a) The Tenant fails to pay Base Rent, Outgoings, or any other monetary sum within fourteen (14) business days after the due date; (b) The Tenant breaches or fails to observe any non-monetary covenant, condition, or restriction contained herein; (c) The Tenant becomes insolvent, enters into external administration, liquidation, voluntary administration, or has a receiver or manager appointed over its assets; or (d) The Tenant abandons or vacates the Premises for a continuous period exceeding twenty-one (21) business days without the Landlord's prior written consent.

4.2 Notice to Cure and Cure Period

Upon the occurrence of an Event of Default, the Landlord shall serve a formal written notice specifying the nature of the breach upon the Tenant. The Tenant shall have a period of thirty (30) business days from the date of receipt of such notice to rectify the default (the "Cure Period"), provided that for monetary defaults, the Landlord may specify a shorter cure period pursuant to statutory requirements.

4.3 Remedies of the Landlord

If the Event of Default is not cured within the stipulated Cure Period, the Landlord may, at its sole election and without prejudice to any other rights or remedies: (a) Terminate this Agreement by re-entering and taking possession of the Premises; (b) Sue the Tenant for all past due Rent, damages, and consequential losses flowing from the breach; (c) Recover interest on all overdue monies at the Interest Rate, calculated from the due date until the date of actual payment; and (d) Offset or draw down upon the Security Deposit to cover outstanding losses, costs, or damages.

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5. Boilerplate Legal Provisions

5.1 Severability

If any provision of this Agreement is held to be invalid, illegal, or unenforceable by a court or tribunal of competent jurisdiction, such provision shall be severed to the extent of its invalidity, and the remaining provisions of this Agreement shall remain in full force and effect.

5.2 Entire Agreement

This Agreement, together with any schedules or annexures expressly incorporated herein, constitutes the entire agreement between the Parties concerning the subject matter hereof and supersedes all prior negotiations, representations, warranties, understandings, or agreements, whether oral or written.

5.3 Force Majeure

Neither Party shall be held liable for any failure or delay in fulfilling the terms of this Agreement if such failure arises directly or indirectly from a Force Majeure event, provided that the affected Party gives prompt written notice to the other Party and uses commercially reasonable efforts to mitigate the effects of such event. Financial inability to pay shall under no circumstances constitute a Force Majeure event.

5.4 Governing Law and Jurisdiction

This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Queensland, Australia. The Parties hereby irrevocably submit to the non-exclusive jurisdiction of the courts of Queensland and any courts competent to hear appeals therefrom.

5.5 Dispute Resolution

(a) In the event of any dispute, controversy, or claim arising out of or relating to this Agreement, the Parties shall first attempt in good faith to resolve the matter through senior executive negotiation within fourteen (14) business days of written notice by one Party to the other. (b) If the dispute is not resolved through negotiation, the Parties shall refer the matter to mediation administered by the Resolution Institute or the Queensland Law Society prior to commencing formal court proceedings, unless urgent interlocutory relief is sought.

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6. Formal Execution Block

IN WITNESS WHEREOF, the Parties hereto have executed this Commercial Lease Agreement under seal by their duly authorized representatives as of the Effective Date written above.

LANDLORD:

Executed by [Landlord Entity Name]
ABN/ACN: [Landlord ABN/ACN] in accordance with section 127 of the Corporations Act 2001 (Cth) / by its authorized signatory:

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Signature of Director / Authorized Officer

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Name of Director / Authorized Officer (Print)

Date: [Date]

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TENANT:

Executed by [Tenant Entity Name]
ABN/ACN: [Tenant ABN/ACN] in accordance with section 127 of the Corporations Act 2001 (Cth) / by its authorized signatory:

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Signature of Director / Authorized Officer

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Name of Director / Authorized Officer (Print)

Date: [Date]