Commercial Lease Agreement Template New York

COMMERCIAL LEASE AGREEMENT

This Commercial Lease Agreement (the "Agreement") is made and entered into as of this [Day] day of [Month], [Year] (the "Effective Date"), by and between:

Landlord: [Landlord Entity Name], a [State of Incorporation] [Type of Entity], having its principal place of business at [Landlord Address] (“Landlord”), and

Tenant: [Tenant Entity Name], a [State of Incorporation] [Type of Entity], having its principal place of business at [Tenant Address] (“Tenant”).

RECITALS WHEREAS, Landlord is the fee owner of the real property and improvements located at [Property Address], New York (the “Premises”); and WHEREAS, Landlord desires to lease the Premises to Tenant, and Tenant desires to lease the Premises from Landlord, subject to the terms, covenants, and conditions set forth herein.

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

1. OPERATIONAL DEFINITIONS

1.1 "Base Rent" shall mean the monthly sum of $[Dollar Amount]. 1.2 "Premises" shall mean the rentable area of approximately [Number] square feet located at [Full Address, including Unit/Suite]. 1.3 "Term" shall mean the period commencing on [Start Date] and expiring on [End Date]. 1.4 "Security Deposit" shall mean the sum of $[Dollar Amount], to be held as security for the performance of Tenant’s obligations. 1.5 "Permitted Use" shall mean [Specific Business Activity] and no other purpose without Landlord’s prior written consent. 1.6 "Business Day" shall mean any day other than a Saturday, Sunday, or a day on which banking institutions in the State of New York are authorized or required by law to be closed.

2. SUBSTANTIVE TERMS & OBLIGATIONS

2.1 Payment of Rent: Tenant shall pay Base Rent to Landlord on the first day of each month without offset, deduction, or abatement. Rent shall be paid via [Wire Transfer/ACH/Check] to the account designated by Landlord. 2.2 Use and Compliance: Tenant shall occupy the Premises solely for the Permitted Use and shall comply with all applicable federal, state, and municipal laws, ordinances, and regulations, including the New York City Building Code and Zoning Resolutions where applicable. 2.3 Maintenance and Repairs: Tenant shall, at its sole expense, maintain the interior of the Premises in good order and repair. Landlord shall be responsible for the structural integrity of the roof, exterior walls, and foundation. 2.4 Insurance: Tenant shall maintain, at its sole cost, Commercial General Liability insurance naming Landlord as an additional insured, with a minimum limit of $[Dollar Amount] per occurrence. 2.5 Alterations: Tenant shall not make any structural alterations or improvements to the Premises without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned, or delayed.

3. DEFAULT, TERMINATION, AND REMEDIES

3.1 Events of Default: An "Event of Default" shall occur if: (a) Tenant fails to pay Rent within [Number] days of the due date; (b) Tenant fails to perform any other material obligation under this Agreement; (c) Tenant files for bankruptcy or becomes insolvent. 3.2 Notice and Cure: Upon the occurrence of an Event of Default, Landlord shall provide written notice to Tenant. Tenant shall have [30] business days to cure such default. If the default is not cured within the cure period, Landlord may exercise any remedy available at law or in equity. 3.3 Remedies: In the event of an uncured default, Landlord may: (a) Terminate this Agreement upon written notice; (b) Re-enter and take possession of the Premises; (c) Recover all damages incurred, including unpaid rent, legal fees, and costs of re-letting the Premises.

4. BOILERPLATE LEGAL PROVISIONS

4.1 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to its conflict of laws principles. 4.2 Dispute Resolution: Any dispute arising out of or relating to this Agreement shall be submitted to binding arbitration in the County of [County Name], New York, under the rules of the American Arbitration Association. The prevailing party shall be entitled to reasonable attorney fees. 4.3 Force Majeure: Neither party shall be liable for failure to perform its obligations (except for the payment of money) due to events beyond its reasonable control, including acts of God, war, or governmental restriction. 4.4 Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior discussions, representations, or agreements, whether written or oral. 4.5 Severability: If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable to the fullest extent permitted by law.

5. FORMAL EXECUTION BLOCK

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date first written above.

LANDLORD: [Landlord Entity Name]

By: __________________________ Name: [Signatory Name] Title: [Signatory Title] Date: _________________________

TENANT: [Tenant Entity Name]

By: __________________________ Name: [Signatory Name] Title: [Signatory Title] Date: _________________________