Commercial Lease Agreement Template Australia Word

COMMERCIAL LEASE AGREEMENT

THIS LEASE AGREEMENT (the "Agreement") is made and entered into this [Day] day of [Month], [Year] (the "Effective Date").

1. PREAMBLE AND RECITALS

BETWEEN: [Landlord Full Legal Name] (ABN: [Number]) of [Landlord Address] ("Landlord");

AND: [Tenant Full Legal Name] (ABN: [Number]) of [Tenant Address] ("Tenant").

RECITALS: A. The Landlord is the registered proprietor of the commercial premises located at [Street Address, Suburb, State, Postcode] (the "Premises"). B. The Landlord has agreed to lease, and the Tenant has agreed to take a lease of the Premises upon the terms and conditions set forth herein, subject to the laws of [State/Territory, e.g., New South Wales], Australia.

2. OPERATIONAL DEFINITIONS

1. "Base Rent" means the annual sum of $[Dollar Amount] (exclusive of GST), payable in monthly installments.
2. "Commencement Date" means [Date].
3. "Term" means a period of [Number] years, commencing on the Commencement Date and expiring on [Date].
4. "Outgoings" means all rates, taxes, insurance premiums, and maintenance costs associated with the operation of the Premises.
5. "Permitted Use" means [Specify nature of business, e.g., retail, office, industrial].
6. "Security Deposit" means the sum of $[Dollar Amount] held by the Landlord as security for the performance of the Tenant’s obligations.

3. SUBSTANTIVE TERMS AND OBLIGATIONS

1. Grant of Lease: The Landlord leases the Premises to the Tenant for the Permitted Use for the duration of the Term.
2. Rent Payment: The Tenant shall pay the Base Rent in advance on the [Day] of each calendar month. Late payments shall incur interest at the rate of [Percentage]% per annum.
3. Outgoings: The Tenant is responsible for all Outgoings as defined in Section 2, payable within 14 days of receipt of an invoice from the Landlord.
4. Maintenance: The Tenant shall maintain the interior of the Premises in good and tenantable repair. The Landlord shall be responsible for the structural integrity of the building.
5. Insurance: The Tenant must maintain, at its own expense, Public Liability Insurance for a minimum sum of $[Dollar Amount] noting the Landlord as an interested party.
6. Assignment: The Tenant shall not assign, sublet, or part with possession of the Premises without the prior written consent of the Landlord, which shall not be unreasonably withheld.

4. DEFAULT, TERMINATION, AND REMEDIES

1. Events of Default: A default occurs if the Tenant fails to pay rent or breaches any material term of this Agreement for a period exceeding 14 days after receiving written notice.
2. Remedy Period: Upon the occurrence of a default, the Landlord shall provide the Tenant with written notice specifying the breach. The Tenant shall have 30 business days to remedy said breach.
3. Landlord’s Rights: If the Tenant fails to remedy the breach within the 30-day period, the Landlord may: a) Terminate this Agreement and re-enter the Premises; b) Recover all outstanding arrears and damages; c) Forfeit the Security Deposit to offset losses.
4. Surrender: Upon expiration or earlier termination, the Tenant must deliver vacant possession of the Premises in the same condition as received, fair wear and tear excepted.

5. BOILERPLATE LEGAL PROVISIONS

1. Governing Law: This Agreement is governed by the laws of [State/Territory] and the Commonwealth of Australia.
2. Dispute Resolution: In the event of a dispute, the parties agree to first attempt mediation. If unresolved within 30 days, the dispute shall be referred to the jurisdiction of the [State] Civil and Administrative Tribunal or the relevant Court of competent jurisdiction.
3. Entire Agreement: This document constitutes the entire agreement between the parties and supersedes all prior negotiations or understandings.
4. Force Majeure: Neither party shall be liable for failure to perform obligations due to events beyond their reasonable control, excluding financial obligations.
5. Severability: If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

6. FORMAL EXECUTION BLOCK

EXECUTED AS AN AGREEMENT

SIGNED FOR AND ON BEHALF OF THE LANDLORD:

Signature: __________________________ Name: [Name of Authorised Signatory] Title: [Title, e.g., Director] Date: [Date]

SIGNED FOR AND ON BEHALF OF THE TENANT:

Signature: __________________________ Name: [Name of Authorised Signatory] Title: [Title, e.g., Director] Date: [Date]