Nsw Commercial Lease Agreement Template Pdf

NSW COMMERCIAL LEASE AGREEMENT TEMPLATE FREE PDF

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 the parties defined below.

PARTIES:

1. LANDLORD: [Landlord Legal Entity Name], ABN [Landlord ABN], having its registered office or principal place of business at [Landlord Address] (hereinafter referred to as the "Landlord", which expression shall where the context so admits include its successors and permitted assigns).
2. TENANT: [Tenant Legal Entity Name], ABN [Tenant ABN], having its registered office or principal place of business at [Tenant Address] (hereinafter referred to as the "Tenant", which expression shall where the context so admits include its successors and permitted assigns).

RECITALS:

WHEREAS: A. The Landlord is the registered proprietor or entitled to grant a lease of the real property and improvements situated in the State of New South Wales, more particularly described in Item 1 of the Schedule attached hereto (the "Premises"). B. The Landlord has agreed to let, and the Tenant has agreed to take on lease, the Premises for the Permitted Use subject to the terms, covenants, conditions, and stipulations contained in this Agreement and in accordance with the laws of New South Wales.

NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

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2. OPERATIONAL DEFINITIONS

For the purposes of this Agreement, unless the context otherwise requires, the following terms shall have the meanings ascribed to them below:

1. "Act" means the Retail Leases Act 1994 (NSW), if applicable to the Premises, or any successor legislation governing commercial or retail tenancies in New South Wales.
2. "Base Rent" means the annual rent specified in Item 4 of the Schedule, payable by the Tenant to the Landlord in equal monthly installments in advance.
3. "Business Day" means a day other than a Saturday, Sunday, or public holiday in Sydney, New South Wales, on which banks are open for general banking business.
4. "Commencement Date" means the date specified in Item 2 of the Schedule.
5. "Default Rate" means the rate of interest equal to the Commonwealth Bank of Australia corporate overdraft reference rate from time to time plus two percent (2%) per annum.
6. "GST" means the Goods and Services Tax as defined in the A New Tax System (Goods and Services Tax) Act 1999 (Cth).
7. "Holding Over" means the continued occupation of the Premises by the Tenant after the expiration or earlier termination of the Term without the express written consent of the Landlord.
8. "Outgoings" means all rates, taxes, assessments, levies, insurance premiums, utility charges, and operational costs incurred by the Landlord in connection with the ownership, maintenance, and operation of the Building and Premises, as further detailed in Section 3.
9. "Permitted Use" means the commercial or retail use specified in Item 6 of the Schedule.
10. "Security Deposit" means the bank guarantee, cash deposit, or security bond specified in Item 5 of the Schedule, held by the Landlord to secure the performance of the Tenant's obligations.
11. "Term" means the duration of this lease commencing on the Commencement Date and expiring on the date specified in Item 3 of the Schedule, including any exercised option periods.

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3. SUBSTANTIVE TERMS & OBLIGATIONS

3.1 Grant and Term

The Landlord hereby leases the Premises to the Tenant, and the Tenant takes the Premises from the Landlord, for the Term, yielding and paying the Base Rent and performing all covenants and obligations herein.

3.2 Rent and Payment Mechanics

(a) The Tenant covenants to pay the Base Rent to the Landlord, or as the Landlord directs, by electronic funds transfer (EFT) in equal monthly installments in advance on the first (1st) day of each calendar month without any deduction, set-off, or abatement whatsoever. (b) If the Commencement Date falls on a day other than the first day of a month, the Base Rent for the fractional month shall be apportioned on a pro-rata daily basis.

3.3 Security Deposit

(a) Concurrently with the execution of this Agreement, the Tenant shall deliver to the Landlord the Security Deposit in the amount specified in Item 5 of the Schedule. (b) The Landlord may draw upon the Security Deposit to remedy any breach of this Agreement by the Tenant, including unpaid Rent or damage to the Premises. If the Landlord draws upon the Security Deposit, the Tenant shall replenish the same to its full required amount within ten (10) Business Days of receiving written notice.

3.4 Outgoings and Operating Costs

(a) The Tenant shall pay or reimburse the Landlord for the Tenant’s Proportionate Share (as defined in the Schedule) of all Outgoings relating to the Premises and Building. (b) Outgoings shall be payable within thirty (30) days of the receipt of a valid tax invoice and supporting statement from the Landlord.

3.5 Use and Compliance with Laws

(a) The Tenant shall use the Premises strictly for the Permitted Use and for no other purpose whatsoever. (b) The Tenant shall at its own expense comply with all Commonwealth, State, and local government laws, statutes, regulations, by-laws, and workplace health and safety requirements applicable to the Premises and the Tenant’s business operations.

3.6 Maintenance, Repairs, and Alterations

(a) The Tenant shall keep and maintain the interior of the Premises in good, clean, and tenantable repair and condition (fair wear and tear excepted). (b) 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, conditioned, or delayed, subject to appropriate conditions.

3.7 Insurance and Indemnity

(a) The Tenant shall maintain public liability insurance with a reputable insurer for an amount not less than [Dollar Amount, e.g., $20,000,000] per single event, noting the interests of the Landlord as an insured party. (b) The Tenant occupies the Premises at its own risk and releases the Landlord, to the full extent permitted by law, from all claims and demands of every kind resulting from any accident, damage, or injury within the Premises, except to the extent caused by the gross negligence or willful misconduct of the Landlord.

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4. DEFAULT, TERMINATION, AND REMEDIES

4.1 Events of Default

The occurrence of any of the following shall constitute an "Event of Default": (a) Failure by the Tenant to pay Base Rent, Outgoings, or any other monetary sum within seven (7) days of its due date; (b) Breach or non-performance by the Tenant of any non-monetary covenant, condition, or obligation under this Agreement; (c) The passing of a resolution for voluntary winding up, the appointment of an administrator, liquidator, receiver, or controller, or the making of a bankruptcy order against the Tenant.

4.2 Notice and Cure Period

Except for a default under clause 4.1(a) (where the cure period is seven (7) days), if the Tenant commits an Event of Default, the Landlord shall serve a formal written notice specifying the breach and requiring the Tenant to remedy the same within thirty (30) Business Days from the date of service of such notice (the "Cure Period").

4.3 Landlord's Remedies

If the Tenant fails to remedy an Event of Default within the applicable Cure Period, the Landlord may, without prejudice to any other rights or remedies available at law or in equity: (a) Re-enter the Premises, eject the Tenant and all persons claiming under the Tenant, and repossess the Premises; (b) Terminate this Agreement by written notice to the Tenant; (c) Recover from the Tenant all damages, losses, costs, and expenses incurred by the Landlord as a direct or indirect result of the default, including legal costs on a solicitor-client basis and re-letting expenses.

4.4 Interest on Overdue Monies

Any monetary sum not paid by the Tenant when due shall bear interest at the Default Rate from the due date until the date of actual payment, calculated daily and compounded monthly.

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5. BOILERPLATE LEGAL PROVISIONS

5.1 Entire Agreement

This Agreement, together with any schedules and annexures hereto, constitutes the entire agreement between the Landlord and the Tenant with respect to the subject matter hereof and supersedes all prior negotiations, representations, warranties, and understandings, whether written or oral.

5.2 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.

5.3 Force Majeure

Neither party shall be liable for any failure or delay in performing its obligations under this Agreement (excluding the obligation to pay money) if such failure or delay arises from acts of God, war, terrorism, civil unrest, pandemic, government restrictions, or other causes beyond the reasonable control of the affected party, provided that prompt written notice is given to the other party.

5.4 Governing Law and Jurisdiction

This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of New South Wales. Each party irrevocably submits to the exclusive jurisdiction of the courts of New South Wales 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 management negotiations. (b) If the dispute is not resolved within fourteen (14) days of notice of the dispute, the parties shall refer the matter to mediation administered by the Resolution Institute prior to commencing any judicial proceedings.

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6. FORMAL EXECUTION BLOCK

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

LANDLORD:

Executed by [Landlord Legal Entity Name] (ABN [Landlord ABN]) in accordance with section 127 of the Corporations Act 2001 (Cth):

__________________________________        __________________________________
Director Signature                        Director / Secretary Signature

__________________________________        __________________________________
Name of Director (Print)                  Name of Director/Secretary (Print)

Date: __________________________          Date: __________________________

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TENANT:

Executed by [Tenant Legal Entity Name] (ABN [Tenant ABN]) in accordance with section 127 of the Corporations Act 2001 (Cth):

__________________________________        __________________________________
Director Signature                        Director / Secretary Signature

__________________________________        __________________________________
Name of Director (Print)                  Name of Director/Secretary (Print)

Date: __________________________          Date: __________________________