Simple Commercial Lease Agreement Template Nz

SIMPLE COMMERCIAL LEASE AGREEMENT

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

1. PARTIES AND RECITALS

BETWEEN: (1) [Landlord Name] of [Landlord Address] (the "Landlord"); AND (2) [Tenant Name] of [Tenant Address] (the "Tenant").

RECITALS: (A) The Landlord is the registered proprietor of the commercial premises situated at [Full Property Address] (the "Premises"). (B) The Landlord has agreed to lease, and the Tenant has agreed to take a lease of, the Premises for the Permitted Use, subject to the terms and conditions set forth herein, in accordance with the laws of New Zealand.

2. OPERATIONAL DEFINITIONS

1. "Base Rent" means the annual sum of [Dollar Amount] plus GST, payable in monthly installments.
2. "Commencement Date" means [Date].
3. "GST" means Goods and Services Tax as defined in the Goods and Services Tax Act 1985.
4. "Operating Expenses" means all rates, taxes, insurance premiums, and maintenance costs attributable to the Premises.
5. "Permitted Use" means [Specific Business Activity].
6. "Term" means the period of [Number] years commencing on the Commencement Date.

3. SUBSTANTIVE TERMS AND OBLIGATIONS

3.1 Grant of Lease: The Landlord leases the Premises to the Tenant for the Term, subject to the covenants and conditions contained in this Agreement. 3.2 Rent Payment: The Tenant shall pay the Base Rent in advance on the 1st day of each month via direct credit to the Landlord’s nominated bank account. 3.3 Outgoings: The Tenant shall be liable for all Operating Expenses, including utilities, telecommunications, and a proportionate share of building insurance. 3.4 Maintenance: The Tenant shall maintain the interior of the Premises in good and tenantable repair, fair wear and tear excepted. The Landlord shall be responsible for structural repairs to the building. 3.5 Compliance: The Tenant shall comply with all relevant New Zealand statutes, including the Health and Safety at Work Act 2015 and the Resource Management Act 1991.

4. DEFAULT, TERMINATION, AND REMEDIES

4.1 Events of Default: A default occurs if: (a) The Tenant fails to pay rent for more than 10 working days after the due date. (b) The Tenant breaches any material obligation and fails to remedy such breach within 30 business days of receiving written notice from the Landlord. (c) The Tenant becomes insolvent, enters liquidation, or is declared bankrupt. 4.2 Remedies: Upon an Event of Default, the Landlord may, without prejudice to any other rights: (a) Re-enter the Premises and terminate the lease; (b) Recover all outstanding arrears and damages incurred through the breach; (c) Recover legal costs on a solicitor-client basis.

5. BOILERPLATE LEGAL PROVISIONS

5.1 Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior negotiations or representations. 5.2 Severability: If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect. 5.3 Force Majeure: Neither party shall be liable for any failure to perform its obligations where such failure results from any cause beyond its reasonable control, including acts of God or pandemic-related government restrictions. 5.4 Governing Law: This Agreement is governed by the laws of New Zealand, and the parties submit to the exclusive jurisdiction of the New Zealand Courts. 5.5 Dispute Resolution: In the event of a dispute, the parties shall first attempt to resolve the matter through good-faith mediation before initiating formal court proceedings.

6. FORMAL EXECUTION BLOCK

SIGNED by the Landlord:

Name: [Name] Title: [Title] Date: [Date]

SIGNED by the Tenant:

Name: [Name] Title: [Title] Date: [Date]

WITNESS:

Name: [Witness Name] Address: [Witness Address] Occupation: [Witness Occupation]