Sublease Agreement Form Ontario

SUBLEASE AGREEMENT

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

BETWEEN:

[Sublandlord Name], a corporation incorporated under the laws of [Jurisdiction], having its registered office at [Sublandlord Address] (hereinafter the "Sublandlord");

AND:

[Subtenant Name], a corporation incorporated under the laws of [Jurisdiction], having its registered office at [Subtenant Address] (hereinafter the "Subtenant").

(The Sublandlord and Subtenant are collectively referred to as the "Parties" and individually as a "Party").

RECITALS:

WHEREAS, the Sublandlord is the tenant under a Head Lease dated [Date of Head Lease] (the "Head Lease") with [Head Landlord Name] (the "Head Landlord") concerning the premises located at [Full Address of Premises] (the "Premises");

WHEREAS, the Sublandlord desires to sublease the Premises to the Subtenant, and the Subtenant desires to sublease the Premises from the Sublandlord, subject to the terms and conditions set forth herein and the underlying provisions of the Head Lease.

1. OPERATIONAL DEFINITIONS

1.1 "Additional Rent" means all costs, charges, and expenses payable by the Sublandlord under the Head Lease that are allocable to the Premises. 1.2 "Base Rent" means the fixed monthly sum of [Dollar Amount] CAD. 1.3 "Business Day" means any day, excluding Saturdays, Sundays, and statutory holidays in the Province of Ontario. 1.4 "Head Lease" means the lease agreement between the Head Landlord and Sublandlord, a true copy of which has been provided to and reviewed by the Subtenant. 1.5 "Term" means the period commencing on [Start Date] and ending on [End Date], unless terminated earlier pursuant to the provisions of this Agreement.

2. SUBSTANTIVE TERMS & OBLIGATIONS

2.1 Grant of Sublease: The Sublandlord hereby subleases to the Subtenant, and the Subtenant hereby takes from the Sublandlord, the Premises for the Term, subject to the terms of the Head Lease. 2.2 Rent Payments: The Subtenant shall pay to the Sublandlord the Base Rent on the first (1st) day of each month. Payments shall be made via [Electronic Funds Transfer/Cheque] to the account designated by the Sublandlord. 2.3 Compliance with Head Lease: The Subtenant agrees to observe and perform all obligations of the Sublandlord under the Head Lease, except for the payment of Base Rent reserved under the Head Lease, which remains the obligation of the Sublandlord. 2.4 No Alterations: The Subtenant shall not make any structural alterations or improvements to the Premises without the prior written consent of both the Sublandlord and the Head Landlord. 2.5 Insurance: During the Term, the Subtenant shall maintain commercial general liability insurance with a limit of not less than [Dollar Amount] per occurrence, naming the Sublandlord and the Head Landlord as additional insureds.

3. DEFAULT, TERMINATION, AND REMEDIES

3.1 Events of Default: An "Event of Default" occurs if: (a) The Subtenant fails to pay Rent within five (5) days of the due date; (b) The Subtenant breaches any material covenant of this Agreement; (c) The Subtenant becomes insolvent or makes an assignment for the benefit of creditors. 3.2 Notice and Cure: In the event of a breach, the non-breaching Party shall provide written notice to the defaulting Party. The defaulting Party shall have thirty (30) Business Days from the receipt of such notice to remedy the breach. 3.3 Remedies: If the default remains uncured after the notice period, the non-breaching Party may: (a) Terminate this Agreement upon written notice; (b) Recover all damages sustained, including legal fees incurred; (c) Exercise any other rights available under the laws of the Province of Ontario.

4. BOILERPLATE LEGAL PROVISIONS

4.1 Severability: If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be severed, and the remaining provisions shall continue in full force and effect. 4.2 Entire Agreement: This Agreement constitutes the entire agreement between the Parties and supersedes all prior negotiations, representations, or agreements, whether written or oral. 4.3 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, war, or government regulation. 4.4 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. 4.5 Dispute Resolution: Any dispute arising out of this Agreement shall be settled by binding arbitration in [City, Ontario] in accordance with the Arbitration Act, 1991 (Ontario).

5. FORMAL EXECUTION BLOCK

IN WITNESS WHEREOF, the Parties have executed this Sublease Agreement as of the date first above written.

Sublandlord: [Company Name]

Per: ___________________________ Name: [Signatory Name] Title: [Title] Date: [Date]

Subtenant: [Company Name]

Per: ___________________________ Name: [Signatory Name] Title: [Title] Date: [Date]