Sublease Agreement Template Ontario

SUBLEASE AGREEMENT

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

BETWEEN:

[Sublandlord Name], a corporation incorporated under the laws of [Jurisdiction], having its principal place of business at [Address] (hereinafter referred to as the "Sublandlord");

• AND -

[Subtenant Name], a corporation incorporated under the laws of [Jurisdiction], having its principal place of business at [Address] (hereinafter referred to as the "Subtenant").

RECITALS:

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

WHEREAS, the Sublandlord desires to sublease to the Subtenant, and the Subtenant desires to sublease from the Sublandlord, a portion of the Premises (the "Subleased Premises") upon the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows:

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1. OPERATIONAL DEFINITIONS

1.1 "Subleased Premises" means that specific portion of the Premises described as [Description/Suite Number/Floor], consisting of approximately [Number] square feet.

1.2 "Base Rent" means the sum of [Dollar Amount] payable in accordance with Section 3.1.

1.3 "Additional Rent" means all costs, charges, and expenses payable by the Sublandlord under the Master Lease that are allocable to the Subleased Premises.

1.4 "Term" means the period commencing on [Start Date] and expiring on [End Date], unless terminated earlier in accordance with this Agreement.

1.5 "Master Lease" means the lease agreement between the Master Landlord and the Sublandlord, a copy of which has been provided to the Subtenant and is incorporated by reference herein.

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2. SUBSTANTIVE TERMS & OBLIGATIONS

2.1 Grant of Sublease: The Sublandlord hereby subleases the Subleased Premises to the Subtenant, subject to the terms and conditions of the Master Lease.

2.2 Use: The Subtenant shall use the Subleased Premises solely for [Permitted Use] and for no other purpose without the prior written consent of the Sublandlord and the Master Landlord.

2.3 Rent Payments: The Subtenant shall pay the Base Rent and Additional Rent to the Sublandlord on the [Day] day of each month. Payments not received within [Number] days of the due date shall be subject to a late fee of [Percentage]%.

2.4 Compliance: The Subtenant shall comply with all terms and conditions of the Master Lease. The Subtenant shall not commit any act or omission that would constitute a default under the Master Lease.

2.5 Insurance: The Subtenant shall maintain, at its sole expense, comprehensive general liability insurance in an amount not less than [Dollar Amount] per occurrence, naming both the Sublandlord and the Master Landlord as additional insureds.

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3. DEFAULT, TERMINATION, AND REMEDIES

3.1 Events of Default: An Event of Default occurs if: (a) the Subtenant fails to pay rent when due and fails to cure within 5 business days of notice; (b) the Subtenant breaches any other covenant herein and fails to cure within 30 business days of written notice; or (c) the Subtenant becomes insolvent or subject to bankruptcy proceedings.

3.2 Remedies: Upon an Event of Default, the Sublandlord may: (a) terminate this Agreement; (b) re-enter and take possession of the Subleased Premises; and (c) pursue all legal remedies available under the laws of Ontario, including recovery of arrears and damages.

3.3 Termination: This Agreement shall automatically terminate upon the expiration or early termination of the Master Lease, provided such termination is not the result of a default by the Sublandlord.

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4. BOILERPLATE LEGAL PROVISIONS

4.1 Severability: If any provision of this Agreement is held to be invalid or unenforceable, 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 failure to perform obligations due to acts of God, war, terrorism, or government regulations beyond their reasonable control, provided that such excuse shall not apply to payment obligations.

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 resolved through binding arbitration conducted in [City, Ontario] under the Arbitration Act, 1991 (Ontario).

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5. FORMAL EXECUTION BLOCK

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

SUBLANDLORD:

[Company Name]

By: __________________________ Name: [Name of Signatory] Title: [Title] Date: ________________________

SUBTENANT:

[Company Name]

By: __________________________ Name: [Name of Signatory] Title: [Title] Date: ________________________