Sublease Agreement Template Word Philippines

SUBLEASE AGREEMENT

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

[SUBLESSOR NAME], a corporation organized and existing under the laws of the Republic of the Philippines, with principal office address at [Address] (hereinafter referred to as the "Sublessor");

AND

[SUBLESSEE NAME], a corporation organized and existing under the laws of the Republic of the Philippines, with principal office address at [Address] (hereinafter referred to as the "Sublessee").

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

RECITALS

WHEREAS, the Sublessor is the current lessee of the premises located at [Complete Address of Property] (the "Master Lease Premises") pursuant to a Master Lease Agreement dated [Date of Master Lease] between the Sublessor and [Master Lessor Name] (the "Master Lessor");

WHEREAS, the Sublessor desires to sublease a portion of the Master Lease Premises comprising [Number] square meters, more particularly described in Exhibit A (the "Subleased Premises") to the Sublessee, and the Sublessee desires to lease said premises subject to the terms and conditions herein.

NOW, THEREFORE, for and in consideration of the foregoing premises and the mutual covenants herein contained, the Parties agree as follows:

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1. OPERATIONAL DEFINITIONS

1.1 "Basic Rent" means the monthly amount of [Amount in PHP] payable by the Sublessee to the Sublessor. 1.2 "Master Lease" means the lease agreement between the Master Lessor and the Sublessor, attached hereto as Exhibit B. 1.3 "Operating Expenses" means the Sublessee’s pro-rata share of utilities, common area maintenance, and property taxes as defined in Section 3. 1.4 "Security Deposit" means the amount of [Amount in PHP] held by the Sublessor to secure the performance of Sublessee’s obligations. 1.5 "Term" means the period commencing on [Start Date] and expiring on [End Date], unless sooner terminated in accordance with this Agreement.

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2. SUBSTANTIVE TERMS AND OBLIGATIONS

2.1 Grant of Sublease: The Sublessor hereby subleases the Subleased Premises to the Sublessee for the Term. 2.2 Rent Payments: Sublessee shall pay the Basic Rent in advance on or before the [Day] of each calendar month. Payments shall be made via [Payment Method]. 2.3 Compliance with Master Lease: Sublessee acknowledges it has received and reviewed the Master Lease. Sublessee agrees to comply with all applicable terms, covenants, and restrictions of the Master Lease, except as expressly modified herein. 2.4 Use of Premises: The Subleased Premises shall be used exclusively for [Nature of Business] and for no other purpose without the prior written consent of the Sublessor and, if required, the Master Lessor. 2.5 Condition of Premises: The Sublessee accepts the Subleased Premises in "as-is" condition. Sublessee shall maintain the premises in good repair, reasonable wear and tear excepted.

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3. DEFAULT, TERMINATION, AND REMEDIES

3.1 Events of Default: The following constitute a material breach: (a) failure to pay Rent for [Number] consecutive days; (b) breach of any material covenant of this Agreement; (c) bankruptcy or insolvency of the Sublessee. 3.2 Notice and Cure: Upon the occurrence of a default, Sublessor shall provide written notice to Sublessee. Sublessee shall have thirty (30) business days from receipt of such notice to cure said default. 3.3 Remedies: If the default remains uncured after the notice period, the Sublessor may: (a) terminate this Agreement; (b) re-enter and take possession of the Subleased Premises; (c) pursue all available legal remedies under Philippine law, including recovery of unpaid rent and damages.

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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 to be valid and enforceable to the fullest extent permitted by law. 4.2 Entire Agreement: This Agreement constitutes the entire understanding between the Parties and supersedes all prior discussions, agreements, or understandings. 4.3 Force Majeure: Neither Party shall be liable for failure to perform due to acts of God, war, civil unrest, government regulations, or other causes beyond reasonable control. 4.4 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the Republic of the Philippines. 4.5 Dispute Resolution: Any dispute arising out of this Agreement shall be submitted to mandatory mediation. If unresolved within sixty (60) days, the dispute shall be settled by arbitration in [City, Philippines] in accordance with the Rules of the Philippine Dispute Resolution Center, Inc. (PDRCI).

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5. FORMAL EXECUTION BLOCK

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized representatives on the date first written above.

SUBLESSOR: [Company Name]

By: ___________________________ Name: [Name of Signatory] Title: [Title] Date: [Date]

SUBLESSEE: [Company Name]

By: ___________________________ Name: [Name of Signatory] Title: [Title] Date: [Date]

SIGNED IN THE PRESENCE OF:

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