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Commercial Lease Agreement for ABC Corporation

Introduction
Parties
Premises
Term of Lease
Rent and Payment
Use of Premises
Maintenance and Repairs
Insurance
Utilities
Default and Termination
Assignment and Subletting
Notices
Governing Law
Entire Agreement
Severability
Waiver
Binding Effect
Signatures

Introduction

This Commercial Lease Agreement ("Agreement") is made and entered into as of this [Date] day of [Month], [Year], by and between [Landlord Name], with a registered office at [Landlord Address] ("Landlord"), and [Tenant Name], with a registered office at [Tenant Address] ("Tenant").

Parties

Landlord: [Landlord Name]
Tenant: [Tenant Name]

Premises

The Landlord agrees to lease to the Tenant, and the Tenant agrees to lease from the Landlord, the premises located at [Premises Address] ("Premises"). The Premises consist of [Description of Premises].

Term of Lease

The term of this Lease shall be for a period of [Number] years, commencing on [Start Date] and ending on [End Date] ("Term").

Rent and Payment

Base Rent: The Tenant shall pay to the Landlord a base rent of [Amount] per [Period] ("Base Rent").
Payment: The Base Rent shall be payable in advance on the [Day] day of each [Period] during the Term.
Late Payment: If the Tenant fails to pay the Base Rent on or before the due date, the Tenant shall pay a late payment penalty of [Percentage] of the unpaid Base Rent for each day that the payment is overdue.
Method of Payment: The Tenant shall pay the Base Rent by [Method of Payment] to the Landlord at [Payment Address].

Use of Premises

The Tenant shall use the Premises solely for the purpose of [Purpose of Use]. The Tenant shall not use the Premises for any other purpose without the prior written consent of the Landlord.

Maintenance and Repairs

Landlord's Obligations: The Landlord shall be responsible for the maintenance and repair of the Premises, including the roof, exterior walls, foundation, and structural components.
Tenant's Obligations: The Tenant shall be responsible for the maintenance and repair of the interior of the Premises, including the plumbing, electrical, heating, and air conditioning systems.
Tenant's Duty to Report: The Tenant shall promptly notify the Landlord of any damage or defect to the Premises.

Insurance

Landlord's Insurance: The Landlord shall maintain insurance on the Premises for the benefit of the Landlord and the Tenant, including but not limited to fire, casualty, and liability insurance.
Tenant's Insurance: The Tenant shall maintain insurance on its own property and operations, including but not limited to property damage, liability, and workers' compensation insurance.

Utilities

The Tenant shall be responsible for the payment of all utilities used in connection with the Premises, including but not limited to electricity, gas, water, and sewer.

Default and Termination

Default: The Tenant shall be deemed to be in default of this Agreement if it fails to pay the Base Rent or any other amounts due hereunder within [Number] days after the due date, or if it breaches any other provision of this Agreement.
Termination: The Landlord may terminate this Agreement upon the occurrence of any default by the Tenant.
Remedies: Upon termination of this Agreement, the Landlord shall be entitled to all remedies available at law or equity, including but not limited to the right to recover unpaid rent, damages, and possession of the Premises.

Assignment and Subletting

The Tenant shall not assign this Agreement or sublet the Premises without the prior written consent of the Landlord.

Notices

All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered personally, sent by certified mail, return receipt requested, or sent by overnight courier service, addressed as follows:

If to the Landlord: [Landlord Address]
If to the Tenant: [Tenant Address]

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.

Entire Agreement

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.

Severability

If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall remain in full force and effect.

Waiver

No waiver of any breach of this Agreement shall be deemed a waiver of any subsequent breach.

Binding Effect

This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

Signatures

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

Landlord:

[Landlord Name]

[Signature]

Tenant:

[Tenant Name]