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Commercial Lease Agreement
This Commercial Lease Agreement ("Agreement") is made and entered into as of [Date] by and between [Landlord Name], with a registered office at [Landlord Address] ("Landlord"), and ABC Corporation, with a registered office at [Tenant Address] ("Tenant").
1. Introduction
1.1. Landlord is the owner of the property located at [Property Address] ("Premises").
1.2. Tenant desires to lease the Premises from Landlord for the purpose of [Purpose of Lease].
2. Lease Term
2.1. The lease term shall be for a period of [Lease Term] commencing on [Start Date] and ending on [End Date] ("Term").
2.2. This Agreement may be renewed for an additional [Renewal Term] upon the mutual written consent of both parties.
3. Rent
3.1. Tenant shall pay Landlord a monthly rent of [Monthly Rent] ("Rent").
3.2. Rent shall be payable in advance on the [Day] of each month.
3.3. Rent shall be paid to Landlord at [Payment Address] or by such other means as Landlord may designate in writing.
3.4. Landlord may increase the Rent upon the expiration of the initial Term or any renewal term, subject to the provisions of the Landlord and Tenant (Shops, Hotels and Catering Establishments) Act, Cap. 48.
4. Use of Premises
4.1. Tenant shall use the Premises solely for the purpose of [Purpose of Lease].
4.2. Tenant shall not use the Premises for any illegal or unlawful purpose.
4.3. Tenant shall not assign this Agreement or sublet the Premises without the prior written consent of Landlord.
5. Maintenance and Repairs
5.1. Landlord shall be responsible for the maintenance and repair of the Premises, including the roof, exterior walls, foundation, plumbing, electrical system, and heating and cooling systems.
5.2. Tenant shall be responsible for the maintenance and repair of the interior of the Premises, including the walls, floors, ceilings, fixtures, and appliances.
5.3. Tenant shall promptly notify Landlord of any damage or defect to the Premises.
6. Utilities
6.1. Tenant shall be responsible for the payment of all utilities used in connection with the Premises, including but not limited to electricity, water, gas, and telephone.
6.2. Landlord shall be responsible for the payment of any common area utilities.
7. Insurance
7.1. Landlord shall maintain insurance on the Premises for the benefit of Landlord and Tenant, including but not limited to fire, theft, and liability insurance.
7.2. Tenant shall maintain insurance on its own property and operations, including but not limited to business interruption insurance.
8. Default
8.1. This Agreement may be terminated by Landlord upon the occurrence of any of the following events:
Tenant fails to pay Rent when due.
Tenant breaches any of the terms and conditions of this Agreement.
Tenant abandons the Premises.
Tenant uses the Premises for any illegal or unlawful purpose.
8.2. This Agreement may be terminated by Tenant upon the occurrence of any of the following events:
Landlord fails to maintain the Premises in a habitable condition.
Landlord breaches any of the terms and conditions of this Agreement.
9. Governing Law
9.1. This Agreement shall be governed by and construed in accordance with the laws of Kenya.
10. Entire Agreement
10.1. 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.
11. Notices
11.1. 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 Landlord: [Landlord Address]
If to Tenant: [Tenant Address]
12. Waiver
12.1. No waiver by either party of any breach of any provision of this Agreement shall be deemed a waiver of any subsequent breach of the same or any other provision.
13. Severability
13.1. 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.
14. Binding Effect
14.1. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.
15. Dispute Resolution
15.1. Any dispute arising out of or relating to this Agreement shall be settled amicably through negotiation.
15.2. If the parties are unable to reach an amicable settlement, the dispute shall be referred to arbitration in accordance with the Arbitration Act, Cap. 49.
16. Signatures
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
Landlord:
[Landlord Signature]
[Landlord Printed Name]
Tenant:
[Tenant Signature]
[Tenant Printed Name]
Table of Contents
Introduction
Lease Term
Rent
Use of Premises
Maintenance and Repairs
Utilities
Insurance
Default
Governing Law
Entire Agreement
Notices
Waiver
Severability
Binding Effect
Dispute Resolution
Signatures
TLDR
This Commercial Lease Agreement outlines the terms and conditions for the lease of the Premises by Tenant from Landlord. It covers aspects such as the lease term, rent, use of the Premises, maintenance and repairs, utilities, insurance, default, governing law, and dispute resolution.
Sources
Landlord and Tenant (Shops, Hotels and Catering Establishments) Act, Cap. 48
Arbitration Act, Cap. 49
Sample Commercial Lease Agreement
This Commercial Lease Agreement ("Agreement") is made and entered into as of [Date] by and between [Landlord Full Name], with a registered office at [Landlord Address] ("Landlord"), and ABC Corporation, with a registered office at [Tenant Address] ("Tenant").
1. Introduction
1.1. Landlord is the owner of the property located at [Property Address] ("Premises").
1.2. Tenant desires to lease the Premises from Landlord for the purpose of [Purpose of Lease].
2. Lease Term
2.1. The lease term shall be for a period of [Lease Term] commencing on [Start Date] and ending on [End Date] ("Term").
2.2. This Agreement may be renewed for an additional [Renewal Term] upon the mutual written consent of both parties.
3. Rent
3.1. Tenant shall pay Landlord a monthly rent of [Monthly Rent] ("Rent").
3.2. Rent shall be payable in advance on the [Day] of each month.
3.3. Rent shall be paid to Landlord at [Payment Address] or by such other means as Landlord may designate in writing.
3.4. Landlord may increase the Rent upon the expiration of the initial Term or any renewal term, subject to the provisions of the Landlord and Tenant (Shops, Hotels and Catering Establishments) Act, Cap. 48.
4. Use of Premises
4.1. Tenant shall use the Premises solely for the purpose of [Purpose of Lease].
4.2. Tenant shall not use the Premises for any illegal or unlawful purpose.
4.3. Tenant shall not assign this Agreement or sublet the Premises without the prior written consent of Landlord.
5. Maintenance and Repairs
5.1. Landlord shall be responsible for the maintenance and repair of the Premises, including the roof, exterior walls, foundation, plumbing, electrical system, and heating and cooling systems.
5.2. Tenant shall be responsible for the maintenance and repair of the interior of the Premises, including the walls, floors, ceilings, fixtures, and appliances.
5.3. Tenant shall promptly notify Landlord of any damage or defect to the Premises.
6. Utilities
6.1. Tenant shall be responsible for the payment of all utilities used in connection with the Premises, including but not limited to electricity, water, gas, and telephone.
6.2. Landlord shall be responsible for the payment of any common area utilities.
7. Insurance
7.1. Landlord shall maintain insurance on the Premises for the benefit of Landlord and Tenant, including but not limited to fire, theft, and liability insurance.
7.2. Tenant shall maintain insurance on its own property and operations, including but not limited to business interruption insurance.
8. Default
8.1. This Agreement may be terminated by Landlord upon the occurrence of any of the following events:
Tenant fails to pay Rent when due.
Tenant breaches any of the terms and conditions of this Agreement.
Tenant abandons the Premises.
Tenant uses the Premises for any illegal or unlawful purpose.
8.2. This Agreement may be terminated by Tenant upon the occurrence of any of the following events:
Landlord fails to maintain the Premises in a habitable condition.
Landlord breaches any of the terms and conditions of this Agreement.
9. Governing Law
9.1. This Agreement shall be governed by and construed in accordance with the laws of Kenya.
10. Entire Agreement
10.1. 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.
11. Notices
11.1. 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 Landlord: [Landlord Address]
If to Tenant: [Tenant Address]
12. Waiver
12.1. No waiver by either party of any breach of any provision of this Agreement shall be deemed a waiver of any subsequent breach of the same or any other provision.
13. Severability
13.1. 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.
14. Binding Effect
14.1. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.
15. Dispute Resolution
15.1. Any dispute arising out of or relating to this Agreement shall be settled amicably through negotiation.
15.2. If the parties are unable to reach an amicable settlement, the dispute shall be referred to arbitration in accordance with the Arbitration Act, Cap. 49.
16. Signatures
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
Landlord:
[Landlord Signature]
[Landlord Printed Name]
Tenant:
[Tenant Signature]
[Tenant Printed Name]
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