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Lease Amendment To Extend Term
"I need a Lease Amendment to Extend Term for my retail shop in Melbourne CBD, extending the current lease for an additional 5 years from March 2025, with annual rent reviews and inclusion of a refurbishment clause."
1. Parties: Identifies all parties to the amendment, including the original lessor and lessee, with their current legal names and addresses
2. Background: References the original lease agreement, its date of execution, current term, and the parties' desire to extend the term
3. Definitions: Defines key terms used in the amendment, including references to defined terms in the original lease
4. Extension of Term: Specifies the new expiry date and confirms the extension of the lease term
5. Rent During Extended Term: States the rent payable during the extended term, including any adjustments or review mechanisms
6. Confirmation of Lease Terms: Confirms that all other terms and conditions of the original lease remain in full force and effect
7. Execution: Formal execution block for all parties to sign, including date and witness requirements
1. Conditions Precedent: Used when the extension is subject to specific conditions being met, such as no existing defaults or completion of specific works
2. Modified Terms: Include when any terms of the original lease are being modified as part of the extension agreement
3. Option Periods: Used when granting additional option periods along with the extension
4. Regulatory Compliance: Include when specific regulatory requirements need to be addressed, such as retail lease legislation compliance
5. Mortgagee Consent: Required when the lessor's mortgagee needs to consent to the extension
6. Guarantor Acknowledgment: Include when the original lease has guarantors who need to confirm their ongoing obligations
1. Schedule 1 - Original Lease: Copy or summary of the original lease agreement being extended
2. Schedule 2 - Updated Premises Plan: Current plan of the leased premises, if any changes have occurred
3. Schedule 3 - Rent Schedule: Detailed breakdown of rent payments and review dates for the extended term
4. Appendix A - Condition Report: Current condition of the premises at the time of extension, if required
5. Appendix B - Required Consents: Copies of any third-party consents required for the extension
6. Appendix C - Certificate of Independent Legal Advice: If required by law or agreed between the parties
Authors
Commencement Date
Current Term
Effective Date
Extended Term
Extension Period
Existing Lease
Expiry Date
Further Term
Initial Term
Lease
Original Lease
Original Parties
Premises
Rent Review Date
Review Period
Term
Variation
New Expiry Date
Extension Notice
Business Day
Commencing Rent
Permitted Use
Related Documents
Security Amount
Amendment
Extension of Term
Rent and Payment
Conditions Precedent
Representations and Warranties
Confirmation of Terms
Registration
Costs and Stamp Duty
Governing Law
Execution
Authority to Sign
Severability
Entire Agreement
Notice
Consent Requirements
Further Assurance
Counterparts
Binding Effect
Commercial Real Estate
Retail
Industrial
Healthcare
Hospitality
Education
Professional Services
Manufacturing
Warehousing
Technology
Financial Services
Legal
Property Management
Facilities Management
Operations
Finance
Compliance
Real Estate
Administration
Risk Management
Corporate Services
Property Manager
Facilities Manager
Legal Counsel
Real Estate Manager
Commercial Lease Administrator
Property Operations Director
Asset Manager
Tenant Relations Manager
Business Operations Manager
Contract Administrator
Chief Financial Officer
Real Estate Director
Compliance Officer
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