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Commercial Office Lease Agreement
"I need a Commercial Office Lease Agreement for a tech startup leasing two floors of a Grade A office building in Manchester, with a 5-year term starting March 2025, including break clause options at year 3 and specific provisions for IT infrastructure installations."
1. Parties: Details of landlord and tenant, including registered addresses and company numbers
2. Background: Context of the lease and brief property description
3. Definitions: Defined terms used throughout the lease including Property, Term, Permitted Use, and other key definitions
4. Demise: The actual grant of the lease, term length, and commencement date
5. Rent and Other Payments: Rent amount, payment terms, payment dates, and other financial obligations including service charges and utilities
6. Tenant Covenants: Tenant's obligations including repair, decoration, alterations, use restrictions, and compliance with laws
7. Landlord Covenants: Landlord's obligations including quiet enjoyment, insurance, and structural repairs
8. Insurance Provisions: Insurance requirements, obligations, and procedures for reinstatement
9. Termination Rights: Circumstances and procedures for lease termination, including forfeiture provisions
1. Break Clause: Optional early termination rights, including notice periods and conditions for exercise
2. Rent Review: Provisions for periodic rent adjustments during the term of the lease
3. Service Charge Provisions: Detailed provisions for service charge calculation, payment, and reconciliation
4. Security Requirements: Requirements for rent deposit and/or guarantor provisions
5. Contracting Out Provisions: Provisions excluding security of tenure under the Landlord and Tenant Act 1954
1. Schedule 1 - Property Plan: Detailed plan showing the leased premises and any common parts
2. Schedule 2 - Rights Granted: Detailed list of rights granted to tenant including access and use of common facilities
3. Schedule 3 - Rights Reserved: Rights reserved by landlord including access for inspection and repair
4. Schedule 4 - Service Charge Schedule: Detailed breakdown of service charge items and calculation methodology
5. Schedule 5 - Rent Review Provisions: Detailed rent review methodology, procedures, and assumptions
6. Schedule 6 - Permitted Alterations: List of alterations tenant may make without landlord's consent
7. Schedule 7 - Condition Schedule: Schedule documenting the condition of the property at lease commencement
Authors
Annual Rent
Building
Common Parts
Conduits
Contractual Term
Default Interest Rate
Demised Premises
Environmental Laws
Insurance Rent
Insured Risks
Interest Rate
Landlord's Fixtures
Law
Lease
Lettable Areas
Necessary Consents
Outgoings
Permitted Use
Planning Acts
Property
Quarter Days
Rent
Rent Commencement Date
Rent Payment Dates
Review Date
Schedule of Condition
Service Charge
Service Media
Services
Superior Lease
Superior Landlord
Tenant's Fixtures
Term
Term Commencement Date
Title Matters
VAT
Working Day
Rent Payment
Service Charge
Insurance
Repair and Maintenance
Alterations
Assignment and Subletting
Permitted Use
Health and Safety
Environmental Compliance
Utilities and Services
Access and Security
Quiet Enjoyment
Landlord's Covenants
Tenant's Covenants
Break Rights
Forfeiture
Yield Up
Force Majeure
VAT
Planning and Building Regulations
Notices
Governing Law
Dispute Resolution
Rent Review
Security of Tenure
Indemnities
Costs
Rights Reserved
Rights Granted
Termination
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