Agreement to Lease

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Agreement to Lease

Agreement to Lease

PARTIES

This Agreement is made and entered into between:

LANDLORD: {{landlord_company_name}}, a company duly incorporated in accordance with the laws of {{country}}, with its principal place of business at {{landlord_address}} (hereinafter referred to as "the Landlord").

AND

PROSPECTIVE TENANT: {{tenant_company_name}}, a company duly incorporated in accordance with the laws of {{country}}, with its principal place of business at {{tenant_address}} (hereinafter referred to as "the Prospective Tenant").

(The Landlord and the Prospective Tenant hereinafter collectively referred to as “the Parties” and individually as “a Party”).

PREMISES

The Landlord hereby agrees to lease to the Prospective Tenant, and the Prospective Tenant agrees to take on lease, the immovable property situated at {{property_address}}, comprising approximately {{area}} square metres, and commonly known as {{property_name}} (hereinafter referred to as “the Premises”).

DURATION OF LEASE

The Parties agree that the lease of the Premises shall be for a period of {{lease_term_years}} ({{lease_term_years_words}}) years, commencing on {{lease_start_date}} and terminating on {{lease_end_date}}.

RENTAL AND DEPOSIT

The monthly rental payable for the Premises shall be {{currency}} {{monthly_rent_amount}} ({{monthly_rent_amount_words}}) exclusive of Value Added Tax (VAT), if applicable. The rental shall be payable in advance on the first day of each calendar month.

The Prospective Tenant shall pay a security deposit of {{currency}} {{deposit_amount}} ({{deposit_amount_words}}) to the Landlord upon the signing of this Agreement. This deposit shall be held by the Landlord as security for the due fulfilment by the Prospective Tenant of its obligations in terms of the Lease Agreement.

CONDITIONS PRECEDENT

This Agreement to Lease is conditional upon (and the Parties undertake to use their best endeavours to fulfil) the following conditions precedent:

5.1. The Prospective Tenant obtaining all necessary internal approvals for the conclusion of the Lease Agreement by no later than {{condition_precedent_date_1}}.

5.2. The Landlord obtaining all necessary consents and approvals from its financiers or other third parties, if required, for the entering into the Lease Agreement by no later than {{condition_precedent_date_2}}.

5.3. The Parties agreeing upon and signing a formal Lease Agreement embodying the terms contained herein (and such other standard commercial lease terms) by no later than {{formal_lease_signing_date}}.

OBLIGATIONS OF THE PARTIES

Upon fulfilment of the conditions precedent, the Landlord undertakes to deliver vacant possession of the Premises to the Prospective Tenant on the commencement date of the Lease Agreement, in a fit and proper condition for the intended use.

The Prospective Tenant undertakes to enter into the formal Lease Agreement within the stipulated timeframe and to comply with all its terms and conditions.

BREACH

Should either Party fail to comply with any of the terms or conditions of this Agreement to Lease, and remain in default for {{days_to_remedy}} ({{days_to_remedy_words}}) days after receiving written notice from the innocent Party requiring such default to be remedied, the innocent Party shall be entitled, without prejudice to any other rights it may have in law, to:

8.1. Claim specific performance of the terms of this Agreement; or

8.2. Cancel this Agreement and claim such damages as it may have suffered.

GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with the laws of {{country}}.

The Parties hereby consent to the non-exclusive jurisdiction of the Magistrate's Court or the High Court of {{country}} for any disputes arising from this Agreement.

GENERAL

This Agreement constitutes the entire agreement between the Parties relating to its subject matter and supersedes all prior agreements, representations and understandings between the Parties regarding to their subject matter. No amendment or consensual cancellation of this Agreement shall be of any force or effect unless reduced to writing and signed by both Parties.

No indulgence, leniency or extension of time which either Party may grant or allow to the other Party in respect of any matter whatsoever shall constitute a waiver by the former of any of the former’s rights in terms of this Agreement.

SIGNATURES

THUS DONE AND SIGNED AT {{place_of_signing}} ON THIS {{day_of_signing}} DAY OF {{month_of_signing}} {{year_of_signing}}.

For the Landlord:

________________________

Name: {{landlord_signer_name}}

Designation: {{landlord_signer_designation}}

As duly authorised

For the Prospective Tenant:

________________________

Name: {{tenant_signer_name}}

Designation: {{tenant_signer_designation}}

As duly authorised

WITNESSES:

1. ________________________

Name: {{witness_1_name}}

2. ________________________

Name: {{witness_2_name}}