Option to Lease Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date

{{date}}

Parties

This Option to Lease Agreement ("Agreement") is made and entered into on {{date_of_agreement}}

BETWEEN:

{{landlord_company_name}} (Registration Number: {{landlord_registration_number}}), a company duly incorporated and existing under the laws of {{country}}, with its principal place of business at {{landlord_address}} (hereinafter referred to as "the Lessor");

AND

{{tenant_company_name}} (Registration Number: {{tenant_registration_number}}), a company duly incorporated and existing under the laws of {{country}}, with its principal place of business at {{tenant_address}} (hereinafter referred to as "the Lessee").

Recitals

WHEREAS, the Lessor is the registered owner of the property located at {{property_address}} (hereinafter referred to as "the Property").

WHEREAS, the Lessee desires to obtain an option to lease the Property from the Lessor, and the Lessor is willing to grant such an option, subject to the terms and conditions hereinafter appearing.

Grant of Option

The Lessor hereby grants to the Lessee an exclusive option (hereinafter referred to as "the Option") to lease the Property for a term of {{lease_term_years}} years, commencing on {{lease_commencement_date}}, subject to the terms and conditions of a separate Lease Agreement to be concluded between the parties.

Option Period

The Option shall be exercisable for a period commencing on {{option_start_date}} and terminating on {{option_end_date}} (hereinafter referred to as "the Option Period"). Time shall be of the essence with respect to the Option Period.

Option Fee

In consideration for the grant of this Option, the Lessee shall pay to the Lessor a non-refundable option fee of {{option_fee_currency}} {{option_fee_amount}} on or before {{option_fee_payment_date}}. This option fee shall not be credited towards any future rental payments if the Option is exercised.

Exercise of Option

The Lessee may exercise the Option by giving written notice to the Lessor of its intention to lease the Property, delivered to the Lessor at {{landlord_address}} on or before the expiry of the Option Period. Upon receipt of such notice, the parties shall enter into a formal Lease Agreement within {{days_to_sign_lease}} days, incorporating the terms and conditions substantially similar to those attached hereto as Annexure "A" (specimen Lease Agreement).

Failure to Exercise Option

If the Lessee fails to exercise the Option within the Option Period, this Agreement shall automatically terminate, and neither party shall have any further claims against the other hereunder, save for any rights or obligations that accrued prior to such termination.

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 courts of {{country}} in respect of any dispute arising out of or in connection with this Agreement.

Signatures

THUS DONE AND SIGNED at {{place_of_signing_lessor}} on this {{day_lessor}} day of {{month_lessor}}, {{year_lessor}}.

_________________________

For: {{landlord_company_name}}

Name: {{landlord_signatory_name}}

Position: {{landlord_signatory_position}}

THUS DONE AND SIGNED at {{place_of_signing_lessee}} on this {{day_lessee}} day of {{month_lessee}}, {{year_lessee}}.

_________________________

For: {{tenant_company_name}}

Name: {{tenant_signatory_name}}

Position: {{tenant_signatory_position}}