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Basic Commercial Lease Agreement
"I need a Basic Commercial Lease Agreement for a retail space in Dubai Mall, with a 3-year term starting January 1, 2025, that includes specific provisions for operating hours matching mall timings and detailed fit-out requirements for a luxury boutique."
1. Parties: Details of the Landlord and Tenant, including full legal names, license numbers, and authorized representatives
2. Background: Context of the lease agreement and brief description of the premises
3. Definitions: Definitions of key terms used throughout the agreement
4. Demised Premises: Detailed description of the leased property, including location, size, and permitted use
5. Term and Renewal: Duration of the lease, commencement date, expiry date, and renewal terms
6. Rent and Payment Terms: Rent amount, payment schedule, security deposit, and method of payment
7. Service Charges: Additional charges for maintenance, utilities, and common area services
8. Use of Premises: Permitted commercial activities and restrictions on use
9. Maintenance and Repairs: Responsibilities of both parties regarding maintenance and repairs
10. Alterations and Improvements: Rules regarding modifications to the premises
11. Insurance: Required insurance coverage for both parties
12. Landlord's Covenants: Obligations and warranties of the landlord
13. Tenant's Covenants: Obligations and warranties of the tenant
14. Termination: Conditions and procedures for early termination
15. Default and Remedies: Events of default and available remedies
16. Governing Law and Jurisdiction: Applicable UAE laws and jurisdiction for dispute resolution
1. Break Clause: Optional provision allowing early termination under specific conditions
2. Fit-out Works: Specific terms for initial tenant improvements and fit-out period
3. Assignment and Subletting: Terms for transferring or subletting the premises, if permitted
4. Force Majeure: Provisions for unforeseen circumstances affecting lease obligations
5. Exclusivity Clause: Restrictions on landlord leasing to competing businesses
6. Option to Purchase: Terms giving tenant the right to purchase the property
7. Green Lease Provisions: Environmental and sustainability requirements
8. Covid-19 Provisions: Specific terms addressing pandemic-related disruptions
1. Schedule 1 - Property Plan: Detailed floor plan and measurements of the premises
2. Schedule 2 - Inventory: List of fixtures, fittings, and equipment included in the lease
3. Schedule 3 - Service Charge Details: Breakdown of service charges and calculation method
4. Schedule 4 - Fit-out Specifications: Technical requirements for any permitted alterations
5. Schedule 5 - Building Rules: Rules and regulations for the building or complex
6. Appendix A - Registration Documents: Copies of required municipality and RERA registration documents
7. Appendix B - Handover Protocol: Procedure and checklist for property handover
8. Appendix C - Maintenance Schedule: Schedule of regular maintenance responsibilities
Authors
Retail
Office Space
Hospitality
Industrial
Warehousing
Manufacturing
Professional Services
Healthcare
Education
Technology
Food and Beverage
Entertainment
Financial Services
Logistics
Commercial Real Estate
Legal
Finance
Operations
Facilities Management
Real Estate
Administration
Risk and Compliance
Procurement
Business Development
Property Management
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Real Estate Manager
Facilities Manager
Legal Counsel
Property Manager
Business Development Manager
Operations Director
Finance Director
Commercial Director
Procurement Manager
Contract Manager
Risk Manager
Compliance Officer
Real Estate Director
Branch Manager
Store Manager
General Manager
Administrative Manager
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