This industrial lease agreement template has 21 pages and is a MS Word file type listed under our real estate documents.
Sample of our industrial lease agreement template:
INDUSTRIAL LEASE AGREEMENT This Confidential Instructions: Industrial Lease Agreement (the "Agreement") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Lessor"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the "Lessee"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] PREMISES [YOUR COMPANY NAME], (the "Lessor", hereinafter) hereby leases to [COMPANY NAME], (the "Lessee" hereinafter) and Lessee leases from Lessor for the term, at the rental, and upon all of the conditions set forth herein, that certain real property situated in the County of [SPECIFY CITY], State of [SPECIFY STATE], commonly known as [FULL ADDRESS], [COUNTRY], [STATE/PROVINCE], and more particularly described in the site plan prepared by [COMPANY NAME], marked Exhibit [SPECIFY] which is attached hereto and incorporated herein. Said real property, including the land and all improvements therein, is called "the Premises". TERM Term The term of this Lease shall be for [NUMBER] years, commencing on the Commencement Date ("Commencement Date"). Lessor understands that Lessee is in negotiations with the existing lessee on the Premises, [SPECIFY COMPANY] whereby Lessee would occupy the Premises prior to the expiration of the term of [SPECIFY COMPANY]'s lease, and Lessor shall attempt to accommodate Lessee to facilitate this early occupancy. In the event that Lessee and [SPECIFY COMPANY] reach an agreement, at Lessee's election it shall either: (i) enter into a sublease with [SPECIFY COMPANY] for the balance of the term of [SPECIFY COMPANY]'s lease, in which event the Commencement Date of this Lease shall be [DATE]; or (ii) request that Lessor terminate [SPECIFY COMPANY]'s lease and accelerate the commencement of this Lease, in which event the Commencement Date shall be the date on which Lessor delivers the Premises to Lessee in accordance with this Lease. Option to Extend Lessee is given the option to extend the Lease term for [NUMBER] year period following expiration of the initial Lease term, which option may be exercised only by written notice ("Option Notice") from Lessee to Lessor given not less than [NUMBER] days prior to the end of the initial Lease term; provided, however, if Lessee is in material default on the date of giving the Option Notice, the option Notice shall be totally ineffective, or if Lessee is in material default on the date the Extended Term is to commence, such Extended Term shall not commence and this Lease shall expire at the end of the initial Lease term. In the event of an Extended Term, the Extended Term shall be subject to all the terms and conditions of this Lease excepting rent which shall be at [%] of the then fair market rental value, as determined under subparagraph (b) below, but in no event less than the monthly rent prevailing on the last month of the initial Lease term. The parties shall agree on the fair market rental value of the Premises for said Extended Term, including fair market periodic adjustments thereto, during the first [NUMBER] days of year [NUMBER] of the Lease Term. If the parties are able to agree on the fair market rental value for the Extended Term, (including periodic adjustments thereto), then such agreed value shall be the fair market-rental value for purposes of determining the rent for the Extended Term. In the event the parties are unable to agree on the fair market rental value for the Premises (including periodic adjustments) within that time, then at Lessee's written request, within [NUMBER] days of the expiration of that [NUMBER] day period, each party shall separately designate an appraiser to make this determination. Within [NUMBER] business days of their appointment, the two designated appraisers shall jointly designate a third appraiser. The failure of either party to appoint an appraiser within the time allowed shall be deemed equivalent to appointing the appraiser appointed by the other party. No person shall be appointed or designated an appraiser unless he is then a member of [SPECIFY]. Appraisal shall be on the basis of the Premises "as is" except for improvements and fixtures which are the sole property of Lessee. If, within [NUMBER] business days after the appointment of all appraisers, a majority of the appraisers concur on the value of the then current fair market rental value for the Premises, including fair market periodic adjustments thereto, that appraisal shall be the accepted fair market rental value. If a majority of the appraisers do not concur within that period, the determination of the appraiser whose appraisal is neither highest nor lowest shall be the accepted fair market rental value. The parties shall share the appraisal expenses equally. Delay in Possession The parties agree that if for any reason Lessor cannot deliver possession of the Premises to Lessee on or before [DATE], such failure shall not constitute a breach of this agreement by Lessor, and shall not entitle Lessee to terminate this Lease. Lessee shall not be obligated to pay rent, nor shall the Lease Term commence until possession of the Premises is tendered to Lessee. Early Possession If Lessee occupies the Premises prior to the Commencement Date other than as a Sublessee of [SPECIFY COMPANY], such occupancy shall be subject to all provisions hereof, and Lessee shall pay rent for such period at the initial monthly rates set forth below; provided, however, that Lessee may enter the Premises prior to commencement solely for the purpose of installing fixtures or equipment or improvements without being required to pay rent. Lessor agrees to attempt to locate [NUMBER] offices in the [SPECIFY LOCATION] for use by Lessee as office space by [DATE]. In addition, Lessor agrees to attempt to locate space in the [SPECIFY LOCATION] for use by Lessee as [SPECIFY] by [DATE], additional space for use as a [SPECIFY] by [DATE], and additional space for use as [SPECIFY] by [DATE]. However, Lessor does not and cannot guarantee such space to Lessee, and this Lease shall not be contingent on Lessee's occupancy of any such space prior to the Lease Commencement Date. RENT: SPECIAL NET LEASE Base Rent Upon the execution of this Lease, 'Lessee shall pay to Lessor the sum of [AMOUNT] representing the first month's base rent. Thereafter, beginning with the second month of the Lease, Lessee shall pay to Lessor base rent for the Premises in advance, on the first day of each month based on the following schedule of rents: Rent Per Square Monthly Months Square Foot Footage Base Rent [SPECIFY] Rent for any period during the term hereof which is for less than [NUMBER] month shall be a pro rata portion of the monthly installment. Rent shall be payable in lawful money of the [COUNTRY] to Lessor at the address stated herein or to such other persons or at such other places as Lessor may designate in writing. Special Net Lease This Lease is what is commonly called a "Net, Net, Net Lease", it being understood that, commencing with the first month of the Lease Term, the Lessor shall receive the rent set forth in Section [NUMBER] free and clear of any and all other impositions, taxes, liens, charges or expenses of any nature except as otherwise provided in this agreement. In addition to the rent reserved by Section [NUMBER], Lessee shall pay to the parties respectively entitled thereto all insurance premiums, taxes, assessments, operating charges, management fees, maintenance charges, and any other charges, costs and expenses which arise or may be contemplated under any provisions of this Lease for the entire Premises during the term hereof
