Commercial Sublease
Sublease agreement for commercial property covering rent, common areas, insurance, alterations, and landlord consent requirements.
Commercial Sublease Agreement
This Commercial Sublease Agreement (this "Sublease") is entered into as of effective_date by and between:
sublessor_name ("Sublessor"); and
sublessee_name ("Sublessee").
1. Premises
1.1 Description
Sublessor hereby subleases to Sublessee, and Sublessee hereby subleases from Sublessor, the following premises (the "Premises"): approximately square_footage square feet of space located at property_address, as further described or depicted in Exhibit A attached hereto.
1.2 Master Lease
Sublessor is the tenant under a master lease agreement with landlord_name ("Landlord") for the property (the "Master Lease"). This Sublease is subject to and subordinate to all terms and conditions of the Master Lease. Sublessee acknowledges that it has been provided with or given access to relevant portions of the Master Lease and agrees to comply with all applicable provisions.
1.3 Landlord Consent
This Sublease is contingent upon obtaining the prior written consent of Landlord, to the extent required by the Master Lease. Sublessor shall use commercially reasonable efforts to obtain Landlord's consent prior to the Sublease Start Date. If Landlord's consent is not obtained within thirty (30) days of the Effective Date, either Party may terminate this Sublease without liability.
2. Term
The term of this Sublease shall commence on start_date (the "Sublease Start Date") and shall expire on end_date (the "Sublease End Date"), unless sooner terminated as provided herein. The Sublease term shall not extend beyond the term of the Master Lease.
3. Rent
3.1 Base Rent
Sublessee shall pay Sublessor monthly base rent of monthly_rent ("Base Rent"), due and payable on the first (1st) day of each calendar month during the Sublease term. Rent for any partial month shall be prorated on a per diem basis.
3.2 Security Deposit
Upon execution of this Sublease, Sublessee shall pay Sublessor a security deposit of security_deposit (the "Security Deposit"). The Security Deposit shall be held by Sublessor as security for Sublessee's faithful performance of its obligations under this Sublease. The Security Deposit (or the balance remaining after any permitted deductions for unpaid rent, damages, or cleaning) shall be returned to Sublessee within thirty (30) days following the Sublease End Date and Sublessee's vacation of the Premises.
3.3 Additional Costs
In addition to Base Rent, Sublessee shall be responsible for: (a) a proportionate share of common area maintenance (CAM) charges as allocated by Sublessor; (b) Sublessee's utility costs (electricity, water, internet) if separately metered, or a proportionate share if not; and (c) any other costs specified in this Sublease or the Master Lease that are attributable to Sublessee's use of the Premises.
3.4 Late Fees
Rent payments received more than five (5) days after the due date shall be subject to a late fee of five percent (5%) of the overdue amount.
4. Use of Premises
Sublessee shall use the Premises solely for permitted_use and for no other purpose without the prior written consent of Sublessor and Landlord. Sublessee shall not use the Premises for any unlawful purpose or in any manner that would violate the Master Lease, increase insurance premiums, or create a nuisance for other tenants.
5. Common Areas
Sublessee shall have the non-exclusive right to use the common areas of the building in common with Sublessor and other tenants, including lobbies, hallways, restrooms, elevators, parking areas, and loading docks, subject to reasonable rules and regulations established by Landlord. Sublessee shall not store personal property in common areas or obstruct common area access.
6. Maintenance and Repairs
Sublessee shall maintain the Premises in good condition and repair during the Sublease term. Sublessee shall be responsible for routine maintenance and minor repairs within the Premises. Sublessor shall be responsible for structural repairs and building systems maintenance as provided in the Master Lease. Sublessee shall promptly report any maintenance issues requiring Sublessor's or Landlord's attention.
7. Alterations
Sublessee shall not make any alterations, additions, or improvements to the Premises without the prior written consent of both Sublessor and Landlord. Any approved alterations shall be performed at Sublessee's sole expense, in a professional and workmanlike manner, in compliance with all applicable building codes and permits. Upon the Sublease End Date, Sublessee shall, at Sublessor's option, either remove all alterations and restore the Premises to their original condition or leave the alterations in place.
8. Insurance
Sublessee shall maintain, at its own expense: (a) commercial general liability insurance with coverage of at least $1,000,000 per occurrence and $2,000,000 aggregate; (b) property insurance covering Sublessee's personal property, equipment, and fixtures; and (c) workers' compensation insurance as required by law. Sublessee shall name Sublessor and Landlord as additional insureds on the liability policy and shall provide certificates of insurance prior to occupying the Premises.
9. Assignment and Further Subletting
Sublessee shall not assign this Sublease or further sublease all or any portion of the Premises without the prior written consent of Sublessor and Landlord. Any attempted assignment or subletting without consent shall be void and constitute a default under this Sublease.
10. Default and Remedies
If Sublessee fails to pay rent within ten (10) days of the due date or breaches any other material term of this Sublease and fails to cure within fifteen (15) days of written notice, Sublessor may: (a) terminate this Sublease upon written notice; (b) re-enter and take possession of the Premises; and (c) pursue any other remedies available at law or in equity. Sublessee shall be liable for all damages incurred by Sublessor as a result of Sublessee's default, including the cost of re-letting the Premises.
11. Surrender and Holdover
Upon expiration or termination of this Sublease, Sublessee shall surrender the Premises in the same condition as received, reasonable wear and tear excepted. If Sublessee fails to vacate by the Sublease End Date, Sublessee shall be deemed a holdover tenant and shall pay holdover rent at 150% of the Base Rent for each month or partial month of holdover.
12. General Provisions
(a) Governing Law: This Sublease shall be governed by the laws of the State of governing_state.
(b) Notices: All notices shall be in writing and delivered to the addresses set forth below.
(c) Entire Agreement: This Sublease constitutes the entire agreement between the Parties regarding the Premises.
(d) Amendments: This Sublease may only be amended by written instrument signed by both Parties.
(e) Severability: If any provision is held unenforceable, the remaining provisions shall remain in full force and effect.
IN WITNESS WHEREOF, the Parties have executed this Commercial Sublease Agreement as of the Effective Date.
Sublessor
sublessor_name
[Electronic signature will be collected via zsign]
[Date will be recorded automatically]
Sublessee
sublessee_name
[Electronic signature will be collected via zsign]
[Date will be recorded automatically]
Landlord Consent
landlord_name hereby consents to this Sublease.
[Electronic signature will be collected via zsign]
[Date will be recorded automatically]