COMMERCIAL SUBLEASE AGREEMENT
This Commercial Sublease Agreement is made this ________ (the "Effective Date") between ________, of the following address:
________
hereinafter referred to as (the "Tenant" which expression shall where the context so admits include its successors-in-title and assigns);
AND
________, of the following address:
________
hereinafter referred to as (the "Subtenant" which expression shall where the context so admits include its successors-in-title and assigns) of the other part.
WHEREAS
A. The Tenant originally entered a Commercial Lease Agreement with ________ (the "Landlord") dated ________ (the "Original Lease") for the lease of the Subleased Premises particularly described in this Agreement.
B. The Tenant wishes to sublet the Subleased Premises to the Subtenant with the consent of the Landlord, and the Subtenant agrees to comply with the terms of the Original Lease.
Now, therefore, in consideration of the promises and covenants hereinafter contained in this Agreement, as well as other valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
1. AGREEMENT TO SUBLET PREMISES
Subject to the terms and conditions contained herein, the Tenant hereby leases the following property which is the entirety of the Subleased Premises together with all appurtenances to the Subtenant:
________
The Sublease shall commence on ________ and shall terminate on ________.
The Subleased Premises shall be used for the purposes of carrying on any business, profession or trade or any kind commercial purposes only.
2. HEAD LEASE
The Subtenant agrees to be bound by all the covenants, terms, and conditions of the Original Lease. No part of the Original Lease or this Agreement shall be modified except such modification is agreed by the Parties.
3. CONTINUING LIABILITY
The Tenant agrees and undertakes to continue to be bound and remain liable to the Lease, and that a breach of the provisions of the Lease shall entitle the Landlord to recover possession of the Subleased Premises, thereby automatically terminating this Agreement.
4. RENT
The Subtenant shall pay the sum of ₦________ (________) every week. The rent shall be due on Mondays. The rent shall be considered advance payment for that week.
The Subtenant shall pay the reserved rent in cash.
If the reserved rent payable under this Agreement is not paid within the period the rent is due for payment, the Subtenant will be charged ________% (________ percent) of the unpaid rent for every period the Subtenant is in default.
5. MAINTENANCE OF ORDER
The Subtenant agrees not to make or permit the making of any loud or improper noises or otherwise cause nuisance to other residents; and not to at any time during the said term, create or permit to be done on Subleased Premises, any act which may constitute nuisance or annoyance to neighbours and occupiers of adjoining premises.
6. ALTERATIONS AND IMPROVEMENT OF THE PREMISES
The Subtenant shall not paint, or significantly alter the appearance of the Subleased Premises; place or permit the placement of any placard, notice, poster or any sign for advertising or other purpose inside and outside the Subleased Premises; install any plant, equipment, machinery or apparatus; demolishing, rebuilding or restructuring any part of the Subleased Premises or construct, alter, change or make any improvements in the building without obtaining the prior consent of the Landlord.
7. MAINTENANCE AND REPAIR
The Subtenant and other persons authorized by the Subtenant shall at all times maintain and keep the Subleased Premises and appurtenances in good and sanitary condition and repair with reasonable wear and tear during the term of this Agreement and any renewal thereof.
8. ASSIGNMENT AND SUB-LETTING OF THE PREMISES
The Subtenant undertakes not to let, sublet, short let, or license the use of the Subleased Premises or any part thereof without obtaining prior consent from the Landlord.
9. 55825885588
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82 252 2528552822 25 22528252822 22 2588 825222222 25 252 82582 8228222 252 25258255 525 522522, 252 558222522 85588 8582, 855522525, 525 5288825 252 558825825 25228828 22222525 8825 588 5225522252828 82 252 8522 822582822 82 858 52 252 822222822222 22 252 55882582.
10. ABANDONMENT
If at any time during the term of the Sublease, the Subtenant abandons the Subleased Premises or any part thereof before the date of termination, the Landlord shall have the right to repossess the Subleased Premises. The Subtenant will be liable to pay any outstanding rent and other payments which have become due and payable.
11. DISPUTE RESOLUTION
The Parties agree to use their best endeavours to negotiate and settle any dispute or difference of opinion between them, arising from or connected with this Agreement amicably through negotiation. If the Parties cannot resolve their disputes amicably within 30 days, the matter shall be referred to mediation.
The Parties may be represented by legal practitioners in the mediation proceeding. The legal representatives shall provide legal counsel or advice to the Party they are representative, negotiate or execute a binding settlement agreement on behalf of the Party being represented, and encourage amicable and mutual settlement between the Parties.
Experts, professionals, and witnesses may be required and accepted in the mediation process. All parties involved in the mediation process, including experts, professionals, witnesses shall be bound by the rules of confidentiality under this Agreement. The mediation process shall take place at the following venue: ________.The Mediator shall determine the procedure of the mediation proceedings.
The mediation proceeding shall be conducted in English language. If either of the Parties agrees otherwise, that Party shall, with the consent of the other Party, participate in the mediation proceeding in any other language provided that the Party provides an interpreter at their own expense.
In the event that the Parties are unable to resolve their dispute or reach a mutual settlement through mediation, the matter shall be referred to arbitration.
12. JURISDICTION
The Parties agree that the Nigerian courts shall have the exclusive jurisdiction to settle any dispute or claim in connection with this Agreement.
13. GOVERNING LAW
This Sublease Agreement shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.
14. GENERAL PROVISIONS
(I) Variation: This Agreement may be amended or varied by either of the Parties, and such variation must be agreed to and signed by the Parties to this Agreement. No delay or omission to exercise any right under this Agreement shall be construed as a waiver.
(II) Notices: All notices under this Agreement may be given orally or in writing. The notices shall either be delivered personally or mailed by a certified mail to the other Party's address or that other Party's attorney.
(III) Headings: Headings in this Agreement are used for convenience ony and shall not be construed to limit or affect the terms of this Agreement.
(IV) Counterparts: This Agreement many be executed in counterparts, all of which constitutes one Agreement.
(V) Entire Agreement: This Agreement and any other agreement described as an addendum to this Agreement constitutes the entire agreement between the Parties and supersedes any prior contrary written or oral agreement made between them.
(VI) Assignment: No Party shall assign any of its obligation or duties under this Agreement, without the prior written consent of the other Party.
(VII) Enurement: This Agreement will enure the benefit of and be binding on the Parties and their respective heirs, executors, administrators and permitted successors and assigns.
(VIII) Cumulative Rights: The rights of the Parties in this Agreement are cumulative and shall not be construed as exclusive except as otherwise stated by the law.
(IX) Waivers: Any term or provision of this Agreement may be waived in writing at any time by the Party entitled to such benefit. No delay, omission to exercise any right shall not be construed as waiver.
(X) Severability: If any part of this Agreement is held unenforceable, the remainder of this Agreement shall continue to be in force and have effect.
(XI) Further Assurance: The Parties shall execute and deliver all such documents and take all such actions and all steps to procure the performance of all such acts as may be necessary or incidental to give effect to the provisions of this Agreement.
IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above.
SIGNED by the within named Tenant
____________________
________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
SIGNED by the within named Subtenant
_____________________
________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
COMMERCIAL SUBLEASE AGREEMENT
This Commercial Sublease Agreement is made this ________ (the "Effective Date") between ________, of the following address:
________
hereinafter referred to as (the "Tenant" which expression shall where the context so admits include its successors-in-title and assigns);
AND
________, of the following address:
________
hereinafter referred to as (the "Subtenant" which expression shall where the context so admits include its successors-in-title and assigns) of the other part.
WHEREAS
A. The Tenant originally entered a Commercial Lease Agreement with ________ (the "Landlord") dated ________ (the "Original Lease") for the lease of the Subleased Premises particularly described in this Agreement.
B. The Tenant wishes to sublet the Subleased Premises to the Subtenant with the consent of the Landlord, and the Subtenant agrees to comply with the terms of the Original Lease.
Now, therefore, in consideration of the promises and covenants hereinafter contained in this Agreement, as well as other valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
1. AGREEMENT TO SUBLET PREMISES
Subject to the terms and conditions contained herein, the Tenant hereby leases the following property which is the entirety of the Subleased Premises together with all appurtenances to the Subtenant:
________
The Sublease shall commence on ________ and shall terminate on ________.
The Subleased Premises shall be used for the purposes of carrying on any business, profession or trade or any kind commercial purposes only.
2. HEAD LEASE
The Subtenant agrees to be bound by all the covenants, terms, and conditions of the Original Lease. No part of the Original Lease or this Agreement shall be modified except such modification is agreed by the Parties.
3. CONTINUING LIABILITY
The Tenant agrees and undertakes to continue to be bound and remain liable to the Lease, and that a breach of the provisions of the Lease shall entitle the Landlord to recover possession of the Subleased Premises, thereby automatically terminating this Agreement.
4. RENT
The Subtenant shall pay the sum of ₦________ (________) every week. The rent shall be due on Mondays. The rent shall be considered advance payment for that week.
The Subtenant shall pay the reserved rent in cash.
If the reserved rent payable under this Agreement is not paid within the period the rent is due for payment, the Subtenant will be charged ________% (________ percent) of the unpaid rent for every period the Subtenant is in default.
5. MAINTENANCE OF ORDER
The Subtenant agrees not to make or permit the making of any loud or improper noises or otherwise cause nuisance to other residents; and not to at any time during the said term, create or permit to be done on Subleased Premises, any act which may constitute nuisance or annoyance to neighbours and occupiers of adjoining premises.
6. ALTERATIONS AND IMPROVEMENT OF THE PREMISES
The Subtenant shall not paint, or significantly alter the appearance of the Subleased Premises; place or permit the placement of any placard, notice, poster or any sign for advertising or other purpose inside and outside the Subleased Premises; install any plant, equipment, machinery or apparatus; demolishing, rebuilding or restructuring any part of the Subleased Premises or construct, alter, change or make any improvements in the building without obtaining the prior consent of the Landlord.
7. MAINTENANCE AND REPAIR
The Subtenant and other persons authorized by the Subtenant shall at all times maintain and keep the Subleased Premises and appurtenances in good and sanitary condition and repair with reasonable wear and tear during the term of this Agreement and any renewal thereof.
8. ASSIGNMENT AND SUB-LETTING OF THE PREMISES
The Subtenant undertakes not to let, sublet, short let, or license the use of the Subleased Premises or any part thereof without obtaining prior consent from the Landlord.
9. 55825885588
52 252 22582 8228222 252 25258255 525 522522 2252825228 822252 828 2525558 2528552822, 2588 825222222 85588 225282522 5522252885882 258222 252 25258255 525 558222522 52522 22 52228 252 22582. 52 252 558222522 88285228 522 25255222258 252888822 22 2588 825222222, 252 825222222 85588 82 5222528225, 525 82 85588 82 858258 225 252 25258255 22 22225 252 558825825 25228828 5222 252 88855282 22 5258225882 222882 22 2522 2588 2288288822 525 22 22282 252 558222522 525 588 22525 2258228 22525 82 252 25228828.
82 252 2528552822 25 22528252822 22 2588 825222222 25 252 82582 8228222 252 25258255 525 522522, 252 558222522 85588 8582, 855522525, 525 5288825 252 558825825 25228828 22222525 8825 588 5225522252828 82 252 8522 822582822 82 858 52 252 822222822222 22 252 55882582.
10. ABANDONMENT
If at any time during the term of the Sublease, the Subtenant abandons the Subleased Premises or any part thereof before the date of termination, the Landlord shall have the right to repossess the Subleased Premises. The Subtenant will be liable to pay any outstanding rent and other payments which have become due and payable.
11. DISPUTE RESOLUTION
The Parties agree to use their best endeavours to negotiate and settle any dispute or difference of opinion between them, arising from or connected with this Agreement amicably through negotiation. If the Parties cannot resolve their disputes amicably within 30 days, the matter shall be referred to mediation.
The Parties may be represented by legal practitioners in the mediation proceeding. The legal representatives shall provide legal counsel or advice to the Party they are representative, negotiate or execute a binding settlement agreement on behalf of the Party being represented, and encourage amicable and mutual settlement between the Parties.
Experts, professionals, and witnesses may be required and accepted in the mediation process. All parties involved in the mediation process, including experts, professionals, witnesses shall be bound by the rules of confidentiality under this Agreement. The mediation process shall take place at the following venue: ________.The Mediator shall determine the procedure of the mediation proceedings.
The mediation proceeding shall be conducted in English language. If either of the Parties agrees otherwise, that Party shall, with the consent of the other Party, participate in the mediation proceeding in any other language provided that the Party provides an interpreter at their own expense.
In the event that the Parties are unable to resolve their dispute or reach a mutual settlement through mediation, the matter shall be referred to arbitration.
12. JURISDICTION
The Parties agree that the Nigerian courts shall have the exclusive jurisdiction to settle any dispute or claim in connection with this Agreement.
13. GOVERNING LAW
This Sublease Agreement shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.
14. GENERAL PROVISIONS
(I) Variation: This Agreement may be amended or varied by either of the Parties, and such variation must be agreed to and signed by the Parties to this Agreement. No delay or omission to exercise any right under this Agreement shall be construed as a waiver.
(II) Notices: All notices under this Agreement may be given orally or in writing. The notices shall either be delivered personally or mailed by a certified mail to the other Party's address or that other Party's attorney.
(III) Headings: Headings in this Agreement are used for convenience ony and shall not be construed to limit or affect the terms of this Agreement.
(IV) Counterparts: This Agreement many be executed in counterparts, all of which constitutes one Agreement.
(V) Entire Agreement: This Agreement and any other agreement described as an addendum to this Agreement constitutes the entire agreement between the Parties and supersedes any prior contrary written or oral agreement made between them.
(VI) Assignment: No Party shall assign any of its obligation or duties under this Agreement, without the prior written consent of the other Party.
(VII) Enurement: This Agreement will enure the benefit of and be binding on the Parties and their respective heirs, executors, administrators and permitted successors and assigns.
(VIII) Cumulative Rights: The rights of the Parties in this Agreement are cumulative and shall not be construed as exclusive except as otherwise stated by the law.
(IX) Waivers: Any term or provision of this Agreement may be waived in writing at any time by the Party entitled to such benefit. No delay, omission to exercise any right shall not be construed as waiver.
(X) Severability: If any part of this Agreement is held unenforceable, the remainder of this Agreement shall continue to be in force and have effect.
(XI) Further Assurance: The Parties shall execute and deliver all such documents and take all such actions and all steps to procure the performance of all such acts as may be necessary or incidental to give effect to the provisions of this Agreement.
IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above.
SIGNED by the within named Tenant
____________________
________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
SIGNED by the within named Subtenant
_____________________
________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
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