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Operating Company Lease Agreement (Clean Version)
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Operating Company Lease Agreement (Clean Version) - attorney-drafted template. Party names and deal-specific details have been replaced with neutral placeholders. Review before use.
LEASE AGREEMENT
This Lease Agreement (“Lease“) is made and entered into effective as of the ____ day of [DATE] (the “Effective Date”) by and between [COMPANY] (hereinafter referred to as “Landlord“) and [COMPANY], (hereinafter referred to as “Tenant“). Landlord and Tenant are also sometimes referred to herein collectively as the “Parties” or individually as a “Party.”
In consideration of the rents, covenants, and agreements hereinafter set forth, the sufficiency of which is hereby acknowledged and agreed, Landlord and Tenant covenant, warrant, and agree as follows:
AGREEMENT
Leased Premises. The landlord, for and in consideration of the rents agreed to be paid by the Tenant as hereinafter specified, does by these presents Lease the following described real property:
Approximately [SPEC] rentable square feet located at [ADDRESS] (“Premises“)
together with such non-exclusive rights-of-way, easements, and similar rights as may reasonably be necessary for access to, ingress and egress from the building and the premises, and the right to use with all other tenants and occupants of the building all common areas and parking.
Term. The term of the Lease shall be three (3) years commencing on the Lease execution date. Rent will begin [DATE], with the three (3) year term ending [DATE] (the “Term”).
Base Rent. Tenant shall pay to Landlord as rental for the Premises during the Term the following amount on a monthly basis (the “Base Rent”):[AMOUNT] per month year 1 ([DATE] – [DATE])[AMOUNT] per month year 2 ([DATE] – [DATE])[AMOUNT] per month year 3 ([DATE] – [DATE])The Base Rent payment shall be paid in advance by Tenant to Landlord care of (C/O) [COMPANY], in equal monthly installments via ACH payment on or before the third (3rd) day of each month during the Term.
In any event, the full amount of the rent specified above shall thereafter be due and payable in accordance with the terms of this Lease. If rent is not paid by the 5th of the month, a late fee of ten percent (10%) per year of the monthly rent will be charged to tenant as a Late Fee.
Extension Option: Not applicable, tenant does not have any extension options.
5. Use of Premises. The Premises shall be used and occupied by Tenant for operation of general product warehousing & distribution, storage & office space (the “Permitted Use”).
6. Additional Rent. None.
7. Alterations and Trade Fixtures. Tenant to take space in its as is condition following the opening up the doorway wall on the north side to provide forklift access which shall be opened up no later than the ____ day of ______________ [YEAR].
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Operating Company Lease Agreement (Clean Version)
Lease Agreements -- US - General