Sample Commercial Lease Agreement Philippines

Sample Commercial Lease Agreement Philippines

The tenant has the right, without the landlord`s consent, to transfer this rent to a company with which the tenant can merge or consolidate, to a subsidiary of the tenant, to a company under common control with the tenant or to a buyer for the bulk of the entire rental property. Except as noted above, the tenant cannot sublet all or part of the renters or give up all or part of that tenancy without the consent of the lessor, this consent is not improperly withheld or delayed. Panda-Tip: If the rented property is part of a building or complex with several units, it is useful to add a card to the rental agreement itself. Panda-Tipp: As commercial leases can be long and most of the conditions between many tenants of the same commercial property will be the same, it is a good idea to have the basic information listed on the first page and then the standard conditions. CONSIDERING that LESSOR declares itself ready to lease the property to LESSEE and that the LESSEE are ready to rent the same property; C. Tenants and landlords charge a policy or policy after B.C. for the respective general liability insurance for the respective activities of each building with premiums paid in full at maturity and paid by an insurance company approved by the lessor and are mandatory for this insurance in order to ensure minimum protection of at least 1,000,000 USD with a single personal injury coverage. , property damage or combination. The landlord is listed as an additional insured in the rental policy or in general liability insurance, and the tenant provides the lessor with up-to-date insurance certificates guaranteeing compliance with this paragraph by the tenant. The tenant receives the consent of the tenant insurers to inform the landlord that a policy must expire at least (10) days before.

The landlord is not required to maintain insurance against theft in the rental premises or in the building. 3. Previous condition. – A prerequisite for the effectiveness of this lease is that LESSEE submit to LESSOR a copy of its statutes and statutes as well as the last general fact sheet, including a decision of the board of directors, expressly authorizing the company and the person it represents in this case to enter into this lease with THEOR. , in accordance with the conditions set out in it. NOW THEREFORE, for and taking into account the above premises, the LESSOR rented to the LESSEE and the LESSEE are accepted by the LEASED premises, subject to: During the duration of this rent, tenant has non-exclusive use in common with the owners, other tenants of the building, their customers and guests, the car parks of common cars, single lanes and lanes of traffic , subject to rules and rules of use as the owner requires from time to time. The landlord reserves the right to designate a car park inside or near the building suitable for tenants and tenants` representatives and employees. The tenant must make available to the owner a list of all the license numbers for the tenant`s vehicles, his representatives and collaborators.

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