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5 Year Commercial Lease Agreement Template for Canada

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Key Requirements PROMPT example:

5 Year Commercial Lease Agreement

"I need a 5 Year Commercial Lease Agreement for a retail space in downtown Toronto, with specific provisions for restaurant use and outdoor patio rights, starting March 1, 2025."

Document background
This 5 Year Commercial Lease Agreement is essential for establishing long-term commercial tenancy relationships in Canada. It is specifically designed for situations where a business entity intends to lease commercial space for a medium-term period, providing stability for both landlord and tenant. The agreement encompasses all necessary elements required under Canadian law, including proper rent structuring, GST/HST considerations, and provincial-specific requirements. It's particularly suitable for established businesses seeking a significant commitment to a location while maintaining flexibility for future growth. The document includes comprehensive provisions for operating costs, maintenance obligations, insurance requirements, and potential property modifications, all aligned with Canadian commercial property regulations and standard business practices.
Suggested Sections

1. Parties: Identification of the landlord and tenant, including legal names and addresses

2. Background: Context of the lease agreement and brief description of the premises

3. Definitions: Definitions of key terms used throughout the lease agreement

4. Demise and Term: Description of the leased premises and duration of the lease

5. Rent and Additional Rent: Base rent, operating costs, property taxes, and other financial obligations

6. Security Deposit: Amount, form, and conditions of the security deposit

7. Use of Premises: Permitted use of the premises and any restrictions

8. Maintenance and Repairs: Responsibilities for maintenance, repairs, and replacements

9. Utilities and Services: Responsibility for utilities and building services

10. Insurance: Required insurance coverage for both parties

11. Assignment and Subletting: Conditions for transferring or subletting the lease

12. Alterations: Rules regarding modifications to the premises

13. Landlord's Covenants: Landlord's obligations and responsibilities

14. Tenant's Covenants: Tenant's obligations and responsibilities

15. Default and Remedies: Events of default and available remedies

16. Termination: Conditions and procedures for lease termination

17. Notice: Methods and requirements for formal communications

18. General Provisions: Miscellaneous legal provisions including governing law

Optional Sections

1. Operating Hours: Required for retail properties or properties in mixed-use buildings with specific operating hour restrictions

2. Environmental Matters: Required for industrial properties or when handling hazardous materials

3. Signage Rights: Important for retail or commercial properties requiring exterior signage

4. Parking: Required when specific parking arrangements need to be detailed

5. Common Areas: Required for multi-tenant buildings or shopping centers

6. Option to Extend: Include when offering tenant the right to extend the lease term

7. Right of First Refusal: Include when giving tenant priority rights to lease additional space

8. Tenant Improvement Work: Required when premises will be modified before or during tenancy

9. Operating Covenants: Required for retail properties with specific operational requirements

10. Green Building Standards: Include for LEED-certified or environmentally conscious buildings

Suggested Schedules

1. Schedule A - Floor Plan: Detailed plan showing the leased premises and measurements

2. Schedule B - Operating Costs: Detailed breakdown of includable operating costs and exclusions

3. Schedule C - Rules and Regulations: Building rules and regulations for all tenants

4. Schedule D - Tenant's Work: Specifications for any tenant improvements or modifications

5. Schedule E - Building Services: Details of services provided by landlord and hours of operation

6. Schedule F - Rent Schedule: Detailed breakdown of rent payments throughout the term

7. Schedule G - Environmental Standards: Environmental requirements and prohibited materials

8. Schedule H - Signage Specifications: Requirements and specifications for tenant signage

9. Schedule I - HVAC Standards: Standards for heating, ventilation, and air conditioning

10. Schedule J - Form of Tenant Insurance Certificate: Required form and content of insurance certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions














































Clauses
































Relevant Industries

Retail

Office Space

Industrial

Hospitality

Healthcare

Professional Services

Technology

Manufacturing

Warehousing

Financial Services

Education

Entertainment

Food Services

Logistics

Relevant Teams

Legal

Finance

Operations

Facilities Management

Real Estate

Risk Management

Compliance

Administrative Services

Property Management

Asset Management

Business Development

Contract Management

Relevant Roles

Property Manager

Real Estate Director

Facilities Manager

Chief Financial Officer

Commercial Lawyer

Business Development Manager

Operations Director

Risk Manager

Compliance Officer

Real Estate Asset Manager

Leasing Manager

Contract Administrator

Corporate Counsel

Finance Director

Chief Operating Officer

Business Owner

Property Administrator

Lease Administrator

Industries












Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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