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Lease Extension Agreement Template for Ireland

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Key Requirements PROMPT example:

Lease Extension Agreement

"Need a Lease Extension Agreement under Irish law for a commercial retail property in Dublin, extending the current lease for 10 additional years from March 2025, with inclusion of annual rent reviews and specific provisions for property improvements."

Document background
The Lease Extension Agreement is a critical document used in Irish property law when parties wish to extend an existing lease without creating an entirely new agreement. It becomes necessary when the original lease term is approaching its end, but both parties wish to continue their landlord-tenant relationship. This document typically includes details about the extended term length, any adjusted rent payments, modified conditions, and specific requirements under Irish property law. The agreement must comply with relevant Irish legislation, including the Landlord and Tenant (Amendment) Act 1980 and registration requirements with the Property Registration Authority. It's particularly important in commercial settings where business continuity is crucial, but is equally applicable to residential properties where long-term tenancy arrangements exist.
Suggested Sections

1. Parties: Identifies and defines the Landlord and Tenant, including their full legal names and addresses

2. Background: Recites the existence of the original lease, its key terms, and the parties' intention to extend it

3. Definitions: Defines key terms used throughout the agreement, including 'Original Lease', 'Extension Period', and 'Premium'

4. Extension of Term: Specifies the new extended term, commencement date, and termination date

5. Premium and Consideration: Details any premium payable for the extension and payment terms

6. Rent: Specifies the rent payable during the extended term, including any review mechanisms

7. Covenants and Conditions: Confirms the continuation of existing lease covenants and conditions during the extended term

8. Registration: Provisions for registering the extension with relevant authorities

9. Costs: Specifies responsibility for legal and registration costs

10. Governing Law: Confirms Irish law as the governing law of the agreement

11. Execution: Formal execution block for signing by all parties

Optional Sections

1. Variation of Original Lease Terms: Include when any original lease terms are being modified as part of the extension

2. Guarantor Provisions: Required when the original lease has a guarantor who needs to consent to the extension

3. Break Clause: Optional provision allowing either party to terminate the lease early under specified conditions

4. Rent Review Provisions: Include when new or modified rent review mechanisms are being introduced for the extension period

5. Statutory Declarations: Include when required under Irish law for specific types of commercial leases

6. Property Improvements: Include when documenting agreed improvements or modifications to the property during the extended term

7. Service Charge Adjustments: Include for properties with service charges that need modification during the extended term

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the property including any plans or maps

2. Schedule 2 - Original Lease: Copy or summary of the original lease terms that continue to apply

3. Schedule 3 - Rent Schedule: Detailed breakdown of rent payments and review dates throughout the extended term

4. Schedule 4 - Alterations and Improvements: List of any permitted or planned alterations to the property

5. Appendix A - Property Plans: Current plans and drawings of the property

6. Appendix B - Photographic Schedule: Current photographs documenting the property's condition at extension

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

Real Estate

Commercial Property

Residential Property

Retail

Hospitality

Office Space

Industrial

Healthcare

Education

Manufacturing

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Compliance

Property Administration

Asset Management

Risk Management

Corporate Services

Relevant Roles

Property Manager

Real Estate Director

Facilities Manager

Legal Counsel

Commercial Director

Operations Manager

Asset Manager

Leasing Manager

Property Administrator

Compliance Officer

Real Estate Partner

Company Secretary

Finance Director

Portfolio Manager

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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