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The Commercial Property Lease Agreement is a vital legal instrument used in Pakistan when a property owner (lessor) agrees to rent out commercial space to a business tenant (lessee). This document is essential for any commercial property transaction in Pakistan and must comply with various local laws including the Transfer of Property Act 1882, Contract Act 1872, and relevant Provincial Rent Control Acts. It typically includes detailed provisions about property usage, rental terms, maintenance obligations, insurance requirements, and dispute resolution mechanisms. The agreement is particularly important as it provides legal protection for both parties and helps prevent future disputes by clearly documenting all terms and conditions of the commercial tenancy relationship. This type of agreement is commonly used for office spaces, retail locations, warehouses, and other commercial properties throughout Pakistan.

1. Parties: Identification of the landlord and tenant with complete details including registration numbers for companies

2. Background: Brief context of the agreement and property background

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

4. Demise: Formal grant of lease and description of the leased premises

5. Term and Renewal: Duration of lease, commencement date, and renewal provisions

6. Rent and Payment Terms: Rent amount, payment schedule, and method of payment

7. Security Deposit: Amount, payment terms, and conditions for return of security deposit

8. Utilities and Outgoings: Responsibility for utilities, maintenance charges, and other expenses

9. Use of Premises: Permitted use of the property and any restrictions

10. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance

11. Alterations and Improvements: Rules regarding modifications to the property

12. Insurance: Insurance requirements for both parties

13. Assignment and Subletting: Conditions under which the tenant may assign or sublet

14. Landlord's Covenants: Obligations and warranties of the landlord

15. Tenant's Covenants: Obligations and warranties of the tenant

16. Termination: Grounds and procedure for termination of lease

17. Governing Law: Specification of Pakistani law as governing law

18. Dispute Resolution: Process for resolving disputes between parties

19. Notices: Method and addresses for serving notices

20. Force Majeure: Provisions for unforeseen circumstances and their impact