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The Commercial Space Lease Agreement is a vital legal instrument used in Pakistan when a property owner (landlord) agrees to rent out commercial space to a business tenant. This document is essential for any commercial property transaction in Pakistan and must comply with the Transfer of Property Act 1882, Contract Act 1872, and relevant provincial legislation. It typically includes comprehensive details about the property, rental terms, maintenance responsibilities, permitted use, insurance requirements, and dispute resolution mechanisms. The agreement is particularly important in protecting both parties' interests in commercial tenancies, ensuring clear understanding of rights and obligations, and providing a legal framework for the business relationship. It should be carefully drafted to address specific commercial needs while ensuring compliance with local municipal regulations and zoning laws.

1. Parties: Identification and details of the Landlord and Tenant, including their registered addresses and legal status

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

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

4. Demised Premises: Detailed description of the leased property, including its boundaries and included facilities

5. Lease Term: Duration of the lease, commencement date, and any renewal options

6. Rent and Security Deposit: Rental amount, payment terms, security deposit details, and review mechanisms

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

8. Use of Premises: Permitted use of the property and any restrictions on business activities

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

10. Insurance: Insurance requirements for both parties

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

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

13. Landlord's Covenants: Obligations and promises of the landlord

14. Tenant's Covenants: Obligations and promises of the tenant

15. Default and Remedies: Events of default and available remedies for both parties

16. Termination: Conditions and procedures for termination of the lease

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

18. Notices: Process for serving notices between parties

19. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments