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The Corporate Lease Agreement is essential for businesses seeking to establish or expand their physical presence in Saudi Arabia. This document is specifically designed to comply with Saudi Arabian law, including recent reforms under Vision 2030, and incorporates both modern commercial practices and traditional Sharia principles. It is typically used when one corporate entity wishes to lease commercial property from another, whether for office space, retail locations, warehouses, or industrial facilities. The agreement covers crucial elements such as rental terms, maintenance responsibilities, permitted use, and compliance requirements, while ensuring adherence to local registration requirements through platforms like Ejari. As a Corporate Lease Agreement, it includes specific provisions for corporate tenancies, such as commercial registration requirements, VAT considerations, and corporate guarantees, making it distinct from standard property leases.

1. Parties: Identification of the Landlord and Tenant, including full corporate details and commercial registration numbers

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

3. Definitions: Key terms used throughout the agreement, including specific Saudi legal and commercial terms

4. Property Description: Detailed description of the leased premises, including location, size, and permitted use

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

6. Rent and Payment Terms: Rental amount, payment schedule, and method of payment, including VAT provisions

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

8. Utilities and Services: Responsibility for utilities, service charges, and maintenance obligations

9. Use of Premises: Permitted business activities and compliance with local regulations

10. Maintenance and Repairs: Responsibilities of each party for property maintenance and repairs

11. Insurance: Required insurance coverage for both parties

12. Alterations and Improvements: Provisions regarding modifications to the premises

13. Assignment and Subletting: Restrictions and conditions for transfer of lease rights

14. Default and Remedies: Events of default and available remedies under Saudi law

15. Termination: Grounds and procedures for early termination

16. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution mechanisms

17. Notices: Communication procedures between parties

18. Execution: Signature requirements and attestation provisions