Commercial Lease Extension Agreement (India)

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A commercial lease agreement involves the lease of a property for business purposes such as a store or office. Commercial leases are typically made for a fixed term. In most cases, at the end of the lease term, the landlord and tenant will either enter a new lease or the tenant will vacate the premises. Under certain circumstances the parties may wish to extend the lease past the expiration date but not enter into an entirely new lease. In this case, the landlord and tenant should enter into a Lease Extension Agreement.

A Commercial Lease Extension Agreement allows the parties to incorporate the controlling provisions of the original lease. This agreement will set forth the extension terms in writing and avoid any problems and misunderstandings between the parties surrounding the lease extension.

Among others, this form includes the following provisions:
  • Extension of the Initial Lease Term
  • Revised Rental Payments
  • Obligations Under the Lease
  • General Provisions
This lawyer-prepared packet includes:
  1. Instructions and Checklist
  2. General Information
  3. Commercial Lease Extension Agreement for use in India
Law Compliance: This form complies with the laws of the states and territories of India
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
















Commercial Lease Extension Agreement
(India)








This Packet Includes:
1. Instructions and Checklist
2. General Information
3. Commercial Lease Extension Agreement





Instructions and Checklist
Commercial Lease Extension Agreement

   The Landlord and the Tenant must sign the Extension.

   Generally both the Landlord and the Tenant will each want an original, signed copy of Extension. Therefore, if there is one Landlord and one Tenant, two original Extensions should be executed (i.e. signed).

   These forms contain the basic terms and language that should be included in similar agreements.

   Laws vary from time to time. These forms are not intended and are not a substitute for legal advice. These forms should only be a starting point for you and should not be used or signed before first consulting with a lawyer to ensure that it addresses your particular situation. A lawyer should be consulted before negotiating any document with another party.

   The purchase and use of these forms is subject to the “Disclaimers and Terms of Use” found at www.findlegalforms.com




General Information
Commercial Lease Extension Agreement

A commercial lease agreement involves the lease of real property for business purposes, such as a store, office, or commercial building.  A commercial lease agreement is typically made for a fixed term (e.g. one year).  In most cases, at the end of the lease term, the landlord and tenant will either enter a new lease, or the tenant will vacate the premises.  However, under certain circumstances, the parties may wish to extend the lease past the expiration of the lease term, but would rather not enter into an entirely new lease.  In this case, the landlord and tenant should utilise a Commercial Lease Extension Agreement.

The Commercial Lease Extension Agreement allows the parties to incorporate by reference controlling provisions of the original commercial lease agreement, such as provisions pertaining to late payments and taxes, security deposit, permitted use of premises, etc.  In addition, the parties may specify any revised rent payments for the renewal term.  This agreement will enable the parties to avoid many future problems and misunderstandings surrounding the extension.

Laws change from time to time so Landlords and Tenants should become familiar with the laws at present before entering into this type of arrangement. In addition, before using the form you should always consult with your lawyer to ensure that it addresses your specific situation.





DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice.  The use of these materials is not a substitute for legal advice. Only a lawyer can provide legal advice.  A lawyer should be consulted for all serious legal matters.  No Lawyer-Client relationship is created by use of these materials.  

THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. 






COMMERCIAL LEASE EXTENSION AGREEMENT


This Commercial Lease Extension Agreement (the “Extension”) is dated as of ___________, 20____, by and between ____________________________________________ (“Landlord”) and ______________________________________________________________ (“Tenant”) (collectively the “Parties”).

RECITALS

I.   WHEREAS, Landlord and Tenant entered into a Commercial Lease Agreement (the "Lease") dated _________________, 20__ regarding the property located at ________________________________________________________ (the “Premises”) for a term commencing on _________________, 20__, and ending on _________________, 20__ (the "Initial Lease Term.")

II.   WHEREAS, the Parties wish to extend the Initial Lease Term.
NOW, THEREFORE, in consideration of the faithful performance of the obligations set forth herein, and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
TERMS

1.   EXTENSION OF INITIAL LEASE TERM:  The Initial Lease Term shall extend and continue for an additional term, commencing on _________________, 20__, and ending on _________________, 20__ (the "Renewal Term").

2.   REVISED RENT PAYMENTS:  During the Renewal Term, Tenant shall pay Landlord as rent for the Premises the amount of _____________________ Rupees (Rs.__________) each month, payable on the first day of each month of the Renewal Term (the "Rent.")  The first full Rent payment under this Extension is due on _________________, 20__.  If the Renewal Term does not start on the first day of the month or end on the last day of the month, the Rent for the relevant month will be prorated accordingly.

3.   OBLIGATIONS UNDER THE LEASE:  All terms, conditions and obligations of the Lease will remain in effect throughout the Renewal Term, except for those provisions of the Lease that are directly contradicted by this Extension, in which event the terms of this Extension shall control over the Lease.

4.   GENERAL PROVISIONS:

(a)   Severability.  If any part or parts of this Extension shall be held unenforceable for any reason, the remainder of this Extension shall continue in full force and effect.  If any provision of this Extension is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited.

(b)   Binding Effect.  The covenants and conditions contained in this Extension shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties.

(c)   Governing Law.  This Extension shall be governed by and construed in accordance with the laws of India.

IN WITNESS WHEREOF the Parties have executed this Extension as of the date first written above.

LANDLORD:               TENANT:            

_______________________________      ______________________________
Signature                  Signature

_______________________________      ______________________________
Name (please print)               Name (please print)

_______________________________      ______________________________
Title (if applicable)               Title (if applicable)
Number of Pages6
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#34011
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
















Commercial Lease Extension Agreement
(India)








This Packet Includes:
1. Instructions and Checklist
2. General Information
3. Commercial Lease Extension Agreement





Instructions and Checklist
Commercial Lease Extension Agreement

   The Landlord and the Tenant must sign the Extension.

   Generally both the Landlord and the Tenant will each want an original, signed copy of Extension. Therefore, if there is one Landlord and one Tenant, two original Extensions should be executed (i.e. signed).

   These forms contain the basic terms and language that should be included in similar agreements.

   Laws vary from time to time. These forms are not intended and are not a substitute for legal advice. These forms should only be a starting point for you and should not be used or signed before first consulting with a lawyer to ensure that it addresses your particular situation. A lawyer should be consulted before negotiating any document with another party.

   The purchase and use of these forms is subject to the “Disclaimers and Terms of Use” found at www.findlegalforms.com




General Information
Commercial Lease Extension Agreement

A commercial lease agreement involves the lease of real property for business purposes, such as a store, office, or commercial building.  A commercial lease agreement is typically made for a fixed term (e.g. one year).  In most cases, at the end of the lease term, the landlord and tenant will either enter a new lease, or the tenant will vacate the premises.  However, under certain circumstances, the parties may wish to extend the lease past the expiration of the lease term, but would rather not enter into an entirely new lease.  In this case, the landlord and tenant should utilise a Commercial Lease Extension Agreement.

The Commercial Lease Extension Agreement allows the parties to incorporate by reference controlling provisions of the original commercial lease agreement, such as provisions pertaining to late payments and taxes, security deposit, permitted use of premises, etc.  In addition, the parties may specify any revised rent payments for the renewal term.  This agreement will enable the parties to avoid many future problems and misunderstandings surrounding the extension.

Laws change from time to time so Landlords and Tenants should become familiar with the laws at present before entering into this type of arrangement. In addition, before using the form you should always consult with your lawyer to ensure that it addresses your specific situation.





DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice.  The use of these materials is not a substitute for legal advice. Only a lawyer can provide legal advice.  A lawyer should be consulted for all serious legal matters.  No Lawyer-Client relationship is created by use of these materials.  

THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. 






COMMERCIAL LEASE EXTENSION AGREEMENT


This Commercial Lease Extension Agreement (the “Extension”) is dated as of ___________, 20____, by and between ____________________________________________ (“Landlord”) and ______________________________________________________________ (“Tenant”) (collectively the “Parties”).

RECITALS

I.   WHEREAS, Landlord and Tenant entered into a Commercial Lease Agreement (the "Lease") dated _________________, 20__ regarding the property located at ________________________________________________________ (the “Premises”) for a term commencing on _________________, 20__, and ending on _________________, 20__ (the "Initial Lease Term.")

II.   WHEREAS, the Parties wish to extend the Initial Lease Term.
NOW, THEREFORE, in consideration of the faithful performance of the obligations set forth herein, and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
TERMS

1.   EXTENSION OF INITIAL LEASE TERM:  The Initial Lease Term shall extend and continue for an additional term, commencing on _________________, 20__, and ending on _________________, 20__ (the "Renewal Term").

2.   REVISED RENT PAYMENTS:  During the Renewal Term, Tenant shall pay Landlord as rent for the Premises the amount of _____________________ Rupees (Rs.__________) each month, payable on the first day of each month of the Renewal Term (the "Rent.")  The first full Rent payment under this Extension is due on _________________, 20__.  If the Renewal Term does not start on the first day of the month or end on the last day of the month, the Rent for the relevant month will be prorated accordingly.

3.   OBLIGATIONS UNDER THE LEASE:  All terms, conditions and obligations of the Lease will remain in effect throughout the Renewal Term, except for those provisions of the Lease that are directly contradicted by this Extension, in which event the terms of this Extension shall control over the Lease.

4.   GENERAL PROVISIONS:

(a)   Severability.  If any part or parts of this Extension shall be held unenforceable for any reason, the remainder of this Extension shall continue in full force and effect.  If any provision of this Extension is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited.

(b)   Binding Effect.  The covenants and conditions contained in this Extension shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties.

(c)   Governing Law.  This Extension shall be governed by and construed in accordance with the laws of India.

IN WITNESS WHEREOF the Parties have executed this Extension as of the date first written above.

LANDLORD:               TENANT:            

_______________________________      ______________________________
Signature                  Signature

_______________________________      ______________________________
Name (please print)               Name (please print)

_______________________________      ______________________________
Title (if applicable)               Title (if applicable)

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