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The Business Lease Purchase Agreement is a sophisticated legal instrument used in Irish commercial property transactions where a business seeks to combine immediate occupancy with future ownership rights. This document is particularly relevant when businesses want to spread the cost of property acquisition over time or when sellers prefer a graduated exit from their property ownership. The agreement, governed by Irish law, includes comprehensive provisions covering lease terms, purchase mechanisms, property maintenance, insurance requirements, and completion procedures. It's commonly used in business expansion scenarios, corporate relocations, or strategic property acquisitions, offering flexibility while ensuring legal compliance with Irish property and commercial law requirements. The document typically includes detailed schedules for property specifications, payment terms, and condition reports, making it suitable for various commercial property types and business scenarios.

1. Parties: Identification of the lessor/seller and lessee/purchaser, including full legal names, registered addresses, and company registration numbers if applicable

2. Background: Context of the agreement, including brief property description and purpose of the lease purchase arrangement

3. Definitions: Definitions of key terms used throughout the agreement, including Property, Commencement Date, Purchase Option Date, Purchase Price, etc.

4. Lease Terms: Core lease provisions including duration, rent amounts, payment terms, and rent review mechanisms

5. Property Use and Maintenance: Permitted use of the property, maintenance obligations, and repair responsibilities

6. Purchase Option: Details of the purchase option, including price calculation, exercise period, and completion requirements

7. Insurance and Risk: Insurance requirements, risk allocation, and indemnification provisions

8. Tenant Covenants: Specific obligations and promises of the tenant during the lease period

9. Landlord Covenants: Specific obligations and promises of the landlord during the lease period

10. Exercise of Purchase Option: Process and requirements for exercising the purchase option

11. Completion of Purchase: Procedures and requirements for completing the property purchase

12. Default and Remedies: Events of default, consequences, and available remedies for both parties

13. Termination: Circumstances and procedures for early termination of the agreement

14. Notices: Requirements for formal communications between parties

15. Governing Law: Confirmation of Irish law as governing law and jurisdiction