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5 Year Commercial Lease Agreement Template for Philippines

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Key Requirements PROMPT example:

5 Year Commercial Lease Agreement

"I need a 5 Year Commercial Lease Agreement for a retail space in a Manila shopping mall, starting March 2025, with specific provisions for food and beverage operations including grease trap installations and ventilation requirements."

Document background
The 5 Year Commercial Lease Agreement is a crucial document for businesses establishing or maintaining their physical presence in the Philippines. It serves as the primary contractual instrument governing medium to long-term commercial property rentals, typically used for retail spaces, offices, warehouses, or other business premises. This agreement must comply with Philippine civil law, particularly the Civil Code of the Philippines and relevant commercial regulations. It includes comprehensive provisions covering rental terms, maintenance obligations, security deposits, insurance requirements, and dispute resolution mechanisms. The document is especially important given the significant financial commitment involved in five-year terms and the need to ensure clear understanding between parties regarding their rights and obligations under Philippine jurisdiction.
Suggested Sections

1. Parties: Identification of the Lessor and Lessee with complete legal names and addresses

2. Background: Context of the lease agreement, including brief description of the property and intended commercial use

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

4. Demised Premises: Detailed description of the leased property, including exact location, measurements, and boundaries

5. Term and Renewal: Duration of the lease (5 years) and any renewal options

6. Rent and Payment Terms: Rental amount, payment schedule, and escalation provisions

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

8. Utilities and Operating Expenses: Responsibilities for utilities, maintenance, and other operating costs

9. Use of Premises: Permitted commercial use and restrictions

10. Maintenance and Repairs: Responsibilities of both parties for maintaining the premises

11. Insurance: Required insurance coverage and obligations

12. Default and Remedies: Events of default and corresponding remedies

13. Assignment and Subletting: Conditions for transferring or subletting the lease

14. Governing Law: Application of Philippine law and jurisdiction

15. Termination: Grounds and procedures for early termination

16. Notices: Method and addresses for official communications

17. Execution: Signature blocks and notarization requirements

Optional Sections

1. Fit-out Period: Terms for initial renovation period, if tenant will customize the space

2. Force Majeure: Provisions for unforeseen circumstances, particularly relevant post-COVID

3. Environmental Compliance: Special provisions if the business activities have environmental implications

4. Signage Rights: Terms for external and internal signage if relevant to the business

5. Parking: Allocation and terms of parking spaces if applicable

6. Common Areas: Rights and obligations regarding shared facilities if in a multi-tenant building

7. Operating Hours: Specific provisions about business hours if in a managed facility

8. Competition Restrictions: Non-compete provisions if in a retail or specific commercial context

Suggested Schedules

1. Schedule 1 - Floor Plan: Detailed floor plan of the leased premises

2. Schedule 2 - Rent Schedule: Detailed breakdown of rent payments and escalations over the 5-year term

3. Schedule 3 - Building Rules and Regulations: Specific rules and regulations of the building or complex

4. Schedule 4 - Fit-out Guidelines: Technical specifications and requirements for any tenant improvements

5. Schedule 5 - Handover Condition: Detailed description of the premises condition at handover

6. Schedule 6 - Service Charges: Breakdown of additional charges and building services

7. Schedule 7 - Permitted Use: Detailed description of allowed commercial activities

8. Appendix A - Property Documents: Copies of relevant property titles and certificates

9. Appendix B - Insurance Requirements: Detailed insurance specifications and coverage requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions































Clauses






























Relevant Industries

Retail

Office Space

Food and Beverage

Healthcare

Banking and Financial Services

Technology

Manufacturing

Professional Services

Entertainment and Leisure

Education

Logistics and Warehousing

Hospitality

Relevant Teams

Legal

Finance

Operations

Facilities Management

Risk and Compliance

Real Estate

Procurement

Business Development

Corporate Affairs

Administration

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Real Estate Manager

Facilities Manager

Legal Counsel

Property Manager

Business Development Manager

Operations Manager

Finance Director

Commercial Director

Procurement Manager

Risk Manager

Expansion Manager

Store Manager

Branch Manager

Corporate Secretary

Compliance Officer

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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