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The Company Let Agreement is a specialized commercial lease document used in Saudi Arabia when one company (as landlord) leases commercial property to another company (as tenant). This document is essential for businesses establishing or expanding their physical presence in Saudi Arabia and must comply with both Saudi commercial law and Shariah principles. It includes detailed provisions for rent payment, maintenance obligations, permitted use restrictions, and dispute resolution mechanisms, while ensuring adherence to local municipality regulations and building codes. The agreement is particularly important as it incorporates specific requirements for corporate entities operating in Saudi Arabia, including commercial registration requirements and necessary governmental approvals. It serves as a comprehensive framework for managing commercial property relationships between corporate entities while protecting the interests of both parties under Saudi jurisdiction.

1. Parties: Identification of the landlord and tenant companies, including their commercial registration numbers and authorized signatories

2. Background: Context of the lease agreement, property description, and purpose of the letting

3. Definitions and Interpretation: Key terms used throughout the agreement, including Arabic/English translations where necessary

4. Demise: Formal grant of lease, specifying the exact premises being leased

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

6. Rent and Payment Terms: Rent amount, payment schedule, and method of payment in compliance with Shariah principles

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

8. Use of Premises: Permitted use of property and compliance with Saudi regulations

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

10. Utilities and Services: Responsibilities for utility connections, payments, and service charges

11. Insurance: Required insurance coverage and party responsibilities

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

13. Assignment and Subletting: Restrictions and conditions for transferring or subletting the premises

14. Landlord's Covenants: Obligations and warranties of the landlord

15. Tenant's Covenants: Obligations and warranties of the tenant

16. Termination: Grounds and procedures for early termination

17. Dispute Resolution: Process for resolving disputes under Saudi law

18. Notices: Format and method of delivering official communications

19. Governing Law: Confirmation of Saudi law application and Shariah compliance