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Commercial Lease End Of Term Template for New Zealand

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Key Requirements PROMPT example:

Commercial Lease End Of Term

"I need a Commercial Lease End of Term document for my retail space in Auckland CBD, where the lease expires on March 31, 2025, with specific requirements for removing custom shop fittings and restoring the storefront to original condition."

Document background
This Commercial Lease End of Term document is essential for properly concluding commercial lease arrangements in New Zealand. It should be used when a commercial lease is approaching its termination date, whether through natural expiry, mutual agreement, or early termination provisions. The document incorporates requirements under New Zealand property law, including the Property Law Act 2007 and relevant commercial legislation. It addresses crucial aspects such as property restoration, final payments, utility disconnections, and the return of keys and security devices. The document serves as a comprehensive checklist and legally binding agreement to ensure all termination obligations are met and to prevent future disputes. It's particularly important for protecting both landlord and tenant interests during the lease conclusion process.
Suggested Sections

1. Parties: Identification of the landlord and tenant, including full legal names and registered addresses

2. Background: Brief summary of the original lease agreement, key dates, and reason for termination

3. Definitions: Key terms used throughout the document including 'Premises', 'Termination Date', 'Original Lease', etc.

4. Termination Acknowledgment: Formal acknowledgment of the lease termination and confirmation of the end date

5. Outstanding Obligations: List of remaining financial obligations including rent, operating expenses, and utilities up to termination date

6. Property Condition Requirements: Specific requirements for the condition in which the property must be returned

7. Make Good Obligations: Detailed requirements for repairs, restoration, and removal of tenant's property

8. Keys and Access: Requirements for returning all keys, access cards, and security devices

9. Final Inspection: Process and timing for final property inspection and condition assessment

10. Release and Discharge: Mutual release of obligations post-termination, subject to completion of requirements

Optional Sections

1. Dispute Resolution: Include when there are existing disputes or likely areas of disagreement about end-of-lease obligations

2. Tenant's Improvements: Include when there are significant tenant improvements that need to be addressed specifically

3. Assignment of Warranties: Include when there are warranties on improvements or equipment that need to be transferred

4. Environmental Matters: Include for properties where environmental compliance or contamination could be an issue

5. Specialized Equipment Removal: Include when there is specialized equipment that requires professional removal or specific procedures

6. Security Deposit: Include when there is a security deposit to be returned or retained

7. Holdover Provisions: Include when there is a possibility of the tenant not vacating by the termination date

Suggested Schedules

1. Schedule 1: Property Inventory: Detailed list of landlord's fixtures and fittings to be accounted for

2. Schedule 2: Condition Report: Detailed assessment of the property's current condition with photographs

3. Schedule 3: Make Good Requirements: Specific list of repairs and restoration works required

4. Schedule 4: Outstanding Payments: Detailed breakdown of any outstanding financial obligations

5. Appendix A: Original Lease Reference: Copy or key details of the original lease agreement

6. Appendix B: Photographic Evidence: Before and after photographs of the premises

7. Appendix C: Compliance Certificates: Any required compliance or safety certificates for handover

Authors

Alex Denne

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

Relevant legal definitions



























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Relevant Industries

Commercial Real Estate

Retail

Office Space

Industrial

Hospitality

Healthcare

Manufacturing

Warehousing

Professional Services

Education

Relevant Teams

Legal

Property Management

Operations

Facilities Management

Finance

Compliance

Real Estate

Administration

Risk Management

Commercial

Relevant Roles

Property Manager

Facility Manager

Legal Counsel

Commercial Lawyer

Real Estate Manager

Operations Manager

Asset Manager

Lease Administrator

Commercial Property Agent

Building Manager

Business Owner

Chief Financial Officer

Compliance Officer

Contract Manager

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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