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Deed Of Variation Commercial Lease

Deed Of Variation Commercial Lease Template for New Zealand

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Key Requirements PROMPT example:

Deed Of Variation Commercial Lease

"I need a Deed of Variation Commercial Lease to extend our current lease term by 5 years and increase the retail premises area by adding the adjacent unit (Unit 4) at 123 Queen Street, Auckland, with the variation to take effect from March 1, 2025."

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Document background
The Deed of Variation Commercial Lease is a crucial document in New Zealand's commercial property landscape, designed to facilitate changes to existing lease arrangements without requiring a completely new lease agreement. This document becomes necessary when parties need to modify terms such as rent, lease duration, premises area, or other commercial conditions in response to changing business needs or market conditions. It must comply with New Zealand's Property Law Act 2007 and related legislation, ensuring all variations are properly documented and legally enforceable. The deed serves as an addendum to the original lease, maintaining the fundamental landlord-tenant relationship while incorporating agreed changes.
Suggested Sections

1. Parties: Identifies all parties to the deed, including the landlord, tenant, and any guarantors

2. Background: Recitals explaining the existing lease arrangement and the reason for variation

3. Definitions and Interpretation: Defines key terms used in the deed and establishes interpretation principles

4. Operative Date: Specifies when the variations take effect

5. Confirmation of Lease: Confirms that the original lease remains in force except as modified by this deed

6. Variations: Details the specific changes being made to the original lease

7. Costs: Specifies responsibility for costs associated with preparing and executing the deed

8. Registration: Addresses requirements for registration of the variation if the original lease is registered

9. Execution: Formal execution block for all parties to sign, including witnesses as required for a deed

Optional Sections

1. Consent of Mortgagee: Required when the landlord's mortgagee needs to consent to the variation

2. Guarantor's Acknowledgment: Required when the original lease has guarantors who need to confirm their continued obligations

3. GST Provisions: Required when the variation affects GST treatment or payments

4. Resource Management Act Compliance: Required when variations affect property use or require council consent

5. Insurance Provisions: Required when variations affect insurance obligations

6. Building Act Compliance: Required when variations relate to building works or compliance

7. Rent Review Modifications: Required when changing rent review mechanisms or dates

Suggested Schedules

1. Schedule 1 - Original Lease: Copy or details of the original lease being varied

2. Schedule 2 - Varied Terms: Detailed list of specific terms being varied, showing both original and new versions

3. Schedule 3 - Title Details: Legal description of the premises and title reference

4. Appendix A - Plans: Required if variation affects premises area or boundaries

5. Appendix B - Special Conditions: Any special conditions specific to the variation

6. Appendix C - Mortgagee Consent: Formal consent document from mortgagee if required

Authors

Alex Denne

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

alex.den.21@genieai.co
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Relevant Industries

Real Estate

Retail

Hospitality

Professional Services

Manufacturing

Warehousing and Logistics

Healthcare

Education

Technology

Financial Services

Industrial

Office and Commercial

Relevant Teams

Legal

Property Management

Operations

Finance

Compliance

Risk Management

Facilities Management

Asset Management

Real Estate

Administration

Relevant Roles

Property Manager

Commercial Property Lawyer

Real Estate Manager

Facilities Manager

Operations Director

Chief Financial Officer

Legal Counsel

Lease Administrator

Asset Manager

Commercial Director

Business Owner

Company Secretary

Risk Manager

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

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