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The Company Tenancy Agreement is essential for businesses seeking to lease commercial space in Saudi Arabia. This document is used when a company (as opposed to an individual) wishes to rent commercial property for business purposes, ensuring compliance with Saudi Arabian real estate laws and Sharia principles. It typically comes into play during business expansion, relocation, or initial setup of operations. The agreement covers crucial elements such as rental terms, maintenance obligations, permitted use, and compliance requirements with local regulations. It's particularly important in the context of Saudi Vision 2030's economic reforms, which have introduced new regulations affecting commercial real estate relationships. The document must align with both the Civil Code and specific real estate regulations while accommodating modern commercial practices in Saudi Arabia.

1. Parties: Identification of the Landlord and Tenant with full legal names, commercial registration numbers, and authorized representatives

2. Background: Context of the agreement including property ownership confirmation and intention to lease

3. Definitions: Definitions of key terms used throughout the agreement including Property, Term, Rent, and other important concepts

4. Demise: The formal granting of the lease and specification of the leased premises

5. Term: Duration of the lease including start and end dates

6. Rent and Payment Terms: Rent amount, payment schedule, method of payment, and late payment consequences

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

8. Permitted Use: Specified allowed uses of the premises and any restrictions

9. Tenant Obligations: Complete list of tenant's responsibilities including maintenance, repairs, and compliance with regulations

10. Landlord Obligations: Complete list of landlord's responsibilities and services to be provided

11. Utilities and Services: Responsibility for utilities, service charges, and related costs

12. Insurance: Required insurance coverage for both parties

13. Maintenance and Repairs: Detailed responsibilities for maintenance, repairs, and renovations

14. Assignment and Subletting: Rules and restrictions regarding assignment and subletting of the premises

15. Termination: Grounds for termination and the process for both parties

16. Governing Law and Jurisdiction: Specification of Saudi law as governing law and relevant courts

17. Notices: Process and addresses for formal communications between parties

18. Execution: Signature blocks and execution requirements