Shopping Center Lease Agreement
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Introduction
The lease agreement for a shopping centre is undoubtedly the most detailed commercial lease. Its content differs from other commercial leases by the addition of specific provisions which are not found in other types of lease. The additions made to such lease, besides the use of a percentage rent, mostly relate to the management and promotion of the shopping centre.
To ensure that its shopping centre operates as smoothly as possible, the lessor requires that all potential tenants agree to a standardized lease template, at least for purposes of negotiation. This document establishes the main components of the legal, administrative and financial framework governing such lease.
Description
The Lease Agreement for a shopping centre is the legal instrument by which a person, called the LESSOR, agrees to provide to a second person, called the LESSEE, the peaceful enjoyment of rented space in a mall or shopping centre for a specific period of time and in consideration of the payment of a sum of money called rent.
Use
We recommend the use of this legal document for the lease of space in a shopping centre. This document is a pro forma document, a standard form that the lessor will use with all its tenants in order to standardize the management of the centre and its relationships with his tenants. This document contains all the elements of a contract of adhesion as defined in the Civil code of Quebec, so it is important to be flexible when using it so as to avoid the consequences provided by the Civil code of Quebec. See provision 0.01.19 of the document for more information.
Table of Contents
0.00 INTERPRETATION
0.01 Definitions
0.01.01 Activities
0.01.02 Area of the Leased Premises
0.01.03 Breach
0.01.04 Change in Control
0.01.05 Confidential Information
0.01.06 Event of Default
0.01.07 Financial Year
0.01.08 Force Majeure
0.01.09 Full Term
0.01.10 Fundamental Provisions
0.01.11 Immoveable
0.01.12 Initial Term
0.01.13 Installations and Common Areas
0.01.14 Land
0.01.15 Land Taxes
0.01.16 Lease
0.01.17 Leased Premises
0.01.18 Leasehold Improvements
0.01.19 Legal Representatives
0.01.20 LESSEE’s Property
0.01.21 LESSOR
0.01.22 Occupancy Period
0.01.23 Offer
0.01.24 Operating Expenses
0.01.25 PARTY
0.01.26 Person
0.01.27 Prime Rate
0.01.28 Proportional Part
0.01.29 Shopping Centre
0.01.30 Total Rental Floor Area
0.02 Precedence
0.03 Jurisdiction
0.03.01 Governing Law
0.03.02 Non-compliance
0.04 Miscellaneous
0.04.01 Cumulative Rights
0.04.02 Time and Dates
0.04.03 Financial References
0.04.04 References within Agreement
0.04.05 Gender and Number
0.04.06 Headings
0.04.07 Presumptions
0.04.08 Knowledge
0.04.09 Approval
0.04.10 GAAP
1.00 PURPOSE
1.01 Lease
1.02 Conditions
1.02.01 Required by LESSOR
1.02.02 Required by LESSEE
1.02.03 Choice
2.00 CONSIDERATION
2.01 Base Rent
2.01.01 Initial Term
2.01.02 Renewal
2.01.03 Assignment
2.02 Additional Rent
2.02.01 Computation
2.02.02 Adjustment
2.03 Percentage Rent
3.00 TERMS OF PAYMENT
3.01 Base Rent
3.01.01 Deposit
3.01.02 Monthly Payments
3.02 Additional Rent
3.02.01 Estimate
3.02.02 Adjustment
3.02.03 Modalities of the Annual Reports
3.03 Percentage Rent
3.03.01 Monthly Statement of Gross Revenue
3.03.02 Annual Statement of Gross Revenue
3.03.03 Books and Registers
3.03.04 Examination and Verification Right
3.03.05 Failure of LESSEE to Remit the Statements of Gross Revenue
3.04 Arrears
3.05 Place of Payment
3.06 Imputation
3.07 Renunciation of Compensation
3.08 Post-dated Cheques
3.09 Disbursements
4.00 SECURITY
4.01 Moveable Hypothec Without Delivery
4.02 SURETYSHIP
5.00 MUTUAL REPRESENTATIONS AND WARRANTIES
5.01 Declaration of Intent
5.02 Other Promises, Representations or Declarations
5.03 Repair of the Leased Premises
5.04 Binding Agreement
5.05 Canadian Resident
5.06 Commission
5.07 Nominee
5.08 Fundamental Provisions
5.09 Disclosure
6.00 REPRESENTATIONS AND WARRANTIES OF LESSOR
6.01 Authority
6.02 Knowledge
6.03 Operation Expenses
6.04 Delivery
7.00 REPRESENTATIONS AND WARRANTIES OF LESSEE
7.01 Authority
7.02 State of the Leased Premises
8.00 MUTUAL DUTIES AND OBLIGATIONS
8.01 Confidential Information
8.01.01 Undertaking
8.01.02 End of the Lease
8.02 Indemnification
8.02.01 “Loss”
8.02.02 Scope
8.02.03 Procedure
8.02.04 Deductible
8.02.05 Limitation on Claims
9.00 DUTIES AND OBLIGATIONS OF LESSOR
9.01 Peaceable Enjoyment
9.01.01 Warranty of Personal Act
9.01.02 Warranty of a Hypothecary Creditor’s Act
9.02 Services
9.03 Additional Work
9.04 Operating Expenses
10.00 DUTIES AND OBLIGATIONS OF LESSEE
10.01 Acceptance of the Leased Premises
10.02 Activities
10.03 Insurance
10.03.01 Recognizance
10.03.02 Insured Risks
10.03.03 Insurance Policies
10.03.04 Increased Risks
10.03.05 Copies of Insurance Policies
10.03.06 Default
10.04 Taxes
10.04.01 Liability
10.04.02 Proof of Payment
10.04.03 Contestation
10.04.04 Adjustments
10.05 Visiting of the Premises
10.06 Heating
10.06.01 Maintenance of the System
10.06.02 Maintaining Adequate Temperature
10.07 Maintenance
10.08 Cleaning and Cleanliness
10.09 Fire Prevention
10.10 Use of Premises
10.10.01 Purpose
10.10.02 Non responsibility of LESSOR
10.10.03 Continual Occupancy
10.10.04 Restrictions
10.10.05 Permitted Activities
10.11 Respect of Standards
10.12 Alterations, Additions and Improvements
10.12.01 Right to Make
10.12.02 Supervision
10.12.03 Responsibility and Expenses
10.12.04 Removal
10.12.05 Taxes on Improvements
10.12.06 Privileges and All Charges
10.12.07 Complementary Work
10.12.08 Prohibitions
10.13 Fees for the Preparation of the Lease
10.14 Waiver of LESSOR's Liability
10.14.01 Default
10.14.02 Work and Case of Emergency
10.14.03 Interruption of Services
10.15 Major Repairs
10.16 Deterioration
10.17 Excavation
10.18 Surrender
10.19 Excess Load
10.19.01 Prohibition
10.19.02 Repairs
10.20 Walls
10.21 Delivery of Leased Premises
10.22 Internal By-laws
10.23 Injunction
10.24 Penalty Clause
10.25 Proof of Performance
10.26 Alternative Execution
10.26.01 Payment by LESSOR
10.26.02 Reimbursement
10.27 Commercial Equipment and Accessories of LESSEE
10.28 Installation and Use of Signs
10.28.01 Prior Authorization
10.28.02 Fees
10.29 Merchandise placed in the Installations and Common Areas
10.30 Installations and Common Areas
10.30.01 Right to use
10.30.02 Control
10.30.03 Access Limitation
10.31 Parking Areas
10.31.01 Interdiction
10.31.02 Removal
10.31.03 Modification
10.31.04 Non responsibility of LESSOR
10.31.05 Right to rent
10.31.06 Control
11.00 SPECIAL PROVISIONS
11.01 Assignment of the Lease
11.01.01 Required Consent
11.01.02 Notice of Transfer
11.01.03 Serious Motive
11.01.04 Non Responsibility of LESSOR
11.01.05 Formalities
11.01.06 Rent
11.01.07 Effect
11.01.08 Bankruptcy of the Assignee
11.02 Hypothec and Transfer by LESSOR
11.02.01 Sale or Financing
11.02.02 Subordination
11.02.03 LESSEE'S Declaration
11.02.04 Execution of Deeds or Certificates
11.02.05 Assignment by LESSOR
11.03 Registration
11.04 Force Majeure
11.04.01 No Default
11.04.02 Duty
11.04.03 Rights of Other PARTY
11.05 Personal Information
11.05.01 LESSOR’s Rights
11.05.02 Obtention
11.05.03 Communication
11.05.04 Recognizance
11.05.05 Conservation
11.05.06 Consultation
11.06 Further Assurances
11.07 Other Remedies
11.07.01 Choices
11.07.02 No Limitations
11.08 Prescription
12.00 GENERAL PROVISIONS
12.01 Notice
12.02 Dispute Resolution
12.02.01 Good Faith Negotiations
12.02.02 Mediation
12.02.03 Arbitration
12.03 Election
12.04 Counterparts
12.05 Amendment
12.06 Waiver of Rights
12.07 Electronic Transmission
12.08 Language
13.00 TERMINATION
13.01 Termination
13.01.01 Immediate
13.01.02 On THIRTY (30) Days Notice
13.02 Expropriation
13.02.01 Total
13.02.02 Partial
13.02.03 Indemnity
13.02.04 Rent Payment
13.03 Damage or Destruction of the Leased Premises
13.03.01 Partial Destruction
13.03.02 Substantial Destruction
13.03.03 Reduction of the Rent
13.03.04 Reconstruction
14.00 EFFECTIVE DATE
15.00 DURATION
15.01 Initial Term
15.02 Early Occupancy
15.03 Option for Renewal
15.04 Extended Occupancy
15.05 Delayed Occupancy
16.00 SCOPE
SCHEDULE 0.01.17 – DESCRIPTION OF THE LEASED PREMISES
SCHEDULE 0.01.29– SHOPPING CENTRE PLAN
SCHEDULE 4.01 - MOVABLE HYPOTHEC WITHOUT DELIVERY
SCHEDULE 4.02 – SURETYSHIP
SCHEDULE 9.03 – LIST OF LESSOR’S COMPLEMENTARY CONSTRUCTIONS
SCHEDULE 10.12.07 – LIST OF LESSEE’S COMPLEMENTARY CONSTRUCTIONS
SCHEDULE 10.22 – INTERNAL BY-LAWS
SCHEDULE 11.02.03 - DECLARATION BY LESSEE
SCHEDULE 11.03 – REGISTRATION
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