This contract is an arrangement between a group of like minded persons who have come together to share an office space with primary motive to save costs and make the best utilisation of available capacity.Always remember to seal the key clauses and document them that will serve as a guidance for future reference, specially in case of disputes.Use our easy to navigate interview questionnaire and you are just minutes away from printing the final document ready for execution.
This helps to cut operating costs and is viable for startups and small enterprises who can run their enterprises with shared facilities. The rent and other maintenance expenditure are shared between the members of this agreement. The tenants sign the office sharing agreement and inform the landowner about the same. The members can designate one member as a master tenant( master lessor) authorising himher to be the forward representative. In an office sharing scenario, subletting can be a strict no no.You can arrange for frequent meetings with the members and discuss contentious issue that affects you. It is neither a Law Firm nor a Chartered Accountancy or Company Secretary Firm. The services provided by LegalDesk.com can in no event be construed to be or taken be a substitute or alternative for Legal Advice. In consideration of the obligation of the tenant to pay rent and other terms, covenants and conditions, the landlord, at this moment, demises and leases to the tenant the premises to hold for the lease term specified in the contract, all upon the terms and conditions outlined in this lease. If you doubt about any information in this file, you can consult an attorney. ![]() BASIC PROVISIONS 1. The following basic provisions shall be construed in conjunc tion with, and limited by, reference thereto in other provisions of this Lease: a. ![]() Office Space Sharing Agreement Template Full Or PartialAny rent payment not received by Landlord within ten (10) days after its due date shall be subject to a delinquenc y charge of five percent (5) of the amount due each full or partial calendar month the rent remains unpaid. Failure by Tenant to pay the late charge w ithin ten (10) days after receipt of notice from Landlord that it is due shall, in addition to any other default, constitute a default of this Lease by T enant. POSSESSION 3. Landlord shall use due diligence to deliver possession of the Prem ises to Tenant as nearly as possible at the beginning of t he term of this Lease. Office Space Sharing Agreement Template Plus The NumberThe Expiration Date shall be extended for a peri od equal to the delay in delivery of posse ssion, plus the number of days necessary to end the term on the last day of a month. Landlord and Tenant sha ll execute an amendment to this Leas e setting forth revised Commencement and Expiration Dates. In the event Landlord is unable to deliver possession within six (6) months after the Commencement Date, the Lease shall be null and void an d Tenants pre-paid rental and the Security Deposit shall be promptly returned to Te nant. If permission is given to Tenant to enter into possession of the Premises prior to the Commencement Date, Tenant agrees at date of occupancy to be responsible for payment of Base Rent in advance at the rate of 130 th of the Base Monthly Rent for each day of occupancy prior to the Commencement Date. Landlord shall deliver possession of the Premises when the Prem ises have been substantially co mpleted in compliance with the Plans and Specifications attached as Exhibit. Substantial completion shall mean com pletion in accordance with the Plans and Specifications and with applicable rules, regula tions and requirements of Governmental authorities. Substantial comple tion shall occur upon the giving of notice by Landlord accompanied by a certificate from Landlords architect. Substantial completion shall have occurre d without the completion of minor punch list type items, whic h are minor items of work or adjustments of equipment and fixtures that can be completed after occupancy. Prior to occ upancy, Tenant shall give written notice to the Landlord of any items which, upon visual inspection, are readily apparent or cosmetic and are not satisfactorily completed (the punch list items). Within thirty (30) days of receipt of the punch list items, Landlord shall comple te or correct all punch list items, or shall address in writi ng any punch list item which the Landlord, in Landlords sole opinion, d eems to be inconsistent with the standard building industry practices. If Tenant do es not notify Landlord of any punch list items before the date Tenant takes occupancy, it will be conclusively pres umed the readily apparent or cosmetic it ems included in the tenant finish work have been satisfactorily completed and fully accepted by Tenant. In the event Tenants plans specify any improvements that are not contained in Exhibit which precludes Landlord fro m completing the Premises for Tenants occupancy by the Comme ncement Date, or in the event any work to be performed by Tenant or Tenants contra ctors delays Tenants occupancy by the Commencement Date hereof, Tenant sha ll remain liable for the payment of rent from the Commencement Da te.
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