Commercial Lease Amendment Agreement - Template Form

COMMERCIAL LEASE AMENDMENT AGREEMENT

THIS LEASE AMENDMENT AGREEMENT (the "Amendment") is made and entered into and is effective as of ________ (the "Effective Date").

BETWEEN:

________, a corporation incorporated under the laws of ________, having its registered office at ________ (the "Landlord");

- and -

________, a corporation incorporated under the laws of ________, having its registered office at ________ (the "Tenant").

The Landlord and the Tenant are each individually referred to herein as a "Party" and collectively as the "Parties".

RECITALS

WHEREAS the Landlord is the owner of certain commercial premises (the "Premises") municipally described as:

________;

AND WHEREAS the Landlord and the Tenant entered into a lease agreement dated ________ (together with all prior amendments thereto, the "Lease") in respect of the Premises;

AND WHEREAS the Parties wish to amend the terms of the Lease upon the terms and conditions set out in this Amendment;

NOW THEREFORE in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each Party, the Parties covenant and agree as follows:

Article 1 – DEFINITIONS AND INTERPRETATION

1.1. Capitalized terms used but not otherwise defined in this Amendment have the respective meanings given to them in the Lease.

1.2. In the event of any conflict or inconsistency between the provisions of this Amendment and the provisions of the Lease, the provisions of this Amendment shall govern and prevail to the extent of such conflict or inconsistency.

1.3. The recitals set out above are true and correct and are incorporated into and form part of this Amendment.

1.4. The division of this Amendment into Articles and sections and the insertion of headings are for convenience of reference only and shall not affect the construction or interpretation hereof. Words importing the singular include the plural and vice versa, and words importing gender include all genders.

Article 2 – AMENDMENT

The Parties hereby agree that, effective as of the Effective Date, the Lease is amended as follows:

2.1. Section ________ of the Lease is hereby amended as follows:

________

2.2. Any additional amendments to the Lease agreed between the Parties are as follows:

________

Article 3 – RATIFICATION AND CONTINUING EFFECT

3.1. Except as expressly amended by this Amendment, all of the terms, covenants and conditions of the Lease remain unchanged and continue in full force and effect, and are hereby ratified and confirmed by the Parties.

3.2. The amendments set out in Article 2 constitute the only amendments to the Lease effected by this Amendment, and nothing herein shall be construed as a novation, surrender, release or termination of the Lease.

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Article 4 – COUNTERPARTS AND ELECTRONIC EXECUTION

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Article 5 – GENERAL PROVISIONS

5.1. Enurement: This Amendment shall enure to the benefit of and be binding upon the Parties and their respective successors and permitted assigns.

5.2. Severability: If any provision or part of any provision of this Amendment is found by a court of competent jurisdiction to be invalid, illegal or unenforceable, such provision or part thereof shall be severed and the remaining provisions and parts shall continue in full force and effect to the maximum extent permitted by law.

5.3. Further Assurances: Each Party shall, from time to time and at the reasonable request of the other Party, execute and deliver all such further documents and instruments and do all such acts as may be reasonably necessary to give full effect to this Amendment.

5.4. Time of the Essence: Time shall be of the essence of this Amendment.

5.5. Governing Law: This Amendment shall be governed by, interpreted and enforced in accordance with the laws of the Province of ________ and the federal laws of Canada applicable therein. The Parties irrevocably attorn to the exclusive jurisdiction of the courts of the Province of ________.

5.6. Entire Agreement: This Amendment, together with the Lease, constitutes the entire agreement between the Parties with respect to the subject matter hereof, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to such subject matter.

IN WITNESS WHEREOF

The Parties have executed this Amendment as of the Effective Date.

LANDLORD

________

Per: ________________________________
Name: ________
Title: ________
Date: ________
I have authority to bind the corporation

TENANT

________

Per: ________________________________
Name: ________
Title: ________
Date: ________
I have authority to bind the corporation