THIS COMMERCIAL LEASE is entered into on 24 November 2024

Between

(1)            PARTY_1_NAME whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (the "Lessor")

(2)            PARTY_2_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the "Lessee")

Whereas

The Lessor shall let and the Lessee shall take the Premises for the Term of Lease (as defined below) with details as more particularly described in the Schedule and both parties agree to observe and perform the terms and conditions as follows: 

1. Lease 

The Lessor hereby agrees to lease ADDRESS (the “Premises”) and the fixtures, fittings and equipment therein (as per Schedule, if any) in clean and tenantable condition to the Lessee for commercial purpose. The total area is AREA.

2. Term of Lease

2.1 The above Premises is hereby leased for a term of TERM years, commencing on COMMENCEMENT_DATE and expiring on END_DATE.

2.2 On expiry of this lease, the Lessor has the right to take back the Premises in full, and the Lessee must deliver vacant possession of the Premises on the date of expiry. If the Lessee wishes to extend the lease, The Lessee shall have the priority to renew the lease and is required to give written notice to the Lessor two months prior to the expiry of this lease, the revised rental should be negotiated between the two parties. The Lessor has the right to lease to a third party if they cannot agree on rental or other terms one month prior to expiry.

2.3 Provided the Lessee shall have paid the Rent and other outgoings on the days and in the manner herein provided and observe and perform the terms and conditions herein contained and on the Lessee's part to be observed and performed, the Lessee shall peacefully hold and enjoy the Premises during the Term of Lease without any interruption by the Lessor.

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