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Company Let Agreement Template for Ireland

A Company Let Agreement is a formal commercial lease agreement used in Ireland for letting commercial properties between companies. This document is governed by Irish law and incorporates essential provisions required under the Landlord and Tenant (Amendment) Act 1980 and related legislation. It establishes the terms and conditions for the commercial tenancy, including rent payments, maintenance responsibilities, service charges, insurance requirements, and other obligations of both the landlord and tenant companies. The agreement provides legal protection for both parties and ensures compliance with Irish commercial property regulations.

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What is a Company Let Agreement?

The Company Let Agreement is a specialized commercial lease document used in Ireland when one company (the landlord) lets commercial premises to another company (the tenant). This agreement is essential for businesses seeking to establish or expand their physical presence in Ireland through leasing commercial space. The document incorporates requirements under Irish property law, particularly the Landlord and Tenant (Amendment) Act 1980, and addresses key aspects such as rent, service charges, maintenance obligations, and permitted use of the premises. It's particularly important for ensuring both parties understand their rights and obligations under Irish law, and includes specific provisions for commercial property relationships that differ from residential tenancies.

What sections should be included in a Company Let Agreement?

1. Parties: Identification of the Landlord and Tenant companies, including registered office addresses and company registration numbers

2. Background: Context of the agreement and brief description of the premises and intended use

3. Definitions: Definitions of key terms used throughout the agreement

4. Demise: Formal grant of the lease, including precise description of the premises and any excluded/included areas

5. Term: Duration of the lease, including commencement date and expiry date

6. Rent: Details of rent amount, payment terms, and payment methods

7. Rent Review: Provisions for periodic rent reviews including methodology and timing

8. Service Charge: Details of service charge calculations, payments, and included services

9. Insurance: Insurance obligations of both parties and payment of premiums

10. Repairs and Maintenance: Responsibilities for repairs and maintenance of the premises

11. Tenant Covenants: Standard obligations and restrictions on the tenant

12. Landlord Covenants: Standard obligations of the landlord

13. Assignment and Subletting: Conditions under which the tenant may assign or sublet the premises

14. Termination: Circumstances allowing early termination and break clause provisions

15. Forfeiture: Landlord's right to forfeit the lease and re-enter the premises

16. Notices: Process for serving formal notices under the lease

17. Governing Law: Confirmation that Irish law governs the agreement

What sections are optional to include in a Company Let Agreement?

1. Guarantor Provisions: Required when there is a company guarantor for the tenant's obligations

2. Break Clause: Optional provision allowing either party to terminate the lease early under specified conditions

3. Fit-Out Works: Include when the tenant will be carrying out initial fit-out works to the premises

4. Change of Control: Provisions dealing with changes in company ownership or control

5. Service Level Agreement: Required when specific service levels are agreed for building services

6. Green Lease Provisions: Environmental and sustainability obligations, if relevant

7. Covid-19 Provisions: Specific provisions dealing with pandemic-related issues and force majeure

8. Car Parking: Required when car parking spaces are included in the lease

What schedules should be included in a Company Let Agreement?

1. Schedule 1 - Premises Plan: Detailed plans showing the leased premises and common areas

2. Schedule 2 - Rights Granted: Specific rights granted to the tenant (e.g., access, utilities)

3. Schedule 3 - Rights Reserved: Rights reserved by the landlord

4. Schedule 4 - Service Charge Schedule: Detailed breakdown of service charge items and calculations

5. Schedule 5 - Condition Schedule: Schedule recording the condition of the premises at lease commencement

6. Schedule 6 - Permitted Use: Detailed description of permitted business activities

7. Schedule 7 - Rent Review Provisions: Detailed rent review methodology and procedures

8. Appendix A - Fitting Out Guide: Landlord's requirements for tenant fit-out works

9. Appendix B - Building Rules: Rules and regulations for use of the building

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Ireland

Publisher

Genie AI

Document Type

Rental Agreement

Cost

Free to use

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