LEASE RENEWAL AGREEMENT

This Lease Renewal Agreement (hereinafter referred to as the “Agreement”) is made on [INSERT DATE ON WHICH THE AGREEMENT COMES INTO FORCE] (hereinafter referred to as the “Effective Date”) between:

[INSERT NAME OF THE LESSOR], having registered office at [INSERT ADDRESS OF THE LESSOR ] (hereinafter referred to as the “Lessor” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns); and 

[INSERT NAME OF THE LESSEE], having registered office at [INSERT ADDRESS OF THE LESSEE] OR (hereinafter referred to as the “Lessee” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns).

The “Lessor” and the “Lessee” together shall be referred to as “Parties” and individually as a “Party”.

WHEREAS

1. The Parties entered into a Lease Agreement (hereinafter referred to as “Original Lease”) dated [INSERT DATE OF THE ORIGINAL LEASE AGREEMENT] for the property located at [INSERT LOCATION OF THE PROPERTY].
2. The term of the Original lease agreement is set to expire on [INSERT END DATE ORIGINAL LEASE AGREEMENT]. The Parties hereby wish to extend or renew the original lease agreement in accordance with the terms and conditions set forth in this Lease Renewal Agreement.
3. The Parties mutually agree to the terms and conditions outlined in this Agreement, which governs the working relationship between the parties.
4. The parties are duly authorized and have the capacity to enter into this agreement.
5. Both the parties affirm to understand the provisions contained herein and in case either party requires clarification as to one or more provisions, either party has had the right to seek clarifications or sought legal guidance.

NOW, THEREFORE, in consideration of the mutual promises contained herein and intending to, be legally bound, the Parties have agreed as follows:

1. PREMISES
   1. The Lessor hereby agreed to lease the following property to the lessee as mentioned in the original lease Agreement. The description of the property is. [INSERT DESCRIPTION OF THE PROPERTY.]
2. LEASE RENEWAL
   1. The term of the original lease is hereby extended or renewed for a period of [INSERT RENEWAL TERM ], commencing on [INSERT START DATE] and ending on [INSERT END DATE] (Hereinafter referred to as “Renewal Term”).
3. RENTAL PAYMENT
   1. The Lessee agrees to pay the Lessor a maximum total of [INSERT RENTAL AMOUNT] on a monthly basis. Rental payments shall be made on every first week of the month. All payments under this agreement shall be made in [INSERT FIAT CURRENCY] via [INSERT MODE OF PAYMENT].
   2. The existing security deposit of [INSERT SECURITY DEPOSIT AMOUNT] shall continue to be held by the lessor in accordance with the terms of the original lease. No additional security is required for the renewal term.
4. TERMS AND CONDITIONS
   1. All terms, conditions, and provisions of the Original Lease shall remain in full force and effect during the renewal term, except as expressly modified by this agreement.
   2. Except as otherwise provided herein this Agreement shall not be amended or otherwise modified unless the modification or amendment is done in writing, signed and has been mutually agreed by both the parties.
   3. The language of all communications between the parties pursuant to this Agreement, including notices and reports, will be the English.
   4. The headings upon the various sections are solely for convenience and reference only and shall not affect the scope, meaning, intent or interpretation of the provisions of this Agreement, nor shall such headings otherwise be given any legal effect.
5. APPLICABLE LAW
   1. This Agreement shall be governed by and constructed in accordance with the Laws, rules, orders and regulations of [INSERT THE COUNTRY/STATE OF APPLICABLE LAWS]
   2. The Parties shall resolve all disputes in connection with the validity or interpretation of this Agreement, unless otherwise expressly stated in the Agreement, in the following manner: 
      1. By direct negotiations between the Lessor and Lessee. 
      2. If negotiations between the parties are unsuccessful, the matter shall be referred to the competent court sitting at [INSERT THE PLACE OF COURT WHICH SHALL HAVE EXCLUSIVE JURISDICTION IF THE NEGOTIATIONS ARE UNSUCCESSFUL BETWEEN THE PARTIES] which shall have exclusive jurisdiction in all matters arising there from unless otherwise agreed between the Parties in writing.
6. DECLARATION
   1. The parties hereby understand and expressly agree to the provisions laid down in the present agreement and in good faith, undertake that both parties shall follow the terms of this agreement in good conscience in order to secure better growth of both the Parties.

IN WITNESS WHEREOF, the parties, intending to be legally bound, have each executed this agreement as of the effective date.

Signed, sealed and delivered on behalf of Lessor

Name: [INSERT NAME OF THE LESSOR/SIGNING AUTHORITY AND DESIGNATION]

Signature:

Date: [INSERT SIGNING DATE OF LESSOR]

Signed, sealed and delivered on behalf of Lessee

Name: [INSERT NAME OF THE LESSEE/SIGNING AUTHORITY AND DESIGNATION]

Signature: 

Date: [INSERT SIGNING DATE OF LESSEE]