The Lease Deferral agreement is a critical document used in Australian commercial leasing contexts when a tenant requires temporary relief from their regular rental payment obligations. This document becomes particularly relevant during periods of financial hardship, economic downturns, or extraordinary circumstances such as the COVID-19 pandemic. The agreement maintains the fundamental landlord-tenant relationship while modifying payment terms to provide temporary relief. It includes specific details about the original lease, the amount of rent being deferred, the deferral period, and a structured repayment plan. The document ensures compliance with Australian federal and state legislation, including relevant property laws and commercial leasing regulations. It serves as a formal amendment to the existing lease while preserving all other lease terms and conditions.
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1. Parties: Identification of the landlord and tenant, including their legal names, addresses, and ACN/ABN if applicable
2. Background: Context of the agreement, including reference to the original lease and circumstances leading to the deferral request
3. Definitions: Definitions of key terms used in the agreement, including 'Deferred Rent', 'Deferral Period', and 'Payment Plan'
4. Original Lease: Confirmation and acknowledgment of the existing lease details and its continued validity
5. Deferral Terms: Specific details of the rent deferral, including amount deferred and deferral period
6. Payment Plan: Details of how and when the deferred rent will be repaid, including payment schedule and installment amounts
7. Conditions Precedent: Any conditions that must be met before the deferral arrangement takes effect
8. Tenant's Obligations: Ongoing obligations of the tenant during the deferral period
9. Default Provisions: Consequences of failing to comply with the deferral agreement terms
10. General Provisions: Standard contract clauses including governing law, entire agreement, and variation provisions
1. Additional Security: Required when additional security is being provided for the deferred amount
2. Personal Guarantee: Used when a personal guarantee is required from company directors or other parties
3. Financial Reporting: Include when regular financial reporting requirements are imposed on the tenant
4. Early Repayment: Terms for early repayment of deferred rent, if permitted
5. Government Assistance: Reference to any government support schemes or mandatory codes being relied upon
6. Dispute Resolution: Detailed dispute resolution procedures beyond standard provisions
7. Force Majeure: Specific provisions relating to future force majeure events
1. Schedule 1 - Original Lease Details: Copy or summary of key details from the original lease agreement
2. Schedule 2 - Deferred Amount Calculation: Detailed calculation of the deferred rent amount
3. Schedule 3 - Repayment Schedule: Detailed payment plan showing dates and amounts for repayment
4. Schedule 4 - Financial Information: Current financial information provided by tenant to support deferral request
5. Appendix A - Notice of Deferral: Form of notice confirming the deferral arrangement
6. Appendix B - Variation of Lease: Formal variation of lease document if required
Relevant legal definitions
Agreement
Business Day
Commencement Date
Deferred Amount
Deferred Rent
Deferral Period
Default Event
Due Date
Existing Lease
End Date
Force Majeure Event
Government Authority
GST
Initial Payment
Installment
Landlord
Lease
Notice
Original Rent
Outgoings
Payment Plan
Payment Schedule
Permitted Use
Premises
Related Entity
Repayment Date
Repayment Schedule
Security
Tenant
Term
Working Day
Business Day
Commencement Date
Deferred Amount
Deferred Rent
Deferral Period
Default Event
Due Date
Existing Lease
End Date
Force Majeure Event
Government Authority
GST
Initial Payment
Installment
Landlord
Lease
Notice
Original Rent
Outgoings
Payment Plan
Payment Schedule
Permitted Use
Premises
Related Entity
Repayment Date
Repayment Schedule
Security
Tenant
Term
Working Day
Clauses
Recitals
Interpretation
Definitions
Deferral Grant
Payment Terms
Conditions Precedent
Representations and Warranties
Security
Default
Force Majeure
Notices
Confidentiality
Assignment
Variation
Waiver
Severability
Entire Agreement
Governing Law
Dispute Resolution
GST
Costs
Further Assurance
Counterparts
Time of Essence
Financial Reporting
Compliance with Laws
Original Lease Validity
Termination
Interpretation
Definitions
Deferral Grant
Payment Terms
Conditions Precedent
Representations and Warranties
Security
Default
Force Majeure
Notices
Confidentiality
Assignment
Variation
Waiver
Severability
Entire Agreement
Governing Law
Dispute Resolution
GST
Costs
Further Assurance
Counterparts
Time of Essence
Financial Reporting
Compliance with Laws
Original Lease Validity
Termination
Relevant Industries
Commercial Real Estate
Retail
Industrial
Office Space
Shopping Centers
Hospitality
Healthcare
Manufacturing
Warehousing
Professional Services
Relevant Teams
Legal
Real Estate
Finance
Operations
Risk and Compliance
Property Management
Asset Management
Commercial
Treasury
Facilities Management
Relevant Roles
Property Manager
Real Estate Manager
Legal Counsel
Commercial Lawyer
Lease Administrator
Financial Controller
Chief Financial Officer
Asset Manager
Facilities Manager
Business Owner
Commercial Director
Operations Manager
Risk Manager
Compliance Officer
Property Portfolio Manager
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