Canadian commercial landlords, lease a restaurant premises to a tenant with this Canada Restaurant Lease template.
- This is a triple net lease, and the tenant pays all taxes, charges and assessments on the premises, all operating costs, all utilities and services to the premises.
- Parking.The restaurant shares the common parking lot with other businesses in the mall or building.
- Indemnification. The tenant indemnifies the landlord against any claims arising from the tenant's use and occupation of the space.
- Use of Premises. The premises are to be used for the purposes of a restaurant only. This lease can be used for a dine-in or take-out and delivery restaurant. The tenant will have the exclusive right during the lease term to sell specific food items in the building / mall.
- Insurance. The tenant is required to carry comprehensive general liability insurance, all risk insurance, boiler and machinery insurance (if applicable), and business interruption insurance.
- Events of Default. If the tenant becomes bankrupt or insolvent, or if a receiver is appointed, the current month's rent and the next 3 months' rent will become immediately payable, and the landlord has the right to recover possession of the premises.
- Dispute Resolution. The parties agree to binding arbitration in the event of a dispute.
Don't pay big legal bills to have a lawyer draft up your documents every time you need a lease. Download your own copy of this Canada Restaurant Lease and do it yourself.
Last Updated: 14-April-2016