Nova Scotia Commercial Net Lease Agreement

This Nova Scotia Commercial Net Lease Agreement is a comprehensive legal template that makes it easy to write all your leases in a standardized format.

This document is provided in a downloadable MS Word format and can be fully customized to suit individual requirements.

Net Lease Terms

Under the terms of this Lease, the arrangement is “net” to the landlord. The tenant assumes responsibility for paying all taxes, charges, and assessments that may be levied against the premises.

Indemnification

The lease requires the tenant to indemnify the landlord against any loss or damage that may occur in connection with the premises.

Insurance Requirements

Tenants are obligated to obtain and maintain insurance coverage as specified by the landlord, ensuring adequate protection throughout the lease term.

Acceleration of Rent

Should the tenant undergo bankruptcy, liquidation, or receivership, the agreement includes provisions for the acceleration of rent, requiring immediate payment of outstanding amounts.

Removal of Fixtures and Chattels

At the conclusion of the lease term, tenants retain the right to remove their fixtures and chattels from the premises.

Tenant’s Continuing Liability

If the lease is transferred or assigned, or if the premises are sublet, the tenant remains liable for all obligations under the lease agreement.

Renewal and Holdover Options

Tenants are given the option to renew the lease for an additional term. Should the lease not be renewed and the tenant continues to occupy the premises beyond the original term, the agreement stipulates that the tenancy will convert to a month-to-month arrangement.

Jurisdiction

The template is intended for use only in the Province of Nova Scotia, Canada.