A commercial lease agreement involves the lease of a property for business purposes such as a store or office. Commercial leases are typically made for a fixed term. In most cases, at the end of the lease term, the landlord and tenant will either enter a new lease or the tenant will vacate the premises. Under certain circumstances the parties may wish to extend the lease past the expiration date but not enter into an entirely new lease. In this case, the landlord and tenant should enter into a Lease Extension Agreement.

A Commercial Lease Extension Agreement allows the parties to incorporate the controlling provisions of the original lease. This agreement will set forth the extension terms in writing and avoid any problems and misunderstandings between the parties surrounding the lease extension.

Among others, this form includes the following provisions:

• Extension of the Initial Lease Term
• Revised Rental Payments
• Obligations Under the Lease
• General Provisions

This lawyer-prepared packet includes:

1. Instructions and Checklist
2. General Information
3. Commercial Lease Extension Agreement for use in Canada

Law Compliance: This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon