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The Business Sublet Lease Agreement is essential for commercial tenants in Hong Kong who wish to sublease their rented premises to other businesses. This document is particularly relevant in Hong Kong's dynamic commercial real estate market, where business needs and space requirements frequently change. The agreement must comply with Hong Kong's property laws and regulations, particularly the Landlord and Tenant (Consolidation) Ordinance, while ensuring alignment with the original head lease terms. It covers crucial aspects such as premises details, rent, duration, permitted use, maintenance responsibilities, and various other commercial terms. This type of agreement is commonly used when businesses need to optimize their space usage, reduce rental costs, or adapt to changing business circumstances while maintaining their original lease obligations.

1. Parties: Identification of the head tenant (as sublandlord) and subtenant, including business registration details

2. Background: Context of the sublease, including reference to the head lease and confirmation of authority to sublet

3. Definitions: Key terms used throughout the agreement, including specific Hong Kong legal and commercial property terms

4. Demise: Specific details of the premises being sublet, including any shared areas or facilities

5. Term: Duration of the sublease, including commencement and expiry dates (must not exceed head lease term)

6. Rent and Payment Terms: Rent amount, payment schedule, and method of payment, including any rent-free periods

7. Other Payments: Management fees, government rates, utilities, and other charges payable by the subtenant

8. Deposit and Advanced Payments: Security deposit amount, holding deposit terms, and any advance rent requirements

9. Permitted Use: Specified business purposes and any restrictions on use of the premises

10. Subtenant's Covenants: Obligations of the subtenant, including compliance with head lease terms

11. Sublandlord's Covenants: Obligations of the sublandlord, including maintaining the head lease

12. Repairs and Maintenance: Responsibilities for maintaining and repairing different parts of the premises

13. Insurance: Required insurance coverage and obligations of each party

14. Assignment and Further Subletting: Restrictions on further assignment or subletting of the premises

15. Default and Termination: Events of default, termination rights, and consequences of termination

16. Reinstatement: Requirements for returning the premises at the end of the sublease

17. Notices: Process and addresses for serving formal notices between parties

18. Governing Law: Confirmation of Hong Kong law governance and jurisdiction