The Sale Leaseback Agreement is a strategic financial tool used when a property owner wishes to unlock capital tied up in real estate while maintaining operational control of the property. This document is particularly relevant in New Zealand's commercial property market, where businesses seek to optimize their capital structure while ensuring business continuity. The agreement must comply with New Zealand property law, including the Property Law Act 2007, Land Transfer Act 2017, and relevant tax legislation. It typically includes detailed provisions for both the sale transaction and the subsequent lease arrangement, including purchase price, settlement procedures, lease terms, maintenance obligations, and options for lease renewal or property repurchase. This type of agreement is commonly used by businesses looking to free up capital for core business operations, expansion, or debt reduction while maintaining control over their operational premises.
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1. Parties: Identifies and defines the seller-lessee and buyer-lessor
2. Background: Explains the context and purpose of the sale-leaseback arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Sale and Purchase: Details the terms of the property sale, including purchase price and payment terms
5. Property Description: Detailed description of the property being sold and leased back
6. Settlement and Transfer: Specifies the settlement date and transfer procedures
7. Lease Terms: Core terms of the leaseback arrangement including duration, rent, and payment terms
8. Maintenance and Repairs: Responsibilities for property maintenance and repairs
9. Insurance: Insurance requirements for both parties
10. Default and Remedies: Consequences of default by either party and available remedies
11. Assignment and Subletting: Rights and restrictions regarding assignment and subletting
12. Termination: Circumstances and procedures for termination
13. General Provisions: Standard contractual provisions including notices, governing law, and dispute resolution
1. GST Provisions: Required when either party is GST-registered and the transaction is subject to GST
2. Tenant Improvements: Include when the seller-lessee has rights to make improvements to the property
3. Purchase Option: Include if the seller-lessee has an option to repurchase the property
4. Environmental Matters: Required for properties with potential environmental concerns or compliance requirements
5. Property Management: Include when specific property management arrangements are needed
6. Multiple Properties: Required when the sale-leaseback involves multiple properties
7. Guarantees: Include when there are parent company or personal guarantees
1. Property Schedule: Detailed legal description of the property, including title details and encumbrances
2. Lease Terms Schedule: Detailed lease terms including rent calculations, review periods, and operating expenses
3. Condition Report: Detailed report on the condition of the property at the time of sale
4. Payment Schedule: Detailed breakdown of payment terms for both sale and lease components
5. Permitted Use: Specific details of how the property may be used under the lease
6. Maintenance Schedule: Detailed breakdown of maintenance responsibilities
7. Required Insurance: Specific insurance requirements and minimum coverage amounts
Relevant legal definitions
Clauses
Relevant Industries
Commercial Real Estate
Industrial
Retail
Healthcare
Education
Manufacturing
Logistics
Hospitality
Agriculture
Office Space
Warehousing
Relevant Teams
Legal
Finance
Real Estate
Property Management
Operations
Treasury
Risk Management
Facilities Management
Corporate Development
Investment
Relevant Roles
Chief Financial Officer
Property Manager
Real Estate Director
Legal Counsel
Commercial Property Lawyer
Finance Director
Asset Manager
Facilities Manager
Investment Manager
Treasury Manager
Real Estate Investment Manager
Corporate Real Estate Manager
Risk Manager
Operations Director
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