Creation of Master Lease with Child Lease Details — Cloud Customer Connect
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Creation of Master Lease with Child Lease Details

Summary:

How to Create Master Lease with Child Lease Details:

Examples Lessee

leases office space from Lessor with original terms as follows:

Size of office space leased: 5,000m2

Lease term: 5 years from 1 January 2021 to 31 December 2025 with no extension or termination options Lease payments: CHF100,000 payable annually in arrears IBR: 5% p.a.

Lessee has a December year-end.

Amending the Lease on 1st Jan 2023 as follow

The original 5,000m2represents five floors of space of equal size.

Each floor constitutes a separate lease component.

Modification: Lessee and Lessor agree on 1 January 2023 to terminate the lease of one floor starting from 1 January 2024.

The annual lease payment remains at CHF100,000 for 2023 for all five floors and is proportionately reduced to CHF80,000 for 20x4 and 20x5 for the remaining four floors.

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