Repayment Agreement (Commercial/Retail) - AUVICRECM028

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BLACK = Old Item/Clause  | RED = New Item/Clause | BLUE = Comments About Change (Not Part of Form) | STRIKEOUT = Wording Deleted

 

15 Jan 2022 v1.5

Additions / Changes:


SIGNING

(1)

The Parties agree this Repayment Agreement allows the Lessee to repay to the Lessor the unpaid monies, detailed in the Repayment Schedule, owing to the Lessor under the Lease and unpaid by the Lessee. The Repayments must be in accordance with any relevant legislation (including the Commercial Tenancy Relief Scheme Regulations 2021 (Vic)) and, where applicable, take into account a reasonable trading recovery period.

 

27 Aug 2021 v1.4

Additions / Changes:


ADDITIONAL TERMS

ADDITIONAL TERMS   (if insufficient space, attach schedule)

 

 


SIGNING

(1)

The Parties agree this Repayment Agreement allows the Lessee to repay to the Lessor the unpaid monies, detailed in the Repayment Schedule, owing to the Lessor under the Lease and unpaid by the Lessee. The Repayments must be in accordance with any relevant legislation (including the Commercial Tenancy Relief Scheme Regulations 2021 (Vic)) and, where applicable, take into account a reasonable trading recovery period.

 

28 Mar 2021 v1.3

Additions / Changes:

 

SIGNING

By signing below:

(1)

The Parties agree this Repayment Agreement allows the Lessee to repay to the Lessor the unpaid monies, detailed in the Repayment Schedule, owing to the Lessor under the Lease and unpaid by the Lessee. The Repayments must be in accordance with any National Cabinet Code of Conduct for Leasing or other relevant legislation and, where applicable, take into account a reasonable trading recovery period.

(2)

The Lessee agrees:


(a)

to pay the unpaid monies in full as set out above in the Repayment Schedule.


(b)

payments made in accordance with the Repayment Schedule are in addition to normal rental payments due and payable under the Lease.


(c)

failure to pay the unpaid monies, as set out above in the Repayment Schedule, will be a breach of the Lease.

(3)

The Lessor agrees to take no action, including the serving of a termination notice, against the Lessee in respect of the unpaid monies owing under the Lease, as detailed in the above Repayment Schedule, as long as the Lessee complies with this Agreement.

(4)

The Parties agree that breach of this Agreement will be a breach of the Lease while the Lease is still in effect.

Note: Where this Agreement relates to COVID-19 hardship experienced by the Lessee, the Repayment Term should be the greater of:

(a)

the balance of the term of the eligible lease, including any extension to that term; and

(b)

a period of no less than 24 months.

 

21 Oct 2020 v1.2

Additions / Changes:

 

SIGNING

(1)

The Parties agree this Repayment Agreement allows the Lessee to repay to the Lessor the unpaid monies, detailed in the Repayment Schedule, owing to the Lessor under the Lease and unpaid by the Lessee. The Commencement Date of the rRepayments must be in accordance with any National Cabinet Code of Conduct for Leasing or other relevant legislation and, where applicable, take into account a reasonable trading recovery period.

(2)

The Lessee agrees:


(a)

to pay the unpaid monies in full as set out above in the Repayment Schedule.


(b)

payments made in accordance with the Repayment Schedule are in addition to normal rental payments due and payable under the Lease.


(c)

failure to pay the unpaid monies, as set out above in the Repayment Schedule, will be a breach of the Lease.

(3)

The Lessor agrees to take no action, including the serving of a termination notice, against the Lessee in respect of the unpaid monies owing under the Lease, as detailed in the above Repayment Schedule, non-payment of monies owing under this Agreement, including the serving of a termination notice, as long as the Lessee complies with this Agreement.

(4)

The Parties agree that breach of this Agreement will be a breach of the Lease while the Lease is still in effect.

Note: Where this Agreement relates to COVID-19 hardship experienced by the Lessee, the Repayment Term should be the greater of:

(a)

the balance of the term of the eligible lease, including any extension to that term; and

(b)

a period of no less than 24 months.

 

18 Jun 2020 v1.1

Additions / Changes:


SIGNING

(1)

The Parties agree this Repayment Agreement allows the Lessee to repay to the Lessor monies owing to the Lessor under the Lease and unpaid by the Lessee. The Commencement Date of the repayments must be in accordance with any National Cabinet Code of Conduct for Leasing and, where applicable, take into account a reasonable trading recovery period.