Standard Terms and Conditions between Love Mondays Office Space LTD and Business Centre / Property Owners / Property Managers / Landlords.

1.0 Interpretation

The following definitions and rules of interpretation apply in this Agreement.

1.1 Definitions:

Commission: has the meaning given to it in clause 0.

Prospective Client: a party with whom you enter discussions in relation to the Services.

Relevant Contract: a contract for the supply of Services entered between you or a member of your corporate group or employee of your company and a Prospective Client who was introduced to you by Love Mondays Office Space LTD.

Services: the workplace solutions, office and co-working services to be provided by you to a Prospective Client pursuant to a Relevant Contract.

Operator/Provider: means the person(s), firm or company providing the office space and associated services for the client.

2.0 Introductions

2.1 You agree to appoint LOVE MONDAYS OFFICE SPACE LTD on a non-exclusive basis to identify leads and make introductions to Prospective Clients, with the objective of you and the Prospective Client entering into a Relevant Contract, on the terms of this Agreement.

2.2 LOVE MONDAYS OFFICE SPACE LTD shall:

(a) use reasonable endeavours to list your property or properties on its website, subject to and in accordance with clause 2.3 below;

(b) use reasonable endeavours to make introductions of Prospective Clients to you; and 

(c) report to you from time to time on progress made with Prospective Clients.

2.3 You agree that:

(a) LOVE MONDAYS OFFICE SPACE LTD is authorised to list any details and images for any property or properties that you share with LOVE MONDAYS OFFICE SPACE on its website, without any further reference to or consent from you;

(b) LOVE MONDAYS OFFICE SPACE LTD shall be entitled to rely on the accuracy and completeness of all information provided to LOVE MONDAYS OFFICE SPACE LTD by you, your representatives or a third party acting on your behalf; and

(c) LOVE MONDAYS OFFICE SPACE LTD shall be in no way responsible or liable for any loss you may incur as a result of any inaccuracies, discrepancies or incompleteness of the information you provide to LOVE MONDAYS OFFICE SPACE LTD.

2.4 LOVE MONDAYS OFFICE SPACE LTD will introduce all clients via email to the email address provided by each business centre or provider, or one of their team. Once a lead is registered with a provider it will remain live in the system for a period of 6 months unless there is written communication to LOVE MONDAYS OFFICE SPACE LTD and it is accepted by a Director of LOVE MONDAYS OFFICE SPACE LTD.

2.5 After registering a lead with you, we will endeavour to arrange a viewing date and time for the client. Once a viewing has been completed commission as laid out in clause 3, will be due for any contracts agreed between the service provider and the client for a period of 6 months from the last completed viewing, even if the start date of the contract exceeds 6 months. This will apply to all buildings within the portfolio of the provider.

2.6 If contact details are provided, the provider may contact the client directly and arrange a viewing on behalf of LOVE MONDAYS OFFICE SPACE LTD on the basis that the LOVE MONDAYS OFFICE SPACE LTD representative that introduced the client is Cc’d into all communication and upon completion of the subsequence viewing, commission will be due as laid out in clause 3.

2.7 An overturn policy applies to all leads which are sent in where a viewing has not been completed. Whether direct, via LOVE MONDAYS OFFICE SPACE LTD or any other source the first completed viewing will qualify for commission. Once a viewing has been completed either via or on behalf of LOVE MONDAYS OFFICE SPACE LTD the overturn policy will no longer apply.

3.0 Commission and payment

3.1 LOVE MONDAYS OFFICE SPACE LTD shall be entitled to Commission if a Prospective Client introduced by LOVE MONDAYS OFFICE SPACE LTD enters into a Relevant Contract.

3.2 The amount of commission payable shall be:

(a) a minimum of 10% (or the amount laid out in line with any promotions or incentives you have running, whichever is greater) of the Relevant Contract value which constitutes the rental/licence/coworking membership fee payable by the Prospective Client for the first 12 months of occupation;

(b) a minimum of 10% (or the amount laid out in line with any promotions or incentives you have running, whichever is greater) of the Relevant Contract value which constitutes the rental/licence/coworking membership fee payable by the Prospective Client for the first 12 months of any expansions of such occupation. If the Prospective Client signs for a term less than 12 months, LOVE MONDAYS OFFICE SPACE LTD shall be entitled to receive 10% on any extension of the initial term up to 12 months;

(c) In the event a client or customer signs an agreement where the initial commitment exceeds 12 months and the customer is given rent free period during the first 12 months of their agreement term then this incentive is to be averaged out during the term of the agreement and you agree to cover our commission proportionally.

3.3 Where breaks are included in the Relevant Contract, the fee is paid up until the first break in tranche 1, and if the Prospective Client does not exercise the break, the second tranche is payable to LOVE MONDAYS OFFICE SPACE LTD and thereafter with any further breaks included.

3.4 The Commission payments in clauses 3.2(a) 3.2(b) and 3.3(c) shall also apply to the value of any incentives offered by you to the Prospective Client pursuant to the terms of the Relevant Contract.

3.5 You shall promptly notify LOVE MONDAYS OFFICE SPACE LTD in writing of the following:

(a) the date you enter into a Relevant Contract;

(b) the amount of the payments due for Services under it; and

(c) the dates on which payments for such Services are payable,

and in any event no later than 3 business days after you enter into such Relevant Contract.

3.6 Except where the procedures set out in clause 0 and clause 0 below have been followed, all Commission payable pursuant to clause 0 shall be due to LOVE MONDAYS OFFICE SPACE LTD within 21 days from when you received the corresponding Invoice. If you receive payment under any Relevant Contract in instalments, then Commission shall be calculated and paid on such instalments as they are received by you.

3.7 You shall within 21 days from receiving the payment for Services send to LOVE MONDAYS OFFICE SPACE LTD a written statement setting out, in respect of such month, and in respect of each Relevant Contract:

(a) the Commission payable to LOVE MONDAYS OFFICE SPACE LTD;

(b) the payments for Services received and details of any sums due which have not been received; and

(c) how the Commission has been calculated.

3.8 LOVE MONDAYS OFFICE SPACE LTD shall invoice you for the Commission payable in accordance with your statement submitted pursuant to clause 0, together with any applicable VAT, and the due date for payment by you of such Commission shall be 21 days from date of invoice.

3.9 Commission shall be payable to LOVE MONDAYS OFFICE SPACE LTD in pounds sterling.

3.10 Termination of this Agreement, howsoever arising, shall not affect the continuation in force of this clause 0 and your obligation to pay Commission to LOVE MONDAYS OFFICE SPACE LTD in accordance with it. Details of termination can be found in clause 6. 

3.11 In the event a client has taken space and then forfeits rent and is therefor excluded from the business centre, the provider will be entitled to claim back (clawback) the portion of the commission for which the client is not in occupation. I.E Commission is paid on 12 months and client moves out after 9 months – the provider can ‘clawback’ 3 months worth of commission (monthly licence fee x 3 @10% in this example). Exclusions for this include but are not limited to

(a) where the provider has decided to close the business centre

(b) where the provider has moved the client internally and reduced the rent/ licence fees of their own accord

(c) where the client has released the client from their contract to accommodate another client

(d) any other circumstance which is not a direct result of the client not paying their rent/licence fee.

(e) any other circumstance where the client leaves the building not relating to refusal to pay their licence fee.

4.0 Your obligations

4.1 You must at all material times act in good faith towards LOVE MONDAYS OFFICE SPACE LTD.

4.2 You shall provide LOVE MONDAYS OFFICE SPACE LTD at all material times with the information LOVE MONDAYS OFFICE SPACE LTD reasonably requires to perform its duties, including marketing information for and details of the Services.

4.3 You shall inform LOVE MONDAYS OFFICE SPACE LTD immediately if you suspend or cease to perform the Services.

4.4 You shall be under no obligation to:

(a) follow up any introduction made by LOVE MONDAYS OFFICE SPACE LTD; or

(b) enter into a Relevant Contract.

4.5 In the event you are closing a business centre or site within your portfolio where LOVE MONDAYS OFFICE SPACE LTD have placed a client(s), you will immediately make LOVE MONDAYS OFFICE SPACE LTD aware of the situation and cc LOVE MONDAYS OFFICE SPACE into communication with the client(s) so that we may further service the client. This does not affect your right to relocate them within your portfolio.

5.0 Data protection

5.1 For the purposes of this clause, “Data Protection Laws” means the regulations on the protection of natural persons with regard to the processing of personal data and on the free movement of such data known as the General Data Protection Regulation ((EU) 2016/679) and any national legislation including the Data Protection Act 2018 implementing such regulation or otherwise related to data protection and privacy.

5.2 The parties acknowledge and agree that it is not envisaged any personal data (as defined in the Data Protection Laws) will be processed pursuant to this Agreement by either party as a data processor (as defined in the Data Protection Laws) and each party shall comply with its own obligations pursuant to the Data Protection Laws.

5.3 In the event that personal data begins to be processed pursuant to this Agreement, the parties shall enter into data processing provisions in compliance with the Data Protection Laws.

6.0 Termination

6.1 These conditions shall be terminable with immediate effect by either party on the giving of written notice to the other. Notwithstanding any such termination, the Operator shall pay all outstanding Commission due as at the date of such termination and any Contract entered into following termination between the Operator and a Customer prior to termination shall give rise to the payment of Commission in accordance with these terms and conditions as if these conditions continued to apply.

6.2 If a Business Centre (or a group or part of a group of Business Centres) is sold it is your responsibility to advise LOVE MONDAYS OFFICE SPACE LTD in writing and ensure that the new owners are aware of the future Commission payment obligations to Love Mondays Office Space LTD. Where the Business Centre is sold, it is expected that all liabilities & obligations to LOVE MONDAYS OFFICE SPACE LTD will form part of the Sale, thereby obligating the new owners to maintain all due future payments to LOVE MONDAYS OFFICE SPACE LTD. Failure to comply will result in the original owners/vendors being liable for any outstanding and future commission payments.