DRAFTED BY
SRIDHARA BABU N
LEGAL DOCUMENTATIONS
9880339764
This License Deed made at................. on this day.................. of.........20.... BETWEEN M/S ................................a Company registered under the Companies Act, 1956 having its Registered Office at................... ……………………. ...... Represented by it’s duly constituted attorney Mr ………………………………………. S/o ………………………………………………….. aged …………..years resident of ……………………………………………… and working as …………………………… in the above company, hereinafter Referred to as The Licensor (which term or expression shall unless otherwise excluded by or repugnant to the subject or context be deemed to mean and include its successors in office and assigns) of the ONE PART.
AND M/S …………………………………………….. Company incorporated under the provisions of the Companies Act, 1956, having its Registered Office at.......... and Corporate Office/Circle Office
at......................................-... Represented by it’s duly constituted attorney Mr ………………………………………. S/o ………………………………………………….. aged …………..years resident of ……………………………………………… and working as …………………………… in the above company, hereinafter referred to as "Licensee" which term and expression shall unless repugnant to the meaning and context hereof shall mean and include its successors in business, affiliates, subsidiaries and assigns), of the other PART
WHEREAS, the Licensor is a bonafide owner of the premises situated at.......…………………………..
Municipal khatha number …………………………. Ward number …………………….. on the front side of the said property along with provisions for putting glow signs etc. and having an area of...............sq.ft. towards …………………………………….. shown and delineated in the plan annexed hereto, hereinafter referred to as the "said premises" by virtue................ dated sale deed duly registered with the sub-Registrar of …………………………………… in Book No : 1 Vol No:………….. Page ……….. to ………. Year ……………….. Registration number ……………………… executed in favour of the Licensor.
WHEREAS, the Licensor has assured that he is absolutely seized and possessed of or otherwise well and sufficiently entitled to the demised premises.
and WHEREAS the Licensee has approached the Licensor to grant License of the said premises as above mentioned for using it as commercial space for its Show Room advertisement and to provide business..................... as may be decided by the Licensee at its discretion.
NOW the Licensor has agreed to give on rent and the Licensee has agreed to take on fee the said usage of premises on the terms and conditions given below :
AND THERE FORE THIS INDENTURE OF LICENSE WITNESSETH AS FOLLOWS:
1. In consideration of the monthly fee herein fixed and the other covenant and conditions. Contained hereunder the LICENSOR doth hereby demise unto the LICENSEE by way of present License the entire demised premises together with the right of ingress and egress from the front to use the same as Licensee for the term hereby fixed.
2. In consideration of the LICENSOR granting the License hereunder of the demised premises to the Licensee, the Licensee agrees to pay to the Licensor a monthly fee of Rs................ Rupees..........................only per month @ Rs.................per sq. ft for................. sq. ft. The said Monthly fee shall be payable on or before fifteenth day of each English Calender month in advance for the month. In case of any delay in paying the monthly fee, as its becoming payable as stated, beyond 30 days of that month, the Licensee will pay interest on the delayed payment @.......... per annum. It has been agreed between both the parties that after the expiry of every three years, from the effective date, fee will be increased by............ per cent on the last paid fee.
3. The Licensee shall also keep with the Licensor, a sum of Rs........... (Rupees......................... only) as interest free refundable Security Deposit amount at the time of starting the use of the licensed premises. The total security deposit shall be refundable through Bank Draft/Bankers cheque favouring "………………………" payable at ………………….. (or in the current name of the Licensee Company) by the LICENSOR to the LICENSEE simultaneously on the relinquishing over the use of the premises after deducting all the legitimate dues and fee of notice period, if any, of the said demised premises in consonance with the covenants of the License Deed.
4. Provided that in case the LICENSOR fails to refund the aforesaid security deposit amount simultaneously to the Licensee on the date of handing over of the usage rights to the Licensor, licensee shall be entitled to an interest @ ............% per annum on the said security deposit till
5. the realization. Further, the Licensee shall be entitled to use the demised premises without payment of any fee till the date of refund of the whole of the security deposit amount along with interest.
6. If Licensee will not stop the usage of the demised premises on expiry of the License by efflux of time or after termination of the License for the reasons stated in the present License deed. Licensee will pay an amount double of monthly fee as damages and /or use and benefiting charges without any way affecting the right of the Licensor to get the Licensee restrained from the using the premises including through due process of law.
7. The Licensee shall have the right to get the amount of Security Deposit adjusted against the fee payable during the notice period.
8. If for any reason the Licensee does not pay the fee consecutively for three months, then the agreement may be deemed to be terminated at the option of the Licensor.
9. That this License of demised premises will be effective from.............. 20 ...... The License will be initially for a period of................years, and the same shall be extended for such terms as may be mutually agreed between the parties.
10. The Licensee shall have the right to terminate the License Agreement, at his option only, by giving three months notice to the Licensor any time during the pendency of this License Agreement.
11. In case the Licensee is forced to stop the usage of the premises due to any Government regulations order or directions forcing the Licensee to stop, for the reason of default of licensor using the premises for the purposes which is not authorized or due to any other building regulations the Licensor shall make good all loss or damage suffered by the Licensee in this regard.
12. The property tax shall be payable by the Licensor as may be assessed by the statutory bodies, Municipal Authority on …………………………… under the terms of this License Deed and in case of any increase thereon or any fresh levies, the same shall be borne by the Licensor.
13. Similarly, if in future the Municipal Corporation increases the taxes, the actual incidence of the increase in relation to the demised premises shall be borne by the Licensor. However in the event the Licensor fails to reimburse the Municipality tax charges or any other charges due in respect of the property as a result of which Licensee's usage to the demised portion is jeopardized then the Licensee may arrange to pay such taxes directly to the Municipal Authority in respect of the demised portion used by the Licensee and shall be entitled to reimbursement by the Licensor, and such non-payment of the payment within one month of such payment the Licensee shall be entitled to adjust the same with the monthly license fee.
14. The Licensor hereby agrees and undertakes and represents that he shall not do any act deed or thing which may determine his rights under the License Deed and shall keep the same valid and subsisting during the subsistence of this License including renewal if any thereof in accordance with the provisions hereof and the Licensor shall indemnify and keep indemnified and saved harmless the Licensee against all loss or damage that may be suffered or incurred by the Licensee as a consequence of the termination of the deed referred to above during the subsistence of his right on the demised premises in any manner whatsoever subject to the License thereof to the Licensee.
The Licensee covenants with the Licensor as under:
a) To pay all the charges on accruals for the consumption of electricity, water charges to the concerned Authorities/Society in respect of the demised premises. The Licensee has noted that the Meter reading for the portion of Licensee as on the date of taking over the possession is....................... and the Meter No....................
b) Not to object for the Licensor and his duly authorized representative and workmen to enter upon the demised premises during the normal working hours on all working days to ascertain the condition of the demised premises and affect repairs thereto after giving advance intimation to the Licensee.
c) To use the said demised premises for the purpose of ……………………………………… by the Licensee and the Licensee will not part with the usage of the whole of or any part of the demised premises to any third party without the previous consent in writing of the Licensor.
d) However, it is specifically agreed by the Licensor that no written consent shall be required to be taken by the Licensee in respect of Group/ Franchisee/Associate Companies. To make internal/exterior structural changes not touching the basic structure of premises, like removing false roof/ mezzanine etc.
e) Provision of a toilet has to be made,
f) Not to store or bring any hazardous or other articles, or to do any act which might render the demised premises unsafe for human habitation or cause nuisance to the occupants of the adjoining buildings.
g) The Licensee can install its cell site/s, cooling tower/s, put his name plate/s, board/s, and glow sign/s on the face of the premises.
The Licensor covenants with the Licensee as under:
a. The Licensor undertakes to allow the usage of the demised premises, on.......... 20....
b. To comply with and ensure compliance of all provisions of the License Deed as well as other statutory provisions relating to demised premises and regulations, orders, directions or requirements of the …………………………. Municipal and other Government statutory and local authorities concerning or in respect of or relating to the demised premises at his own cost and expenses in so far as it is attributable to him.
c. On the Licensee paying the License fee hereby reserved and observing and performing the covenants and conditions contained herein and required to be observed and performed by it, to facilitate the LICENSEE to peacefully hold enjoy the whole of the demised premises together with the fixtures and fittings therein as per the list enclosed herewith during the term(s) of the License including renewal thereof, if any, without any let, interruption, hindrance or disturbance whatsoever from or by the Licensor or any person claiming through or under or in trust from him. (a) The Licensor shall indemnify and keep the Licensee indemnified and saved harmless at all times against all losses, claims, demands costs charges, proceedings, actions and assessment whatsoever, to which the Licensee may be subject to or become liable for including the costs of defending any proceedings affecting its usage rights hereunder due to any act or omission of Licensor.
d. The Licensor warrants that he is the lawful owner of the demised premises and is fully empowered and authorized and able to enter into this License and shall hold the Licensee free and harmless of any demands, claims, actions or proceedings by other in respect of quite possession of the premises.
e. The Licensor declares and confirms and agrees that the Licensee shall be fully entitled to induct its Franchisee and/or its associates to carry on advertising from the demised premises, without further consent of the Licensor. The Franchisee or the Associate, as the case may be, shall have unfettered access to the Showroom to carry on its business.
The Licensee and the Licensor covenants as follows:
A. It is a term of this License that on the expiry of the agreed License period and such extended period of License in case there is any renewal the Licensee shall stop the usage of the Licensed premises restore it’s good condition, normal wear and tear expected.
B. It is further agreed to and between the parties that what ever the Licensee has inducted into the premises by way of furniture, by way of additions, partitions, false ceilings, installation, equipment, plant and machinery, etc. both movable and fixed shall be the exclusive property of Licensee and the Licensee shall be free to dismantle, remove and carry the same according to the convenience.
C. The Licensee shall not have the right to carry out major additions, alterations, to the demised premises or any part thereof without the permission of the Licensor. The Licensee shall also be entitled to install or erect or otherwise bring in or put inside the demised premises any/all apparatus, instruments, implements, equipments, computers, computer terminals, generator sets, etc, and such other machines as may be deemed necessary required by the Licensee for its use.
D. That if the Licensor at any time during the period of this License sells the demised premises as whole or in any part or parts thereof to any one person or more than one person then in that event the Licensor shall attorn to such transferees or transferee on the same terms and conditions as are contained herein. However, a letter shall be issued by the prospective landlord/s in favour of the Licensee and they will also acknowledge the security deposit paid by the Licensee to the Licensor whose benefit shall be transferred to the new landlord and all adjustments shall be in accordance with the present Licence. The same shall also apply in case of any subsequent sale or transfer of the License hold rights. The Licensor will ensure that the Licensee's possession shall not be disturbed due to any Sale A Transfer during the License period.
E. The Licensor during the subsistence of the License, will have the right and privilege to enter upon the demised premises Licensed to the Licensee after due notice for inspection, repair of any structure repairing, relaying any electric cables, water lines etc. But shall not induct other licencee’s.
F. That the Licensor shall insure the demised premises at his cost against loss or damage by fire, earthquake or any act of God. However in respect of the fittings and fixtures, contents inside the demised premises including the addition, alterations the Licensee shall be liable to insure the same.
G. Any notice to be given by either party in connection with the demised premises shall be considered as sufficiently given if sent through registered post addressed to the other party at the addresses mentioned above unless a different address has been intimated in writing against receipt.
H. On the determination of this agreement the electric wiring of the said premises in relation to the said advertisement and the switchboard in connection therewith shall become the property of the owner but the said advertisement and the lights used in connection therewith shall remain the property of the advertiser and shall be removed by him within fourteen days he making good all damage done to the said premises in consequence of such removal. If from any cause such removal shall not be effected within the time aforesaid the payments hereinafter reserved shall continue to be payable until such removal shall be effected.
I. If at any time during the continuance of this agreement the said advertisement should temporarily cease to be exhibited by the owner for any reasonable cause (such as any part of the said premises requiring to be repaired and the execution of such repairs necessitating the temporary removal or obscuring of the said advertisement) then and in every case the owner will make a proportionate abatement in the payments due under this agreement during such time as such exhibition shall be impeded which abatement the advertiser shall accept without making any further claim. Except as in this clause provided no abatement shall be made,
J. If at any time during the continuance of this agreement the said hoarding shall be wholly or partly demolished by accident, or required to be repaired and the execution of such repairs necessitating the temporary removal or obscuring of the said hoarding, then and in every case the owner will make a proportionate "abatement in the payment due under this agreement during such time as such display of advertisements on the said hoarding shall be impeded which abatement the advertisers shall accept without making any further claim. Except as in this clause provided no abatement shall be made.
K. The advertisers shall be responsible for obtaining the necessary premission of the local authority or other statutory authority if and when necessary in connection with the display of any advertisement on the said hoarding and undertake to comply at all times with all the relevant Acts of Parliament.
M. The advertising company agrees that in the erection, maintenance and use of such signs it will comply with all laws and ordinances, and valid regulations adopted pursuant thereto; that it will not display, or suffer to be displayed, any immoral or otherwise objectionable matter upon any of such signs; that it will pay all licence fees and other charges which may be assessed by any public authorities in connection with such signs; that it will indemnify the owner against any and all claims for damages to person or property which may result from the erection, maintenance or use of such signs, and will, at its own expense, make all repairs to the building which may be necessary by reason of the erection and use of such signs.
Arbitration.
(a) All disputes, differences and/or claims arising out of this agreement shall be settled by Arbitration in accordance with the provisions of Arbitration and Conciliation Act, 1996 or any statutory amendment thereof.
(b) The dispute shall be referred to Arbitration by a sole Arbitrator who shall be appointed by a Director and/or CEO of XYZ Company.
(c) The Second Party shall not challenge the nomination of Arbitration or his award on the ground that the nomination is made by a Director and/or CEO of XYZ Company being an employee of one of the parties.
(d) The Arbitration proceedings shall be in English and will be held at................
(e) The award of the Arbitration shall be final and binding on both the parties.
If the Arbitration proceedings fails the Courts of …………………..shall have the exclusive jurisdiction.
IN WITNESS WHEREOF, the parties hereto have set and subscribed theirs respective hand and seals the day months and year first above written.
Signed for and on behalf of Signed for and on behalf of
Licensee
Licensor
Name :
Witness :
Name : Witness :