Leave & License Agreement – Commercial

LEAVE AND LICENSE AGREEMENT

THIS AGREEMENT OF LEAVE AND LICENSE, entered into on this 01st day of [DATE], at [PLACE]

BETWEEN

Ms. [LICENSOR NAME] (PAN: [PAN]), Age [AGE], residing at [ADDRESS], PARTY OF THE FIRST PART

Through her P.O.A. Mr. [POA HOLDER NAME], Age: [AGE], Occupation: Business, PAN: ___________, Aadhaar: _____________, Residing at: [ADDRESS], [PLACE], [PIN]

Hereinafter referred to as “THE LICENSOR” (Which expression shall unless it be repugnant to the context and meaning thereof shall mean and include they themselves, his/her/their heirs, successors, representatives, assigns, executors)

AND

M/s. [COMPANY NAME] (CIN: [CIN]), a Company registered under Companies Act, 1956 and having its registered office [ADDRESS], [PLACE] [PIN] through its authorised person Mr. [AUTHORIZED PERSON NAME], PARTY OF THE SECOND PART

Hereinafter referred to as “THE LICENSEE” (Which expression unless it be repugnant to the context and meaning thereof shall mean and include its Directors, agents, representatives, administrators, executors, assigns, etc.)

WHEREAS the Licensor is absolutely seized and possessed of and or otherwise well and sufficiently entitled to all that constructed portion being unit [ADDRESS] of the [PLACE] Rent Control Act, 1999.

AND WHEREAS the Licensee herein is in need of temporary premises for his/her/their Commercial use has/have approached the Licensor with a request to allow the Licensee herein to use and occupy the said premises on Leave and License basis for a period of 60 Months commencing from [DATE] and ending on [DATE], on terms and subject to conditions hereafter appearing.

AND WHEREAS the Licensor have agreed to allow the Licensee herein to use and occupy the said Licensed premises for his/her/their aforesaid Commercial purposes only, on Leave and License basis for above mentioned period, on terms and subject to conditions hereafter appearing;

NOW THEREFORE IT IS HEREBY AGREED TO, DECLARED AND RECORDED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:-

Period:

That the Licensor hereby grants to the Licensee herein a revocable leave and license, to occupy the Licensed Premises, described in Schedule I hereunder written without creating any tenancy rights or any other rights, title and interest in favor of the Licensee for a period of 60 Months commencing from [DATE] and ending on [DATE]

License Fee & Deposit:

That the Licensee shall pay to the Licensor the following amount per month towards the compensation for the use of the said Licensed premises.

a) [AMOUNT]/- [QUANTITY] per month from [DATE] till [DATE],

b) [AMOUNT]/- [QUANTITY] per month for the period from [DATE] to [DATE],

c) [AMOUNT]/- [QUANTITY] per month for the period from [DATE] to [DATE],

d) [AMOUNT]/- [QUANTITY] per month for the period from [DATE] to [DATE].

The amount of monthly compensation License fee shall be payable within first five days of the concerned month of Leave and License.

Licensees shall also pay to the Licensor [AMOUNT] interest free refundable deposit, for the use of the said licensed premises.

Payment of Deposit:

That the Licensee has paid the above mentioned deposit/premium as mentioned above by Cheque/NEFT/RTGS No. [●], dated – [DATE], drawn on the Licensee’s Banking Account with Bank of India Bank, Charni road Branch. Amount [AMOUNT]/-[QUANTITY]

Maintenance Charges:

That the all outgoings including all rates, taxes, levies, assessment, maintenance charges, non occupancy charges, etc. in respect of the said premises shall be paid by the Licensor.

Electricity Charges:

The licensee herein shall pay the electricity bills directly for energy consumed on the licensed premises and should submit original receipts to Licensor indicating that the electricity bills are paid.

Use:

That the Licensed premises shall only be used by the Licensee for Commercial purpose. The Licensee shall maintain the said premises in its existing condition and damage, if any, caused to the said premises, the same shall be repaired by the Licensee at its own cost subject to normal wear and tear. The Licensee shall not do anything in the said premises which is or is likely to cause a nuisance to the other occupants of the said building or to the prejudice in any manner to the rights of Licensor in respect of said premises or shall not do any unlawful activities prohibited by State or Central Government.

Alteration:

That the Licensee shall not make or permit to do any alteration or addition to the construction or arrangements (internal or external) to the Licensed premises without previous consent in writing from the Licensor.

No Tenancy:

That the Licensee shall not claim any tenancy right and shall not have any right to transfer, assign, and sublet or grant any license or sub-license in respect of the Licensed Premises or any part thereof and also shall not mortgage or raise any loan against the said premises.

Inspection:

That, the Licensor shall on reasonable notice of at least [QUANTITY] days given by the Licensor to the Licensee shall have a right of access either by himself / herself / themselves or through authorized representative to enter, view and inspect the Licensed premises at reasonable intervals.

Cancellation:

That, Subject to the condition of lock in period (if any), if the Licensee commits default in regular and punctual payments of monthly compensation as herein before mentioned or commit/s breach of any of the terms, covenants and conditions of this agreement or if any legislation prohibiting the Leave and License is imposed, the Licensor shall be entitled to revoke and / or cancel the License hereby granted, by giving notice in writing of one month and the Licensee too will have the right to vacate the said premises by giving a notice in writing of one month to the Licensor as mentioned earlier.

Possession:

That the immediately at on the expiration or termination or cancellation of this agreement the Licensee shall vacate the said premises without delay with all his/her/their goods and belongings. In the event of the Licensee failing and / or neglecting to remove himself / herself / themselves and / or his/her/their articles from the said premises on expiry or sooner determination of this Agreement, the Licensor shall be entitled to recover damages at the rate of double the daily amount of compensation per day and or alternatively the Licensor shall be entitled to remove the Licensee and his/her/their belongings from the Licensed premises, without recourse to the Court of Law.

Registration:

This Agreement shall be registered, and the stamp duty, registration fees, and all incidental charges, if any, shall be borne and paid equally by the Licensor and the Licensee, in equal proportion (50% each).

SCHEDULE I

(Being the correct description of premise Office which is the subject matter of these presents)

All that constructed portion being Commercial unit bearing Office No. [ADDRESS], Built-up :[FIGURE] Square Meter, situated on the G+2 Floor of a Building known as '[ADDRESS]' standing on the plot of land bearing C.T.S. Number :[NUMBER] ,Road: [ADDRESS] , Location: [PLACE] , of Village: [PLACE] ,situated within the revenue limits of Tehsil [PLACE] and Dist. [PLACE] and situated within the limits of [PLACE] Municipal Corporation.

IN WITNESS WHEREOF, the parties hereto have set their hands the day and year mentioned first hereinabove.

SIGNED, SEALED AND DELIVERED by the ]

Within Mr. [LICENSOR'S AGENT NAME], as Constituted Attorney ]

of [LICENSOR NAME] (Licensor) ]

]

SIGNED, SEALED AND DELIVERED by the ]

Within M/s. [COMPANY NAME] as ]

Licensee through its authorised person ]

Mr. [AUTHORIZED PERSON NAME] ]

In the presence of.................

1.

2.