LEASE DEED
This Deed of Lease together with all the annexures (“LEASE DEED’’) is made and executed at
_____________ on this ________day of __________20___.
BY AND BETWEEN
Mr. ________________ S/o ________________ Resident of _________________________,hereinafter
referred to as the “LESSOR” of the FIRST PART;
AND
________________________________________________, through its authorised signatory / Proprietor
Mr.________________ S/o ________________, hereinafter referred to as the "LESSEE"(which
expression shall, unless repugnant to the context or meaning thereof be deemed to mean and include
its assigns and successors) of the SECOND PART.
(The LESSEE and the LESSOR shall hereinafter be collectively referred to as the “Parties” and individually
as the “Party” as the context may require).
WHEREAS:
A) The LESSOR is the absolute owner in possession of commercial Space in_______________ space
admeasuring 997 sq ft situated _______________ at Unit no. ____________, _______ floor,
___________________, SECTOR -____________,Gurgaon, Haryana..
B) The LESSEE, with a view to take on lease this space, demanded from the LESSOR, inspection of the
site, tentative building plans, ownership record, Licences and other documents relating to the title and
competency of the LESSOR and all other documents pertaining to the said space /Complex, which have
been provided to the LESSEE by the LESSOR to its full satisfaction.
C) The LESSEE after fully satisfying itself with respect to the right, title, interest, design, specifications
and quality of construction of the said space has approached the LESSOR to take on Lease this
commercial space, tentatively admeasuring ______ sq.ft. of super area on the ____ Floor bearing Unit
No._______, __________, SECTOR-______, Gurgaon, Haryana in the said Complex in Plug and Play
condition with fit-outs (hereinafter referred to as the “Demised Premises) to carry on the businesses for
official purpose.
Super area of Demised Premises shall be the sum of Specific area of the Demised Premises and its prorata share of common areas in the entire Complex and its periphery.
The Specific area of the Demised Premises shall mean the entire are a enclosed by its periphery walls
including area under walls, columns and half the area of walls common with other premises etc., which
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form integral part of the Demised Premises, including internal balcony (ies), if any. The Common Area
shall mean all such parts/areas in the said Complex, which the LESSEE of the Demised Premises shall use
by sharing with other occupants of the said Complex including corridors and passages, atrium, common
toilets, lifts and lift lobby, escalators, area of cooling towers, AHU rooms, security/fire control room(s),
all electrical shafts, D.G. shafts, A.C. shafts, pressurization shafts, plumbing and fire shafts on all floors
and rooms, staircases mum ties, lift machine rooms and water tanks. In addition, entire services area in
the basement including but not limited to electric substation, transformers, D.G. set rooms,
underground water and other storage tanks, AC plant room, pump rooms, Maintenance and Services
rooms, fan rooms and circulation areas etc. shall be counted towards common areas and any other
utilities/facilities that may be added now or later for the efficient functioning of the complex shall be
counted towards common areas.
The super area of Demised Premises provided with usable open balcony area shall also include full area
of such balcony in the ratio, and LESSEE shall have full right to use the same.
G) The LESSEE has represented to the LESSOR that the Demised Premises shall be used for the purpose
of running businesses related to internet job portal and not for any manufacturing activities. All
activities are to be legally acceptable.
I) The LESSEE has represented and warranted to the LESSOR that it has the power and authority to enter
into and perform this Lease deed.
NOW THEREFORE THIS DEED OF LEASE WITNESSETH AS FOLLOWS:
ARTICLE 1
LEASE
1.1
The foregoing recitals as mentioned above are incorporated herein by this reference and
constitute an integral part of this Lease Deed.
1.2
That subject to the terms and conditions herein contained and upon due payment of the Lease
rent herein agreed and fulfillment by the LESSEE of all the covenants agreed hereby, the LESSOR
agrees to Lease and the LESSEE hereby takes on Lease the Demised Premises admeasuring
_____ sq. ft. of super area on the ____Floor bearing Unit No. ____, _____________, SECTOR
________, Gurgaon, Haryana in the said Complex in Plug and Play condition with fit-outs along
with the right to permitted use of the common areas in the Complex jointly along with the other
occupants of the Complex for the agreed Lease Period.
1.3
That the LESSOR shall hand over the vacant, peaceful and exclusive possession of the Demised
Premises to the LESSEE at the time of execution of this Lease Deed.
ARTICLE 2
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TERM
2.1
Commencement of Lease for the said premises will take effect from _____________________,
(hereinafter termed as the “Lease Commencement Date”).
2.2
That the Lease Term shall be for a period of 6 (Six) years from the Lease Commencement Date.
After expiry of this a fresh lease deed shall be executed on mutual terms and conditions at the
market rate of rent then prevailing.
2.3
That it is agreed between the Parties that out of the Lease Period the initial period of 3 years (36
months) shall be the lock-in-period, wherein the Lease, except for breach/default as mentioned
elsewhere in this Lease deed, cannot be terminated by the LESSEE or the LESSOR for any reason
whatsoever. If the LESSEE surrenders the Demised Premises and terminates the Lease before
the expiry of initial 3(Three) years (lock in period) from the Lease Commencement Date, the
LESSEE shall be liable to pay to the LESSOR compensation equivalent to the Lease Rent, and
other applicable charges for the remaining lock-in period. However, LESSEE shall have a right to
terminate the lease by serving 6 (Six) months notice after expiry of Lock-in Period of 36 months.
2.4
That after expiry of the 3 (three) years lock-in period, the LESSEE shall be entitled to terminate
this Lease Deed after giving a prior 6 (Six) months notice in writing to the LESSOR to this effect.
ARTICLE 3
PAYMENTS
3.1
That in consideration of the LESSORs agreeing to grant to the LESSEE, the lease of the Demised
Premises, the LESSEE shall pay to the LESSOR a monthly Lease Rent @ Rs _______
(Rupees____________ Only) per sq ft Including maintenance charges per month for using the
demised premises for the initial period of 3 (three) years from the Lease Commencement date.
The rent will be paid to the LESSOR subject to deduction of Income tax as applicable.
3.2
The Lease Rent for succeeding term of 3 years shall be enhanced by 25 % over and above the
Lease Rent paid for the immediately preceding term.
3.3
That the Lease Rent and the other charges in respect of the Demised Premises as specified in
this Lease deed shall be paid monthly in advance on or before the 7th of each English calendar
month in respect of which the Lease Rent is due. Any delay in payment of Lease Rent by the due
date shall, without prejudice to the LESSOR’s rights to take action against the LESSEE in
accordance with this Lease Deed, attract interest @ 18% p.a. for the period of delay, which shall
also be payable by the LESSEE to the LESSOR.
3.4
That in addition to monthly Lease Rent payable by the LESSEE in accordance with the Agreement
to Lease and the Lease Deed, the LESSEE has paid an Interest Free Refundable Security Deposit
(“IFRSD”) equivalent to 4 (Four) month's Lease Rent, and 2 (Two) month’s Rent in advance vide
cheque no . ________amount ________ Bank ________ dtd. _________.
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ARTICLE 4
REPRESENTATIONS AND OBLIGATIONS OF THE LESSOR
The LESSOR represents and warrants to the LESSEE and makes the following covenants:
4.1
That it has the absolute right, power and authority to Lease the Demised Premises, in the
manner herein contained.
4.2
The LESSOR has not entered into any agreement or arrangement for leasing out the Demised
Premises with anyone else.
4.3
The property tax on the said Complex/Demised Premises shall be borne and discharged by the
LESSOR.
4.4
The LESSOR has secured and will in future continue to ensure the validity and currency of all
relevant and valid sanctions, approvals and permissions from competent authorities for the
lawful use and occupation of Demised Premises by the LESSEE during the tenure of the Lease.
Further the LESSOR shall obtain all necessary approvals from all state, municipal and local
Government or statutory authorities for installation of generators, air conditionings system and
security in the said Complex.
4.5
That the LESSEE, its employees, clients, customers, suppliers, contractors, visitors of all kinds,
whatsoever, relating to the LESSEE's business shall have unlimited and unobstructed access 24
hours of the day, seven days of the week to the Demised Premises subject, however, to security
arrangements, statutory rules and regulations and payment of maintenance charges.
4.6
The LESSOR shall promptly notify the LESSEE in writing of any notice received by the LESSOR
from any Governmental or Municipal Authority or Public Body in respect of the Demised
Premises/Complex, which would adversely affect the interest of the LESSEE.
4.7
If the LESSEE fails to observe any law, direction, order, notice or requirements of any
Government or Public Body or Authority, the LESSOR may in its absolute and sole discretion
perform the same and all expenses and costs incurred thereby shall be recoverable from the
LESSEE.
4.8
LESSEE will pay service tax as applicable to the LESSOR.
ARTICLE 5
REPRESENTATIONS AND OBLIGATIONS OF THE LESSEE
5.1
That the LESSEE, as agreed herein, shall pay to the LESSOR the Lease Rent and all other sums
payable under this Lease deed not later than the 7th day of each calendar month in advance. In
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the event of any delay the LESSEE shall be liable to pay interest @18% per annum on all
amounts due and payable by the LESSEE under this Lease Deed.
5.2
That the LESSEE shall pay by the due date electricity charges as recorded in the meter and water
charges. That during the fit out periods the LESSEE undertakes to pay actual electricity, water
consumption charges as per the meter reading as applicable & also maintenance charges from
_________ onwards.
5.3
That the LESSEE shall, subject to the LESSEE's standard security policies, permit the LESSOR, its
office bearers, agents/ authorized representatives, from time to time, with a reasonable notice,
to inspect the Demised Premises during business hours, in the day time, to satisfy itself that the
LESSEE is using the Demised Premises in accordance with the terms and conditions of this Lease
Deed or at the times acceptable to the LESSEE, to carry out repairs to the Demised Premises
required by the LESSOR. The LESSOR agrees that the inspection shall be carried on by the
LESSOR, its agents or representatives in a manner so as not to disturb or hamper the functioning
of the LESSEE's business and that during the inspection, the LESSOR and its agents and
representatives will need to be accompanied by a LESSEE's representative.
5.4
That the insurance of the interiors of the Demised Premises shall be the responsibility of the
LESSEE and the LESSOR shall not in any case be liable for any damage or loss that may be caused
to the interiors, equipment, articles, chattels, etc. kept therein.
5.5
The LESSEE shall keep the interior of the Demised Premises in good condition (reasonable wear
and tear and damage by riots, fire, earthquake, tempest or other inevitable accidents or Acts of
God excepted).
ARTICLE 6
INDEMNITY
Without prejudice to the provisions contained in this Lease Deed:
The LESSOR warrants that it has full right, authority & necessary approvals, sanctions etc. to
execute this Lease Deed and carryout all the obligations as listed herein and/or in connection
with this Lease Deed. The LESSOR shall indemnify LESSEE against all action, cost, damages/losses
including any third party claim, suit or proceeding resulting from the LESSOR’s acts, omissions,
breach of representation and warranties under this Deed and/or violation of any law for time
being in force in connection with this Deed.
ARTICLE 7
GENERAL
7.1
Stamp Duty
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That the cost of stamp duty, registration fee & other charges as may be applicable for the
registration of this Lease deed shall be borne equally by the LESSOR and LESSEE.
7.2 Assignment / Attornment
That the LESSOR shall have an unfettered right to sell or transfer in parts or in whole, the
Demised Premises during the period of Lease to any Third Party and in such event such third
party(ies) shall be deemed to have stepped into the shoes of the LESSOR under the present
Lease Deed and as such will be entitled to all the rights of the LESSOR. However, the LESSOR
shall ensure that the LESSEE’s right herein are preserved and such third party(ies) shall be bound
by and adhere to the terms and conditions of this Lease deed for the balance period of Lease. In
the event a sale or transfer of the Demised Premises takes place in favour of any third party(ies),
the LESSOR, the LESSEE and the New Owners shall sign and execute a Tripartite Agreement
recognizing the rights and obligation of each Party. On execution of the tripartite agreement,
the rent will be attorned in favor of the new owner(s) and thereafter will be paid by the LESSEE
to such new owner(s) directly.
7.3 Entire Lease Deed
That this Lease deed constitutes the entire agreement between the Parties and is deemed to
revoke and supercede all previous agreements between the Parties, if any, concerning the
matters covered herein whether written, oral or implied. The terms and condition of this Lease
deed shall not be changed or modified except by written amendments specifically referring to
this Lease deed and duly agreed and signed by the Parties.
7.4 Signage
LESSEE shall be allowed to put up it’s name in the building ground floor directory and
signage/name board at the entrance door of it’s premises and on a totem pole. However, the
shape, location, size and dimensions of any such signage/name board shall be subject to
approval of Developer/LESSOR nominated maintenance agency/LESSOR’s Architect and law as
applicable to the same.
7.5 Telephone, FM, Internet and Cable Lines:
The LESSEE shall have the right to apply for, obtain and install as many telephone, fax, internet
and/or cable lines in the Demised Premises as it may deem necessary for its business activities in
its own name and at its own cost. The LESSEE shall pay the charges pertaining to such lines
installed, directly to the appropriate agencies /authorities. On receipt of a request from the
LESSEE, the LESSOR shall execute such documents as may be required by the LESSEE for
applying, obtaining and installing such telephone, fax, internet and/or cable lines. The LESSEE
shall remove the telephone, fax, internet and/or cable lines obtained and installed by it, on the
expiry or earlier termination of the Lease, without damaging any portion of the Demised
Premises except the normal wear and tear.
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ARTICLE 8
MAINTENANCE
8.1
That the Parties understand that said Complex derives its prestige, esteem and appeal from the
ambience and high standards maintained at the said Complex on day to day basis and as such
proper upkeep and maintenance is an in separable aspect of such prestige, esteem and appeal.
Towards this end, the Maintenance Agency, duly appointed by the LESSOR, shall undertake
proper maintenance of the said Complex, likewise, the LESSEE undertakes to pay his share of the
maintenance charges from the date of commencement of the lease to the Maintenance Service
Provider, on actual basis which is currently determined @ Rs_______ (Rupees ________ only)
per sq. ft Plus taxes as applicable. per month as a cost indicator of Super Area per sq ft. .
8.2
That the maintenance charges would be payable monthly from the Lease Commencement date
by the 7th day of the succeeding month.
8.3
The LESSEE will be responsible for the payment of annual maintenance charges for the air
conditioning system installed inside the premises, It would be LESSEE’s responsibility to keep
equipments maintained, Serviced and in good operating condition,
8.4
The LESSEE ensures that fire fighting system is operational all the time and regularly checked by
the service provider/Inspection authority is done as per maintenance schedule,
ARTICLE 9
TERMINATION
9.1 LESSEE’S RIGHT TO TERMINATE:
9.1.1
The LESSEE shall after the expiry of the Lock-in-period, as defined hereinbefore, have the sole
option to terminate this Lease Deed at anytime by giving a 180 days written notice to the
LESSOR in this regard. However, LESSEE shall have a right to terminate the lease by serving one
hundred eighty days notice after expiry of 36th month out of lock-in-period of 3 years.
Upon the expiry of the aforesaid 180 days notice period the LESSEE shall handover physical,
vacant and peaceful possession of the Demised Premises to the LESSOR in the same condition as
was handed over to the LESSEE with the fit outs and air conditioner provided by the LESSOR
subject to normal wear and tear.
9.1.2
That upon termination of this Lease Deed by the LESSEE, the LESSOR shall refund the IFRSD only
upon the LESSEE surrendering vacant and peaceful physical Possession of the Demised Premises
with the fit outs and air conditioner provided by the LESSOR and after deducting the arrears of
Lease Rent and other charges due and payable by the LESSEE (if any).
9.1.3
That if the LESSEE is ready and willing to vacate the Demised Premises upon termination or
expiry of the Lease after serving due written notice as stated hereinabove, and the LESSOR fails
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to refund the IFRSD after deducting the arrears of Lease Rent and other charges due and
payable by the LESSEE (if any) to the LESSOR after the LESSEE has handed over the peaceful and
vacant physical possession of the Demised Premises to the LESSOR within 15 days from the
settlement. The LESSOR shall, on the unpaid balance of IFRSD, if any, pay to the LESSEE interest
@ 18% per annum from the date on which the IFRSD becomes due for refund.
9.2 LESSOR’S RIGHT TO TERMINATE:
That notwithstanding and without prejudice to the rights of the LESSOR regarding termination in
terms and conditions as contained herein this Lease, the LESSOR may also terminate this Lease
Deed upon happening of any of the events of default stated herein below by giving a notice of
90 (ninety) days to the LESSEE,
9.2.1
A failure on the part of the LESSEE to pay the Lease Rent to the LESSOR for 2 consecutive
months after falling due without reasonable cause or
9.2.2
That if the LESSEE fails to pay the Maintenance charges or part thereof or other payment
required to be paid by the LESSEE under the Lease Deed when due or
9.2.3
That if the LESSEE omits to perform, observe any covenant or condition to be observed and
performed as per this Lease Deed and continues to do so or does not remedy the breach within
the time limit of 30 (thirty) days or
9.2.4
That if the LESSEE transfers or assigns or sub-lease or sub-let or encumber or parts with the
Demised Premises or encumbers or creates any lien or right whatsoever thereon, or create lien
or right in favour of the third party in the Demised Premises except otherwise as agreed herein
without written authorization from the LESSOR or endangers or cause damages to the Demised
Premises, in any manner whatsoever or
9.2.5
That if the LESSEE is declared bankrupt or becomes insolvent or makes an assignment for the
benefit of creditors or
9.2.6
That if the LESSEE is in default under any other agreement executed with the LESSOR or the
Maintenance Service Provider or has been declared to have been in default by the LESSOR or
9.2.7
That if upon happening of an event which indicates that the LESSEE is unable or may in the
future be unable to pay its debts as and when they fall due or
9.2.8
That the execution or performance of this Lease deed, by the LESSOR or the LESSEE, in the
opinion of the LESSOR is contrary to applicable law or is otherwise prevented due to any reason
beyond the reasonable control of either party.
9.3
That upon the occurrence of any Event of Default and any breach as specified herein above in
this Lease by the LESSEE at any time thereafter, in addition and without prejudice to the right available
to the LESSOR in this Lease Deed hereinabove, the LESSOR shall notify all sums due and to become due
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hereunder as immediately due and payable by the LESSEE and upon the LESSEE failing to make the said
payment within 30 days thereof, LESSOR may, at its sole discretion do any or all of the following:
9.3.1
That the LESSOR may forthwith re-enter upon the Demised Premises or any part thereof and
this Lease Deed shall thereupon stand determined but without prejudice to any claim or right
which the LESSOR may have against the LESSEE in respect of any breach, non- performance or
non-observance of the covenants or conditions herein contained.
9.3.2
That the LESSOR may at all times adjust all moneys including the security deposit or unadjusted
advance Lease Rent deposited by the LESSEE under this Lease Deed against all sums due from
the LESSEE including interest, damages, etc. However, if the arrears of Lease Rent and any other
sum due and payable by the LESSEE exceed the amount deposited as security, then the LESSOR
shall be entitled to recover such amounts from the LESSEE along with interest @ 18% per annum
compounded quarterly until the date of its payment/recovery and which right shall be without
prejudice to any other remedy available to the LESSOR under this lease deed or otherwise.
9.4 COSTS:
That the LESSEE shall be liable for all legal fee and other cost and expenses resulting from the foregoing
defaults of the LESSEE as mentioned in clause 9.2 and or arising out of the any breaches by the LESSEE as
mentioned in this Lease Deed. However, stamp duty / legal cost for the same has to be borne equally
between the LESSOR and LESSEE. The original copy of registered lease deed will be retained by the
LESSOR and a certified true copy of the same duly authenticated by the office of the concerned Subregistrar will be provided to the LESSEE.
9.5 DISCHARGE:
Upon any termination of this Lease and handing over the Demised Premises to the LESSOR and
repayment in full by the LESSOR of all monies due and owing to the LESSEE(including but not limited to
the Security Deposit after adjustments of any dues), the LESSOR and the LESSEE shall be released from
all obligations and liabilities to the other occurring or arising after the date of such termination and
handing over the Demised Premises, provided that no such termination will relieve either Party from any
liability arising from any breach of the obligations or covenants under this Lease termination. Any
provision of this Lease Deed, which is expressly or by implication to continue in force after termination,
shall continue in full force and effect.
ARTICLE 10
WAIVER
That any express or implied waiver by the LESSOR of any default shall not constitute a waiver of any
other default by the LESSEE or a waiver of any of the LESSOR’s rights.
ARTICLE 11
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APPLICABLE LAW AND JURISDICTION
11.1
That this Lease Deed shall be construed and the legal relations between the Parties hereto shall
be determined and governed according to the laws of India.
11.2
That the Civil Courts at Gurgaon Haryana alone shall have jurisdiction in all matters arising out of
and/or concerning this transaction.
ARTICLE 12
ARBITRATION
That all disputes, differences or disagreement arising out of, in connection with or in relation to this
lease deed which cannot be amicably settled, shall be finally decided by a penal of 3 (three) arbitrators.
Both parties shall have a right to appoint 1 (One) arbitrator each and both the Arbitrators shall appoint
third arbitrator with the mutual consent who shall be Chairman of the panel. And the said arbitration
proceeding shall be conducted in accordance with the provisions of the Arbitration and Conciliation Act,
1996(as amended), and the decision of panel of Arbitrators shall be final and biding on the parties.
That the venue of arbitration shall be Gurgaon / New Delhi and the language of arbitration shall be
English and the Award shall be rendered in the English Language.
ARTICLE 13
NO PARTNERSHIP/AGENCY
That nothing in this Lease Deed shall be construed as creating a partnership or joint venture between
the LESSOR and the LESSEE. Neither party will be deemed to be an agent of the other party as a result of
any act under or related to this lease deed, and will not in any way pledge the other Party's credit or
incur any obligation on behalf of the other Party.
ARTICLE 14
SEVERABILITY
That in the event of any or more of the provisions contained in this Lease Deed, being waived, modified
or altered, none of the other provisions hereof shall in any way be affected or impaired thereby. If any
of the provisions of this Lease Deed becomes invalid, illegal or unenforceable in any respect under any
applicable law, the validity, legality and enforceability of the remaining provisions shall not in any way
be affected or impaired. If any, provisions of this Agreement become invalid; the Parties agree to
substitute a new provision, which serves the purpose of the invalid provision to the furthest possible
extent.
ARTICLE 15
ADDRESS FOR COMMUNICATION AND NOTICES
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That the LESSEE is getting its complete address for correspondence noted herein below at the time of
executing this Lease Deed and all communication/ notices/ correspondence sent to the Parties
respectively on their below mentioned addresses by way of reputed courier or Speed Post/ Registered
Post, with acknowledgement, shall be deemed to be validly served on them:
In case of the LESSOR
In case of the LESSEE
Mr.____________S/o __________,
House no-_________________,
_________________________,
_________________________,
Mr._________________- Proprietor
Add:___________________________,
___________________, ___________
_______________________________,
That It shall be the responsibility of the LESSEE to inform the LESSOR about subsequent changes, if any,
in its address and obtain confirmation thereof in writing from the LESSOR, failing which, all demand
notices and letters posted at the address mentioned above will be deemed to have been received by the
LESSEE within the time ordinarily taken by such communication and the LESSEE shall be responsible for
any default in payment and/or other consequences that might follow there from.
That In case there are joint LESSEE(s), all communication shall be sent by the LESSOR to the LESSEE
whose name appears first and at the address given by it and which shall for all intents and purposes be
deemed to have been served on all the LESSEE(s) and no separate communications shall be necessary to
the other named LESSEE.
IN WITNESS WHEREOF, THE PARTIES HERETO HAVE SET THEIR HANDS HERETO ONTHE DAY, MONTH &
YEAR FIRST ABOVE WRITTEN IN THE PRESENCE OF THEFOLLOWING WITNESSES:
WITNESSESS:
LESSEE
1.
LESSOR
2.
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