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AND
WHEREAS:-
d) At the request of the Licensee, the Licensor has agreed to grant the
Leave and License of the Licensed Premises to the Licensee for the
temporary use and occupation of the Licensed Premises during the
License Period on the terms and conditions mutually agreed upon
by the Parties as set out herein below.
The recitals set forth hereinabove are hereby incorporated into and shall
form an integral and operative part of this Agreement.
8. LOCK-IN PERIOD – The first six months of the license period shall be
known as the Lock-In Period and if the Licensee vacates the said
Licensed Premises during the said period, he shall have to pay the
royalty / license fees for the six (6) months to the Licensor.
Either Party may terminate this Agreement by giving thirty (30) days
prior written notice (hereinafter referred to as “Notice Period”) to the
other Party without assigning any reason whatsoever. The Licensor
shall be entitled to terminate this Agreement on occurrences of the
following circumstances (hereinafter referred to as “Events of
Default”):-
i. If the Licensee used the Licensed Premises for any unlawful activity
or for carrying on a business other than the Business defined
herein;
ii. The License Fees for any particular month remaining outstanding
for more than three (3) months or (90) ninety days.
iii. Any breach of or non – compliance with any covenants, obligations,
duties etc of the Licensee under this Agreement notwithstanding
anything contained in this Agreement.
10. MAINTENANCE OF THE PREMISE - The Licensee shall keep the said
Room in good condition and shall not cause any damage thereto and
shall not create any nuisance or annoyance to the people or store any
hazardous goods in the said Room. The Licensee shall maintain the said
Room in its existing condition and damage if any, caused to the said
premise the same shall be repaired by the Licensee at its own cost
subject to normal wear and tear or the Licensor shall have the right to
deduct the estimated expense amount from the refundable deposit.
_____________
In the presence of
1.
2.
___________________
In the presence of
1.
2.
RECEIPT
(LICENSOR).
WITNESSES :
1.
2.