“Term Sheet”

Leave and License Agreement of Office

Located at

 

5th FLOOR, BUSINESS PLAZA, 36/3 B THE WESTIN, KOREGAON PARK ANNEXE, MUNDHWA RD., GHORPADI, PUNE - 411001, MAHARASHTRA

     

1	Premises available for Leave and License	On 5th Floor admeasuring 7,932 sq ft chargeable area at Business Plaza, Koregaon Park Annexe. Pune.
2	License Fees per month	Rs110 /- per month per sq. ft. (exclusive of GST and/or other levy/duty, if any) calculated on the chargeable area.
3	Interest Free Refundable Security Deposit	Licensee shall deposit Interest Free Refundable Security Deposit equivalent to 8 (Eight) months of license fee amounting to Rs.69,80,160/- which will be paid by the Licensee to the Licensor on or before execution of the Leave & License Agreement. The interest free refundable security deposit at all times shall have to be maintained by the licensee equivalent to 8 months of license fee. The licensee shall accordingly forthwith pay the proportionate increased amount to the licensor towards the interest free refundable security deposit upon increase of license fee.
4	Escalation in License Fee	5.00% every year on the last existing license fee.
5	Tax/Duty/Levy on License Fee	Goods and Services Tax (GST) and all other applicable Taxes/Duties/Levy, if any, shall be borne and paid by the Licensee.
6	License Period	10 years from the date of execution of the agreement including the license fee free fit out period of 30 days.
7	Lock In Period	3 years Lock-in applicable to the Licensee during the License term.
8	Area (Approx)	7,932 Sq. Ft of Chargeable area.( carpet – 5288 sq. ft.)
9	License Fee Free Period (Fitment Period)	NIL
10	License Fee  Payment	The License Fee shall become due One (1) month in advance and payable by 1st of every month for which the license fee is payable. Any delay shall attract interest @18% per annum till date of payment.
11	Common Area Maintenance Charges	Rs. 59,490/- per month calculated at the rate of Rs. 7.50 per sq. ft. on the chargeable area (exclusive of GST and/or other duty/levy) with escalation of 5% every year, which shall be subject to increase of the common area maintenance charges applicable to all occupants of Business Plaza and the Licensee proportionately. Any delay shall attract interest @18% per annum till date of payment.
12	Stamp Duty & Registration Charges etc.	To be borne by Licensee alone
13	Telephone/Electricty/Other Utility	To be borne by Licensee
14	Property/Corporation Tax/Municipal Tax etc.	To be borne by Licensor
15	Car park	8 car parking slot @ Rs. 4000/- per carpark per month
16	Two Wheeler	Two wheeler parking slots on First-come-first-served basis available in common parking area.
17	State of Premises	With fit-outs
18	Power Connection	Licensor will provide (single meter) Power at site.
19	Access/Usage of the Licensed Premises	Licensee shall have unlimited access to the Premises 24 hours and 7 days of the week (subject to rules and statutory laws) and during the subsistence of the Leave and License Agreement the premises shall be used for all legitimate business activities. The chiller based air conditioning of the property shall be provided for 12 hours i.e. from 8 am to 8 pm. For specific areas like control room, studios, etc where 24 X 7 air conditioning is required, the Licensee will make their necessary arrangements.
20	Brokerage/Commission	One month

 

• This LOI shall stand superseded upon execution and registration of the Leave and License Agreement.
• The licensee should enter into binding leave and license agreement within 7 days of the execution of the term sheet, failing which this term sheet shall automatically stand null and void.
• The terms agreed upon here-under and other terms and conditions shall be as per leave and license agreement.

 

The above terms are final and binding on the parties and these terms will be incorporated in the binding Leave and License agreement.

 

We hereby confirm to have read, understood, and agreed to the terms and conditions stated in this Letter of Intent:

 

FOR LICENSOR	FOR LICENSEE
Signature :	Signature :
Rep By :	Rep By :

 

Date:

Place: