Leave and License Agreement for Company’s Officers

Leave and License Agreement for Company’s Officers

This agreement is made this ………………. 2000 between Mr. AB having his office at …………………………. (hereinafter referred to as the LICENSOR which term shall include his successors and assigns) of the one part and CD Co. Limited, a company registered under the Companies Act 1956 and carrying on business at…………………………………..  (hereinafter referred to as the LICENSEE which  term shall include its successors and permitted assignees) of the other part.

WHEREAS the LICENSOR is the owner of the premises No. …… of .…………… wherein he resides on the ground floor and has an office on the first floor.

And WHEREAS the LICENSEE approached the LICENSOR for a temporary accommodation for its officers on the first floor of the said premises and is agreeable to take on leave and licence basis the first floor flat excluding office portion therein.

And WHEREAS the LICENSOR has agreed to grant on leave and license basis use of the first floor flat having an area of 1000 sq. ft. floor area excluding the area occupied by the office of the LICENSOR.

And WHEREAS the LICENSEE has inspected the said flat complete with all amenities and has satisfied itself as to its suitability for the occupation of its officers for a temporary accommodation.

Now these presents witnesseth and the parties hereby agree as follows:

1. The LICENSOR hereby allows on leave and license basis the use of the first floor flat by officers of the LICENSEE for a period of two years for residential purpose.

2. The LICENSEE agrees that at a time not more than one of its officers with family members may occupy or reside in the said flat.

3. The LICENSEE shall pay to the LICENSOR a sum of Rs. 5,000 per month as license fee or compensation for occupation of the said flat payable in advance by the 10th of each month.

4. The LICENSOR will continue to have his office on the first floor as usual and shall have a duplicate key of the main door of the first floor for free ingress to and egress from the said office on first floor.

5. All municipal taxes, rates and other levies in respect of the said flat would be paid by the LICENSOR.

6. All internal and external repairs shall be carried out by the LICENSOR once a year.

7. There will be separate electric meters and water meters for the first floor and the LICENSEE would pay electric charges and water charges consumed by the LICENSEE.

8. The LICENSOR would pay electric charges for the electricity consumed by him for his office on the first floor.

9. The LICENSEE shall not be entitled to transfer the license to any other person or allow any person to occupy the said flat except by an officer of the LICENSEE.

10. The LICENSOR shall have the right to enter into and inspect the portion of the first floor flat given to LICENSEE on leave and license basis.

11. The LICENSEE shall not cause any damage to the premises or

cause any nuisance or annoyance to the neighbouring people or store any hazardous goods or do anything which would jeopardise safety of premises or people.

12. On breach of any of the terms of this agreement the LICENSOR will be entitled to terminate this license by giving 10 days’ notice.

13. The LICENSEE undertakes to vacate the licensed premises on expiry of two years or earlier determination of the license.

14. The LICENSEE undertakes that if the services of the officer occupying the licensed premises is terminated then the LICENSEE should get the flat vacated by the officer immediately.

15. It is agreed that by these presents the LICENSEE does not acquire any right, title or interest in the said first floor flat in any manner whatsoever and would occupy the said flat during the currency of this agreement as a mere LICENSEE.

In witness whereof the parties have executed these presents on the day, month and year first above-written.

Signed, sealed and delivered by Mr. …………………..……………… pursuant to Board Resolution dated ……..……. of CD Co. Limited

in the presence of:                                                                     Signature

1.

2.

Signed and delivered by Mr. AB

in the presence of:                                                                     Signature

1.

2.