This Lease Agreement (“Agreement”) is made and entered into on this __________ day of ______, 20, (the “Effective Date”) between [Lessor Name], a company incorporated under the laws of India, having its registered office at [Lessor Address] (hereinafter referred to as the “Lessor”), and [Lessee Name], a company incorporated under the laws of India, having its registered office at [Lessee Address] (hereinafter referred to as the “Lessee”).
WHEREAS, the Lessor is the owner of certain premises located at [Premises Address] (hereinafter referred to as the “Premises”);
WHEREAS, the Lessee desires to lease the Premises from the Lessor, and the Lessor is willing to lease the same, subject to the terms and conditions set forth in this Agreement;
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Lessor and the Lessee (collectively referred to as the “Parties”) agree as follows:
1. Lease Term
1.1 The term of this lease shall be for a period of [Number] years, commencing on the Effective Date, unless terminated earlier in accordance with the provisions herein.
1.2 The Lessee shall have the option to renew this lease for additional terms of [Number] years each, subject to the Lessor’s consent and the terms and conditions to be mutually agreed upon by the Parties.
2. Premises Description and Use
2.1 The Lessor hereby leases to the Lessee, and the Lessee hereby rents from the Lessor, the Premises described as [Description of Premises], including all fixtures, fittings, and improvements therein.
2.2 The Lessee shall use the Premises solely for the purpose of [Intended Use] and shall not use or permit the Premises to be used for any other purpose without the prior written consent of the Lessor.
3. Rent and Security Deposit
3.1 The Lessee shall pay to the Lessor a monthly rent of [Amount] (the “Rent”), payable in advance on or before the [Date] of each month.
3.2 The Lessee shall provide the Lessor with a security deposit in the amount of [Amount] (the “Security Deposit”) upon the execution of this Agreement. The Security Deposit shall be refunded to the Lessee within [Number] days of the termination of this lease, subject to any deductions for damages, outstanding rent, or other liabilities.
4. Maintenance and Repairs
4.1 The Lessor shall be responsible for the structural maintenance and repairs of the Premises, including the roof, walls, and foundation.
4.2 The Lessee shall be responsible for the interior maintenance and repairs, including any damages caused by its use or negligence, and shall promptly notify the Lessor of any required repairs or maintenance.
5. Utilities and Operating Expenses
5.1 The Lessee shall be responsible for all utilities and operating expenses related to the Premises, including electricity, water, sewerage, and maintenance fees, unless otherwise specified in writing by the Lessor.
6.1 Either Party may terminate this lease upon [Number] days’ written notice to the other Party in the event of a material breach by the other Party, subject to the cure provisions set forth herein.
6.2 Upon termination of this lease, the Lessee shall vacate the Premises and return them to the Lessor in the same condition as at the commencement of this lease, except for reasonable wear and tear.
7. Governing Law and Jurisdiction
7.1 This Agreement shall be governed by and construed in accordance with the laws of India.
7.2 Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts located in [City], India.
8. Entire Agreement
8.1 This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and understandings, whether oral or written.
IN WITNESS WHEREOF, the Parties hereto have executed this Lease Agreement as of the Effective Date first above written.