Leave and License Agreement
THIS AGRREMENT is made at _______________ on this day of _________________
Mr._________________________________aged____years residing at ______ ____________________
______________ hereinafter referred to as the Licensor (Which expression shall unless repugnant to the
context or meaning thereof shall mean and include his heirs, legal successors, representatives, agents,
executor and assignees), party of the First Part.
____________________________________________., a company registered/ incorporated under the
Companies Act, 1956 and having its registered office at _______________________________________
represented herein by its ______________Mr. ________________duly authorized vide resolution dated
________ passed during the Board of Directors meetings, hereinafter referred to as the ‘Licensee’ (with
expression shall, unless repugnant to the meaning thereof, shall mean and includes its legal successors,
representatives, agents, executor, and assignees), Party of the Second Part.
WHERE AS the Licensor is the owner of and in possession of the premises i.e. ________________
(hereinafter referred to as the ‘demised premises’) within the limit of the Vadodara Mahanagar Seva Sadan.
AND WHEREAS the Licensee is in need of suitable office premises in Baroda for carrying on its equities
related business. It came to know about the intention of the Licensor and hence Licensee has requested the
Licensor to give the demised premises on Leave and License bases initially for a period of _____ ( )
i.e. from ___________ to _____________ (Unless otherwise specifically terminated under any other clause of
And WHEREAS, the Licensee has made it absolutely clear to the Licensor, that was not interested in getting
tenancy rights or lease hold rights in the said premises, but it was specifically and only interested in getting
permission to use and occupy the said office in possession of the Licensor for a period agreed to under this
And WHEREAS, the parties here have worked out the Terms and Conditions of the Leave and License
agreement and have decided to put the same in writing.
NOW THIS INDENTURE WINESSETH AND IT IS HEREBY MUTUALLY AGREED BY AND
BETWEEN THE PARTIES AS FOLLOWS:
1. The Licensor hereby grants license in favour of the Licensee for the office premises bearing
________________________________for use as their office for a term of _______ only commencing
from ___________________ and ending on________________.
2. The Licensee shall pay to the Licensor the License fee of Rs. ________/- (Rupees _____________
Only) per Month Including Society Maintenance Charges and Excluding Municipal Taxes. The
Payment shall be made on or before the 5th of the every month.
3. The Licensee shall pay monthly Maintenance charges and charges or fees for installing or setting up a
tower or antenna for their commercial purpose as fixed by the _______________________ from time
4. The Licensee shall deposit Rs._______/- (Rupees ____________ Only) with the LICENSOR by way
of interest free SECURITY DEPOSIT. The said amount shall not carry interest and shall be refundable
to the Licensee immediately at the time of vacating these demised premises. The Licensor hereby
confirms and acknowledges having received the security deposit and premises to refund the same.
5. That presently there are electricity meters and connections in the name of Licensor and Licensor
hereby grants the permission to the Licensee to use the said facilities. However, the Licensee therefore
shall pay all Electricity bills and incidental amount pertaining to office payable as user only further
Licensee shall pay any water bill raised by Vadodara Mahanagar Palika. In case of default Licensee is
responsible to pay all outstanding amounts in respective department.
6. That the Licensee shall use and enjoy the office premises in such a manner as not to cause any damage
or loss, if damages are caused, then the Licensor shall be entitled to terminate the License without
issuing any prior notice.
7. That possession of the office premises has been delivered by the Licensor to the Licenses at the time
of execution of these presents and TO HAVE AND TO HOLD the same as Licensee during the license
period of _______ only. The Licensee shall handover vacant and peaceful possession of the said
premises, unconditionally after expiry of the license period to the Licensor. This is essence of this
8. That on expiry of the License period the Licensee shall deliver back the possession of the premises to
the Licensor by removing and taking away all it’s belonging in the said premises. Any and all damages
shall be repaired by the Licensee to bring back said premises to original condition at its own cost,
normal wear and tear should be acceptable.
9. That the Licensee shall not assign, let/sub-let, part with possession of the entire premises or any part
there is strictly prohibited. Further in event of such an assignment to its subsidiaries. The agreement
shall be terminated with immediate effect and license shall require vacating the premises. Further, the
licensee is strictly prohibited to create the third party interest in the said premises.
That the Licensee shall not make structural change and renovate whole or part of said premises
without written consent of Licensor wherever suitably fit.
10. That it is expressly agreed between the parties that the Licensee shall keep the premises good and
habitable condition, and agrees that the Licensor shall have the right to enter and visit the said
premises during business hours for the purpose of inspection.
11. That if the Licensee commits any default in payments of license fees and/or such other payments
stated above or cause breach of any of the obligations under there presents then the Licensor shall
serve a notice, mentioning specific breach/ breaches/ defaults. The Licensee shall be given 30(thirty)
days to correct and rectify these shortcomings failing which the Licensor shall be entitled to terminate
this agreement forthwith.
12. This agreement can be terminated by giving 30 days prior notice by either party. (except as agreed in
clause of this agreement.)
13. The Licensor shall issue necessary letter permitting the LICENSEE to apply for the various statutory
registration like Shop License, Sales Tax etc..
14. The Licensee shall not be deemed to be in the exclusive occupation of the licensed premises and the
Licensor will have right to enter upon the premises at any time during working hour to inspect the
15. The Licensee shall not cause any nuisance or annoyance to the ______________________or
neighborhood of the premises and shall not use hazardous goods in the premises.
16. On the expiation of the said term or period of the License or earlier termination thereof, the Licensee
shall handover vacant and peaceful possession of the licensed premises to the Licensor in the same
condition in which the premises now exit subject to normal wear and tear. The Licensee’s occupation
of the premises after such termination will be deemed to be that of trespasser.
17. If the premises vacated by Licensee before 6 months than 1 month rent will be deducted from deposit
as a brokerage amount.
18. In case of any dispute arose between the parties they will approach the arbitrator to solve the disputes.
IN WITNESSTH WHEREOF, the parties hereto have put their hands the day and year first herein