AGREEMENT by lonyoo

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									                                      AGREEMENT

THIS AGREEMENT made this ___________ day of _____________, between Mr./Ms./M/s.
________________________________________ individual / company having its address at
___________________________________________________________________________
___________________________________________________________________________
(herein, called the “Lessor”) of the One part and “SHREE OM SAI NATH CAR ON RENT
LIMITED” a company registered under Companies Act (Incorporation No.: CIN U63 040
MH2006 PLC 162892) having its address at 14, Avon Apartment, Chhatrapati Shivaji Road,
Dahanukar Wadi, Kandivali (W), Mumbai 400 067 (hereinafter called the “Lessee”) of the
OTHER PART carrying on, the business of Travel Agents, vehicle booking agents, providing
/ running vehicles on contract/hire basis to the corporate's / M.N.C's / Hotels and direct or
indirect passengers / National / International tourists, all over India, constructing/running of
Hotels /Motels and Resorts all over India in order to facilitate International /National Tourists
and passengers.

                NOW THIS INDENTURE WITNESSTH THE FOLLOWS

In consideration of the contract hereby reserved and the other terms and conditions,
covenants and agreement herein contained and on the part of the Lessee to be observed and
performed, the Lessee hereby agrees to take on contract from Lessor, motor vehicle or
margin amount towards purchase of motor vehicle in order to facilitate the purchase of
required vehicle, subject to the terms and conditions with Annexure as described herein
below.

Period of contract : Contract stands valid for 60 months.

 1.   Terms          of   :   Monthly contract charges of Rs. ____________ per vehicle
      payment                 subject to the deductions as per the prevailing laws on or
                              before the 10th day of each calendar month, first of such
                              contract amount shall be paid on the _____ day of __________
                              and the subsequent contract amount to be paid on or before
                              10th of every succeeding month regularly, during the validity
                              of the agreement. If the Lessee making any default in payment
                              for subsequent three months from the date of payment the
                              Lessee will pay the interest at the rate of 12% per annum on
                              default amount till payment.
                                                                                  Cont…2/-
                                                 :2:

 2.   E.M.I.         of   :   To be paid by the Lessee during the validity of the agreement
      vehicle                 as per the loan schedule letter of Financier Bank along with
                              monthly contract amount and in turn the Lessor is bound to
                              make the E.M.I. payment to the Financier bank/Institution.

 3.   Insurance           :   To be paid by the Lessee during the validity of the agreement
                              for the remaining period of 4 years.

 4.   Government &        :   To be paid by the Lessee during the validity of the agreement
      R.T.O. Taxes            according to the prevailing rate at the time of execution of
                              agreement.

 5.   Inspection          :   The Lessor is entitled to inspect the vehicle given on contract
                              once in a year from the date of purchase of vehicle in the name
                               of lessor at their own cost by giving 15 days prior notice to the
                               above stated address in writing and company may arrange, in
                               case the vehicle is free for inspection without any duty.

 6.     Maintenance        :   It shall be responsibility of the Lessee for the proper
                               maintenance and upkeep of the vehicle during the validity of
                               the agreement.

 7.     Fuel               :   It shall be responsibility of the Lessee to provide fuel and
                               engine oil for running the vehicle during the validity of the
                               agreement.

 8.     Driver             :   It shall be responsibility of the Lessee to engage the services of
                               properly licensed driver and to make payment of all statutory
                               and other dues to them during the validity of the agreement.

 9      Buy Back           :   The Lessee will have the option at the sole discretion of the
                               Lessor/registered owner to purchase the vehicle at a fair
                               market value upon mutual consent after expiry of the
                               agreement, however, this buy back clause does not be
                               constructed to be conferring any enforceable right on the
                               Lessee but the first option to buy the vehicle shall be that of
                               the Lessee herein.

 10     Theft/Accident     :   Upon intimation by the Lessee, the Lessor / registered owner
        /Loss Claim            will initiate claim with the insurance company, in the event of
                               accident / damage and the necessary documents would be
                               provided by the Lessor. If any of the eventualities as stated in
                               this clause occurs, the Lessor shall not be entitled to receive
                               from the lessee the monthly contract charges. In the event of
                               the total loss / damage / theft the entire insurance will be
                               received and retained by the registered owner / financier as per
                               the rules and regulations of the Insurance company and the
                               Lessor is bounded to make payment of E.M.I. to the bank from
                               such date forthwith.

 11.    Completion of          Upon successful completion of the terms and conditions of this
        Contract               agreement, the Lessee shall return the contracted vehicle in
                               proper working condition, subject to the normal wear and tear
                               happened depending on the period of use, only in case of
                               purchase of vehicle in the name of lessor.

 12     Agreement          :   The Lessee under this agreement is fully authorised to sub
        binding on             contract the said vehicle to any third party and the Lessor shall
                               not raise any objection, for legitimate business of tourist
                               purpose. In the event of objection raised by the Lessor will
                               result in immediate termination of contract without any
                               compensation or refund in lieu of.

                                                                                       Cont…3/-
                                               :3:



                                   LESSEES COVENANTS

Without prejudice to the above terms and conditions and requirements on the part of the
Lessee, hereby further covenants with the Lessor to :

1.     To take the delivery of the vehicle and sign the delivery acceptance certificate on behalf
       of the Lessor, for which the Lessor will not be entitled to raise any objections what-so
       ever about the delivery and condition of the vehicle.

2.     Pay the contract amount as stipulated in the agreement.
3.   Use the vehicle for its bonafide business purpose only and not for unlawful or illegal
     activities and in such event the Lessee is solely responsible for the legal and other
     consequences thereof.

4.   Keep the vehicle in good working condition and to operate the vehicle in a skillful and
     proper manner and by persons who are competent to operate the vehicle.

5.   Not to make additions or alterations to the vehicle without the written consent of the
     Lessor.

6.   Not to transfer or assign, mortgage, charge, encumber, sell or otherwise dispose of the
     vehicle or any interest therein not to create nor allow to be created any lien on the
     vehicle whether for repairs or otherwise and in the event of breach of the clause by the
     Lessee, the Lessor shall be entitled (but shall not be bound) to pay to any third party
     such sum as is necessary to procure the release of the vehicle from any charge,
     encumbrance or lien and there upon make a demand on the Lessee for reimbursement
     of the amount paid by him and Lessee shall pay the same forthwith. The Lessee
     however shall be entitled to sub-rent / sub-lease the vehicle herein procured, without
     creating any of the rights herein above stated in favour of any third party, any
     rights/liabilities so created will be of civil nature alone.

7.   Not to claim any relief by way of deductions or allowance under the income tax act or
     any other statue rules or regulations available to the Lessor and not to do or omit to be
     done any act deed or things where by the Lessor is deprived to claim relief by way of
     deduction of allowance as the owner of the vehicle under the income tax act and the
     Lessee shall furnish to the Lessor such information as it may require to claim relief or
     allowance and to comply with all terms and conditions to be complied with or observe
     in respect of the use of operation of the vehicle to entitle the Lessor to obtain such
     relief.

8.   Permit the Lessor to terminate the agreement forthwith and to take possession of the
     vehicle let out on lease/hire from the Lessee in the event of determined failure or
     default by the Lessee of any of the terms and conditions of this agreement.

9.   The Lessee reserves the right of amendments in the clauses of the agreement mentioned
     herein above with giving prior intimation to the Lessor in writing.

                                 LESSOR'S COVENANTS

Without prejudice to the above terms and conditions and requirements on the part of the
Lessor, hereby further covenants with the Lessee to :

1.   Lessor will not interfere with the Lessee's day to day affairs of legitimate business.

2.   Lessor will not compete or get involved with the other company in order to compete
     directly or indirectly with the business of the Lessee, during the validity of the
     agreement failing which will be considered as the breach of trust and will result in the
     immediate termination of the agreement without any compensation or refund and over
     an above an amount of compensation will be charged for doing so at the sole discretion
     of the management of Lessee.

3.   Lessor to keep dignity of the office of the Lessee during the validity of the agreement
     for the proper relation between the Lessor and Lessee. The Lessor will extend the co-
     operation to the Lessee, due to their polished business nature.
                                                                                   Cont…4/-
                                              :4:

4.   The communication sent by the Lessee through registered AD/ Courier / Hand delivery
     to the address given by the Lessor will be deemed to be received by the Lessor, Any
     change in the address of Lessor should be intimated properly to the Lessee
     immediately.

5.   The down payment made for the vehicle by the Lessor is mutually agreed and as per the
     scheme given to him/her, which may be utilized for arranging his/her vehicle on road,
     the Lessee will act as facilitator for arranging vehicle loan from the reputed
          financier/Institution depending upon the documents furnished by Lessor, and at the sole
          discretion of the financier Bank / Institution. The Lessee under no circumstances to be
          held responsible for non-sanctioning of loan by the financier Bank / Institution, the
          Lessee will only act as co-ordinator for processing the loan. In case the loan is
          sanctioned in the name of the Lessor, the Lessor will not be entitled to claim any
          benefits / discounts or any other special gifts of any case or type or special
          scheme/discounts availed by the Lessee against the purchase of the vehicle and all the
          benefit of any type will be enjoyed by the lessee on account of facilitating the Lessor
          under the scheme given to him/her for the entire period of five years.

    6.    In case the loan is not sanctioned by the financier bank / Institution on the papers
          provided by the Lessor within the period of six months from the date of signining the
          agreement, the Lessor will have the option of cancellation on the agreed terms and
          conditions subject to the returning of the contract amount availed by him per month as
          advance to retain the business relations and alongwith cancellation fee of 3% on the
          scheme price, or will have to purchase the membership of the Resorts / Hotels / Motels
          of the Lessee located all over India and abroad, existing or in future projects for which
          the lessor provide consent to the membership herewith and will abide by the terms and
          conditions of the shree resort (membership), it is also understood that if the Lessor does
          not change the agreement with the company, it is deemed to be changed and he/she will
          be governed by the new terms and conditions of Shree Resort (membership) without
          any objection of whatsoever nature.

    7.    The Lessor will not object on the purchase of vehicle of different model other than the
          model booked by the Lessor, as it will be purchased as per the requirements of the
          Lessee and as per the orders/requirement of vehicles received from the parties or as per
          the market requirements of tourist business.

    8.    The Lessor will not object for the use of vehicle any where in India at any of the
          branches of the Lessee.
                                        ARBITRATION:

    In case any dispute shall arise between the Lessee and the Lessor or any one on their behalf
    during continuance of this indenture or on completion or on premature cancellation thereof,
    as to the construction of this indenture or any question arising there under the same shall be
    referred to a arbitrator to be appointed by the second party of their own choice. After making
    such enquiries as he/she may think proper and his/her decision shall be binding upon both the
    parties hereto.
                                           JURISDICTION :

    In case of any dispute arises, the competent Court at Mumbai shall have the exclusive
    jurisdiction. Mr./Ms./M/s._________________________________________ further state
    that I/We have read and understood all the terms and conditions herein above mentioned in
    English and understood in our mother tongue and will strictly be bounded by the terms and
    conditions of the company as amended from time to time. IN WITNESS WHEREOF, The
    Lessor here to has caused these presents to be signed on its behalf by its authorized official
    and the Lessee has signed these presents by its duly authorized official on the day and year
    first above written.



Signed sealed and delivered by the within named
“Lessor”
By the hands of its authorized signatory Mr. /Ms/
M/s. __________________________________
In the presence of ________________________
                                                                        LESSOR
Signed sealed and delivered by the within named For Shree Om Sai Nath Car On Rent Limited
“Lessee” SHREE OMSAI NATH CAR ON
RENT LIMITED” in the presence of

_______________________________                                                 Authorised Signatory

								
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