Sub-Lease Agreement for Commercial Property

SUBLEASE DEED

This Sublease deed ("Deed") is made at ________, Andaman and Nicobar Islands on ________:

BY AND BETWEEN

________ residing at the following address: ________ (hereinafter referred to as "Sub Lessor" which expression shall mean and include its legal heirs, administrators and permitted assigns) of the FIRST PART

AND

________ residing at the following address: ________ (hereinafter referred to as "Sub Lessee" which expression shall mean and include its legal heirs, administrators and permitted assigns) of the SECOND PART

(Sub Lessor and Sub Lessee are hereinafter individually referred to as "Party" and collectively as "Parties")

WHEREAS:

A. By a Deed of Lease ("Lease") dated ________ entered into by and between Sub Lessor and ________ (Individual) ("Original Lessor"/"Property Owner") and registered at the office of the Sub-Registrar at ________ on ________ under Serial No: ________, the Lessor demised the below-mentioned property onto the Sub Lessor, for a term of ________, on and subject to the covenants, terms, and conditions therein mentioned.

B. The Lease is still valid and subsisting.

C. The Sub Lessor is in physical possession of the property located at:

________

(hereinafter called the "Leased Premises") along with the existing fixtures and fittings listed in Annexure to this Deed.

D. Sub Lessee approached the Sub Lessor for grant of Sublease in respect of the Leased Premises and the Sub Lessor has agreed to Sublease the same to the Sub Lessee.

E. The Sub Lessor and the Sub Lessee are now desirous of executing this Deed to record the terms and conditions governing Sublease of the Leased Premises as set forth hereinafter and are subject to the original Lease.

NOW THEREFORE THIS DEED WITNESSETH AND IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER:

1. INTERPRETATION

In this Deed, unless the context otherwise requires, the following rules of interpretation shall apply:

(a) Words referring to one gender include every other gender.

(b) Words referring to a singular number include the plural, and words referring to a plural include the singular.

(c) Words referring to a person or persons include companies, firms, corporations, organizations, and vice versa.

(d) Headings and titles are included in this Deed for convenience only and shall not affect the interpretation of this Deed.

(e) Each Party must, at its own expense, take all reasonable steps and do all that is reasonably necessary to give full effect to this Deed and the events contemplated by it.

(f) Any obligation on a Party not to do something includes an obligation not to allow that thing to be done.

2. GRANT OF SUBLEASE

(a) The Sub Lessor in consideration of rent hereby reserved, subleases the Leased Premises to the Sub Lessee along with the existing fixtures and fittings, which are listed in Annexure to this Deed, and that the Sub Lessee shall be entitled to peacefully possess and enjoy possession of the Leased Premises, and the other rights granted herein.

3. PURPOSE

(a) The Sub Lessee shall use the Leased Premises only for the following purpose:

________

(b) The Leased Premises shall be exclusively used by the Sub Lessee. The Leased Premises shall not be used for any purposes other than as specified above. The Sub Lessee shall not use the Leased Premises for any unlawful purposes and shall forthwith notify the Sub Lessor if it becomes aware of any illegal activities being conducted on the Leased Premises. The Sub Lessee will not store or allow to be stored on the Leased Premises any objectionable items prohibited by any law in force during the Lease Period.

4. SUBLEASE RENT

(a) The Sub Lessee has agreed to pay the rent of Rs. ________ (________) in advance on or before 1st (first) day of of each calendar month via the following mode of payment: account payee cheque.

(b) In the event of delay in the payment of rent by the Sub Lessee, interest at the rate of ________ % (________ percent) per month shall be payable on the entire outstanding amount from the due date till the actual date of payment.

(c) It is hereby agreed that if a default is made in payment of rent by the Sub Lessee for the period of ________ (________) consecutive months, the Sub Lessor shall be entitled, in addition to other rights and remedies available to the Sub Lessor under this Deed and applicable laws, at its sole discretion to terminate the Sublease granted under this Deed and to take possession of the Leased Premises thereof without regard to the time elapsed.

(d) Provided, however, a notice in writing shall be given by the Sub Lessor to the Sub Lessee of his intention to terminate the Sublease and to take possession of the Leased Premises. In the event the Sub Lessee pays the arrears of rent within a period of ________ (________) days from the issue of the notice by the Sub Lessor, the Sub Lessor shall not be entitled to terminate the Sublease of the Leased Premises. However, if the arrears of rent are not paid by the Sub Lessee, within a period of ________ (________) days from the issue of the notice by the Sub Lessor, the Sublease shall stand automatically terminated with no further acts required on part of the Sub Lessor.

5. TERM OF THE SUBLEASE

(a) The Sublease of the Leased Premises shall commence on ________ and shall continue for a period of ________ (________) months ("Lease Period") unless terminated earlier in accordance with the terms hereof.

(b) Upon expiry of the Lease Period, the Sublease shall be renewable on the same terms and conditions provided a request for renewal is made by the Sub Lessee ________ (________) months before expiry of the Lease Period. If no notice of renewal is issued by the Sub Lessee, the Sublease shall terminate upon expiry of the Lease Period.

6. SUBLEASE, ASSIGNMENT

(a) The Sub Lessee shall not further sublet, assign, or otherwise part with the possession of the Leased Premises either in part or in full without the consent in writing of the Sub Lessor. Any assignment, sublease or license without the prior written approval of the Sub Lessor shall be null and void and in such an event the Sub Lessor shall be entitled to terminate the Sublease at its sole discretion.

7. SECURITY DEPOSIT

(a) The Sub Lessee has paid to the Sub Lessor an amount of Rs. ________ (________) as interest free refundable security deposit. The Sub Lessor acknowledges receipt of the security deposit.

(b) The security deposit shall be refunded without any interest simultaneously with the delivery of possession of the Leased Premises by the Sub Lessee to the Sub Lessor upon expiry of the Lease Period or earlier termination of this Deed in accordance with the terms hereof subject to there being no outstanding dues by the Sub Lessee. The Sub Lessor shall be entitled to adjust any outstanding amounts of rent, interest or other charges due from the Sub Lessee and any amounts spent on repairing damages caused to the Leased Premises by the Sub Lessee against the security deposit prior to refunding the same to the Sub Lessee. In the event the amount of security deposit is not sufficient to cover the outstanding amounts due to the Sub Lessor, the Sub Lessee shall be liable to pay all such outstanding amounts within a period of 15 (fifteen) days from receipt of a written demand from the Sub Lessor.

(c) In the event the Sub Lessor assigns all rights under this Deed to a third party ("New Sub Lessor") or the original Lessor, the security deposit shall also be transferred to the New Sub Lessor or Original Lessor and the Sub Lessor shall thereafter not have any liability towards the return of the security deposit to the Sub Lessee.

8. GAS, WATER, ELECTRICITY, AND OTHER UTILITIES

(a) The Sub Lessee shall pay common area and maintenance charges to the common area and maintenance service provider of the building, as applicable. At present, the maintenance charges to be paid are: Rs. ________ (________), the maintenance charges are payable in the following interval: ________.

(b) In the event of any increase in the maintenance charges as specified above, the same shall be borne by the Sub Lessor.

(c) The Sub Lessee shall pay the electricity, water charges and charges for any other utilities at actuals directly to the authorities concerned. The relevant meter readings as of the date of this Deed are attached as an Annexure to this Deed.

9. TELEPHONE, FAX, AND INTERNET

(a) The Sub Lessee shall have the right to apply for, obtain and install telephone, fax, internet, and/or cable lines in the Leased Premises in their own name and at their own cost. The Sub Lessee shall remove the telephone, fax, internet, and/or cable lines obtained and installed by them, as well as pay all dues on the expiry/termination of the Sublease.

10. STRUCTURAL ADDITIONS

(a) The Sub Lessee shall not carry out any structural additions, modifications or alterations to the Leased Premises without the prior written consent of the Sub Lessor. If the Sub Lessor approves the additions, modifications or alterations to the Leased Premises in writing subject to permission from the property owner, and the Sub Lessee intends to use a contractor to carry out the same, such contractor must also be approved in writing by the Sub Lessor prior to commencement of the work.

(b) The Sub Lessee may install and remove its own fittings and fixtures, provided this is done without causing any damage to the Leased Premises. Any such fixtures and fittings may be required to be removed by the Sub Lessor, at its sole discretion, upon vacation of the Leased Premises by the Sub Lessee.

11. COMPLIANCE WITH RULES

(a) The Sub Lessee shall comply with all applicable laws, rules and regulations of the local government authorities in relation to the Leased Premises. The Sub Lessee shall also comply with the rules and regulations of the building association where the Leased Premises is situated.

12. POSSESSION

(a) Sub Lessee shall be handed over possession of the Leased Premises simultaneously with the execution of this Deed (________) provided an amount equivalent to the security deposit and first month's rent has been delivered to the Sub Lessor.

(b) In the event the Sub Lessor is unable to hand over possession of the Leased Premises to the Sub Lessee on the date as specified above, due to any unforeseen circumstances, Sub Lessor shall not be liable for any damages, but Sub Lessee will not be liable to pay rent until possession is given.

13. REPAIRS

(a) The Parties agree that day to day repairs such as fuse blowout, replacement of light bulbs/tubes, leakage of water taps, maintenance of the water pump and other minor repairs, etc., shall be carried out by the Sub Lessee on its own cost, and any major repairs, either structural or to the electrical or water connection, plumbing leaks, water seepage shall be attended to by the Sub Lessor or Lessor. In the event of the Sub Lessor or Lessor failing to carry out the repairs on receiving notice from the Sub Lessee, the Sub Lessee shall undertake the necessary repairs and the Sub Lessor will be liable to reimburse costs incurred by the Sub Lessee within a period of ________ (________) day.

14. INSPECTION

(a) The Sub Lessor or Lessor and/or its authorized personnel shall have the right to enter upon and inspect the Leased Premises or any part thereof with prior written notice of ________ at any time during the following hours: ________.

(b) Provided, however, in case of an emergency, no prior notice shall be required to be given.

15. TAXES AND STAMP DUTY

(a) The Sub Lessor shall be responsible for the payment of property tax and any other municipal taxes pertaining to the Leased Premises during the Lease Period. The Sub Lessee shall reimburse the property and municipal taxes paid by the Sub Lessor upon demand made in this regard by the Sub Lessor. Any other statutory taxes or duties levied by the Government or governmental departments shall be borne by the Sub Lessor.

(b) Goods and services tax payable on the rent shall be borne by Sub Lessee.

(c) The Parties agree that stamp duty on this Deed shall be borne by Sub Lessor.

16. 88252855885 82 558 255555

(________) 552 558 228822 85588 582 252 225825 25228828 58222 8825 828 28525528 525 28228228 82 5 8552258 525 52822288882 252225 525 85588 5525 2825 252 25228828 22 252 558 228825 82 252 8522 822582822 (5258225882 8255 525 2255 25822225).

(________) 558 228822 525228 2552 82 85588 222 552522 252 225825 25228828 525 85588 82 52822288882 225 522 5525228 858258225 22 252 225825 25228828 58 5 528582 22 522 58288822 22 252 2552 22 558 228822'8 82882228, 888228228, 525/25 252828.

(________) 558 228822 85588 822282 8825 588 28882528228 8222825 5222 558 228822 82 5228885882 2528888228 22 858 525 85885822 588288528228.

(________) 558 228822 85588 582 525 2225522 588 2828258858, 28528822, 85282552, 82228852822, 585-822582822822 525 22525 2588882828 525 5228852828, 828855822 282852258 (58 5228885882) 82 5 5258225882 252225.

(________) 558 228822 85588 222 5282522, 522582, 552522, 822585, 25 522282 522 2552 22 252 225825 25228828 25 25222522 2525282 225 225282 522 225822 22 52 82.

(________) 558 228822 85588 8225582 5828282 25 5258282 525 5285852 22525 2258228 22 252 225825 25228828 8825 588 25 525 8228222 22 8225582 2522828828, 82 5 252225 2552 5228 222 525258225882 5882558 252 558 228822'8 8282582558 25 85582 25885282.

17. 88252855885 82 558 255588

(________) 558 228825 85588 822282 8825 5228885882 8588 525 252 252 252888258 25528 82 5282282 22 252 225825 25228828 82 5 282282 252225.

(________) 558 228825 85588 228552 2552 522 25225 5225858 85885 252 82 52858525 225 252 225825 25228828 85588 82 8555825 252 82 5 282282 252225.

(________) 52 8582222 8228222 88 52858525 2522 252 8528258 228825/25222522 282258, 8585 2252888822 85588 82 282525 28258225 822252 22225822 8222 2588 8225 525 5 8222 22 8585 2252888822 85588 82 52258525 58222 8825 2588 8225 525 82 52858525, 252 8528258 228825/25222522 28225 252 8822 52 252 225 22 2588 5225.

(________) 5585 8228222 2522 252 228825/25222522 28225 85588 222 5282582 558 228825 22 828 28882528228 25 58225 252 25288282552 885888822 22 558 228825 22 252 252 5222 525 2252252 525 822282 8825 588 22 252 28882528228 22 558828825 52525 252 8528258 22582 5225 8825 252 228825/25222522 88225.

18. REPRESENTATIONS AND WARRANTIES OF SUB LESSOR

(a) The Sub Lessor has a clear and marketable title to the Leased Premises and has a right, power, and authority to grant to the Sub Lessee, the Sublease of the Leased Premises.

(b) The Sub Lessor has paid and shall pay all existing and future municipal rates, taxes, levies, and similar outgoings in respect of the Leased Premises.

(c) The Sub Lessee, on paying rent and other charges payable as per this Deed regularly and on duly observing the terms and conditions hereof, shall be entitled to quiet and peaceful enjoyment of the Leased Premises during the subsistence of the term hereof, without any obstruction, interruption or disturbance by the Sub Lessor or any person or persons lawfully claiming through or under the Sub Lessor.

(d) Except as specified above, the Sub Lessor makes no representations and warranties including but not limited to any express or implied warranties, with regard to the condition of the Leased Premises and the Sub Lessee is taking the Leased Premises on an as-is-where-is basis.

19. REPRESENTATIONS AND WARRANTIES OF THE SUB LESSEE

(a) Sub Lessee agrees to pay the rent on the due dates and in the manner specified in this Deed and that to observe and abide by all the terms and conditions as set out in this Deed and master Lease deed.

(b) Sub Lessee agrees to hand over the vacant possession of the Leased Premises to the Sub Lessor immediately upon expiry of the term of the Sub Lease and/or on earlier termination of this Sub Lease Deed. The Sub Lessee shall be liable to remove all the fittings and fixtures installed by them in the Leased Premises and reinstate the Leased Premises subject to wear and tear.

(c) To always keep the Leased Premises in good condition.

20. INSURANCE

(a) The Sub Lessor shall be responsible for insuring the Leased Premises.

21. DEFAULT

(a) A breach of any of the terms of this Sublease by the Sub Lessee which is not cured within a period of: ________, from receipt of notice from the Sub Lessor shall be considered a default under this Deed. Breaches may include but are not limited to, failure to pay the Sublease rent, engaging in any unlawful activity, damaging or otherwise destroying Leased Premises or any common areas therein, or violation of any part or sub-part of this Lease.

(b) Where there is more than one Sub Lessee executing this Sublease, all Sub Lessee's are jointly and severally liable for each other's acts, omissions and liabilities under this Sublease.

22. TERMINATION

(a) The Sub Lessor shall also be entitled to terminate the Sublease without any notice in the event of a default committed by the Sub Lessee which is not cured within a period of: ________, from the date of receipt of a written notice in that regard from the Sub Lessor.

(b) Sub Lessor shall be entitled to terminate this Deed by giving written notice of: ________ to the Sub Lessee of its intention to terminate.

(c) Sub Lessee shall be entitled to terminate this Deed by giving written notice of: ________ to the Sub Lessor of its intention to terminate.

(d) Upon the expiration, termination or cancellation of the Master Lease or this Sublease, all the obligations of the parties under his Sublease will be extinguished.

(e) Upon any termination of this Deed for any reason whatsoever, the Sub Lessee shall hand over physical vacant possession of the Leased Property to the Sub Lessor simultaneously with the Sub Lessor refunding to the Sub Lessee the Security Deposit after adjusting all monies due and payable by the Sub Lessee in terms of this Deed.

23. DISPUTE RESOLUTION

(a) Except as otherwise specifically provided in this Deed, the following provisions apply if any dispute and difference arise between the Parties, arising out of or in relating to/connection with this Deed (The 'Dispute').

(b) The Dispute will be deemed to arise when one Party serves on the other Party a notice stating the nature of the Dispute (a 'Notice of Dispute').

(c) The Parties hereto agree that upon serving a Notice of Dispute, they will use all reasonable efforts to resolve the Dispute between themselves through negotiations.

(d) Subject to the foregoing, the courts in ________ shall have exclusive jurisdiction over any dispute, differences or claims arising out of this Deed.

24. GOVERNING LAW

This Deed shall be governed by the laws of India.

25. INDEMNITY

Each Party shall defend, indemnify, and hold harmless the other Party from and against any claim, liability, demand, loss, damage, judgment, or other obligation or right of action, which may arise as a result of the breach by such Party of this Deed or any misrepresentation made herein.

26. AMENDMENT

The terms of this Deed shall not be altered or added to nor shall anything be omitted therefrom except by means of a Supplementary Deed in writing duly signed by both the Parties hereto.

27. SPECIAL CONDITIONS

The Lessee agrees that it shall not without prior written permission of the Lessor carry out the following activities in the Leased Premises:

________

28. CONFLICT WITH ORIGINAL LEASE

In the event of any conflict between the provisions of the Original Lease and this Sublease, the Orginal Lease shall govern and control except to the extent directly contradicted by the terms of this Sublease.

29. NOTICES

Any notice or other information/document required or authorized by this Deed to be given shall be given in writing, in English, and by:

(a) Delivering it by hand (a written acknowledgment in receipt thereof shall be sufficient evidence that the notice or other information has been duly given); or

(b) Sending it by nationally recognized courier;

to the relevant Parties at the addresses specified in the name clause of this Deed above.

30. SEVERABILITY

If at any time, any provision of this Deed shall become or be held illegal, invalid, or unenforceable in any respect under any law, then the legality, validity or enforceability of the remaining provisions shall not in any way be thereby affected or impaired.

31. WAIVER

No failure on the part of either Party to exercise, and no delay on the part of either Party in exercising any right hereunder, shall operate as a waiver thereof, nor shall any single or partial exercise of any such right preclude any other or future exercise thereof or the exercise of any other right. The remedies herein are cumulative and not exclusive of any remedies provided by law.

32. COUNTERPARTS

This Deed may be executed in _____ (To fill in the number of copies of the Sublease deed which would be printed and signed in original) number of counterparts each of which shall be deemed to be an original.

IN WITNESS WHEREOF, the Parties hereto have executed this Deed:

Annexure 1 - Copy of Original Lease Deed

Annexure 2 - Fixtures and fittings

Annexure 3 - Meter Readings

___________________________

________

___________________________

________

SIGNED AND AGREED BY THE ORIGINAL LESSOR:

Name: ________

Dated: ________

________________________

Sign