Furniture And Fixtures

THIS AGREEMENT made at Mumbai ……day of ………BETWEEN ………………………….., a Trust having its office at …………………………, Mumbai : ………….., hereinafter called "the LICENSOR" (which expression shall mean and include its present trustees, survivors of them, for the time being and their successors in office and assigns) of the ONE PART ; and ……………………………, having its office at ………………………….., Mumbai : ……………, hereinafter called "the LICENSEE" (which expression shall unless repugnant to the context or meaning thereof to include its successors and assigns) of the OTHER PART;

WHEREAS the Licensor is the owner of Office No. …….., on the ….. floor of the building known as "…………….." situate at …………………, Mumbai : ……….. (hereinafter referred to as "the SAID PREMISES") and as such is entitle to possess, use and occupy the Said Premises.

AND WHEREAS the Licensor has allowed the Licensee to use and occupy the Said Premises on Leave and License Basis for a term of 35 (Thirty Five) months by an Agreement of Leave and License of even date.

AND WHEREAS the Licensor is seized and possessed of telephone, furnitures, fixtures, fittings cabins, airconditioners and partitions in the Schedule attached hereunder written lying or being in the Said Premises.

AND WHEREAS the Licensor had agreed to grant a license to the Licensee to make use of the said telephone equipment and the furniture, fixtures, fittings, articles and things lying in the Said Premises (hereinafter referred to as "the SAID MOVABLES").

NOW IT IS AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS :

1. The Licensor hereby grants a Leave and License to the Licensee to make use of the said movables as such Licensee for a period of 35 (Thirty Five) months commencing from the …… day of ………. being the period of the aforesaid Leave and License agreement in respect of the Said Premises.

2. The Licensee shall pay to the Licensor, compensation of Rs………./- ( Rupees ……………..only ) per month for use of the said movable and this shall be paid for every month in advance to the Licensor by the Licensee on or before the 5th. of every month, the following monthly compensation as License Fee for the use and occupation of the Said Premises. The License Fee from August 2000 to August 2001 amounting to Rs…………/- (Rupees ………………. only) will be paid on or before ……………..

3. It is hereby agreed between the parties hereto that the said movable belong to the Licensor and shall continue to remain in the Said Premises for the use of the Licensee and that the Licensor has only allowed the Licensee to use the same under these presents along with the use and occupation of the Said Premises.

4. The parties hereto have clearly agreed that the Licensee shall maintain and repair the said telephone and the fittings, fixtures and furnitures and airconditioners itself at its own cost and expenses and the Licensor shall not be responsible for the same in any manner whatsoever.

5. The Licensee hereby agrees and undertakes that it shall take all reasonable care of the said movables lying and being in the Said Premises and belonging to the Licensor and Licensee hereby indemnifies the Licensor from and against any loss or damage to the same or any of them otherwise than by ordinary wear and tear.

6. It is hereby agreed by the Licensee that immediately on the expiration of the license granted by the Licensor to the Licensee for the use and occupation of the Said Premises or any sooner determination thereof, the Licensee shall as its own cost remove itself from the Said Premises and shall pursuant to such removal handover and deliver to the Licensor the movables in the same condition in which they are at the commencement of this agreement reasonable wear and tear excepted.

7. It is hereby agreed between the parties that at all times the ownership of the said movables shall be deemed to be that of the licensor.

8. The Licensee shall be the custodian of the said movables during the continuance of the license and shall be responsible for the same to the Licensor in the event of any loss, damage, pilferage or destruction to all or any of them by any reason whatsoever.

9. In the event that the Licensee does not require any of the items of the furnitures, fittings, fixtures, airconditioners or partitions belonging to the Licensor, the Licensee shall return the same to the Licensor. However, the amount of compensation shall not be reduced.

10. This agreement shall be co-terminus with the agreement of even date for Leave and License of the Said Premises.

NOW WITNESS WHEREOF the parties have hereunto set and subscribed their respective hands the day and year first hereinabove written.

SIGNED AND DELIVERED by the withinnamed "LICENSOR" ……………………………………… By its Trustee MR. ……………………… in the presence of ……………………………………	)
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