Beruflich Dokumente
Kultur Dokumente
WHEREAS :-
A. NBL is developing a Multiplex Cum Theatre cum 3 Star Hotel Complex named
(HEREINAFTER REFERRED TO AS “The Complex”) .The competent
authorities has sanctioned the plans for the Complex vide letter dated 11.03.2004
No.20867/SIDCL/RPG/198/1 ENCLOSED AS ANNEXURE – I . The proposed
Complex shall consist of basement , lower ground, ground and upper floor levels .
B. CS is engaged in retailing of readymade garments and other consumer goods on
shop in shop arrangement with various brands.
C. NBL represents that it is fully entitled and authorized to put up the Project in the
manner mentioned supra and is fully competent and authorized to execute this
agreement and provide the rights to CS as contained herein .
D. NBL has offered an area of approximately 27147 sq. ft (Super Area) on the
Ground Floor of built up area (marked red in the plan annexed) for running a
Departmental Store hereinafter be referred as Said Space .
E. CS has a right to enter into various business conducting agreement except
leasing/subleasing for space within the store with various companies on shop in
shop arrangement except for the purpose of restaurant business .
The parties hereto are desirous of recording the terms and conditions agreed between
them :-
1. Scope
NBL hereby agrees to permit CS to put up and operate its Departmental Store at the Said
Space in the complex as more clearly described in the Schedule annexed with the present
Memorandum of Understanding and marked as Annexure-I, on the terms and conditions
herein contained and in the Agreement/s to be executed between them .
2. Term
The term of the Agreement/s shall be for a period of 25 years commencing from the date
of commencement . Lock in period of the agreement will be 2 years and in case CS
terminates agreement before this date, it will be liable to pay the rent for the remaining
period to the NBL. NBL or any purchaser can not terminate this agreement before the
Term of this agreement unless CS does any act in contravention to the provisions of this
agreement.
3. Area
An area of approximately 27147 sq. ft. (Super) on the Ground floor of Pacific having a
covered area of 19546 sq. ft. for running a Department Store as marked red in the
annexed map.
5. Commencement Date :
5.1 Unless prevented by any Act of God, CS shall ensure that the Commencement Date
of Agreement shall definitely be within a period of 4 months from the Fit Out date,
However it can not be earlier than opening of major anchor stores in Pacific, such as
Giant Adlabs Cinema and Globus .
5.2 The period between the Fit Out Date and the Commencement Date shall be
compensation free period for CS .
5.3 CS shall be liable to pay the Minimum Guaranteed Profit from the Commencement
Date irrespective of the commencement of business by the CS .
It is further agreed that the parties shall enhance the Minimum Guarantee by 15% once in
every 5 years from when the Minimum Guaranteed profit becomes payable as per this
Agreement i.e. the starting of payment of Minimum Guaranteed Profit.
CS shall pay and / or reimburse all amounts payable as per this agreement to NBL and /
or its nominees on or before 7th (Seventh) day of each succeeding English Calendar
month . CS shall be liable to pay interest on all delayed payments at the reate of 12% per
annum for the period of delay . Commission account will be settled on 1st April every
year .
7. Maintenance Charges
7.1 CS shall pay to NBL or any of its nominees/maintenance agency appointed by NBL,
maintenance charges for maintenance an use of common areas including but not limited
to air conditioning, power backup etc. each month for the Complex at the rates fixed
under agreement entered between them. Tentative amount of maintenance charges
payable per month shall be mentioned at the time of signing of fnal License Agreement .
7.2 In case NBL/Complex Maintenance agency increase the maintenance charges for all
the other occupants in the complex, then CS shall also be liable to bear the increase in the
same proportion to the area occupied by it over the last maintenance charges paid by CS .
7.3 NBL may appoint one or more agencies for providing house-keeping facilities .
8. Signage
CS shall be permitted to put up its signage at the entrance and exit to the Said Space and
within the Said Space in such manner as decided by mutual consultation with NBL .
Entire signage space will be decided by mutual consent by NBL abd CS at the time of
handing over of possession for fit outs or commencement of business by CS. CS shall
obtain all municipal and other approvals and bear and pay the costs taxes, rates, cess, and
levies including operating costs for signage .NBL also agrees that it will provide atleast
2-signage spaces to CS on front façade of building , one facing Delhi road and other one
facing Dr. Burman road .
9. Insurance
CS shall be responsible for insuring all its products , stocks , workmen , visitors and
customers against all risks within the demised premises .
12. Power
12.1 CS shall pay Rs. 1500/- per KVA to NBL as additional Security Deposit against
power requirement, which is refundable in the same way as interest free security deposit.
13. TTERMINATION
(a) CS will give atleast 3 months prior notice to NBL before vacanting the
premises.
(b) CS shall hand over charge of the premises to NBL simultaneously against
NBL refunding the security deposit amount, after deducting arrears therefrom,
if any, to CS.
(c) In the event if CS is ready and willing to vacate the premises, but NBL fails to
refund the Security Deposit, then:-
(i) CS shall be entitled to use the premises free of charges for such time as
the Security Deposit is refunded by NBL to CS provided however, CS
shall bear and pay the costs of utilities including electricity, water,
telephone and communication charges, and
(ii) NBL shall become liable to pay to CS interest at 18% (eighteen
percent) per annum on the security deposit by way of compensation /
damages, from the date of expiry or sooner determination upto the date
o payment of the Security Deposits by NBL
13.2 Notwithstanding the foregoing provision, NBL shall be entitled to deduct from
the security deposit, arrears and all amounts, if any, which may have become due
and payable by CS to NBL at the expiry or sooner determination of the
agreements.
13.3 In the event of failure on the parts of CS to hand over vacant charge of the Said
Space to NBL on the expiry or sooner determination of Agreement/s, NBL shall
be entitled to retain the security deposit until CS hands over vacant peaceful
charge thereof to NBL and CS shall bear and pay to NBL a sum payable per day
(being twice the aggregate compensation), as damages and compensation for
such wrongful use in addition to the monthly compensation.
13.4 That in the event of CS committing any breach under this MOU, limited to
violation of Financial Term, deviation from main course of trade or such alike
violation, the same shall be required to be rectified by the CS within 60 Days of
the date of written intimation to the CS. In the event CS fails to respond or act
onto rectification of the said breach, NBL shall have the right to terminate this
agreement ad get the demised premises vacated by serving 90 days advance
written notice onto the CS. In case of the other breaches of this agreement apart
from the breaches mentioned above CS will be liable to pay a penalty of Rs.
10000/- per day till CS rectifies the breach.
14. Compliance
CS shall, at its own costs, make all necessary applications for permissions, approvals
and / or sanctions as may be necessary or required or the purpose of conducting the
business of Departmental Store in the Said Space. NBL shall provide copies of such
documents in respect of the Said Space as may be required by any competent authority
for the purpose of granting such permission / approval sought for by CS as applicable to
business of CS.
17. Rights/Title/Interest
17.1 Nothing herein contained shall (notwithstanding any new enactment , change in
the law or judgment , decree or order of any court) be construed as creating any right,
interest , easement, tenancy or sub-tenancy in favour of CS in over or upon the Said
Space or transferring any interest therein in favour of CS other than the permissive right
of use as contained in these present.
17.3 CS shall not create any Management change in CS company without consent of
NBL .
IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their
respective hands the day month and year first hereinabove written.
SIGNED AND DELIVERED by the )
Withinnamed )
)
Naman Buildcon Limited
(Director)
In the presence of ………
Withinnamed )
)
Chunmun Stores Private Limited
(Director)
In the presence of ………