Exhibit 4.34
LEASE DEED
THIS LEASE DEED is made at Gurgaon on this 26th day of December, 2022.
BETWEEN
DLF Cyber City Developers Limited, a company incorporated under the Companies Act, 1956 (including any statutory modification or re‑enactment thereof) and having its registered office at 10th Floor, DLF Gateway Tower, DLF City Phase—III, Gurgaon‑122002, (hereinafter referred to as ‘THE LESSOR’ which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors, transferees, nominees and assigns) acting through its authorized signatories, Mr. Nishant Banerjee and Mr. Baljeet Singh duly authorized vide board resolution dated 16.07.2020 of the First Part.
AND
** M/s MakeMyTrip (India) Private Limited, a company incorporated under the Companies Act, 1956 (including any statutory modification or re‑enactment thereof) and having its registered office at 19th Floor Tower A/B/C, Epitome Building No. 5, DLF Cyber City, DLF Phase III, Gurgaon, 122002 and head office / corporate office at Gurugram (hereinafter referred to as ‘THE LESSEE’ which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors) having Permanent Account Number (PAN) AADCM5146R and Tax Deduction and Collection Account Number (TAN) DELM09144C, acting through its authorized signatory, Mr. Vikash Kumar Tiwari duly authorized vide board resolution dated 08.01.2021 of the Second Part.
(Both THE LESSOR and THE LESSEE, wherever the context permits, are collectively referred to as the “ Parties” and individually as the “Party”)
WHEREAS:
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NOW THEREFORE IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
In this Lease Deed, unless the context otherwise requires, the following terms shall have the following meanings:
“Car Parking Charges” shall mean the charges collectively payable for car parking spaces and additional car parking spaces (if any), as provided in Annexure C‑l.
“Demised Premises” shall mean premises in Said Building as more fully described and detailed as per Annexures T‑l and T‑ll having Gross Leasable Area, as provided in Annexure C‑l.
“DPI Rate” shall mean the rate of interest provided in Annexure C‑l payable by THE LESSEE on all delayed payments / reimbursements.
“Due Date” shall mean 1st day of each calendar month or such other date as is mentioned in the invoice / demand notice.
“Extra Hour Charges” shall mean the charges for extra hours beyond the normal business hours, as provided in Annexure C‑l.
“Façade Signage” shall mean such signage, as provided in Annexure C‑l, indicating the name or logo of THE LESSEE.
“Façade Signage Charges” shall mean the annual charges payable by THE LESSEE for putting up Façade Signage, as provided in Annexure C‑l.
“Governmental Approval” shall mean any and all requisite authorizations, approvals, consents, licenses, sanctions, permissions, permits etc. from Governmental Authority.
“Governmental Authority” means any government, any state or political subdivision thereof, any statutory authority, any entity exercising executive, legislative, judicial, quasi‑judicial, regulatory or administrative functions of or pertaining to governance or any government department, any government authority, agency, department, commission, board, municipal authority or instrumentality or any political subdivision thereof; any court, tribunal or arbitrator(s) of competent jurisdiction or any other law / rule / regulation making entity, having jurisdiction over the Parties or the arrangement under this Lease Deed.
“Gross Leasable Area” shall have the meaning ascribed to the term in Annexure T‑l.
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“IFRMSD” shall mean the interest free refundable maintenance security deposit, as provided in Annexure C‑l.
“IFRSD” shall mean the interest free refundable security deposit, as provided in Annexure C‑l.
“IFRUSD” shall have the meaning ascribed to the term in clause 5.3 and as provided in Annexure C‑l.
“IPR” shall mean intellectual property rights collectively including all trade names, trademarks, service marks, brand names, logos, symbols, proprietary marks, etc.
“Laws” shall mean any and all applicable laws, central laws, state laws or local laws, including any amendment or re‑enactment thereof; by‑laws including building by‑laws and rules; central, state & local fire prevention and fire safety laws; rules; regulations; orders; ordinances; protocols; codes including National Building Code; specifications including Bureau of Indian Standards Specifications, standards, guidelines, policies, notices, directions; judgments, decrees, orders; directives of Governmental Authority or person acting under the authority of Governmental Authority, whether in effect at the time of entering into the arrangement under this Lease Deed or thereafter.
“Lease” shall mean the lease in respect of Demised Premises for Lease Term in accordance with the terms and conditions contained herein.
“Lease Commencement Date” shall mean the date of commencement of Lease Term, as provided in Annexure C‑l,
“Lease Deed” shall mean this lease deed executed between THE LESSOR and THE LESSEE and shall include all the annexures thereto and any and all amendments / modifications made to this lease deed from time to time.
“Lease Renewal Term” shall mean such further term(s) from the expiry of Lease Term as provided in Annexure C‑L
“Lease Term” shall mean such period from Lease Commencement Date as provided in Annexure C‑l.
“Lock‑in period” shall mean such period from Lease Commencement Date as provided in Annexure C‑l.
“LOI” shall mean the letter of intent executed in respect of leasing of Demised Premises, as provided in Annexure C‑l.
“Maintenance Charges” shall mean the monthly charges towards the maintenance services, as provided in Annexure C‑ l
“Monthly Rent” shall mean the monthly rent payable in respect of Demised Premises, as provided in Annexure C‑ l
“Notice Period” shall mean notice period as provided in Annexure C‑l.
“Other Miscellaneous Charges” shall mean the charges as applicable and as provided in Annexure C‑ l
“Power Load” shall mean the power load as provided in Annexure C‑l.
“Property” shall collectively mean Said Plot, Said Complex and Said Building.
“Rent Commencement Date” shall mean the date for commencement of payment of Monthly Rent, as provided in Annexure C‑ l
“Said Building” shall mean such block(s) / tower(s) of Said Complex as provided in Annexure C‑l.
“Said Complex” shall mean the complex constructed on a part of Said Plot, as provided in Annexure C‑ l
“Said Plot” shall mean the parcels of land in sectors 24, 25 & 25A, Gurgaon for which license(s) for development of Cyber City have been granted by Governmental Authority.
“Security Deposits” shall collectively mean IFRSD, IFRMSD and IFRUSD
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“Taxes for Demised Premises” shall mean collectively any and all taxes, duties, charges, cesses, levies etc. on Property as may be levied prospectively and / or retrospectively by Governmental Authority calculated prorata of Gross Leasable Area of Demised Premises to the gross leasable area of Property as well as payable / reimbursable in respect of the car parking spaces.
“TDS” shall mean the tax deducted at source at the applicable rates as per the Income Tax Act, 1961 and the rules framed thereunder or any other tax of similar nature, including withholding tax, under any other statute, as may be applicable to the sums payable by THE LESSEE to THE LESSOR from time to time in terms of this Lease Deed.
“Use and Occupation Charges” shall mean the amount payable on a daily basis for each day of occupation beyond termination / expiry of this Lease Deed, as provided in Annexure C‑l.
THE LESSOR hereby agrees to grant Demised Premises on Lease to THE LESSEE and THE LESSEE agrees to take Demised Premises on Lease from THE LESSOR for Lease Term.
During Lease Term, THE LESSEE shall have the right to use car parking spaces, as provided in Annexure T‑lll, in terms of this Lease Deed. Further, THE LESSEE shall also have the right to use the common areas, facilities and amenities including areas in the basement / stilt reserved for ingress / egress and common circulation in Said Building / Said Complex / Said Plot along with other lessees / occupants in Said Building / Said Complex, as per terms and conditions of this Lease Deed.
THE LESSEE agrees and undertakes that it shall only conduct the business from Demised Premises which is in accordance with Laws and the license(s) by Governmental Authority in respect of Said Plot.
Unless earlier terminated in accordance with the terms of this Lease Deed, Lease shall be valid for Lease Term.
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During Lease Term and Lease Renewal Term, if any, THE LESSEE shall pay and always maintain with THE LESSOR or its nominee(s) / assign(s), IFRMSD as per details given in Annexure C‑l.
During Lease Term and Lease Renewal Term, if any, THE LESSEE shall pay and always maintain with THE LESSOR or its nominee(s) / assign(s), the interest free refundable utilities security deposit including the amount towards power / additional power load and towards meters installed for recording the consumption of power, power back up and air handling unit (“AHU”) electrical usage as per details given in Annexure C‑l (“IFRUSD”).
Security Deposits shall be the amounts kept with THE LESSOR or its nominee(s) / assign(s) to secure the due performance of obligations including payments of all dues by THE LESSEE under this Lease Deed. THE LESSOR shall be entitled, at any time, to utilize and make deduction(s) from Security Deposits of amount(s), which in the opinion of THE LESSOR, is / are equivalent to the outstanding dues of THE LESSEE in accordance with the terms of this Lease Deed or for making good any loss or damage caused or permitted to be caused to THE LESSOR or Demised Premises by THE LESSEE. THE LESSEE shall be required to forthwith replenish Security Deposits to the full amount upon any deduction(s) made by THE LESSOR under any provision of this Lease Deed.
THE LESSOR shall provide to THE LESSEE the statement of the outstanding dues payable by THE LESSEE, if any, and other estimated charges payable under this Lease Deed, supported with relevant documents, five (05) days prior to the expiry of Lease Term / Lease Renewal Term, if any, and THE LESSEE undertakes to pay the aforesaid amounts not later than the date of expiry / earlier termination of this Lease Deed and provide TDS certificates within the requisite time period as provided under the Income Tax Act, 1961 and the rules framed thereunder.
Upon expiry / earlier termination of this Lease Deed and upon THE LESSEE surrendering peaceful, vacant and physical possession of Demised Premises in as good condition as it was in at the time when THE LESSEE was handed over Demised Premises for interior fit‑out works (reasonable wear and tear excepted), subject to THE LESSEE making payment of any and all outstanding dues, penalties, claims for damages (if any) under this Lease Deed or Lease Renewal Term, if any, separately to THE LESSOR, THE LESSOR or its nominee(s) / assign(s) shall refund Security Deposits as mentioned above to THE LESSEE, without any interest thereon.
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However, such refund shall be subject to adjustment or deduction of dues with respect to TDS (if any) and outstanding dues, penalties, claims for damages (if any) under this Lease Deed if the same are not paid by THE LESSEE.
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Any under‑recovery by THE LESSOR or its nominee(s) / assign(s) / appointed contractor(s) / appointed agency(ies) / third party service provider(s) shall become payable by THE LESSEE to THE LESSOR or its nominee(s) / assign(s) / appointed contractor(s) / appointed agency(ies) / third party service provider(s) and any over‑recovery by THE LESSOR or its nominee(s) / assign(s) / appointed contractor(s) / appointed agency(ies) / third party service provider(s) to THE LESSEE. Any under‑recovery by THE LESSOR shall be recovered by raising the invoice / demand in this regard. Any refund to THE LESSEE on account of over‑recovery shall be refunded / adjusted within thirty (30) days of providing such third party auditor certificate and issuance of credit / debit note (as applicable).
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Subject to availability and subject to THE LESSEE seeking prior written permission, THE LESSOR or its nominee(s) / assign(s) / appointed contractor(s) / appointed agency(ies) / third party service provider(s) may allow THE LESSEE to put directional signage / name / logo at such location / space which may be earmarked for the purpose. The size, specification, location, aesthetics etc. of the directional signage / name / logo shall be approved by THE LESSOR or its nominee(s) / assign(s) / appointed contractor(s) / appointed agency(ies) / third party service provider(s) before its installation.
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THE LESSEE acknowledges and agrees that THE LESSOR or its nominee(s) / assign(s) / appointed contractor(s) / appointed agency(ies) / third party service provider(s) have the right to install posters, banners, contra‑visions and other displays of any multimedia I visual format in the common areas and basements including but not limited to lift lobbies, atrium(s), lifts, outer glass façade, curtain walls, external walls, terraces etc. of Said Building / Said Complex and that THE LESSEE has no right to object to any such installation by THE LESSOR or its nominee(s) / assign(s) / appointed contractor(s) / appointed agency(ies) / third party service provider(s).
THE LESSOR may provide, on the request of THE LESSEE, such space on the terrace of Said Building on non‑exclusive basis, as provided in Annexure C‑l, for putting up their VSAT antenna or other communication equipments only, on payment of charges as provided in Annexure C‑l of this Lease Deed. Such equipments shall be installed at the aforesaid space by THE LESSEE in consultation with THE LESSOR or its nominee(s) / assign(s) / appointed contractor(s) / appointed agency(ies) / third party service provider(s). The cost of such installation, maintenance, approvals, permissions and removal shall be borne by THE LESSEE. THE LESSEE acknowledges and agrees that provision of any space to THE LESSEE on the terrace shall not amount to any right in terrace. The terrace of Said Building remains the exclusive property of THE LESSOR.
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The permission to THE LESSEE shall be restricted only to interior fit‑out works in Demised Premises and THE LESSEE shall not be permitted to carry out any structural additions / alterations of permanent nature. If the interior fit‑out works in Demised Premises require any Governmental Approval, THE LESSEE shall not commence or carry out such additions or alterations or erections without obtaining such Governmental Approval.
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THE LESSEE shall carry out regular maintenance and properly attend to minor repairs in Demised Premises at its own cost.
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THE LESSEE is aware and has specifically agreed and understood that the construction / development of additional structures or other additions / alterations by THE LESSOR may cause inconvenience in a de minimis way and it has no objection to the same.
THE LESSEE understands, acknowledges and agrees that safety / security / fire safety of all occupants of Said Building / Said Complex and Said Building / Said Complex itself are of paramount importance and THE LESSEE will perform all acts and deeds necessary for complying with all safety requirements including the following:
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For the purposes of this clause, a change in control of THE LESSEE shall mean the existing shareholders of THE LESSEE as on the date of execution of this Lease Deed and their affiliates ceasing to collectively hold at least fifty one percent (51%) of the issued and paid‑up share capital of THE LESSEE.
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THE LESSOR shall allow during the term of this Lease Deed, peaceful enjoyment of Demised Premises to THE LESSEE, subject to THE LESSEE performing all its obligations under this Lease Deed.
In case THE LESSEE defaults in making payments under this Lease Deed, the following shall be applicable:
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Upon any such failure of THE LESSEE to comply with the aforesaid requirements, this Lease Deed shall stand terminated forthwith and THE LESSOR will be entitled to re‑enter and take possession of Demised Premises without any prejudice to THE LESSOR’s right to claim its dues and / or avail other remedies available to THE LESSOR;
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THE LESSEE agrees that upon such termination of Lease, THE LESSOR will be released and discharged of all its liabilities and obligations under this Lease Deed and THE LESSEE shall be left with no right or interest over Demised Premises.
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THE LESSEE shall not have the right to terminate Lease until expiry of Lock‑in period. In case THE LESSEE terminates Lease prior to the expiry of Lock‑in period, THE LESSEE shall be liable to give a prior written notice. In such an event, THE LESSEE shall be liable to pay the amount equivalent to Monthly Rent, Car Parking Charges, Taxes for Demised Premises, Façade Signage Charges (if any). Maintenance Charges, taxes and any other charges for the entire unexpired Lock‑in period or for Notice Period, whichever is higher.
Upon such termination, THE LESSEE shall handover the peaceful, vacant and physical possession of Demised Premises to THE LESSOR in as good condition as it was in at the time when THE LESSEE was handed over Demised Premises for interior fit‑out works, reasonable wear and tear excepted. In the event THE LESSEE fails to handover Demised Premises to THE LESSOR upon termination as aforesaid, then THE LESSEE shall be treated as an unauthorized occupant and shall also be liable to pay Use and Occupation Charges as provided in clause 34.1 of this Lease Deed and shall also be liable for all actions under Laws.
THE LESSEE may terminate Lease, by giving a prior written notice for Notice Period anytime after the expiry of Lock‑in period, or by making payment of Monthly Rent, Car Parking Charges, Taxes for Demised Premises, Facade Signage Charges (if any), Maintenance Charges, taxes and any other charges in lieu of Notice Period.
Upon such termination, THE LESSEE shall handover the peaceful, vacant and physical possession of Demised Premises to THE LESSOR in as good condition as it was in at the time when THE LESSEE was handed over Demised Premises for interior fit‑out works, reasonable wear and tear excepted. In the event THE LESSEE fails to handover Demised Premises to THE LESSOR upon termination as aforesaid, then THE LESSEE shall be treated as an unauthorized occupant and shall also be liable to pay Use and Occupation Charges as provided in clause 34.1 of this Lease Deed and shall also be liable for all actions under Laws.
THE LESSEE shall hand over the peaceful, vacant and physical possession of Demised Premises in as good condition as it was in at the time when THE LESSEE was handed over Demised Premises for interior fit‑out works, together with THE LESSOR’S fixtures and fittings installed therein, if any, (reasonable wear and tear excepted) on the expiry / earlier termination of this Lease Deed, whichever is earlier.
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THE LESSEE represents, undertakes and assures to THE LESSOR that:
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then, THE LESSEE shall, temporarily vacate the whole or such portion of Demised Premises, as may be required, to enable THE LESSOR to carry out repairs and to restore Demised Premises in as good condition as it was in at the time of handover of Demised Premises for interior fit‑out works.
Time is the essence of Lease and THE LESSEE shall perform all its obligations under this Lease Deed in a timely manner.
Failure of either Party to enforce at any time or for any period of time the provisions hereof shall not be construed to be waiver of any provisions or of the right thereafter to enforce each and every provision hereof.
If any provision is determined to be void or unenforceable under Laws, such provisions of this Lease Deed shall be deemed amended or deleted to the extent necessary to conform to Laws and the remaining provisions of this Lease Deed shall remain valid and enforceable.
If two or more persons are included in the term “THE LESSEE” all covenants, terms, conditions and restrictions shall be binding on them jointly and each of them severally.
All compliances including procedural requirements required by Governmental Authority and / or Laws, as applicable from time to time with respect to the obligations of the Parties under or arising out of this Lease Deed shall be done by the respective Party.
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THE LESSEE agrees to defend, indemnify and hold harmless THE LESSOR from and against any and all damages, liabilities, costs, expenses (including reasonable attorneys’ fees, expert fees and other legal expenses) and settlement amounts incurred in connection with (i) gross negligence, misrepresentation, error or omission on the part of THE LESSEE or its representatives relating to or concerning the performance of the obligations by THE LESSEE as specified herein; (ii) breach by THE LESSEE of the provisions of Laws; (iii) infringement of patent, copyright, trade secret or other intellectual property right of a third party; and / or (iv) any suit, claim, or action by any third party against THE LESSOR as a result of any act and / or omission to act by THE LESSEE.
THE LESSEE shall not assign or otherwise transfer this Lease Deed or any right, benefit or obligation hereunder (whether by operation of Laws or otherwise) to any other person without prior written consent of THE LESSOR.
It is agreed that THE LESSOR shall have the right to transfer or assign all (or any part) of its rights or obligations under this Lease Deed to any person, provided that any such assignment will result in the subsequent performance by the assignee of all of THE LESSOR’s obligations under this Lease Deed. The assignee shall expressly assume and agree to perform such obligations and shall become solely responsible for all obligations of THE LESSOR under this Lease Deed from the date of assignment. In addition, and without limitation to the foregoing, THE LESSEE expressly affirms and agrees that THE LESSOR may, provided it does not in any manner affect Lease and performance of obligations under this Lease Deed, sell its assets; its securities in a public offering or in a private placement; may merge, acquire other companies, or be acquired by / merged / amalgamated into another company; and may undertake a refinancing, recapitalization, leveraged buy‑out, or other economic or financial restructuring.
Nothing contained herein shall be deemed or construed by the Parties hereto, or by any third party, as creating the relationship of principal and agent or of partnership or of joint venture between the Parties hereto or any other relationship, other than the relationship of THE LESSOR and THE LESSEE.
This Lease Deed and the rights and obligations of the Parties under or arising out of this Lease Deed shall be construed and enforced in accordance with Laws of India.
All or any disputes arising out of, touching upon, connected with, concerning or in relation to the terms of this Lease Deed including the interpretation and validity of the terms thereof and the respective rights and obligations of the Parties shall be settled amicably by mutual discussion failing which the same shall be settled through arbitration. The arbitration shall be governed by the Arbitration & Conciliation Act, 1996 or any statutory amendments / modifications thereof for the time being in force. The arbitration proceedings shall be held at New Delhi by the sole arbitrator who shall be appointed by THE LESSOR and whose decision shall be final and binding upon the Parties. THE LESSEE hereby confirms that he / she / it shall have no objection to this appointment of the arbitrator by THE LESSOR. The arbitration proceedings shall be in English language only.
The District courts at Gurgaon and the Punjab and Haryana High Court at Chandigarh alone shall have the jurisdiction concerning all matters in this Lease Deed.
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This Lease Deed shall not be changed or modified except by written amendment by way of an addendum duly agreed and signed by the Parties. However, for matters pertaining to car parking spaces, Façade Signage, normal business hours, modification I amendment / variation may be made by way of any instrument including letter agreement signed by the Parties.
Any notice, letter or communication to be made, served or communicated unto either Party under these presents shall be in writing and shall be deemed to be duly made, served or communicated only if the notice, letter or communication is addressed to other Party, at the address given in Annexure C‑l or such other addresses as may be intimated in writing, and sent by registered post / fax / email (given hereunder) / speed post or delivered personally with acknowledgement.
THE LESSOR, DLF Cyber City Developers Limited through its authorized signatories Mr. Nishant Banerjee and Mr. Baljeet Singh authorized to execute lease deeds vide board resolution dated 16.07.2020 have executed this Lease Deed. This Lease Deed is presented for registration before the registering authority by Mr. S/o Mr. R/o , who has been authorized vide board resolution dated 16.07.2020 of THE LESSOR to appear before the registering authority and present for registration, acknowledge and get registered this Lease Deed executed by Mr. Nishant Banerjee and Mr. Baljeet Singh on behalf of THE LESSOR.
IN WITNESS WHEREOF the Parties hereto have set their hands to these presents on the day, month and year first and above mentioned.
THE LESSOR:
SIGNED AND DELIVERED on behalf of the above named DLF Cyber City Developers Limited acting through Mr. Nishant Banerjee and Mr. Baljeet Singh, its authorized signatories:
In the presence of:
WITNESSES | For and on behalf of DLF Cyber City Developers Limited |
1. | /s/ Nishant Banerjee /s/ Baljeet Singh (Nishant Banerjee) & (Baljeet Singh) |
2. |
|
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THE LESSEE:
SIGNED AND DELIVERED on behalf of the above named MakeMyTrip (India) Private Limited acting through Vikash Kumar Tiwari, its authorized signatory:
In the presence of:
WITNESSES | For and on behalf of MakeMyTrip (India) Private Limited |
1. | /s/ Vikash Kumar Tiwari (Vikash Kumar Tiwari) |
2. |
|
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[ALL OMITTED EXCEPT C-I]
ANNEXURES
A. COMMERCIAL |
|
C‑I ‑ | Commercial terms & conditions forming integral part of Lease |
C‑II ‑ | Description of the Said Plot |
C‑III ‑ | Electronic clearing system activation form |
B. TECHNICAL |
|
T‑I ‑ | Tentative Gross Leasable Area calculations |
T‑II ‑ | Description of the floor plan(s) of Demised Premises |
T‑III ‑ | Car parking spaces for use by THE LESSEE |
T‑IV ‑ | Maintenance Charges (indicative) |
T‑V ‑ | Tentative building specifications |
T‑VI ‑ | Sharing of services/ division of floor |
T‑VII ‑ | Guiding principles for the interior fit‑out works of Demised Premises |
T‑VIII ‑ | Handover for the interior fit‑out works of Demised Premises |
T‑IX ‑ | List of drawings required for submission by THE LESSEE |
T‑X ‑ | Building Guidelines/ THE LESSEE’s responsibility during interior fit‑out works, additions/modifications/alterations of interior fit‑out works and during Lease Term/ Lease Renewal Term and operations during Lease Term/ Lease Renewal Term |
T‑XI‑ | Compliance Certificate |
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ANNEXURE C‑I
COMMERCIAL TERMS & CONDITIONS FORMING INTEGRAL PART OF LEASE
S.NO | ITEM | DESCRIPTION |
1. | Demised Premises | 27,874 sq. ft. (2,589,584 sq.mfr) on 19th floor in Said Building. |
2. | Gross Leasable Area of Demised Premises | 27,874 square feet (2,589,584 square meters approximately). |
3. | Said Building | Block C |
4. | Said Complex | DLF Building No. 5 |
5. | Said Plot | DLF Cyber City, Gurgaon |
6. | Lease Commencement Date | 26th December, 2022. |
7. | Rent Commencement Date | 26th March, 2023 |
8. | Lease Term | Five (05) years from Lease Commencement Date. |
9. | Date for commencement of THE LESSEE’s interior fit out works | Lease Commencement Date |
10. | Monthly Rent | Rs. 30,24,329 / (Rupees Thirty Lacs Twenty Four Thousand Three Hundred and Twenty Nine only) calculated at the rate of Rs. 108.50 per square foot per month / Rs. 1,167.89 / per square meter per month (Rupees One Hundred Eight and Paise Fifty only per square foot per month/Rupees One Thousand One Hundred Sixty Seven and Paise Eighty Nine only per square meter per month) of Gross Leasable Area of Demised Premises. |
11. | Car Parking Charges (Refer Addendum) | Rs. /-(Rupees only for car parking space(s) at Rs. /- per car parking space per month. (Rupees only) per car parking space per month. |
12. | Date of payment of commencement of Car Parking Charges | Rent Commencement Date |
13. | Lease Renewal Term(s) and Escalation(s) | One (01) term of Five (05) years each. During Lease Term and Lease Renewal Term Monthly Rent, Car Parking Charges, Façade Signage Charges, Security Deposits etc., shall be enhanced at the end of 36th, 72nd and 108th month/year from Lease Commencement Date by 15% over and above last payable respective amount. Interest Free Refundable Security Deposit shall always be equivalent to Six (06) months’ corresponding Monthly Rent and upon escalation as mentioned hereinabove, the differential amount shall be payable by THE LESSEE on or before such escalation. |
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S.NO | ITEM | DESCRIPTION |
14. | Interest Free Refundable Security Deposit (IFRSD) (Refer Addendum) | Rs. /-(Rupees only) calculated at the rate of Rs. /-per square foot per month / Rs. /- per square meter per month (Rupees only per square foot per month / Rupees only per square meter per month) of Gross Leasable Area of Demised Premises in the following manner: Payment on signing of LOI: months’ Monthly Rent amounting to Rs. /-(Rupees only). On signing of Lease Deed: months’ Monthly Rent amount of Rs. /- (Rupees only). IFRSD shall always be equivalent to months’ corresponding Monthly Rent of Demised Premises as prevailing at any point of time during Lease Term. Further, upon escalation in Monthly Rent as mentioned at serial number 13 hereinabove, the differential amount shall be payable by THE LESSEE on or before such escalation. |
15. | Maintenance Charges | 1.2 times of expenses/expenditure/costs which as on Lease Commencement Date are estimated as under: a) For 12*5.5 business hours i.e. 8.00 am to 8.00 pm IST Monday to Friday and 8.00 am to 2.00 pm IST on saturday excluding sunday, public and national holidays: Rs. 19.95/-per square foot per month (Rs. 214.74/-per square meter per month) (Rupees Nineteen and Paise Ninety Five only per square foot per month/ Rupees Two Hundred Fourteen and Paise Seventy Four only per square meter per month). b) For THE LESSEE’s specific business hours i.e. am to pm IST to and am to pm IST on excluding saturday and/or sunday, public and national holidays: Rs. /- per square foot per month (Rs. Per square meter per month) (Rupees only per square foot per month/ Rupees only per square meter per month) (as applicable). c) For 365*24*7 business hours excluding public and national holidays: Rs. 26.50/- per square foot per month (Rs. 285.25/- per square meter per month) (Rupees Twenty Six and Paise Fifty only per square foot per month/ Rupees Two Hundred Eighty Five and Paise Twenty Five only per square meter per month). For working beyond normal business hours as opted by THE LESSEE above the charges will be as per serial number 23. In the event Said Building is already operational and THE LESSEE is carrying out the interior fit out works but does not utilize the central air conditioning for Demised Premises during such interior fit-out works period (which shall not be beyond 8 months from Lease Commencement Date), maintenance will be charged at 50% of the Maintenance Charges for normal business hours, till such time air-conditioning is switched on in Demised Premises. |
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S.NO | ITEM | DESCRIPTION |
16. | Interest Free Refundable Maintenance Security Deposit (IFRMSD) | Rs. 33,36,517.80/- (Rupees Thirty Three Lacs Thirty Six Thousand Five Hundred Seventeen and Paise Eighty only) calculated at the rate of estimated Maintenance Charges of Rs. 19.95/- per square foot per month/ Rs. 214.74/-______________ / per square meter per month (Rupees Nineteen and Paise Ninety Five only per square foot per month/Rupees Two Hundred Fourteen and Paise Seventy Four only per square meter per month) of Gross Leasable Area of Demised Premises for Six (06) months’ in the following manner: 1. Payment on Signing of Lease: Rs. 33,36,517.80/- (Rupees Thirty Three Lacs Thirty Six Thousand Five Hundred Seventeen and Paise Eighty only); and 2. Payment of the differential amount as computed based on Six (06) months’ Maintenance Charges as prevailing at 37th, 73rd and 109th month from Lease Commencement Date, as the case may be, shall be made by THE LESSEE by the 1st day of the respective month. |
17. | Interest Free Refundable Utilities Security Deposit (IFRUSD) | An aggregate of the following: a) Rs. NIL/- (Rupees NIL only) @ Rs. NIL per KVA for power load of 139 KVA calculated as 0.0005 KVA per square foot of Demised Pemises; b) Rs. /-(Rupees only) per KVA for additional power load of KVA (as and when applicable); including:- • Non-refundable charge for additional power load: Rs. 10,000/-(Rupees Ten Thousand only) per KVA. • Refundable deposit for additional load: Rs. 4,000/- (Rupees Four Thousand only) per KVA. • Infrastructure cost at cost + 20%; c) Rs. /- (Rupees only) towards one time non-refundable cost of meters/ monthly meter hire charges (as applicable) for power/ power back-up; and d) Rs. /- (Rupees only) towards one time non-refundable cost of meter(s)/ monthly meter hire charges (as applicable) for air handling unit (“AHU”) electrical usage. a) |
18. | Power Load | 0.005 KVA per square foot aggregating to 139 KVA. Additional load:- KVA (if required by THE LESSEE). |
19. | Normal business hours | 12*5.5 business hours i.e. 8.00 am to 8.00 pm IST monday to friday and 8.00 am to 2.00 pm IST on Saturday |
20. | Electricity / power charges | As per actual consumption of units and as follows:- a) For supply of power from grid power (subject to availability) – As per applicable grid rates; b) For supply of power from back up sources – Cost + 20%; c) For supply of power from utilities company – Cost + 20%. |
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S.NO | ITEM | DESCRIPTION |
21. | Power back up charges | Cost + 20%. |
22. | Water charges | Rs. Nil/unit X units consumed in Demised Premises for the month or as determined from time to time. |
23. | Extra Hour Charges | For working beyond normal business hours: Rs. 0.23/- per sq. ft. per hour on the Gross Leasable Area of Demised Premises or per hour rate for Demised Premises to be intimated by the building manager. |
24. | Use and Occupation Charges | A per day amount calculated for each day of occupation beyond termination/ expiry, calculated on the basis of Three (03) times the last payable Monthly Rent, as applicable immediately before termination/ expiry, divided by 30 days. |
25. | Façade Signage | Number of signage(s) at location number(s) as per enclosure ___________ . |
26. | Façade Signage | Rs. /- (Rupees only) comprising of façade signage charges of Rs. for slot no. ___________ . |
27. | Lock‑in period (Refer Addendum) | months from Lease Commencement Date. |
28. | Notice Period for termination of Lease (Refer Addendum) |
|
29. | Stamp duty, registration charges and other incidental charges | As applicable, payable by THE LESSEE on or before signing of Lease Deed. |
30. | Taxes for Demised Premises | As applicable, shall be paid by THE LESSEE. |
31. | Other Miscellaneous Charges | a) Gas or IGL charges: As applicable, shall be paid by THE LESSEE. b) Services provider, telecom & DTH charges: As applicable, shall be paid by THE LESSEE. |
32. | DPI Rate | 18% per annum. |
33. | Common passage and wall partition cost, if any (one time non‑refundable cost) payable on signing of Lease Deed | Rs. /- (Rupees only). |
34. | Charges for terrace area | Rs. /- (Rupees only) per month for months. |
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S.NO | ITEM | DESCRIPTION |
35. | Communication address | For THE LESSOR:- Name & Designation Mr. Karun Varma Sr. ED Offices – North
Address 10th Floor, Gateway Tower, DLF Cyber City, Gurgaon-122002
Phone - +91-124-4568909 Fax - +91-124-4568900 E Mail @dlf.in
For THE LESSEE:- Name & Designation Mr. Vikash Kumar Tiwari, Director -Legal Address 19th Floor, Tower A/B/C, Epitome Building No. 5, DLF Cyber City, DLF Phase III, Gurgaon – 122002
Phone - _______________ Fax - _______________ E Mail _______________
|
36. | LOI |
|
THE LESSOR: | THE LESSEE: |
/s/ Nishant Banerjee /s/ Baljeet Singh (Nishant Banerjee) & (Baljeet Singh) | /s/ Vikash Kumar Tiwari (Vikash Kumar Tiwari) |
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