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Draft of Loi - Pace City II

The letter is a letter of intent from Hemant Batra to lease an industrial building located at Plot no. 495, Phase – 5, UDYOG VIHAR, Gurgaon to Benson Medical Equipments India Pvt. Ltd. It outlines the key terms of the proposed 9-year lease including a monthly rent of INR 220,000 with annual 5% increases, a refundable security deposit of INR 660,000 to be paid in installments, maintenance responsibilities, a 18-day rent-free fitout period, and a lease commencement date of June 1, 2015. Both parties agree to sign a formal lease agreement within 10 days to finalize the transaction.

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Girish Sharma
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232 views2 pages

Draft of Loi - Pace City II

The letter is a letter of intent from Hemant Batra to lease an industrial building located at Plot no. 495, Phase – 5, UDYOG VIHAR, Gurgaon to Benson Medical Equipments India Pvt. Ltd. It outlines the key terms of the proposed 9-year lease including a monthly rent of INR 220,000 with annual 5% increases, a refundable security deposit of INR 660,000 to be paid in installments, maintenance responsibilities, a 18-day rent-free fitout period, and a lease commencement date of June 1, 2015. Both parties agree to sign a formal lease agreement within 10 days to finalize the transaction.

Uploaded by

Girish Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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May 13, 2015

Mr. Hemant Batra


.

.
..
Sub : Letter of Intent (LOI) pertaining to INDUSTRIAL Independent Building and its Premises Bearing no. 495,
Situated at Phase 5, UDYOG VIHAR INDUSTRIAL AREA, Gurgaon.
Dear Mr. Batra,,
I/We hereby confirm our intent to take on lease the INDUSTRIAL Independent Building and its premises bearing no. 495
ad-measuring 250 Sq.Mtr. having built-up area of 5500 Sq.Ft. approx. consisting of ( Basement + Ground + First Floor
RCC Structure) situated in Phase - 5, UDYOG VIHAR INDUSTRIAL AREA, GURGAON, HARYANA, on the following
terms and conditions:
Without prejudice and subject to Final Agreement
Lessor

Mr. Hemant Batra

Lessee

Benson Medical Equipments India Pvt. Ltd.

Property Address

Plot no. 495, Phase 5, UDYOG VIHAR, Gurgaon

Total Built-up Area

5500 Sq..Ft. (apporx.)


( Consisting of Basement + Ground + First Floor)

Rent

INR 2,20,000/- Per Month


Lessee shall issue PDCs ( Post Dated Cheques ) on yearly basis.

Service Tax (pertaining to Rent) :

To be borne by the Lessee.

Interest Free Refundable


Security Deposit

Lessee will pay interest free refundable security deposit


equivalent to INR 6,60,000 (Rupees Six Lac Sixty Thousand Only).

Remittance of Rental

Rent shall paid by the Lessee on or before 10th day of


each calendar month

Lease Tenure

9 years ( Initial term of 3year and the Lessee having an option to renew the
Lease for another 2terms of 3years each )

Lock-in-Period

12 Months from the date of commencement of Lease ..

Rent Escalation

There shall be an escalation of 5% on the last rent paid


after every 12 months

Notice Period

Lessee shall give 2 months notice prior vacating


post Lock-in-Period.

Fit out Period

Lessee is entitled to a rent-free fit out period of 18 days


commencing from Date of signing of LOI

Handover of Possession

Possession for commencement of fit-out shall be handed


over by the Lessor upon execution of LOI

Commencement of Lease & Rent:

Rent and Lease shall be commence w.e.f. 01.06.2015

Nature of Agreement

Lease agreement shall be signed by both the parties within


10 days from the date of signing of LOI.

Property/
Municipal Related Taxes

To be borne by the Lessor

Stamp Duty & Incidental


Expenses for Registration

To be borne equally by the Lessor and the Lessee

Electricity / Water & Sewer


and Maintenance Charges

To be borne by the Lessee

Security Deposit Schedule

Lessee shall remit Security deposit equivalent to


- INR 2,00,000/- on signing of LOI
- INR 4,60,000/- on execution of Lease Agreement

Electricity Load / Power Back-up:

LESSOR shall Provide Electricity Load & Power connection

Permission for Leasing of Premises :

Leasing Permission shall be taken by the LESSOR by the HSIIDC / Concerning


Authorities. The LOI or Lease Deed would be valid only subject to all the
statutory documents related to ownership of the property are in order.

Amenities

As is where is basis other than broken glasses, broken tiles, bathroom fittings
along with bathroom doors. Also the Doors, Windows, Glass, bathroom fittings
which are missing or broken should be repaired,
The work should be completed before the signing of the Agreement.

Enclosed is the part security deposit amount of INR 2,00,000/- vide Cheque no. . dated .
drawn on ______________________________________________.
Both the parties confirm their agreement to the above
Thanking you
Yours truly,

Agreed and Accepted:

______________________________
Sandeep Nanda - Director
for Benson Medical Equipments India Pvt. Ltd.
(LESSEE)

__ ___________________________
HEMANT BATRA
(LESSOR)

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