Sample Business Contracts


India-Hyderabad-Madhapur-5 Software Units Layout Lease - JVP Soft Private Ltd. and Kanbay Software (India) Private Ltd.

Lease Forms

  • Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
  • When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
  • Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
  • Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
  • When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.

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S. NO. 39015 Dt: 20/8/2003 Rs.100/-         05135     /s/ K. Rama Chandravathi
Authorized Party Maipal Reddy
s/o Yadi Reddy                                        K. RAMA CHANDRAVATHI
To Whom Kanbay Software (India) Pvt LTD               Authorized Party

                                   LEASE DEED

This Lease Deed ("Lease") is made and executed as of the 21st day of AUGUST 2003
by and between JVP Soft Private Limited, a Company within the meaning of the
Companies Act, 1956 and having its registered office at Plot # 5, Software Units
Layout, Madhapur, Hyderabad - 500 081 Represented through its authorised
signatory, Mr. Jayapal Reddy, Chairman (hereinafter referred to as the "Lessor"
) which expression shall where the context admits include its successors and
assigns of the ONE PART

And

Kanbay Software (India) Private, Limited, a Company within the meaning of the
Companies Act, 1956 and having its registered office at A-1, Technology Park,
MIDC, Talwade, Pune - 412 114, represented through its authorised signatory,
Mr. Manoj Menon. Vice President (hereinafter referred to as the "Lessee") which
expression shall where the context admits, include its successors and assigns of
the OTHER PART.

                                                         /s/ Jayapal Reddy

                                        a
<Page>

WHEREAS the Lessor had entered into an Agreement for Sale dated September 28th
1998 with Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC )
for purchase of land admeasuring 1.495 Acres which is equivalent to 7235.80
Square Yards in Plot No. 5 at Software Unit Layout, Phase 1, in Survey No. 64/2
of Madhapur Revenue Village, Serilingampalli Mandal, Ranga Reddy District,
Andhra Pradesh subject to the setting of a Software Development Unit on the said
land.

AND WHEREAS upon the Lessor setting up the Software Development Unit in terms of
the aforementioned Agreement for Sale, APIIC has conveyed the title to the land
admeasuring l.501 Acres which is equivalent to 7264.84 square yards situated in
Plot No. 5 at Software Units Layout, Phase I, in survey no. 64/2 of Madhapur
Revenue Village, Serilingampalli Mandal, Ranga Reddy District, Andhra Pradesh to
the Lessor through a Sale Deed dated May 31st, 2001 and registered as document
no. 3853 of 2001 in the office of the Joint Sub-Registrar - I, Ranga Reddy
District, Andhra Pradesh.

AND WHEREAS the Lessor has become the absolute owner of the property located at
Plot No.5, Software Units Layout, Madhapur, Serilingampally Municipality, Ranga
Reddy District (the "Property") which is free from all claims and encumbrances.

AND WHERAS the Lessor and the Lessee wishes to enter into a lease arrangement
for the "Demised Premises" as described in EXHIBIT "C" attached hereby with this
Lease Deed for the term and subject to the conditions and agreements herein
contained.

NOW THEREFORE, in consideration of the mutual promises and agreements set forth
in this Lease Deed together with the Exhibits and any Addenda attached hereto,
the Lessor and the Lessee agree as follows:

                                                               /s/ Jayapal Reddy

                                        b
<Page>

SECTION 1   EXHIBITS.

This Lease together with the Exhibits annexed hereto and hereinafter described,
are by reference incorporated herein and made a part hereof as though fully set
forth in the text of this Lease. The Exhibits consist of the following:

     Exhibit A - General Terms & Conditions

     Exhibit B - Special Terms and Conditions

     Exhibit C - Demised Premises

     Exhibit D - Operating Expenses

     Exhibit E - Definitions

     Exhibit F - Lessee Fixtures.

     Exhibit G - Milestones

SECTION 2   DEMISED PREMISES

(a)  The Lessor hereby demises and leases unto Lessee, and Lessee does take on
     lease from the Lessor, the office space admeasuring 13,900( Thirteen
     Thousand and nine hundred) square feet on the Ground Floor (South Side) of
     the building situated at #5,Software Unit Layout morefully described in
     Exhibit "C" hereunder and herein referred to as the "Demised Premises"
     together with easements, rights and advantages appurtenant thereof, for
     setting up their office premises together with the right of the Lessee, its
     employees, agents, contractors and servants to the use of the Demised
     Premises.

(b)  In consideration of the rent and security deposit to be paid on the part of
     the Lessee as provided in Section 4 and 5 hereunder respectively and of the
     covenants and conditions contained in the Exhibits annexed to this lease
     deed to be observed and performed by the parties hereto, the Lessor doth
     hereby grant and demise the Demised Premises to the Lessee for carrying out
     their business including using the Demised Premises for office under the
     name and title of M/s. Kanbay Software India Private Limited and/or any of
     the Lessee's subsidiaries/affliates or any other entity belonging to the
     Lessee's group in the field of Information Technology and/or Information
     Technology Enabled Services (ITES) initially for a term of eighteen (18)
     months (elaborately defined in section 4 hereunder) commencing from
     September 15th 2003 or the date of completion of all items as provided in
     Exhibit G to this Lease Deed which ever is later hereinafter referred to
     as the COMMENCEMENT DATE).

                                                               /s/ Jayapal Reddy

                                        c
<Page>

SECTION 3.  TERM & TERMINATION

(a)  This Lease and the parties' respective rights, obligations and liabilities
     hereunder shall be effective from the commencement date. The Lessor shall
     deliver free and vacant possession of the Demised Premises to the Lessee on
     the date of execution of this lease deed and the Lessee shall take
     possession subject to the Lessor providing:

          (i) Report on Title in respect of the Demised Premises showing free
          and clear title to the building housing the Demised Premises and
          independent verification of the same.

          (ii) "Provisional Occupancy Certificate" of the South Wing of the
          building premises comprising of the Ground Floor, First Floor and
          Second Floor to be issued by the Municipal Corporation of Hyderabad
          (MCH) or any other competent authority in this respect on or before
          November 15th 2003. In the event the Lessor is unable to provide the
          Occupancy Certificate on or before November 15th 2003, the Lessor
          shall have the right to suspend the payment of the Rent until the
          production of the Provisional Occupancy Certificate.

(b)  The term of this Lease shall be initially for a period of 18(EIGHTEEN)
     MONTHS commencing from the Commencement Date and ending at 11:59 p.m. on
     the last day of the eighteenth (18th) month of the Lease (the "Expiration
     Date"). The Lessee shall have the sole option to renew the lease for
     further period(s) on the same terms and conditions as mentioned herein
     subject to an increase in lease rent as mentioned in Section 4 below.
     However, in  the event, the Lessee continues to remain in possession of the
     Demised Premises only for 3 (three) months after the expiry of the initial
     period of 18 (eighteen) months, the increase in Lease Rent will not be
     applicable. The enhanced Lease Rent will be applicable from the
     19(nineteenth) month retrospectively in the event the period of Lease
     extends beyond 21(twenty one ) months from the commencement date.

(c)  In case, the Lessee intends to renew the lease for further period's beyond
     the initial 18 (eighteen) months, it shall do so by issuing a written
     notice of such intention to the Lessor at least 3 (three) months prior to
     the expiry of the Lease.

(d)  In the event the parties are not desirous of seeking extension of the Lease
     beyond the initial lease term then the Lessee shall hand over the
     possession of the Demised Premises in good condition subject to normal wear
     and tear, save and including the Lessee's Fixtures detailed in Exhibit F
     and on terms and conditions enumerated in

                                                               /s/ Jayapal Reddy

                                        d
<Page>

     section 3 e) to this lease deed. The Lessee clearly understands and agrees
     that the Demised Premises shall at all times be the property of the Lessor
     and shall not get transferred, at any time or at the end of the term of
     this Lease, to the Lessee.

(e)  The Lessor agrees to purchase from the Lessee, the Lessee's fixtures as
     specified in the Exhibit F for a consideration of Rs. 6,00,000.00 (Rupees
     six lakhs only) The Lessor shall make a payment of Rs. 5,99,999.00 (Rupees
     five lakh ninety nine thousand nine hundred and ninety nine only) on the
     first day after the completion of ten months of this lease deed and the
     balance amount would be paid on the day the Lessee terminates this lease
     deed and hands over the possession of the demised premises including the
     Lessee's Fixtures.

(f)  On or within one week of the commencement date of this agreement, the
     Lessor shall intimate in writing to the Lessee, certifying the completion
     of the all the milestones as provided in Exhibit G. The Lessee shall
     acknowledge the aforementioned letter of intimation, subject to
     verification of the completion of all the milestones provided in Exhibit G.
     In the event, the Lessor fails to intimate in writing to the Lessee within
     one week from the date of each milestone it shall be deemed that the Lessee
     has been unable to reach the milestones. Further in the event, the Lessee
     fails to acknowledge the said letter within 7(seven) days of delivery of
     the said letter to Lessee, it shall be deemed that milestones have been
     completed by the Lessor to the Lessee's satisfaction.

(g)  In the event of the failure of the Lessor to perform its obligation in
     terms of Exhibit G and section 3(f) above, the penalty clause as specified
     in Exhibit B, shall apply.

(h)  Either party can terminate the Lease after expiry of 12 (twelve) months
     from the commencement date by giving at least three (3) months notice, in
     writing to the other party.

(i)  Notwithstanding anything contained herein, in the event, either party
     commits any breach or fails to observe or perform any of the covenants,
     terms and conditions under this Deed or any exhibits forming part of this
     Deed, the aggrieved party shall have the option to forthwith terminate the
     Lease. This would be without prejudice to the other legal rights of the
     aggrieved party in respect of such breach by the party committing such
     breach.

                                                              /s/ Jayapal Reddy.

                                        e
<Page>

SECTION 4.  RENT

Commencing on the Commencement Date. Lessee covenants and agrees to pay to
Lessor a monthly rent as fol1ows:

     The Lessee has agreed to pay to the Lessor Rs. 25.00 (Rupees twenty-five
     only) per square feet per month with effect from the commencement date of
     the Lease towards the monthly rent for the Demised Premises in advance on
     or before the 15th day of each Lease month for which it is due subject to
     deduction of tax at source as may be applicable. However upon extension of
     the lease beyond 21(twenty one) months from the commencement date, the
     monthly rent will be enhanced to Rs. 27.00 (Rupees twenty seven only) per
     square feet up to the 30th (thirtieth) month from the commencement date of
     the Lease. In the event, the Lessee continues to remain in possession of
     the Demised Premises only for 3 (three) months after the expiry of the
     initial period of eighteen months, the increase in Lease Rent will not be
     applicable. The enhanced Lease Rent will be applicable from the 19th
     (nineteenth) month retrospectively in the event the period of Lease extends
     beyond 21(twenty one) months from the commencement date.

SECTION 5.  SECURITY DEPOSIT

(a)  The Lessee agrees to pay and maintain an amount equivalent of Four (4)
     months Rent for the Demised Premises as described in Section 4 amounting to
     Rs. 13,90,000.00 (Rupees Thirteen Lakh and Ninety Thousand only) to be paid
     to the Lessor at the time of execution of the Lease Deed on account of
     interest free refundable security deposit (hereinafter "IFRSD"). The Lessor
     shall be entitled to adjust the IFRSD against the rent payable for the
     notice period and the balance (unadjusted) amount of IFRSD shall be
     refunded to the Lessee simultaneously against the handing over of
     possession of Demised Premises on the expiry or earlier termination of the
     lease, as the case may be. However, the Lessee shall pay the Lessor,
     electricity, water and telephone usage charges pertaining to the Demised
     Premises up to handing over of the Demised Premises.

SECTION 6.  OPERATING EXPENSES

(a)  The Lessee shall pay the maintenance charges for the said facilities and
     amenities in proportion to the chargeable area i.e. the area admeasuring
     13900 square feet of the Demised Premises. However the Lessee shall not be
     liable to pay the maintenance charges for the first six months from the
     commencement date. The Lessee shall pay the maintenance charges at the rate
     of Re. 1.00 (Rupee one only) per square feet of chargeable area of the
     Demised premises per month for the second 6 (six) months of the Lease term
     and at the rate of Rs. 2.00 (Rupees two only) per square feet of chargeable
     area i.e. the area admeasuring 13,900 square feet of the Demised Premises
     per month for the last 6 (six) months of the initial period of Lease. In
     the event the Lessee continues after the expiry of the initial 18
     (eighteen) months of the Lease, the

                                                              /s/ Jayapal Reddy.

                                        f
<Page>

     Lessee shall pay the maintenance charges at the rate of Rs. 3.00 (Rupees
     three only) per square feet per month. However the increase in the
     maintenance charges will not be applicable, in the event, the Lessee
     continues to remain in possession of the Demised Premises only for 3 (three
     months) after the expiry of the initial period of 18 (eighteen) months. The
     enhanced maintenance charges will be applicable from the 19th (nineteenth)
     month retrospectively in the event the period of Lease extends beyond 21
     (twenty one) months from the commencement date.

(b)  The Lessee shall pay the monthly maintenance fees simultaneously with the
     lease rent in advance on or before the 15th day of each Lease month for
     which it is due. The Lessor to bear and pay the maintenance charges over
     and above the rates mentioned above in respect of the Demised Premises.

IN WITNESS WHEREOF, Lessor and Lessee have read and understood this Lease along
with the Exhibits attached and have executed the same in duplicate under seal as
of the day and year first above written.

Witnesses/attest as to Lessor:          LESSOR:

1. By     /s/ Srinivasa Murthy. A            By     /s/ Jayapal Reddy.

   Name   SRINIVASA MURTHY. A                Name   JAYAPAL REDDY

   Title  MANAGER                            Title  CHAIRMAN

2. By     /s/ Debanjan Banerjee

   Name   DEBANJAN BANERJEE

   Title  ADVOCATE

Witnesses/attest as to Lessee:               LESSEE:

1. By                                        By

   Name                                      Name

   Title                                     Title

2. By

   Name

   Title

                                        g

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