Exhibit 10.10
Agreement for Lease
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Agreement between Xxxxx Xxxxxxxx residing at 000 Xxxxx Xxxx, Xxxxxxxxxx,
Xxxxxxxxxxxx, 00000, X.X.X. and Xxxxx Xxxxxxx residing at 0000 Xxxxxxxx Xxxxx,
Xxxxxxxxxx, Xxxxxxxxxxxx, 00000, X.X.X. (hereinafter jointly referred as
"Owners") of the one part and Mascot Systems Pvt Ltd Company registered under
the Indian Companies Xxx 0000 and having its registered office at Xxxx Xx. X-
000, Xxxxx III, Software Technology Park, KSSIDC Complex, Electronic City,
Bangalore-561 229 (hereinafter referred to as the "Lessee') of the other part.
WHEREAS, Xxxxx Xxxxxxxx and Xxxxx Xxxxxxx are the joint owners of the office
premises at 401 to 410 of Mittal Towers, "C" Wing, Xxxxxxx Xxxxxx Road,
Bangalore (hereinafter referred to as "the said premises")
WHEREAS, Mascot Systems Private Limited (hereinafter referred to as "Lessee") is
desirous of taking the said premises and the Owners have agreed to lease the
said premises to the Lessee.
NOW, it is therefore, agreed that
1. The Owners shall give the said premises on lease to the Lessee for a period
of three years commencing from the Sixteenth day of January 1995. The
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agreement may be renewed for further periods as may be agreed by the
parties in writing.
2. Lessee will pay Owners a monthly compensation of Rs 20,000/- (Rupees twenty
thousand only) exclusive of outgoings.
3. Lessee shall pay all maintenance charges, water charges and other charges
payable relating to the said premises occupied by the Lessee during the
lease period as determined presently by the builders and thereafter by the
Association or society of office owners.
4. Lessee shall not make any additions or alternations in the above premises
without the consent of the Owners.
5. Lessee shall use the said premises strictly for its business and shall not
violate the rules and regulations of the Society.
6. Lessee shall allow Owner or Owner's authorized representatives to inspect
the said premises at all reasonable times.
7. Lessee shall not sub-let the said premises without Owner's written
permission.
8. The Owners may at their option terminate the lease by giving Lessee a
notice of not less than three months and the Lessee shall on the expiry of
the said period of notice hand
over vacant and peaceful possession of the said premises to the Owners'
authorized representative.
In witness whereof the parties have set their respective hands and seal on the
Second day of January, 1995.
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Signed and delivered by the within named
Xxxxx Xxxxxxxx
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Signed and delivered by the within named
Xxxxx Xxxxxxx
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Signed and delivered by V.V. Kumar
Executive Director of Mascot Systems (P) Ltd
and the common seal of the company was
Affixed in his presence.
