EXHIBIT 10.9
AGREEMENT FOR LEASE
-------------------
AGREEMENT between Xxxxx Xxxxxxxx residing at 000 Xxxxx Xxxx,
Xxxxxxxxxx, XX 00000, U.S.A., and Xxxxx Xxxxxxx residing at 0000 Xxxxxxxx Xxxxx,
Xxxxxxxxxx, XX 00000, X.X.X. (hereinafter jointly referred to as "Owners") of
the one part and Xxxxx Systems Private Limited a Company registered under the
Indian Companies Act, 1956 and having its registered office at Xxxxxxxx
Xxxxxxxx, Xxxxx Xxxxx Xxxx, Xxxx 000 000 Xxxxx (hereinafter referred to as the
"Lessee") of the other part.
WHEREAS, Xxxxx Xxxxxxxx and Xxxxx Xxxxxxx are the joint owners of the
building known as "Mastech Centre" situated at 00, Xxxxx Xxxxx, Xxxxxxxx, Xxxx,
Xxxxx, which consists of about 32500 square feet of built up area nearing
completion (hereinafter referred to as "the said building").
WHEREAS, Lessee is desirous to take on lease from the Owners'
completed office premises and measuring about 7500 square feet built up area on
the first floor of the said building (hereinafter referred to as "the said
premises").
WHEREAS, 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 for three years commencing from September 1, 1997. The agreement
may be renewed for further periods as may be agreed mutually by the parties in
writing.
2. For the period from September 1, 1997 to August 31, 1998, Lessee
will pay Owners a monthly compensation of Rs. 75000 (Rupees Seventy-Five
Thousand only) exclusive of outgoings. The said compensation shall be paid by
the Lessee by two cheques / demand drafts for Rs. 37500 each, drawn in favor of
the individual owners namely Xxxxx Xxxxxxxx and Xxxxx Xxxxxxx. The lease rent
will be reviewed on September 1, 1998, and the lease rent beginning from that
date shall be mutually agreed between the parties.
3. Lessee shall pay all rates and taxes to the central, provincial
or local authorities, maintenance charges and other charges payable relating to
the said premises occupied by the Lessee during the lease period.
4. Lessee shall not make any additions or alterations in the above
premises without the consent of the Owners.
5. Lessee shall hand over the vacant and peaceful possession of
the premises to the Owners forthwith upon the expiry of the lease period unless
the lease has been renewed in writing.
6. Lessee shall use the said premises strictly for its business
and shall not violate the rules and regulations relating to the building,
Society or other applicable laws.
7. Lessee shall allow Owner or Owners' authorized representatives
to inspect the said premises at all reasonable times.
-2-
8. Lessee shall not sub-let the said premises without Owners'
written permission.
9. 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 or to Owners' authorized representative.
IN WITNESS WHEREOF the parties have set their respective hands on the
28th day of October, 1997.
Signed and delivered by the withinnamed
Xxxxx Xxxxxxxx in the presence of
------------------------------------------
Signed and delivered by the withinnamed
Xxxxx Xxxxxxx in the presence of
------------------------------------------
Signed and delivered by Xxxxxx Xxxxxxxxx,
Managing Director of Xxxxx Systems Private
Limited in the presence of
------------------------------------------
-3-
