Exhibit 10.30
[ONE HUNDRED RUPEES GRAPHIC]
RENT AGREEMENT
This lease is made on this day of 1st August, 2001 between M/s ROSHAN POLYMERS
LIMITED through their authorized signatory SH. XXXXXX XXXXXXXXX (DIRECTOR) X/X
000 xxxxxx-00X, XXXXX hereinafter called the Lessor which expression shall
include his legal heirs & legal representatives and assigns, successors and
administrator on the ONE PART and M/s VIRAGE LOGIC INTERNATIONAL (Branch office
of VLI USA in India), through their authorized signatory Mr. Xxxx Xxxxx (Vice
President & General Manager) X/X X-000, Xxxxxx-00, XXXXX, called the Lessee,
which expression shall include their successors, legal representatives and
assigns and administrators on the SECOND PART.
WHEREAS the lessor and absolute owner of the premises bearing XX. X-00,
XXXXXX-00, XXXXX, XXXXX. XXXXXX XXXX XXXXX, X.X. measuring 1220s/mtr. with
absolute right to let out the premises and whereas the lessor has agreed to let
out the entire building consisting basement, ground floor, first floor and
second floor to the lessee M/S Virage Logic International.
AND WHEREAS the lessee agreed to take the above premises on rent belonging to
the lessor for the use of the lessee w.e.f. 1st August, 2001.
For Roshan Polymers Limited VIRAGE LOGIC INTERNATIONAL
LESSOR LESSEE
/s/ XXXXXX XXXXXXXXX /s/ XXXX XXXXX
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Director Authorized Signature
NOW THEREFOR IT IS AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS:
a) That the rent shall be Rs.3,12,000/- (Three Lacs Twelve thousand only) per
month.
b) The rent shall be subject to an increase of 10 (ten) percent per annum.
c) The rent start from 1st August, 2001.
d) The rent shall be paid in advance by 7th of the calendar month.
1. That the lessee has paid to the lessor Rs. Twenty Five lacs
(Rs.25,00,000/-) as interest free security as follows:
- Xx.Xx. 993352 dt. 29/06/01 for Rs. 2,00,000/-
- Ch No. 993357 dt. 04/07/01 for Rs. 3,00,000/-
- Ch No. 993376 dt. 12/07/01 for Rs. 7,50,000/-
- Ch No. 993398 dt. 01/08/01 for Rs. 12,50,000/-
2. That the security deposit shall be required in full by the lessor to the
lessee or his authorized representative immediately on giving back the
vacant possession of the said premises.
3. That the period of lease granted by the lessor to the lessee for the demised
premises has been agreed to be eight (8) years and thereafter the agreement
can be extended for further period of (3) three years with mutual consent
and on such terms & conditions as may be mutually agreed upon.
4. That the lessee shall be entitled to terminate the agreement after three (3)
years of the agreement signed upon serving two months prior notice.
5. That the default in payment of monthly rent by the lessee to the lessor for
consequent 3 months will lead to termination of the rent agreement.
6. That the lessor shall provide electricity load connection of 150KVA to the
lessee. The electricity connection shall be in the name of lessee and the
lessee shall pay the actual cost incurred to the authorities concerned.
7. That the lessor shall get the rent permission from the concerned authority
and the lessee shall bear the actual cost.
8. That in case of any major repairs such as leakage of water, bursting of
sanitary pipes or any damages to the structure due to rain or other causes
(not attributable to misuse or negligence on the part of lessee), the same
shall be attended to and effected by the lessor at his own cost as soon as
possible.
For Roshan Polymers Limited VIRAGE LOGIC INTERNATIONAL
/s/ XXXXXX XXXXXXXXX /s/ XXXX XXXXX
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Director Authorized Signatory
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9. That all the rules, regulations, laws by-laws of the local authority
having jurisdiction over the demised premises have been compiled by the
Lessor. That should there be any further actions required to satisfy such
laws the same shall be cone by the lessor at his own cost.
10. That the lessor shall bear all the charges pertaining to property / real
estate tax or local tax etc. levied by the concerned authorities.
11. IN WITNESS HEREOF THE PARTIES HERETO have set their respective hands on
the present on the date, month and year herein above first mentioned on
the presence of the following witness:
Witness: 1. SANJEVAN NEZI LESSOR For Roshan Polymers Limited
[Illegible]
[Illegible] /s/ XXXXXX XXXXXXXXX
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Director
2.
LESSEE VIRAGE LOGIC INTERNATIONAL
/s/ XXXX XXXXX
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Authorized Signatory
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