Premise definition
Examples of Premise in a sentence
Incase under any circumstances including the change of law or for public interest, the LESSOR may terminate the Lease Agreement by issuing a notice with three (3) months period from the date of issue of notice and based on that notice the LESSEE shall vacate the Property or Premise within notice period.
The LESSOR shall be entitled to take all lawful measures to remove the LESSEE from the Property or Premise also to prevent the LESSEE, its servants and agents, from entering the Property or Premise or any part thereof provided.
The LESSEE shall alone be liable to bear and pay the present and future Municipal Tax, Property Tax, Assessments, Cess, Maintenance Charge and all other duties and taxes levied under any law for the time being in force or as may hereafter be imposed in respect of the Property or Premise and constructions thereon, and the LESSOR has duly paid the same till the date of hand over of possession of the Property or Premise to the LESSEE.
The LESSEE will have leasehold and possessory rights during the tenure of the lease on the Property or Premise which shall be enjoyed and exercised in accordance with the permitted purpose of the lease provided in this Lease Agreement and subject to the regular and timely payment of lease rent.
The LESSOR shall issue a Letter of Intent (LOI) to LESSEE, informing it’s intent and readiness to hand over the Property or Premise free from encumbrance for carrying out the purpose mentioned in the Lease Agreement prior to the execution of this Lease Agreement.