Agreement between Owner of a Site and Advertising Agency
| Updated at | March 2010 |
AGREEMENT is made at... this... day of... between Shri..... of... hereinafter referred to as the 'Owner' of the One Part and....... Co. Ltd., a company registered under the Companies Act, 1956, and having its registered office at... hereinafter referred to as the 'Licensee' of the Other Part;
WHEREAS --
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The Owner owns a piece of land situate at... and bearing S.No... admeasuring about... sq.metres and it is a site near and facing the High Way No...
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The Licensee has requested the Owner to allow him to put up a hoarding on the said site for displaying advertisements of its customers and which the Owner has agreed to do on the following terms and conditions agreed upon between the parties.
NOW IT IS AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS:
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The Owner agrees to grant and hereby grants license to the Licensee to put up a hoarding or board on the said site at the place marked by letters A & B on the site-plan hereto annexed. The board of the hoarding as well as the frame of the hoarding will be... in length and... in breadth and... in height. The hoarding will be put up facing the said road.
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The frame or the support on which the hoarding will be fixed will be strong and not easily removable but not permanently fixed and shall not occupy more than... sq.feet of the area of the site.
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In consideration of the Owner granting the license the Licensee shall pay by way of compensation or license fee, to the Owner a sum of Rs... per month to be paid in advance on or before the 10th day of each English Calender month.
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The Licensee shall also deposit with the Owner a sum of Rs... which will be refundable to the Licensee on the termination of this agreement, without interest but subject to deduction of any amount due and payable by the Licensee under the terms of this agreement or in law. In the event of any such adjustment being made during the subsistence of this licence the Licensee shall make up the deficit in the deposit amount forthwith on demand.
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All rates and taxes payable to the local or any other authority for putting up the hoarding will be paid by the Licensee regularly and if the Owner is required to pay the same as such owner, he will be entitled to adjust the same against the said deposit, without prejudice to the right of the owner to cancel this agreement for breach of any term hereof. The land revenue in respect of the said site will be paid by the Owner.
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The hoarding shall be put up at the cost of the Licensee and the...
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