LICHFL

Rental Securitisation
TRIPARTITE AGREEMENT

THIS AGREEMENT executed at ________ the _____ day of _____ 20__ amongst

LIC HOUSING FINANCE LIMITED, a company incorporated under the Companies

Act,1961 having its Registered and Corporate Office at Bombay Life Building, 45/47
Veer Nariman Road, Mumbai 400 001, and one of its Area Office at
______________________________ (hereinafter referred to as “LICHFL” which
expression shall include the successors and assigns) of the FIRST PART.

AND

_______________________________________________________ (hereinafter
referred to as “the Lessee / Licensee” which expression shall unless excluded by or
repugnant to the context, be deemed to be included his / her / their heirs, executors,
administrators and legal representatives) of the SECOND PART.

AND

Shri ----------,a Director/Authorised signatory of M/s _________ Ltd., a Company

registered under the Companies Act, 1956, having its registered office at
______________ , (hereinafter referred to as “Borrower”)

[to be used in case Borrower is a Company] of the THIRD PART

OR

M/s._________, a Partnership firm carrying on its partnership business under

Partnership Act, 1932 and having its office at ________, comprising of the following
partners (hereinafter referred to as ”Borrower”)

(i)
(ii)

[to be used in case Borrower is a partnership firm] of the THIRD PART

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OR

Mr. / Mrs. __________ residing at ________. (hereinafter referred to as “Borrower”)

[to be used in case Borrower is an Individual] of the THIRD PART.

WHEREAS by and under the Lease Deed / Leave and License Agreement (“Deed” or
“Agreement”) dated _________ executed by the Borrower and the Lessee / Licensee
on the ________ day of ______ and Registered Vide Document No.________ Book
No. ________ Page No. ________ dated _________ at the Sub-Registrar office, the
Borrower has given on Lease / License to the Lessee / Licensee the Premises owned
by the Borrower, situated at
______________________________________________ more particularly
described in the Schedule hereunder written and hereinafter referred to as “the said
Premises”, on the terms and conditions therein contained for a period of ________
years with effect from ________ on a monthly rent / license fee / charges of Rs.
___________

AND WHEREAS the Borrower has requested LICHFL to grant certain Loan facilities
(“Loan”) of Rs. _________ to the Borrower and LICHFL has agreed to grant the said
Loan on the terms and conditions, set out in the Loan Agreement (“Loan Agreement”)
dated ______. The present EMI payable on the Loan by the Borrower to the LICHFL
shall be Rs.___________ due on 1st of every month.

AND WHEREAS the Borrower has, requested the Lessee / Licensee to remit the
monthly rent / License fee / License fee of Rs. _______________ regularly to LICHFL
on behalf of the Borrower with effect from _________________ (Date) by Cheque /
Demand Draft and has requested LICHFL to adjust the same amount towards EMI for
repayment of the said Loan, together with interest, availed of by the Borrower till such
time the entire dues are repaid in full.

AND WHEREAS the parties hereto wish to reduce their understanding into writing

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NOW THIS DEED WITNESSETH AS FOLLOWS:

In consideration of the said amount of Loan of Rs.__________ being granted / agreed

to be granted by LICHFL and the Borrower availing the said Loan and in consideration
of the Loan dues and any money payable under the Loan by the Borrower to the
LICHFL, the Borrower doth hereby authorize and empower LICHFL to demand and
receive directly from the Lessee / Licensee the monthly rent / License fee in respect
of the said Premises payable by the Lessee / Licensee to the Borrower and such
payment by the Lessee / Licensee to LICHFL shall be considered by the Borrower as
proper payment of rent / License fee made by the Lessee / Licensee to the Borrower
in accordance with the terms and conditions of Deed / Agreement in respect of the
said Premises. .

The Lessee / Licensee agrees to pay monthly rent / License fee of Rs.___________
in respect of the said Premises directly to LICHFL. The authorization and the power
given herein to LICHFL to demand and to receive and Lessee / Licensee to pay
monthly rent / License fee is irrevocable and that the payment of the rent / License
fee to LICHFL as aforesaid shall be made until the time LICHFL inform the Lessee /
Licensee in writing that the Agreement for direct payment of rent / License fee hereby
agreed upon, has come to an end, and thereafter the Lessee / Licensee shall resume
payment of the full monthly rent / License fee in respect of the said Premises directly
to the Borrower.

That the Borrower shall take care that the Lessee / Licensee shall remit the required
amount to LICHFL on the first of every month. In the event of non-receipt of EMI
payment due to non payment of the rent / License fee by the Lessee / Licensee to the
LICHFL, as agreed upon or on account of dishonor of cheque issued by the Lessee /
Licensee, the LICHFL shall intimate the same to the Borrower. In such an event the
Borrower shall be liable to pay the EMIs in respect of those payments not received
unrealized by it with additional interest @ 2% p.m. on the outstanding EMIs from the
due date of such EMIs till the date of its receipt by LICHFL.

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That if the Deed/Agreement is not renewed and the said Premises is leased / licensed
out to some other party, then it would be the responsibility of the Borrower to get similar
agreement executed in favour of LICHFL failing which LICHFL has got the right to
recall the entire Loan without prejudice to its other rights and remedies.

That if the said Premises remains vacant or otherwise then the Borrower shall pay the
EMI of loan in cash / or by cheque / DD and any default in it would be governed by the
Terms and Conditions of the Loan Agreement.

The termination of lease Deed / License Agreement by any one of the party i.e. Lessee
/ Licensee or Borrower shall be intimated to the LICHFL at least __ days in advance.

It is hereby agreed and understood that , in the event of the rent / License fee payable
by the Lessee / Licensee to the Borrower in accordance with the terms and conditions
of this Agreement, becoming the subject matter of any suit, claim, demand or lawful
interruption for whatever reasons, deprives LICHFL from receiving the rent / License
fee directly from the Lessee / Licensee as herein envisaged, LICHFL shall be entitled,
at its sole discretion to terminate this Agreement forthwith by notifying the Borrower
and the Lessee / Licensee, and there upon the Borrower shall become entirely liable
and responsible for the repayment of the said loan directly to LICHFL, in the manner
indicated by LICHFL.

Upon the entire Loan amount and the interest thereon becoming fully paid up, LICHFL
shall issue a certificate in duplicate discharging the Borrower from the liabilities
regarding the said Loan and shall serve the original of the said discharge certificate to
the Borrower and the duplicate thereof to the Lessee / Licensee and thereupon this
Agreement shall stand automatically discharged in all respects.

No delay in exercising or omission to exercise, any right, power or remedy accruing

upon any default under the LOAN or any other Agreement or document shall impair
any such right, power or remedy nor shall be construed to be a waiver thereof or any
acquiescence in such default; nor shall the action or inaction of LICHFL in respect of

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any default or any acquiescence by it in any default affect or impair any right, power
or remedy of LICHFL in respect of any other default.

This Agreement and all documents executed under / in relation to this Agreement shall
be governed by and construed in accordance with the laws of India. Any disputes
arising under / in relation to this Agreement shall be subject to the non-exclusive
jurisdiction of the Indian Courts at __________.
The Lessee/ Licensee agrees to allow the LICHFL or any authorized person by them
to enter or inspect the building and inspect the condition of the same, at all ordinary
business hours.
The Lessee/ Licensee and Borrower agrees to intimate to LICHFL before initiating any
legal proceedings against each other or against third person.
The Lessee/ Licensee and Borrower agrees to take care of the property as man of
ordinary prudence would have taken ,not to damage the same and if so accidentally
damaged then repair it at his/ their own cost.
The Lessee/ Licensee and Borrower agree not to make such use of the property which
would diminish the value or life of the property.
The Lessee/ Licensee and Borrower agree not to make such use of the property which
would be against the public policy or public safety.
Any notices or other communications required or permitted in terms of these presents
shall be deemed to have been duly served (a) if delivered in person; or (b) if sent by
registered or certified mail, return receipt requested, and addressed as follows:
If to LICHFL
Kind Att: Mr. _____

If to LICENSEE:
Kind Att: Mr. _____

If to the LICENSORS:
Kind Att: Mr._______

If to Borrower

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Kind Att: Mr._______

or if sent to such substituted address as any of the Parties has given to the others in
writing in accordance with this Article.

This Agreement may be executed in any number of counterparts, and this has the
same effect as if the signatures on the counterparts were on a single copy of this
Agreement.

IN WITNESS WHEREOF THE PARTIES HERETO have hereunto set and subscribed
their respective hands and seals the day and year first hereinabove written.

SCHEDULE ABOVE REFERRED TO

SIGNED SEALED AND DELIVERED BY

LICHFL in the presence of
____________________
___________________

SIGNED SEALED AND DELIVERED BY

THE LESSEE / LICENSEE in the presence of
_________________________

SIGNED SEALED AND DELIVERED BY BORROWER

in the presence of

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