Hello,
I need advise w.r.t the renewal of Lease Agreement. The original Lease Agreement was executed in April 2013 in which there are Four Lessors and one Lessee and it is for a period of 2 years i.e. upto March 2015. In March 2014, Lessor No. 1, 2 & 3 have executed a Release Deed with respect to the leased property in favour of Lessor No. 4. All the documents like property extracts, etc., have been updated accordingly. Now Lessor No. 4 wishes to enter into a new Agreement with the same Lessee in his own name on the same T&C as in the original deed. I would like to know if it is possible even though the original agreement is still valid and had not expired? If yes, then in the new agreement should the reference of original Lease Deed is to be mentioned? Also what type of agreement would it be called as eg. Supplemental deed, Renewal Agreement? If anyone could provide the draft for such agreement, it would be greatly appreciated.
Thanking you
Vijay
