SARITA SHIVARAMAN (service) 10 November 2011

Leave and license agreement

Our Company has already entered in to Leave and License Agreement with the Licensor for Flat at Mumbai.Now our company's name has been changed due to certain reasons.We want to inform the Licensor that for the balance period of approx.2 years or so, the compensation amount will come from different company. Whether, a fresh leave and License agreement has to be entered and what clauses has to be incorpored, and or we have to terminate the agreement.Please guide, and send me the Format.It is urgent.

Thanks.

( Sarita S )

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4 Replies

Rajesh Hazra (Mediator and Legal Counsel ) 10 November 2011

Sear Sarita,

You need to execute a fresh Leave and License with the proper termination of the existing one as per the agreed terms of the executed License. Prepare the new License based opon the old Leave and License.

Regards

Sanjay (Genl Manager) 10 November 2011

Was there any clause in the leave and license agreement which had taken care of such sotuation. whereby the parent could assign the interests in the agreement to another party. If so with agreement from the leasor the lesee can probably try to continue. but again someone from legal fraternity may please add light here as to the exact clause and the issue of an amendment/ addendum to the agreement.

SARITA SHIVARAMAN (service) 11 November 2011

Mr.Hazra

If you can send me the draft Fresh Leave and License Agreement, it will be helpfull.As the Licensor will not agree to the fresh agreement being the reason of the newly formed company.The licensor may terminate the agreement. Our newly formed company has thought of increasing the compensation, for the balance period of agreement.Which way, we can incorporate in the agreement, pelase guide.

Thanks

( Sarita S )