An advertisement tenant lease is a lawful agreement between a company having space for advertising such as billboard companies etc. and the business that wants to advertise its products and services. The main purpose of the contract is to provide each of the party with the term and conditions to be followed. These lease agreements are legal in nature.
Sample Advertisement Tenant Lease
This agreement is made on 24th June 25, 2012 between Marko Ltd. hereinafter known as the lessor and Deccan Ltd. known as the lessee under the following terms and conditions.
- Lessor hereby lease to the lessee the billboard located at 345, bond street, London, United Kingdom for the purpose of outdoor advertising
- The duration of the lease shall be of 5 years and end on 24th June 25, 2017.
- The lessee shall pay an annual rent of 1, 20,000 pounds payable in 12 installments of 10, 0000 pounds each due each month on the first day.
- The lessee shall have a right for renewal of this lease for additional two years on the same conditions except for the rent clause which will be negotiated and agreed 2 months prior to the expiry of the lease.
- The leased property shall be used solely for the purpose of operation, construction and maintenance of outdoor advertisement display. The lessee possess the right to upright, situate and maintain marketing sign structures and devices on the leased premises to place, paint, light up and retain and maintain advertisement on such structures. These structures shall be the property of the lessee and shall be removed by him as per his will.
- The lessee shall have a right to terminate the lease giving a written notice to the lessor 30 prior.
The lease agreement is acknowledged by the undersigned and agrees to be penalized on the violation of any term and conditions agreed.
Signature of the Lessor Signature of the Lessee