A video tenant lease is a type of lease in which the lessor rents some video equipment to the lessee for specified purposes. The lease document contains all the information regarding the rent, security, duration, and all other important points regarding the lease. It should be approved by law.
Sample Video Tenant Lease
The A.P. video hereinafter known as the lessor leases some of its video equipments to the R.P. Studio hereinafter known as the lessee for a period of 5 years under the following terms and conditions.
- The following are the leased items which come under the review of this agreement and costs $5000000.
a) 12 projectors
b) 12 screens
- The lease shall commence on 1st July 2012 and end on 30th June 2017.
- In return for using the equipments the lessee shall pay an amount of $30,000 every month till the agreement is in force. The first rent payment is due on 29th June 2012 and thereafter the rent will be payable on the 8th day of each month in advance.
- The payment shall be made in cash.
- The lessee shall pay a security deposit of $ 2million which shall be refundable at the expiry of the lease.
- The leased equipments shall be used by the lessee for screening the movies in a four screen multiplex in New York and will be operated by designated professionals.
- Lessor shall be the in charge for maintaining the equipments leased in routine during the term of the agreement.
- This contract will be under the jurisprudence of the High Court of New York.
- Both the parties have a right to terminate the agreement without cause by giving a sixty days notice to each other. The notice should be written with the signature of the lessee or lessor whoever is writing.
- The equipments should be surrendered to the lessor in the same present condition; normal wear and tear is acceptable.
Signature of lessor Signature of lessee