LICENSE AGREEMENT
THIS LICENSE AGREEMENT (this ‘‘agreement’’) effective as of [DATE], is entered into by
and between PLAY BISTRO & DESSERTS MANAGEMENT of address [ADDRESS]
(hereafter “Licensor”), and [NAME] of address [ADDRESS] (hereafter “Licensee”).
WHEREAS the Licensor is in the business of [STATE NATURE OF BUSINESS, THE NAME
OF THE RESTAURANT AND ITS LOCATION]]
WHEREAS The licensor has agreed to provide to the licensee for commercial utilization the
licensing rights of licensed space of Restaurant on payment of advance on “as is where is basis”,
herein after referred to as “Restaurant”, on payment of Advanced License Fee along with
applicable taxes and interest free Security Deposit (SD) and other charges to Licensor on the
terms and conditions hereunder contained in this License Agreement.
WHEREAS the Licensee shall commission, manage, operate, maintain and vacate the licensed
space allotted to them at [LOCATION OF THE RESTAURANT] as specified in this Agreement
at its own cost.
NOW, THEREFORE, in consideration of the premises, and of the mutual promises and
undertakings herein contained, the parties, intending to be legally bound, do agree as follows:
- OBLIGATIONS OF THE LICENSEE
1.1 Licensee hereby assumes responsibility for licensed space of Restaurant.
1.2 Licensee shall be responsible to manage, operate, maintain and the vacate Licensed Space
as specified in this Agreement at its own cost. All the alterations, installations, operations
and formats proposed by the Licensee are subject to approval by the Licensor with regard
to operational feasibility, aesthetics, and safety and security concerns.
1.3 Licensee irrevocably agrees to make all payments including license fee, common area
maintenance charges and other amounts due to the Licensor as per this Agreement as and
when due, without delay or demur, without waiting for any formal advice from The
Licensor in this regard.
1.4 The Licensee confirms having examined the potential location of the Licensed Space in
detail and fully understands and comprehends the technical and operational requirements
of the Restaurant. The Licensee also confirms full satisfaction as to the business viability
of the licensed space and hereby voluntarily and unequivocally agrees not to seek any
claim, damages, compensation or any other consideration, whatsoever on this account.
Licensee also confirms having made independent assessment of present and future
market potential and no future claim what so ever regarding change in market
circumstances shall be used by it as an alibi or excuse for non-payment of license fee and
other amounts due to the Licensee under this License Agreement.
- TERM
This Agreement is a 5- year license agreement unless otherwise agreed upon in writing. - CONSIDERATION
The Licensee agrees that upon signing of the engagement letter, a fee of $5000 shall be paid. The
first half of licensing fee shall be due in 15 days. The second half shall be due at the signing of
the licensing agreement. First license fee shall be due 1 month after opening.
- SUB-LICENSING
Any sublicensing must be approved by PLAY BISTRO & DESSERTS MANAGEMENT. - INSPECTION RIGHTS
The licensor reserves the right to inspect the premises at any time. - FORCE MAJEURE
Neither party shall be under any liability for any loss or for any failure to perform any
obligation hereunder due to causes beyond its control including without limitation
industrial disputes of whatever nature, acts of God, or any other cause beyond its
reasonable control.
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- TERMINATION AND DISPUTES
7.1 Both Parties to this Agreement may terminate this Agreement, without prejudice to any
other remedy either Party may have, immediately without further obligation to the other
Party, in the event of any material breach of this Agreement that cannot be remedied
within a reasonable time following a notice by one party of the breach.
7.2 The party intending to terminate this agreement must write a 90 day notice in advance to
the other party.
7.3 Termination shall not relieve Licensee’s obligation to pay all amounts which are due and
payable or which Licensee has agreed to pay.
7.4 Except as otherwise specifically agreed in writing by the Contractor and the Company,
any dispute relating to any rights and/ or obligations arising from this Agreement shall be
resolved through mediation. Play Bistro & Desserts Management shall appoint a
mediator for purposes of this section. However, any dispute which is not resolved by the
parties shall be adjudicated by any court of competent jurisdiction. - VALIDITY
If any part of this Agreement is held to be illegal or unenforceable, the validity or
enforceability of the remainder of this Agreement shall not be affected.
- BINDING AGREEMENT
This Agreement will be binding upon and inure to the benefit of the parties hereto, their
respective successors and assigns. Licensee may not assign its rights or obligations under
this Agreement without the prior written consent of Licensor. - NO WAIVER
Failure by either party to exercise any right or remedy under this Agreement does not
signify acceptance of the event giving rise to such right or remedy. - GOVERNING LAW
This Agreement shall be deemed to have been executed in [STATE/PROVINCE] and
will be governed by and construed in accordance with the laws of
[STATE/PROVINCE]. The parties hereby consent to the jurisdiction of the courts of
[STATE/PROVINCE] for the purpose of any action or proceeding brought by either of
them in connection with this Agreement. - ATTORNEYS’ FEES
Licensee shall be responsible for Licensor’s reasonable attorneys’ fees associated with the
enforcement of the terms of this Agreement or the collection of any amounts due under
this Agreement.
In Witness whereof the parties hereto have caused this agreement to be signed in their
respective hands as of the day and year first before written
NAME___________________________________
SIGNATURE_______________________________
(LICENSOR)
NAME__________________________________
SIGNATURE ____________________
(LICENSEE)
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