REVENUE SHARE LEASE DEED
This Revenue Share Lease Deed (this "Deed") is made at Chandigarh on 3 April 2026.
BETWEEN
Trishala Malls Private Limited, an individual, of SCO 44-45, Sector 8-C, Chandigarh 160009, PAN AABCT4321M, acting through Manpreet Sidhu, Director, authorised by board resolution dated 2 March 2026 (the "Lessor", which expression includes its successors in interest and permitted assigns);
AND
Northline Foods Private Limited, an individual, of Plot No. 21, Industrial Area, Phase 2, Chandigarh 160002, PAN AAECN6789P, acting through Aditi Verma, Director, authorised by board resolution dated 4 March 2026 (the "Lessee", which expression includes its successors in interest and permitted assigns).
The Lessor and the Lessee are each a "Party" and together the "Parties".
RECITALS
A. The premises described in Schedule I are referred to in this Deed as the "Premises". The Premises are situated at Chandigarh, in the State of Punjab, forming part of Trishala High Street Mall. The Lessor is the absolute owner of the Premises.
B. The Lessee has requested a lease of the Premises for its business, on terms under which Rent is computed wholly or partly by reference to the Lessee's sales from the Premises, and the Lessor has agreed to grant one on the terms set out below.
C. The Parties intend this Deed to create a lease within the meaning of s.105 of the Transfer of Property Act, 1882, transferring to the Lessee the right to exclusive possession of the Premises for the Term, and not a licence, notwithstanding that part or all of the Rent is computed as a share of the Lessee's sales.
D. The Term of this lease exceeds one year and reserves a yearly rent. The Parties accordingly execute this Deed as a registered instrument, as s.107 of the Transfer of Property Act, 1882 requires, and shall have it registered under s.17(1)(d) of the Registration Act, 1908.
E. Three provisions of this Deed each identify the place in which the Premises lie — Recital A and Schedule I, the stamp duty computation in clause 23.2, and the rent statute identified in clause 25.1. The Parties confirm that they have read those three provisions together before executing this Deed and that each of them describes the same jurisdiction.
NOW THIS DEED WITNESSES as follows.
- 1. DEFINITIONS
1.1 "Commencement Date" means 4 April 2026.
1.2 "Term" means the period stated in the Grant clause.
1.3 "Rent Commencement Date" means the Commencement Date, unless a rent-free fit-out period is stated in the Rent clause, in which case it means the date stated there.
1.4 "Rent Structure" means the basis on which Rent is computed, stated in clause 3.2.
1.5 "Fixed Rent" means the amount stated in clause 3.3, payable only where the Rent Structure is the Base-Rent-plus-threshold option or the Minimum-Guarantee option in clause 3.2. There is no Fixed Rent where the Rent Structure is the pure revenue-share option.