ATM SPACE LEASE AGREEMENT
This ATM Space Lease Agreement (this "Lease") is made at Chandigarh on 2 April 2026.
BETWEEN
Bhandari Properties Private Limited, an individual, of SCO 88, Sector 40-C, Chandigarh 160036, PAN AAFCB5678K, acting through Rohan Bhandari, Director (the "Lessor", which expression includes its successors in interest and permitted assigns);
AND
Sarovar Finance Bank Limited, a banking company licensed by the Reserve Bank of India under the Banking Regulation Act, 1949, of Regional Office, SCO 212-214, Sector 34-A, Chandigarh 160022, PAN/GSTIN AABCS1234F, acting through Neha Kapoor, Zonal Manager, Alternate Channels (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 Lessor is the owner of, or is otherwise entitled to let, the building or property known as SCO 88, Sector 40-C, Chandigarh, situated in the State of Punjab.
B. Within that building or property, the Lessor has agreed to let to the Lessee, and the Lessee has agreed to take on lease, a defined and exclusively demarcated space described in Clause 1 (the "Site"), for the sole purpose of installing, operating and maintaining an Automated Teller Machine.
C. The Parties record the terms of that lease in this Agreement.
NOW THIS LEASE WITNESSES as follows.
- 1. THE SITE AND PERMITTED USE
1.1 The Lessor lets to the Lessee, and the Lessee takes on lease from the Lessor, the space described as: the enclosed kiosk of glass and aluminium partitioning at the north-east corner of the ground floor, adjoining the main entrance, with its own shutter and door, measuring approximately 80 sq ft (8 feet by 10 feet) (the "Site"), forming part of the building or property described in Recital A.
1.2 The Lessee shall use the Site solely to install, operate and maintain an Automated Teller Machine together with its ancillary equipment — including cash cassettes or a currency chest, a backup power supply, air-conditioning, CCTV or other surveillance equipment, a biometric or access-control device, and signage identifying the Lessee and the network on which the Automated Teller Machine operates — and for no other purpose, without the Lessor's prior written consent.
1.3 The Lessee shall have exclusive possession of the Site for the Term, subject to the Lessor's rights of access under Clause 10.
- 2. TERM AND RENEWAL
2.1 This Lease commences on 1 April 2026 and, unless earlier terminated under Clause 16, expires on 2 April 2026 (the "Term").
2.2 This Lease may be renewed for a further period on terms, including Rent, to be agreed between the Parties in writing at least three months before it expires; if the Parties do not agree in writing before then, this Lease ends on expiry without automatic renewal.