HOARDING OR SIGNAGE SPACE LEASE AGREEMENT
This Hoarding or Signage Space Lease Agreement (this "Lease") is made at Chandigarh on 2 April 2026.
BETWEEN
Malhotra Estates Private Limited, an individual, of SCO 55, Sector 20-C, Chandigarh 160020, PAN AABCM3456N, acting through Ramesh Malhotra, Director (the "Lessor", which expression includes its successors in interest and permitted assigns);
AND
Skyline Outdoor Media Private Limited, a company incorporated under the Companies Act, 2013, of Plot No. 214, Industrial Area Phase II, Chandigarh 160002, PAN/GSTIN AAECS7890P, acting through Priya Malhotra, Partner (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, wall or land known as the boundary wall fronting the National Highway, Plot No. 214, Industrial Area Phase II, Chandigarh, situated in the State of Punjab.
B. Within or upon that building, wall or land, 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 purpose of erecting and operating a standalone hoarding structure for outdoor advertising, unconnected with any other tenancy.
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 ground at the north-eastern end of the boundary wall fronting the National Highway, together with a five-foot strip on either side for maintenance access, measuring approximately 150 sq ft (the "Site"), forming part of the building, wall or land described in Recital A.
1.2 The Lessee shall use the Site solely to erect, operate and maintain a unipole structure on its own foundation, with a display face not exceeding 40 feet wide by 20 feet high (the "Structure"), and to license, sell or otherwise make available display space on the Structure to its own advertising clients as part of its outdoor-advertising business, 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 11.
1.4 The Lessor has no relationship with, and no right against, any advertiser whose content is displayed on the Structure from time to time, and no right to choose or object to a particular advertiser or brand, except as Clause 7.2 (content restrictions) provides.
- 2. TERM AND RENEWAL
2.1 This Lease commences on 1 April 2026 and, unless earlier terminated under Clause 15, expires on 2 April 2026 (the "Term").