REINSTATEMENT (MAKE-GOOD) AGREEMENT
This Agreement is made at Chandigarh on 2 April 2026 between Sethi Estates Private Limited, of SCO 12, Sector 17-C, Chandigarh 160017 (the "Landlord"), and Northline Analytics Private Limited, of Plot 5, Phase 8-B, Industrial Area, Mohali 160055 (the "Tenant"). The Landlord and the Tenant are each a "Party" and together the "Parties".
RECITALS
A. The Landlord has let to the Tenant the premises known as Office 304, Third Floor, Tower B, Elante Business Park, Industrial Area Phase 1, Chandigarh 160002 (the "Premises") under Commercial Lease Deed dated 1 April 2026 (the "Lease"), which is due to end on 1 April 2026 (the "Expiry Date") unless ended earlier.
B. The Parties wish to record the condition in which the Tenant is to leave the Premises, so as to avoid argument at the end of the Lease.
- 1. CONDITION AT HANDOVER
1.1 The Premises were handed over to the Tenant in this condition: Warm shell with levelled floor, plastered walls, toilet core and electrical point, as in the handover memo dated 15 November 2026 (the "Handover Condition").
1.2 If a handover memo, snag list or photographs were signed or exchanged at handover, they form part of the record of the Handover Condition.
- 2. WHAT THE TENANT MUST DO AT THE END
2.1 On or before the date in clause 4.1, the Tenant shall, at its own cost, remove the following works and make good any damage caused by removing them: Partitions, false ceiling, raised flooring, cabling, light fittings, signage, kitchen equipment and any holes made in the slab.
2.2 The Tenant may leave, and the Landlord agrees to keep, the following works: The toilet fit-out and the glass frontage. They shall be in good and safe working order, and the Tenant shall have no claim for payment for them.
2.3 After removing the works, the Tenant shall leave the Premises clean, empty of its goods and furniture, and in the Handover Condition, subject to fair wear and tear and to any works listed in clause 2.2.
2.4 Fair wear and tear means the ordinary ageing of the Premises through proper use over the time of the Lease. It does not cover damage from misuse, accident, neglect, unauthorised alterations or the Tenant's failure to repair.
2.5 The Tenant shall make good holes, fixings and marks in floors, walls, ceilings, columns and the frontage, shall restore services it altered or disconnected to the working state they were in at handover, and shall hand back all keys, access cards and manuals.
- 3. PAYMENT INSTEAD OF REINSTATEMENT
3.1 The Tenant may choose to pay the Landlord ₹2,50,000 (Rupees Two Lakh Fifty Thousand only) (the "Make-good Sum") in place of doing the works in clause 2.1, by giving written notice to the Landlord not later than 60 days before the Expiry Date.
3.2 If the Tenant makes that choice, it shall pay the Make-good Sum before the Expiry Date, or the Landlord may deduct it from the Security Deposit. On payment, the Tenant is released from the obligation in clause 2.1, but not from the obligations in clauses 2.3 to 2.5 as to cleanliness, removal of its goods and return of keys.