Professional Documents
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Master Lease Agreement
Master Lease Agreement
DATED THIS
2008
BETWEEN CSF CX SDN. BHD. (Company No.: 790023-V) AND CSF ADVISERS SDN. BHD. (Company No.: 532675-X)
LEASE
AGREEMENT
AN AGREEMENT made on the BETWEEN 1. CSF CX SDN. BHD. (Company No. 790023-V), a company incorporated in Malaysia under the Companies Act, 1965 with its business address at No. 25-6, Jalan PJU 1/42A, Dataran Prima, 47301 Petaling Jaya (hereinafter referred to as the Lessor) of the one part;
AND 2. CSF ADVISERS SDN. BHD. (Company No. 532675-X), a company incorporated in Malaysia under the Companies Act, 1965 with its business address at No. 25-6, Jalan PJU 1/42A, Dataran Prima, 47301 Petaling Jaya (hereinafter referred to as the Lessee) of the second other part.
WHEREAS:
(A)
The Lessor will be the registered proprietor and beneficial owner of all that pieces of land held under H.S.(D) 7117, P.T. No. 12144 and H.S.(D) 7118, P.T. No. 12145 both in the Mukim of Dengkil, Daerah Sepang and State of Selangor measuring approximately 1.570 acres and 1.698 acres respectively (hereinafter called the Land) together with the building erected thereon and all critical power infrastructure installed therein (hereinafter collectively referred to as the Property). (B) The category of land use for the Land is Bangunan Perniagaan and the Land is subject to a restriction-in-interest whereby the Land shall not be transferred, leased or charged without the consent of the State Authority, which consent has yet to be obtained by the Lessor. The Lessor is desirous of leasing to the Lessee and the Lessee is desirous of taking a lease of the Property on an as is where is basis for the consideration and upon the terms and conditions herein contained.
(C)
NOW IT IS HEREBY AGREED as follows:1. 1.1 THE LEASE IN CONSIDERATION of the premises herein and the mutual covenants herein contained, the Lessor hereby agrees to lease to and the Lessee hereby agrees to take on the lease the said Property on an as is where is basis for a period of Fifteen (15) years (hereinafter referred to as the Fixed Term) commencing from the Unconditional Date as defined herein (hereinafter referred to as the Commencement Date) with an option for renewal as herein provided, upon and subject to the terms and conditions hereinafter appearing.
2. 2.1
The State and Condition of the Property The Lessee hereby expressly acknowledges that it has inspected the said Property and accepts the same in the state and condition, and all structural, topographical and geographical aspects thereof, as it is in as the date hereof, and the Lessee shall not be entitled to claim for any reduction in the agreed yearly rental hereinafter stated or for any damages arising therefrom or in respect thereof. The Approval This Agreement is conditional (the Condition Precedent) upon the approval of the State Authority (the State Authority) being obtained by the Lessor for the lease of the Property on the terms and conditions of this Agreement (the State Authority Approval) within a period of three (3) months from the date of this Agreement (the Approval Period). The Lessor shall within thirty (30) days from the date of execution of this LesseeAgreement, submit and file the necessary application and documents for the Consent to Lease the said Property to the LesseeState Authority Approval from the relevant State Authority. The Lessor and the Lessee hereby covenant and undertake with each other to promptly provide all information that shall be required by the State Authority for the purpose of obtaining the State Authority Approval. The Lessor shall keep the Lessee duly informed of the filing and developments of the application for the State Authoritys Approval and the FIC Approval and the Lessor shall, within five (5) days of from the date of receipt of the State Authoritys Approval, forward a certified true copy thereof to the Lessee. In the event that the Condition Precedent shall not have been fulfilled by the expiry of the Approval Period, the Approval Period shall be automatically extended for a period of three (3) months from the expiry of the Approval Period (the Extended Approval Period) and in the event the Condition Precedent shall not have been fulfilled by the expiry of the Extended Approval Period for any reason whatsoever this Agreement shall terminate and be of no further effect whatsoever. This Agreement shall become unconditional on the date the Condition Precedent has been duly fulfilled in accordance with the provisions of this Clause 3 (the Unconditional Date) and for the purposes hereof, the date when the Lessor or the Lessors Solicitors receive a written notification of the State Authority Approval, together with satisfactory documentary evidence thereof, shall be the date when the State Authority Approval is deemed obtained. ANNUALLY YEARLY RENTAL The Lessee shall pay to the Lessor the agreed annually yearly rental (the Yearly Rental) made payable to the Lessor for the said Property without demand and without any deduction or right of set-off, and payable IN ADVANCE on or before
3. 3.1
3.2
3.3
3.4
3.5
3.6
4. 4.1
the seventh (7th) day of each and every calendar year, commencing from the Unconditional Date. PARTICULARS OF AGREED ANNUALLY YEARLY RENTAL Period For the first five (5) years From [ ] to [ ] For the second five (5) years From [ ] to [ ] For the third five (5) years From [ ] to [ ] 5. 5.1 THE DEPOSIT The parties hereto hereby agree that the Lessee shall pay to the Lessor at the times and in the manner following, the sum of Ringgit Malaysia Forty Thousand (RM40,000.00) only (hereinafter referred to as the Deposit) by way of deposit as security for the due observance and performance by the Lessee of all covenants, stipulations, terms and conditions on the part of the Lessee herein this Agreement to Lease contained. The Deposit shall be maintained at the sum as specified in Clause 5.1 hereof during the Fixed tTerm of this Lease and shall not without the previous written consent of the Lessor be deemed to be or treated as payment of rent or set-off and/ or other payments covenanted to be paid by the Lessee herein this Lease Agreement and upon the expiry or determination of this Lease Agreement shall be returnedrefunded, free of interest to the Lessee, less such sums as may be due to the Lessor including but not limited to costs of repairs, replacements, restoration and or damage or fines, penalties and or utilities charges relating to the said LandProperty and or any payments hereunder and/ or damages by reason of breach or non-compliance of the terms and or conditions of this Lease Agreement by the Lessee but without prejudice to any other right or remedy which the Lessor may have against the Lessee under the terms hereof. PROVIDED ALWAYS that in the event this Lease Agreement shall be terminated for any reason whatsoever before the expiry of the Fixed Term herein stated not due to the default and/ or breach on the part of the Lessor and/ or the Lessee abandons the said Property and SAVE AND EXCEPT for termination pursuant to Clause 10 hereof, it is hereby expressly agreed that the Deposit shall be forfeited absolutely by the Lessor for its entire own use but without prejudice to the Lessors rights to recover any additional and/ or further sum(s) from the Lessee as expenses, losses, costs and/ or damages for any antecedent breach of this Lease Agreement. In amplification of and not in derogation of any other rights and/ or remedies which the Lessor may have under the provisions of this Lease Agreement or at Yearly Rental Ringgit Malaysia Eighty Thousand (RM80,000.00 only) per year) Ringgit Malaysia One Hundred and Twenty Thousand (RM120,000.00) only per year) Ringgit Malaysia Two Hundred Thousand (RM200,000.00 only) per year)
5.2
law, the Lessee hereby expressly agrees, covenants and undertakes to indemnify and reimburse the Lessor in respect of any payment(s) made or any outgoings paid by the Lessor in the event the Deposit referred to in Clause 5.1 hereof is insufficient for the purposes stipulated herein. PARTICULARS OF THE DEPOSIT Deposit Payment Date On or before the execution of this LeaseAgreement Payment Cash or Bank Guarantee equivalent to Ringgit Malaysia Forty Thousand (RM40,000.00) only)
6.
THE OPTION FOR RENEWAL (i) Renewal If the Lessee shall be desirous of extending thise lLease hereby created for a further term of ten (10) years from the expiration of the Fixed Term hereby granted, the Lessee shall give to the Lessor not less than six (6) calendar months notice in writing before the expiration of the Fixed tTerm hereby granted, of such intention and PROVIDED ALWAYS THAT the Lessee shall have first:-
(a) paid all the rent and monies due to the Lessor; and
(b) duly observed and performed all the terms and conditions herein on the Lessees part; and
(c) paid the increase in the Deposit or any other deposits or charges on
or before the commencement of the Renewed Term (as defined hereinafter); the Lessor shall lease the said LandProperty to the Lessee for another fixed term of ten (10) years commencing on from the date of expiry of the Fixed Term herein (hereafter referred to as the Renewed Term) subject to a one-time maximum ten percent (10%) increase in Annually the Yearly Rental for the Rrenewed tTerm (the Revised Rental) BUT OTHERWISE on the same terms and conditions as this Lease Agreement SAVE AND EXCEPT this clause for renewal but including ____________ herein in replacement of this Section.
Please specify parties intention 7. THE LESSEES AND LESSORS COVENANTS The Lessee hereby covenants to the Lessor that :THE LESSEES COVENANTS
7.1
Payment of Rent The Lessee shall pay the Yearly Rental, the Revised Rental and the Security Deposit (as applicable) at the times and in the manner aforesaid. Payment of Utilities The Lessee shall at all times bear, pay and discharge promptly all deposits, charges and outgoings and all taxes whatsoever payable for the supply of water, electricity and telecommunications services, and for all sewerage services and maintenance charges to the said Property and the building erected thereon and for any additional and or upgrading of such services as may be required by the Lessees, and for all charges for the disposal of refuse and or garbage, and other charges whatsoever which are properly chargeable upon the Property. Sub-Leasing and Sub-Letting of this Lease Agreement The Lessee shall be entitled to enter and make such contracts for the sub-leasing and sub-letting of the said Property without the prior notification of to the Lessor. Maintenance of landscape The Lessee undertakes to maintain the landscape of the Property to the reasonable satisfaction of the Lessor throughout the term hereby created and throughout any renewed term thereof. Upkeep and Maintenance of Property - The Lessee shall repair and during the said term keep and maintain the Property in good and tenantable repair and condition (fair wear and tear and damage by fire storm tempest riot and any other cause beyond the Lessees control excepted, save in the case of fire where the insurance monies are rendered irrecoverable in consequence of the act or default of the Lessee) to the satisfaction of the Lessor and of the public health and any other Appropriate Authority. The Lessee shall further employ for the upkeep and maintenance of the Property such workers or contractors as deemed necessary. Should any damage be caused by the Lessee, its agents and/or servants to the Property or any part thereof by the installation, use or removal of any equipment, partition, sign or other fittings, the Lessee undertakes to repair forthwith and make good such damage. Alterations - The Lessee shall be entitled to make or permit or suffer to be made any erections, alterations or additions to the Property or any part thereof without the prior consent of the Lessor . However, where necessary, the prior written consent of the local or relevant authorities shall be obtained. Inspection - The Lessee shall permit the Lessor or the Lessors servants and/ or agents, with or without workmen and others, at all reasonable times to enter upon, and view and inspect the condition of the Property, and to take inventories as the Lessor may think fit AND the Lessee shall repair and mend in a proper and workmanlike manner, and at the Lessees entire own cost and expenses, any damage, repairs, replacements and or defects for which the Lessee is liable for occasioned by want of care, misuse, abuse or otherwise by the Lessee, its servants, agents, invitees or whomsoever, and the Property , and if the Lessee shall not within fourteen (14) days after the service of such notice, proceed diligently with the execution of such repairs or works, or the making of such replacements, then it shall be lawful for the Lessor to enter upon the Property and execute such repairs or works, or the making of such replacements, then it
7.2
7.3
7.4
7.5
7.6
7.7
shall be lawful for the Lessor to enter upon the Property and execute such repairs or works, or make such replacements, and the entire costs thereof shall be a debt due from the Lessee to the Lessor, and shall on demand be repaid forthwith. 7.8 User (a) The Lessee shall not use the Property for any purposes other than for the purposes of (state permitted use) only without the prior consent of the Lessor, and the Lessee shall not use the Property and/or the Building or any part(s) thereof or permit the same to be used for the purposes of any religious or other spiritual purposes, or any unlawful, illegal or immoral business or purpose, or any trade of a noxious or offensive nature AND the Lessee shall observe all restrictions as to user and/ or otherwise of the Property and the Building imposed by the Lessor and/ or the relevant authorities, and shall indemnify and keep the Lessor indemnified to the fullest extent against any breach thereof. The Lessee shall not bring or store or permit or suffer to be brought or stored on the Property or any part(s) thereof, any arms, ammunitions or unlawful goods, drugs, gun-powder, saltpeter, gas, petroleum, kerosene or any dangerous, inflammable, combustible, explosive, noxious, radioactive, or offensive substance, or any chemical or material or its byproducts, the keeping of which may contravene any local ordinance, statute, regulation, rule or bye-law, or any goods or drugs, which in the opinion of the Lessor, are of a harmful or hazardous nature, or in respect of which an increased rate of insurance is usually required. The Lessee shall not use the Property or any part thereof for any reason or whatsoever calculated to affect adversely the interest of the Lessor, and shall observe such reasonable restrictions or use of the Deposit which the Lessor deems fit to impose. The Lessee shall not hold, permit or suffer to be held and sale or public auction in or about the Property or any part thereof.
(b)
( c)
(d) 7.9
Compliance with Statutory Provisions (a) The Lessee shall, at its entire own cost and expense, apply for, obtain and keep in force, at all time, all approvals, consents, authorisations, licences and permits required by law for (the carrying on of the Lessees business on the Property) PROVIDED ALWAYS that the failure on the part of the Lessee to obtain the same shall not frustrate or affect the obligations of the Lessee herein. The Lessee, its agents, servants, licensees, invitees, assigns or otherwise shall at all times observe and comply with all conditions and covenants binding upon the Demise PremisesProperty, or upon the Lessor, or otherwise howsoever in respect of the Property , and shall not do or omit or suffer to be done or omitted any act matter or thing in, on or in respect of the Property, which contravene any provisions of any Act,
(b)
Ordinance, Enactment, Order rule, regulation or bye law now or hereafter affecting the same, and to forthwith, at the Lessees entire own cost and expense, comply with all complaints, requirements or needs pursuant to any laws, by-laws or other statutory notices by any relevant authorities and shall at all times indemnify and keep indemnified the Lessor to the fullest extent against all actions, proceedings, costs, expenses, claims and demands whatsoever in respect of any such act, matter or thing done or omitted to be done in contravention of any of the said provisions. 7.10 Insurance - The Lessee shall at all times effect and keep effected a public risk, and such other insurance, for such amount as it deem adequate or proper, or as the Lessor deems adequate and proper, and otherwise conform with the Lessors reasonable requirements from time to time of which the Lessee is given notice, and shall indemnify and keep indemnified the Lessor to the fullest extent against all actions, proceedings, claims, costs, charges, expenses and demands in respect of any injury to the person or damage to the property of the family, guests, servants, visitors, invitees, licensees or otherwise of the Lessee while in or upon the Property. The Lessee shall be solely responsible for and bear all such insurance as the Lessee shall deem necessary for any erection, addition or structure to be erected on the Property, or any Lessees assets, goods, properties, fixtures, furniture, fittings and other Lessees things thereon. 7.11 Indemnity to the Lessor - The Lessee shall be responsible for all losses, expenses and damages howsoever caused or occasioned to the Lessor or the Property or any part(s) thereof or any adjacent or neighbouring premises or any injury or death to any person or caused by any act, omission, default or negligence of the Lessee, its servants, agents or licensees and to pay and make good to the Lessor or others all and every loss, expense and damage whatsoever incurred or sustained by the Lessor or others as a consequence of every breach or non-observance of the Lessees covenants herein contained and to indemnify and keep indemnified the Lessor to the fullest extent from and against all actions, proceedings, demands, claims, liabilities, costs and expenses whatsoever thereby arising: Lessors Right to Sell - The Lessor shall be entitled at any time during thise lLease herein granted to dispose of, sell, transfer or otherwise deal with the said landProperty SUBJECT to thise Llease herein granted and PROVIDED THAT the Lessor shall grant the Lessee the first right of refusal for the sale, transfer of the Pproperty and the building erected thereon. Yielding Up the Property - On the expiration or sooner determination of this LeaseAgreement, the Lessee shall peaceably, quietly and unconditionally quit, yield and deliver up vacant possession of the Property to the Lessor in such good and substantial repair and condition as shall be in accordance with the covenants of the Lessee herein contained. Restoration - The Lessee shall, at its entire own cost and expense, restore and reinstate the Property to a good and substantial and clean state and condition (fair wear and tear excepted) as herein delivered to the Lessee and if so required by the Lessor, restore the same to its original state and condition as it was in as
7.12
7.13
7.14
at the date of commencement of this Lease at the expiry or earlier determination of this Lease Agreement including the removal of all equipments, signs and all erections, alterations, additions and other items of the Lessee AND such restoration and/ or reinstatement shall be carried out within one (1) month from the expiration or earlier determination of this LeaseAgreement, failing which the Lessor shall be at liberty to carry out and expenses thereof shall be borne and payable forthwith by the Lessee to the Lessor upon demand therefore.
8.
THE LESSORS COVENANT The Lessor hereby covenants with the Lessee that :-
8.1
Quiet Enjoyment The Lessee, duly and punctually paying the Yearly rRentsal hereby reserved and observing and performing the agreements, terms, conditions and stipulations on its part herein contained, shall be permitted to peaceably and quietly enjoy the Property during thise Fixed Term Lease and the Renewed Term (if any) without any interruption or disturbance from the Lessor or any person lawfully claiming by, through under or in trust for the Lessor.; and
8.2
Payment of Existing Quit Rent and Assessment SUBJECT ALWAYS to Clause 8, the Lessor shall bear and pay all quit rent and assessment at the rate as at the date of this Agreement imposed on and payable in respect of the Property.
8.4
New Owners Bound In the event the Property is sold to another party, the Lessor irrevocably undertakes that the Property is sold subject to thise Llease hereby granted for the duration of the Fixed Term or the Renewed Term (if any) hereby created or any renewed term (if any) and the new owners are bound by the terms and conditions of this Lease Agreement as if they were the original owners.
8.4
Compliance With Requirements of Appropriate Authorities The Lessor shall comply with all the necessary and relevant requirements of the Appropriate Authorities if it is the Lessors responsibility to do so.
9. 9.1
REPRESENTATION AND WARRANTIES Each party hereto warrants and represents to the other that:(a) (b) it has the full power and authority to enter into this LeaseAgreement; it has taken all corporate or other action to authorize the execution and delivery of this LeaseAgreement;
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(c )
the execution, delivery and performance of this Lease Agreement does not exceed the power granted to it or violate the provisions of its Memorandum and Articles of Association; and it has not been wound- up and no winding-up notice or petition has been presented against it nor has any receiver or manager been appointed.
(d)
10.
FORFEITURE 10.1 It is hereby agreed between the parties hereto that : (a) if the Annually LeaseYearly Rental or any part thereof shall be in arrears and unpaid at any time for a period of ninety (90) days after becoming due and/ or payable (whether formally demanded or not); or If the Lessee shall be in breach of any one or more of the material terms, covenants, and/ or conditions herein on the part of the Lessee to be performed or observed; or if the Lessee shall become insolvent or is unable to pay its debts or upon the presentation a petition for liquidation or winding-up of the Lessee (whether compulsorily or voluntarily) or a receiving order is made against it; or if the Lessee shall enter into or make any arrangement or composition or otherwise for the benefit of or with its creditors; or if the Lessee shall permit or suffer any attachment execution or distress to be levied on any of the Lessees good or any property, chattels, fixtures and fittings on the Property or elsewhere.
(b)
(c)
(d) (e)
Then upon the occurrence of any one or more of such events, if shall be lawful for the Lessor at any time thereafter to serve a forfeiture notice upon the Lessee pursuant to Section 235 of the National Land Code, 1965 and it is hereby mutually agreed that a reasonable time in which to remedy the breach, the subject matter of the said forfeiture notice is thirty (30) days except in the case of non-payment of rent when ninety (90) days shall be deemed a reasonable time and on the expiration of the period specified in the said forfeiture notice without the breach complained of having been remedied the Lessor shall be at liberty to re-enter upon the Property or any part thereof in the name of the whole thereupon this tenancy shall absolutely determine but without prejudice to the right of action of the Lessor in respect of any breach of the Lessees covenants herein contained. 11. FORCE MAJEURE
11
11.1
It is also hereby agreed between the parties hereto that in the event the Property or the said Building or any part(s) thereof shall at any time during thise Fixed Term or the Renewed Term (if any) Tenancy be destroyed or damaged by fire, earthquake, earth movements, landslide, flood, lightning, war, riot or civil commotion, tempest or other cause including negligence of the Lessor, its agents, servants or employees or other inevitable or unforeseen cause or Act of God so as to render the Property unfit for occupation and use AND PROVIDED ALWAYS that such destruction or damage sustained shall not have been called by any act, omission, default or negligence of the Lessee or its agents or servants, employees or other lLessee(s) or occupier(s) of the said BuildingProperty, then the Lessor shall not be bound or compelled to rebuild or reinstate the same unless the Lessor in its absolute discretion thinks fit and the Lessor shall have twelve (12) months from the date of the event in which to decide whether or not to rebuild or reinstate . In the event of the Lessor deciding to rebuild and reinstate the Property then the Monthly Yearly Rental hereby reserved or a fair and just proportion of the same according to the nature and extent of damage sustained shall be suspended and cease to be payable under the Property shall have been again rendered for occupation and use,. In the event of the Lessor deciding not to rebuild and reinstate the Property, then the Yearly rRentsal hereby reserved shall cease and this Lease Agreement shall determine from the happening of such destruction or damage as aforesaid and the Lessee shall peacefully, quietly and unconditionally surrender, vacate, leave and yield up to the Lessor possession of so much of the Property as shall not have been destroyed of any breach of the Lessees agreements and covenants. MUTUAL AGREEMENTS The parties hereto hereby also mutually agree as follows:(a) Exclusion Clause That the Lessor shall incur no liability to and shall not be liable in damages or otherwise to the Lessee or its servants, agents, invitees or licensees for any damage, injury or loss which may at any time during the Fixed Term of the Renewed Term (if any)is Lease be caused to or suffered by the Lessee, its servants, agents, invitees or licensees or any of them on the said LandProperty or any part(s) thereof or to any property or goods of the Lessee or such person(s) in or about the said Land Property or any part(s) thereof occasioned by or arising from: (i) fire, water, storm, tempest, landslide, earth movement, earthquake, theft, burglary, insects, explosion, nuclear fall-out, riot or civil commotion, strike, lock-out, disorder, war, enemy action, or any other causes beyond the control of the Lessor or any Act of God; or (ii) by reason of the breakdown or non-provision or non-functioning totally or partially of any services or amenities to be provided by the Lessor or the defective working, stoppage or breakage of or defects in any appliances, pipes, cables, lifts, apparatus or air-conditioning plant or other machinery in or under or passing or connected with or used for the purpose of the said Land or any part(s) thereof; or
12. 12.1
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(iii)
failure or breakdown or non-functioning or the non-provision, totally or partially of supply of air-conditioning, electricity or other supplies, drainage sewerage or other systems or in any way owing to the overflow of water from any other parts of the said LandProperty; or (iv) owing to the negligence or otherwise of any person(s) or due to any event, causes or happenings beyond the Lessors control affecting the facilities, amenities or conveniences contemplated herein.
(b) New Laws If as a result of the introduction or implementation of any new by-laws, laws, enactments, directives, rules and regulations or the amendment of the existing by-laws, laws, enactments, directives, rules and regulations by the proper authorities requiring any change or modification to the structure of the building, the Lessor reserves the full right and liberty at the Lessees entire own cost and expense to comply with such requirements, and such change or modification to the structure of the building shall not annul this Lease Agreement nor shall it be made the subject of any claim by the Lessee. (c) Compulsory Acquisition In the event of compulsory acquisition of the said LandProperty or any part thereof pursuant to Section 4 or Section 8 or any other provision of the Land Acquisition Act, 1960, the Lessee, may at its entire own option, terminate this Lease Agreement by giving to the Lessor, not less than three (3) months prior notice in writing of such intention PROVIDED ALWAYS that the determination of this Lease Agreement hereunder this Action shall not render the Lessor liable in anyway to the Lessee nor shall the Lessee have any claim against the Lessor in respect of the buildings, structures, erections and or additions constructed thereon by the Lessee AND it is hereby expressly agreed that in the event the Lessee wishes to claim against such relevant authority for damages arising from such acquisition, the Lessee may do so, at the Lessees entire own cost and expense, AND the Lessor shall not be bound or compelled and nothing herein contained or implied shall be deemed to render it obligatory on the Lessor, at any time, to claim for such damages or the Lessee against the relevant authority(ies). HOWEVER the Lessor shall, upon reasonable request by the Lessee, use its best endeavours to assist the Lessee in such claim for damages PROVIDED ALWAYS that the Lessee shall bear and pay the Lessee shall bear and pay the Lessors costs and expenses (including solicitors fees on solicitors-client basis) relating to such assistance and/ or claim and the Lessee shall indemnify and keep indemnified the Lessor to the fullest against the same. (d) Knowledge or Acquiescence Knowledge or acquiescence by either party hereto of or in any breach of any of the terms conditions or covenants herein contained shall not operate as or be deemed to be a waiver of such terms conditions or covenants or any of them but notwithstanding such knowledge or acquiescence each party hereto shall be
13
entitled to exercise their respective rights under this Agreement and to require strict performance by the other of the terms conditions and covenants herein. (e) Waiver No failure to exercise and no delay in exercising on the part of either party of any right or remedy accruing to either party upon any default of the other party shall impair any such right or remedy or be construed as a waiver thereof or an acquiescence in such default, nor shall any action by the either party in respect of any default or any acquiescence in any such default, affect or impair any right, or remedy of the other party in respect of any other or subsequent default. 13. 13.1 GENERAL PROVISIONS Time Time wherever mentioned in this Agreement shall be of the essence of this Agreement. 13.2 Legal Fees and Costs The Lessor shall bear all fees and charges in respect of the application for the State Authority Approval. All stamp duty and other disbursements in respect of this Agreement shall be borne and paid by the Lessee. However and each party shall bear their respective solicitors costs in relation thereto. 13.3 Notice (a) Any notice, request, demand or communication to be given under this Agreement shall be in writing and be in the English Language and may be given or sent by hand, post or transmitted by facsimile to the parties at its/their respective addresses or facsimile transmission numbers (or such other address or facsimile transmission number as either party hereto may give notice of to the other party) as follows:THE LESSOR CSF CX Sdn Bhd Contact: The Managing Director/ Chief Executive Director CX2 Computer Exchange 7118 Jalan Teknologi 1 63000 Cyberjaya Selangor Darul Ehsan Tel: Fax: THE LESSEE CSF Advisers Sdn Bhd Contact: The Managing Director/ Chief Executive Director
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CSF Computer Exchange 3552 Jalan Teknokrat 6 63000 Cyberjaya Selangor Darul Ehsan Tel: +603-8318 1313 Fax: +603-8318 0303 (b) Any notice or communication shall be deemed to have been duly received by the party:(i) (ii) (iii) if delivered by hand, at the time of delivery; if sent by post, three (3) days after it has been posted irrespective of whether it is actually received; and if transmitted by facsimile, upon completion of transmission report generated by or emanating from the senders transmitting equipment. The original notice of communication shall be sent by post to the other party.
13.4
Governing Law This Lease Agreement shall be governed by and construed in accordance with the laws of Malaysia.
13.5
Severability If any provision of this Lease Agreement is held to be illegal or invalid under the present or future laws or regulations effective and applicable during the Fixed tTerm or the Renewed Term (if any) of this Lease, such provisions shall be fully separable and this Lease Agreement shall be construed as if such illegal or invalid provisions had never comprised a part of this Lease Agreement and the remaining provisions of this Leas Agreement shall remain in full force and effect and shall not be affected by illegal or invalid provisions or by its severance from this LeaseAgreement.
13.6
Successors Bound This Lease Agreement shall be binding upon the respective persons deriving title thereunder, successors-in-title and permitted assigns of the Lessor and the Lessee.
13.7
Assignment The Lessee shall be entitled to assign, novate or transfer all or any of its rights, interests or obligations under this Lease Agreement to any person or any party for any reason whatsoever provided always that the Lessee shall notify the Lessor of such assignment, novation or transfer.
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Notwithstanding the above said assignment, novation or transfer, the Lessee shall ensure that the terms in this Lease Agreement will not in any way whatsoever be detrimental to the Lessor. 13.78 Entirety This Agreement and any document or instrument attached hereto or referred to herein integrate all the terms and conditions mentioned herein and incidental hereto and excludes all other prior agreements representations or negotiations in writing or otherwise in respect of the subject matter hereof. 13.89 Heading The headings appearing in this Agreement are inserted only as a matter of convenience and in no way define limit construe or describe the scope or intent of the sections or clauses of this Agreement nor in any way affect this Agreement. 13.910 Interpretation Words importing the masculine gender shall include the feminine and neuter genders and words importing the singular shall include the plural and vice versa, the expression day means any day other than a Saturday, Sunday or a public holiday in the Federal Territory of Kuala Lumpur or Selangor Darul Ehsan;
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IN WITNESS WHEREOF the parties hereto have hereunto set their hands on the day and year first above written.
SIGNED by for and on behalf of CSF CX SDN BHD (Company No. 790023-V) in the presence of :
) ) ) ) )
..
SIGNED by for and on behalf of CSF ADVISERS SDN BHD (Company No. 532675-X) in the presence of :
) ) ) ) )
..