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Licence Agreement Property
"I need a Licence Agreement Property for a commercial warehouse in Riyadh Industrial City, Saudi Arabia, where my company will license the property to a logistics company for a 3-year term starting March 1, 2025, with specific provisions for 24/7 access and heavy machinery usage."
1. Parties: Identification of the Licensor and Licensee with full legal names and details as registered with relevant Saudi authorities
2. Background: Context of the agreement including property details and purpose of the license
3. Definitions: Detailed definitions of terms used throughout the agreement, including Arabic terms where relevant
4. Grant of License: Specific rights being granted, scope, and limitations of use
5. Term and Renewal: Duration of the license and conditions for renewal
6. License Fee and Payment Terms: Financial terms, payment schedule, and Sharia-compliant payment mechanisms
7. Obligations of the Licensor: Responsibilities and commitments of the property owner
8. Obligations of the Licensee: Responsibilities, permitted use, and restrictions on the licensee
9. Maintenance and Repairs: Responsibilities for property maintenance and repair obligations
10. Compliance with Laws: Requirements to comply with Saudi laws, regulations, and Sharia principles
11. Insurance: Insurance requirements and obligations
12. Termination: Grounds and process for termination of the license
13. Notices: Process for formal communications between parties
14. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution mechanism
1. Security Deposit: Terms for security deposit if required - optional based on agreement value and risk assessment
2. Utilities and Services: Responsibility for utilities and additional services - optional if not relevant to property type
3. Sublicensing Rights: Terms for sublicensing if permitted - optional based on business needs
4. Force Majeure: Provisions for unforeseen circumstances - optional but recommended
5. Environmental Compliance: Environmental obligations - optional depending on property type and use
6. Property Modifications: Terms for making changes to the property - optional based on license type
7. Guarantees: Additional guarantees or warranties - optional based on transaction value
8. Islamic Finance Compliance: Specific Sharia compliance provisions - optional if standard terms sufficient
1. Schedule 1 - Property Description: Detailed description of the licensed property including location, boundaries, and features
2. Schedule 2 - Payment Schedule: Detailed breakdown of license fees, payment dates, and payment methods
3. Schedule 3 - Permitted Use: Specific details of allowed activities and use restrictions
4. Schedule 4 - Maintenance Schedule: Detailed maintenance responsibilities and schedules
5. Schedule 5 - Property Rules and Regulations: Specific rules governing the use of the property
6. Appendix A - Property Plans: Floor plans, site maps, or other relevant property drawings
7. Appendix B - Required Permits: Copies or lists of required governmental permits and licenses
8. Appendix C - Condition Report: Initial condition assessment of the property
Authors
Real Estate
Commercial Property
Retail
Manufacturing
Hospitality
Healthcare
Education
Logistics
Warehousing
Office Space
Industrial
Technology Parks
Mixed-use Development
Religious Facilities
Entertainment Venues
Legal
Real Estate
Operations
Facilities Management
Compliance
Risk Management
Finance
Business Development
Property Management
Asset Management
Contract Administration
Islamic Finance
Property Manager
Real Estate Director
Legal Counsel
Facilities Manager
Operations Director
Commercial Director
Compliance Officer
Contract Manager
Real Estate Investment Manager
Asset Manager
Property Development Manager
Chief Operating Officer
Business Development Manager
Risk Management Officer
Islamic Finance Advisor
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