In this Agreement, unless the context otherwise requires, the following terms shall have the following meanings:

“Premises” means the office space known as [full address], including any shared facilities as further defined herein.

“Licensed Area” means the specific area or workspace within the Premises allocated for Licensee’s exclusive use as described herein or as mutually agreed in writing.

“Shared Facilities” means all common areas, conference rooms, kitchens, restrooms, reception areas, and other shared spaces within the Premises as designated by Licensor from time to time.

“License Fee” refers to the amount payable by Licensee to Licensor for the use of the Licensed Area and Shared Facilities, as further specified herein.

“Security Deposit” means the sum deposited by Licensee as security for the performance of its obligations under this Agreement, as further detailed hereinafter.

“Term” means the period for which this Agreement remains in force as defined herein.

Headings are inserted for convenience only and shall not affect the interpretation of this Agreement.

Words denoting the singular include the plural and vice versa, and words denoting any gender include all genders.

References to persons include individuals, bodies corporate, partnerships, and unincorporated associations.

Any reference to a party includes its successors and permitted assigns.

Any phrase introduced by the terms “including,” “include,” “in particular,” or any similar expression shall be construed as illustrative and shall not limit the sense of the words preceding those terms.

Any ambiguity in this Agreement shall not be interpreted against either party on the grounds that such party was responsible for drafting this Agreement.

Licensor hereby grants to Licensee a personal, non-exclusive, non-transferable, and revocable license to use the Licensed Area within the Premises, subject to the terms and conditions of this Agreement.

Licensee may use the Licensed Area solely for the purposes of conducting its business offices and for no other purpose without the prior written consent of Licensor.

Licensee shall not use the Licensed Area or any part of the Premises for any unlawful, immoral, or hazardous activity, nor permit any act or omission which would cause damage to the Premises or inconvenience to other occupants.

Licensee acknowledges and agrees that the rights granted under this Agreement confer a license only and do not grant any estate, leasehold, or other proprietary interest in any portion of the Premises.

Licensor reserves the right to alter the designation of the Licensed Area or Shared Facilities upon providing reasonable prior written notice to Licensee, provided that the Licensed Area remains substantially equivalent in size and utility.

Licensee shall ensure that all persons it permits to use the Premises comply at all times with the provisions of this Agreement and any reasonable rules or regulations issued by Licensor.

The Licensee shall not obstruct or interfere with the lawful use and enjoyment of the Premises by Licensor or any other occupants.

The Licensee’s use of the Premises shall at all times be subordinate to the primary rights of Licensor and any superior interest holders in the Premises.

This Agreement shall commence on [Commencement Date] and shall continue for an initial term of [Initial Term, e.g., 12 months], unless terminated earlier in accordance with this Agreement.

Upon expiry of the initial term, this Agreement may be renewed for successive periods of [Renewal Term, e.g., 6 months] upon mutual written agreement of the parties.

Either party may terminate this Agreement by giving the other party not less than [Notice Period, e.g., 60 days] prior written notice of termination.

Licensor may terminate this Agreement immediately upon written notice to Licensee if Licensee commits a material breach of any provision herein and fails to remedy such breach within [Cure Period, e.g., 14 days] after receipt of written notice specifying the breach.

In the event of termination, Licensee shall vacate the Licensed Area and remove all personal property on or before the termination date, leaving the Licensed Area in good and clean condition.

Upon termination or expiration of this Agreement, all rights granted to Licensee shall immediately cease and revert to Licensor without further notice or act.

Termination of this Agreement shall be without prejudice to any rights or obligations of either party that have accrued prior to the date of termination.

Licensee shall remain liable for all obligations outstanding as of the date of termination, including payment of License Fees and the cost of any damage caused by Licensee.

Licensee shall pay Licensor the License Fee in the amount of [License Fee Amount] per [Payment Period, e.g., month], payable in advance on or before the first day of each payment period.

All License Fees shall be payable by electronic funds transfer or such other method as Licensor may reasonably specify in writing.

If Licensee fails to pay any License Fee or other sum due under this Agreement within [Grace Period, e.g., 7 days] after its due date, Licensor may charge interest on the overdue amount at a rate of [Interest Rate, e.g., 2% per month] until such amount is paid in full.

Licensee shall be responsible for payment of any applicable taxes, levies, or other governmental charges arising in connection with the License Fee, excluding Licensor’s income taxes.

Licensor reserves the right to adjust the License Fee upon providing Licensee with not less than [Fee Adjustment Notice Period, e.g., 90 days] prior written notice, provided that such adjustments shall not occur more frequently than once per [Adjustment Frequency, e.g., 12 months].

No set-off or deduction against any License Fee or other payment due hereunder shall be permitted except as expressly agreed in writing by Licensor.

Payments made by Licensee shall be applied first to accrued interest, then to any outstanding fees or charges, and lastly to the License Fee.

In the event of non-payment, Licensor may restrict Licensee’s access to the Premises until all arrears are settled, without prejudice to Licensor's other rights.

Upon execution of this Agreement, Licensee shall deposit with Licensor a Security Deposit in the sum of [Security Deposit Amount], to be held by Licensor as security for the faithful performance of Licensee’s obligations under this Agreement.

The Security Deposit shall not be deemed an advance payment of License Fee or a measure of Licensor’s damages in case of default.

Licensor may apply the Security Deposit, in whole or in part, at any time to cover any unpaid License Fees, costs of repairing damage to the Premises (other than normal wear and tear), or any other sums owed by Licensee pursuant to this Agreement.

If Licensor makes any deduction from the Security Deposit, Licensee shall promptly, upon demand, restore the Security Deposit to its original amount.

Within [Return Period, e.g., 30 days] after the termination or expiration of this Agreement and Licensee’s complete vacation of the Premises, Licensor shall return to Licensee the balance of the Security Deposit remaining after deduction of any amounts due to Licensor.

No interest shall be payable by Licensor on the Security Deposit, unless otherwise required by law or expressly agreed in writing.

The Security Deposit shall not be assignable or transferable by Licensee without the prior written consent of Licensor.

Any dispute regarding the return or application of the Security Deposit shall be resolved in accordance with the dispute resolution provisions of this Agreement.