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L.I.F.E. Ltd 2023 Contract

REPUBLIC OF TRINIDAD AND TOBAGO

LICENSE AGREEMENT

RECITALS:

(A) The Licensor of GREEN MEADOWS LTD license the property/ venue located at NO. 11B SANTA BARBARA BOULEVARD, SADDLE ROAD, SANTA CRUZ, in the Island of Trinidad.

(B) The Licensee desires to acquire a license for the use and enjoyment of the venue owned by the Licensor.

INTERPRETATION

In this License Agreement, unless the context requires otherwise:

‘License’ means a permission given by the Licensor to do some act that without such permission it would be unlawful for him to do.
‘Licensor’ means the person with exclusive legal rights over the property/ venue situated at the above mentioned address granting the license to the ‘Licensee’ for a limited time.
‘Licensee’ means the person benefiting from the grant of the license from the ‘Licensor’.
‘Premises/Venue’ means the Property Green Meadows situated at NO. 11B SANTA BARBARA BOULEVARD, SADDLE ROAD, SANTA CRUZ, in the Island of Trinidad.
‘Event’ means weddings, anniversaries, birthday celebrations, graduation events, parties/fêtes, etc.
‘Expenses’ any monetary costs required for the operation of the Event.

THIS AGREEMENT is made in duplicate this 27th day of September in the year of Our Lord Two Thousand and Twenty Three Between GREEN MEADOWS LTD a company incorporated under the laws of Trinidad and Tobago, having its registered office situate at Lot 16C Eteck Park, Diamond Vale, Diego Martin, in the Island of Trinidad, (hereinafter called “the Licensor”) of the One Part and L.I.F.E. Ltd of Santa Cruz in the Island of Trinidad, (hereinafter together called “the Licensee”) of the Other Part.

1. WHEREAS:

(a) The Licensor is seized and possessed of the Premises situate at NO. 11B SANTA BARBARA BOULEVARD, SADDLE ROAD, SANTA CRUZ, in the Island of Trinidad, (hereinafter called “the said premises”).

(b) The Licensee is desirous of obtaining a license of the said Premises for the sole purpose of hosting an Event on the 12th Novemebr 2023, FROM 8:00am to 12:00 MIDNIGHT FOR 1000 GUESTS.

2. THE PARTIES HEREBY AGREE AS FOLLOWS:-

a) That the Licensee shall pay the Licensor:-

i. A refundable SECURITY DEPOSIT of TEN THOUSAND DOLLARS ($10,000.00 TTD) upon the signing of this agreement. The same is to cover any damages or loss suffered by the Licensor or any failure of the Licensee to meet any of his obligations set out herein. Any sum in excess of the deposit in respect of any such claim for damages or loss shall be paid to the Licensor by the Licensee.

ii. The sum of FIFTY FIVE THOUSAND DOLLARS ($55,000.00TTD) or its equivalent in United States Dollars (U.S.D) or British Pound Sterling (G.B.P) which shall be paid in two separate installments of TWENTY SEVEN THOUSAND FIVE HUNDRED DOLLARS ($27,500.00TTD). The first non-refundable installment to be paid on or before the signing of the contract and the second installment paid one (1) week before the completion of same.

iii. A further sum of FIVE THOUSAND DOLLARS ($5,000.00) in the event that the Licensee requires the use of the said premises more than four days prior to the Event for the purpose of decorating and Event preparation between the hours of 8:00 a.m. to 6:00 p.m.

b) The Licensee Agrees to:-

i. Obtain all consent and necessary approvals required by the relevant authorities for hosting such an Event on the said premises including music, entertainment fees and noise pollution requirements.

ii. Obtain public liability insurance to cover any accidents or injury suffered in relation to the Event including any damage or loss incurred by the guests due to the negligence of the Licensee, his servants and/or agents.

iii. The Licensor reserving the right prior to or during the Event to view and inspect the Premises at all reasonable times and take photographs of the scene for any purpose the Licensor believes necessary and to ensure that all statutory requirements have been met and that the necessary warning signs are placed on the site of the Event to alert guests of any hazards that exist or any danger that could transpire and to clearly highlight the entrance and exits to and from the Premises.

iv. Provide their guests with all the necessary equipment such as but not limited to; tables, chairs, tents, music and a backup power supply (e.g. generator) etc.

v. Remove all furniture and decorations on or before 2:00 a.m. 14th November 2024 and dispose of all garbage. A storage fee of ONE THOUSAND DOLLARS ($1,000.00TTD) per hour will be payable thereafter.

vi. Pay all rates and taxes on the said Premises.

vii. Pay the Licensor a fee of $5,000.00 for every five hundred (500) additional GUESTS or part there of.

viii. Insure the Premises in accordance with Clause 2(b)(ii) which covers liability for any damage or injury incurred by any guests as a result of negligence of the Licensee, his servants and/or agents.

ix. Indemnify the Licensor for any proceeding, actions, claims, damages, costs, and other liabilities or losses incurred by the Licensor for any accidents originating from the Event on the Premises.

x. Be held liable to pay all Expenses arising out of or in connection to the relevant Event hosted by same which will be subject but not limited to Security Personnel, Public Safety, Parking, Insurance, Cleaning, Additional Staff and/or any other Expenses etc that are deemed essential to hold and/or host the event.

xi. Ensure that their guests are fully aware of all the necessary safety precautions in the event of any hazard that might occur during the Event.

xii. Keep the exit routes clear and unobstructed throughout the entirety of the Event for Public safety.

xiii. Keep the Premises clean during and after the Event and dispose of all waste material.

xiv. Refrain from sticking, posting or fixing any bills or posters on the Premises.

xv. Notify the Licensor if anything on the Premises is damaged or broken rather than fixing it themselves.

THE PARTIES FURTHER AGREE AS FOLLOWS: –

3. CONFIDENTIALITY

The Licensee hereby agrees that the existing terms of this Agreement would not be published without the written consent of the Licensor and during the continuance of this Agreement and afterwards, the Licensee shall use its best endeavours to keep the business information confidential and therefore shall not disclose it to any third party or use it for any other purpose than to perform its obligations under this Agreement.

4. FORCE MAJEURE

If either party is unable to perform their obligations under this Agreement by Force Majeure, he or she shall notify the other immediately of the nature and extent of the Force Majeure and the notifying party shall not be liable for failure to perform those obligations whilst the Force Majeure continues.

In this clause ‘Force Majeure’ means any unforeseeable circumstances that are outside the reasonable control of the party claiming it. Non-exhaustive illustrations include, acts of God, war, riot, explosions, abnormal weather conditions, fire, earthquake, flood, government action, strikes, lockouts, delays by suppliers, accidents, damage to equipment and shortage of materials, labour or manufacturing facilities.

5. TERMINATION

Either party may terminate this Agreement by giving to the other party thirty (30) days’ notice. Notice of termination shall be submitted in writing or e-mail correspondence and applies to both contracting parties.

6. TERMINATION UPON BREACH

The Licensor can terminate the License Agreement without notice if;

i. The Licensee does not make payments in accordance with clauses 2(a) 1-3 of this Agreement supra.

ii. The Licensee refuses to comply with the terms and conditions set out herein.

iii. Upon termination, the confidentiality clause herein will remain in force.

7. GOVERNING LAW

This Agreement shall be governed by the Laws of the Island Republic of Trinidad and Tobago as where signed.

8. ARBITRATION/ MEDIATION

Whereby any dispute arises out of or in connection herein the parties agree to settle through arbitration or mediation firstly.

The arbitrator/mediator shall be selected by the Licensor with the approval of the Licensee and the decision of the arbitrator/mediator is binding and final.

9. BINDING EFFECT

This Agreement is binding between the parties, and may not except as hereinafter provided, be modified except by written agreement signed by both parties.

This agreement is drawn up in duplicate, of which each contracting party receives one copy.
This agreement enters into force after the signature by both contracting parties.

IN WITNESS WHEREOF the parties have hereunto set their hands the day and year first hereinabove written.

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Signed by Matthew Oliver ,Director/Secretary/ Licensor of Green Meadows Ltd
Signed On: September 27, 2023

Timestamp

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September 27, 2023 2:52 pm AST

L.I.F.E. Ltd 2023 Contract Uploaded by Matthew Oliver ,Director/Secretary/ Licensor of Green Meadows Ltd - info@greenmeadowstt.com IP 161.0.156.79