Arbitral Award for Assignment of a Lease (India)
This document is a template for an arbitral award directing the assignment of a lease from a current lessee to a purchaser. It specifies the financial considerations, the execution of the assignment deed, and the responsibility for outstanding rent and taxes.
Arbitral award of assignment of lease
I AWARD and direct that in consideration of Rs. _____________ heretofore paid by the said [purchaser] to the said [lessee] and of Rs. __________ hereby directed to be paid by the said [purchaser] to the said [lessee] upon the execution of the deed of assignment hereinafter mentioned the said [lessee] shall as beneficial owner [or trustee or mortgagee] on the _____ day of _____________ at the office of ____________ the solicitor for the said [purchaser] execute a valid deed of assignment to the said [purchaser] of all his right title and interest in the unexpired residue of a term of _______ years granted by a lease dated the ______ day of _________ by [landlord] to the said [lessee] of certain premises heretofore occupied by the said [lessee] and [other occupier] as a shop and warehouse situate and being at [place] subject nevertheless to the rent covenants and conditions by and in the said lease reserved and contained. And I further award and direct that the said [purchaser] shall pay and satisfy all arrears of rent and taxes which have arisen accrued or become due for or on account of the said premises since the __________ day of ______.
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