Board Resolution for Leave & License Agreement and Renewal

In order to establish a new office or factory, a company will require certain premises to use. The company can use its own land or building for this purpose or it may obtain some premises on rent/ lease from the owner (landlord) of that property.

Before a company finalises the property to be taken on lease, it has to take approval from its board of directors. This is generally done by passing a resolution in the meeting of the board of directors. Wherein the board not only approves the location of the premises to be taken on lease but also authorises certain officials to carry out necessary works and execute deeds and documents as may be required.

Following are templates of board resolutions for entering into and renewal of leave and license agreement.

Specimen Board Resolution for Leave and License Agreement

#. To enter into a leave and license agreement with (Name of the Landlord)

"RESOLVED THAT the consent of the Board of Directors be and hereby accorded to enter into a Leave and License Agreement with (Name of the Landlord) for the premises situated at ............(address)............. for use of the same for the company's head/branch office at ...(city)... 

RESOLVED FURTHER THAT ................, (Designation) and .................., (Designation) be and is hereby jointly authorised to sign and execute the leave and license agreement and to do all such acts, deeds and things ancillary thereto."

Sample Board Resolution for entering into a Lease Agreement

#. To enter into a lease agreement with (Name of the Landlord)

"RESOLVED THAT the company do take on lease the premises located at ...........(address).......... ("leased property").

RESOLVED FURTHER THAT the company do enter into a Lease Agreement for a period of minimum 11 months and a maximum of 60 months with (Name of the Landlord), a resident of ......(residential address)......., the landlord of the leased property.

RESOLVED FURTHER THAT the company do utilise the leased property for its ...........branch for operational purposes or for any other purpose at any point of time after consultation with the senior management.

RESOLVED FURTHER THAT (Name of the Officer), (Designation) and (Name of the Officer), (Designation) be and is hereby severally authorised to sign and execute the lease agreement and to do all such acts, deeds and things as may be necessary or incidental in this matter."

Draft Board Resolution for Renewal of Lease Agreement

#. To renew the leave and license agreement with (Name of the Landlord)

"RESOLVED THAT the consent of the Board of Directors be and hereby accorded to renew for another period of 11 months the leave and license agreement entered into with (Name of the Landlord) for the premises situated at ............(address)............. for the .............branch office of the company.

RESOLVED FURTHER THAT (Name of the Director), (Designation) and (Name of the Officer), (Designation) be and is hereby jointly authorised to sign and execute the leave and license agreement and to do all such acts, deeds, things and take such steps as necessary in this connection."