This License is
made as of the 1 st day of September, 2007
WESTMOUNT
DECISION SCIENCE INC.
WHEREAS the
Licensor is the lessee of the premises known municipally as 2345
Yonge Street, Suite 405, Toronto, Ontario M4P 2E5 (the
“Premises”);
AND WHEREAS the
Licensor has agreed to license to the Licensee the right to occupy
two finished offices within the Premises (collectively, the
“Offices”) located on the Premises as shown in
Schedule A);
NOW THEREFORE,
this license witnesses that in consideration of the covenants and
agreements contained in this license, the Licensor and Licensee
agree as follows:
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1.1
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Definitions
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For
the purposes of this Agreement, the following terns shall have the
following meanings:
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“Common
Facilities” means the areas, facilities and
equipment on the Premises that are designated from time to time by
the Licensor for the common use and enjoyment or benefit of the
Licensor and the Licensee.
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“Services”
means services listed in
Schedule B, as amended from time to time by the Licensor and
the Licensee.
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For a fee of
$1,064 per month, payable monthly in advance, the Licensor licenses
to the Licensee the Offices.
Each of the
Licensor and the Licensee further agrees to provide its Services to
the other at the rates set forth in Schedule B, payable
monthly in arrears.
The Licensee shall
have for itself and its officers and employees, the non-exclusive
and non-transferable right of access over the Common
Facilities.
2.1 Cancellation of
Insurance
The Licensee will
not by its act or omission cause any policy of insurance relating
to the Premises to be cancelled or the premium thereon increased or
the Premises to be made uninsurable.
The Licensee will
place and maintain or cause to be placed and maintained such
insurance related to its property and personnel at the Premises as
a prudent licensor of the Premises would carry, in such amounts and
of such types as the Licensor, acting reasonably, may consider
reasonable and as may be customary in similar business
operations.
Should the
Licensee fail to maintain any of the insurance required pursuant to
this Section 2.2 and should such default continue for three
business days after notice to the Licensee, then in addition to any
other rights and remedies, the Licensor may, but shall have no
obligation to, elect to obtain the required insurance and the
Licensee shall upon demand pay to the Licensor, the
Licensor’s cost of obtaining such insurance.
The Licensee
hereby releases the Licensor from any and all liability arising
from damage for which the Licensee is required to insure hereunder
notwithstanding that such damage arises from the negligence of the
Licensor or someone for whom the Licensor is in law
responsible.
The Licensee will
make good to the reasonable satisfaction of the Licensor all damage
howsoever caused to the Premises by the Licensee or the
Licensee’s officers, servants, employees, agents or invitees
and, at the expiration or sooner determination of the license
provided for herein, the Licensee will vacate and deliver up to the
Licensor the Offices in as good a state of repair and condition
(reasonable wear and tear excepted) as at the date hereof to the
reasonable satisfaction of the Licensor having removed all of the
Licensee’s property and goods therefrom.
The Licensee will
keep the Offices clean and free of refuse and other obstructions
and will comply with a
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