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CONTRACT FOR LEASE

Of IT equipment and infrastructure

This Contract for Lease (hereinafter: the “Contract”) is entered into on 16 April 2019 in Herceg Novi, between:

1.

PORTONOVI RESORT MANAGEMENT COMPANY D.O.O. Herceg Novi, tax ID No. 03067637, registration number: 5-0744552, with its registered seat in Herceg Novi, at Brace Grakalica No. 94, Meljine, represented by CEO Rashad Aliyev (hereinafter referred to as the “Lessor”)

and

2.

_____________________________________________________­­__ _______________________________________________________ _______________________________________________________   (hereinafter referred to as the “Lessee”)


Article 1

SUBJECT OF THE AGREEMENT


The Lessor is the owner of the entire IT fiber optic infrastructure which is installed within the Portonovi Project in Kumbor, Herceg Novi, as well as of rack spaces located on the main and secondary equipment rooms, all managed by the Lessor.

The Lessee is interested in leasing of the part of the equipment and infrastructure, in line with his operational needs, and based of availability from the Lessor, under the terms and for the fee defined herein.

The Lessee understands and accepts that the devices which are placed in the rack spaces must be rack-mountable, and explicitly confirms to be aware of all technical requirements of the rack units. The Lessee particularly accept that in the event that any of the devices cannot be properly installed, he will, at his expense and based on the Lessor’s instructions, install rack shelves, to allow for their usage in line with this Contract.

The Lessee is not allowed to sub-lease or share the leased rack space with third parties, without the prior written consent of the Lessor.

The Lessee further understands and accepts that the Lessor may, during the term of this Contract, lease the subject IT equipment and infrastructure to third parties providing services which are similar or competitive to those provided by the Lessee.


Article 2

FEE AND TERM FOR FULFILLMENT


The lease fee (“Lease fee”) has been agreed as follows:
  • 30.00€ (thirty Euros) + VAT per month, per rack unit used for active equipment,
  • 10.00€ (ten Euros) + VAT per month, per rack unit used for passive equipment,
  • 5.00€ (five Euros) + VAT per month, per each fiber optic line used by the Lessee to provide its services to end users.

The Lease fee is payable monthly in advance, by the 5th (fifth) calendar day of each month for the subject month, based on the invoice of the Lessor.

For the purposes of calculation and invoicing of the Lease fee, the Parties will state the number of the leased rack units and fiber optic lines at the beginning of the lease term and on the occasion of each change of that number, by signing separate minutes.

 

Article 3

LEASE TERM

This Agreement is concluded for a definite term of 12 months, commencing on the date of its signing.

Each Party will have the right to unilateral discretionary termination of this Contract at any time, by sending a written termination notice with no less than 30 calendar days’ notice period.

The Lessee shall be obligated to settle all outstanding obligations relating to the Lease Fee until the moment of expiration, i.e. termination of the lease term.

 

Article 4

OBLIGATIONS OF THE PARTIES


The Lessor undertakes to:
  • ensure that the Lessee is able to use the IT equipment and infrastructure in line with the technical standards and conditions generally applicable in the IT industry;
  • secure that the fiber optic infrastructure is functional and operational while in use by the Lessee;
  • appoint a representative for the purpose of controlling the number of leased rack units and fiber optic lines, and for general correspondence with the Lessee relating to the contract performance;
  • complete all other obligations defined hereunder.


The Client undertakes to:
  • use all equipment and infrastructure with the care of a prudent businessman;
  • ensure that the equipment and infrastructure is handled by competent and qualified persons, otherwise he will be responsible for any damages caused;
  • timely fulfill all of his payment obligations towards the Lessor based on this Contract;
  • appoint a representative for the purpose of controlling the number of leased rack units and fiber optic lines, and for general correspondence with the Lessor relating to the contract performance,
  • notify the Lessor at least 1 hour in advance during regular working hours, of any technical issues due to which the Lessee would need access to the main or secondary equipment rooms,
  • notify the Lessor at least 1 work day in advance of any needs to upgrade the existing or install new equipment, and particularly to deliver to the Lessor the names of persons who will be representing the Lessor in the process;
  • fulfill any other contractual obligation.


Article 5

MISCELLANEOUS


The contracting parties hereby agree that all data, information and documentation arising from this Agreement represent the business secret, and undertake to keep the same not making it available in any way and in any form to third parties, binding their employees to the same that will work on the execution of this Agreement.

The provision of the preceding paragraph shall be binding upon the termination of this Agreement.

The Lessee warrants to the Lessor that he has all necessary approvals, consent and licenses which are required for lawful provision of his services to third parties, and in particular that he shall hold the Lessor harmless in the event of any third-party claims arising from unconscientious or illegal provision of services using the Lessor’s equipment and infrastructure.

This Agreement shall enter into force upon its signature by the parties.

Any amendment and supplement to this Agreement shall be made in writing.

Any provisions not regulated by the terms of this Agreement shall be subject to the provisions of the laws governing the subject matter.

The parties agree to resolve all disputes arising from this Agreement amicably in the spirit of good business practices and business ethics.

If the dispute is not resolved by mutual agreement, the same shall be resolved by the authorized court in Podgorica.

This Agreement is made in 2 (two) identical copies in Montenegrin and English language, each party retaining 1 (one) copy. The English version of this Agreement is only translation with no legal effect.


Za Zakupodavca / For the Lessor



________________________________________________

Rashad Aliyev

Izvršni direktor / Executive director



Za Zakupca / For the Lessee



________________________________________________

___________________________________

Izvršni direktor / Executive director


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