Building Lease Contract
Conclusion of building Lease Contract
The lessor: the Export Processing Zone Administration, Ministry of Economic Affairs (hereinafter referred to as Party A)
The Lessee: Philips Electronic Building Elements Industries ( Taiwan ) Ltd. (hereinafter referred to as Party B)
Whereas Party A leases to the building located in Nanzi Processing Zone, both parties agree on the following lease terms.
1. Object of lease: located at B2 floor and F/8, 7 Jingsi Road, Nanzi Processing and export Zone, occupying an area of
2. The term of lease is ten (10) years from May 16 of the 89 year to May 15 of the 99 year of the Republic of China. If Party
B intends to continue the lease, it shall notify Party A three months in advance to conclude a new lease agreement.
3. If Party B requests to terminate the lease prior to expiration of the contract, it shall notify Party A in written form three months
in advance, and pay to Party A as indemnification three months’ rent upon early termination of the lease; however, Party A
shall refund to Party B without interest the security paid by it according to Article 4 hereof.
4. Rent and security:
(1). The rent for the object is one hundred and twenty one New Taiwan Dollar per square meter per month and the monthly
rent is two million, two hundred and ninety-eight thousand New Taiwan Dollar, which shall be paid on the 16 day each
month upon issuance of the payment bill.
(2). The security is four million, five hundred and ninety-six thousand New Taiwan Dollar (two months rent), which shall be
paid by Party B by a check expiring on May 25 of the 89 year of the Republic of China. Party A shall refund to Party B
without interest the security when Party B returns the object of lease hereunder; however, if Party B hasn’t paid its
outstanding rent, or Party A finds that there are any reasons attributable to Party B (regardless of natural loss) when the
object of lease hereunder is returned, or Party B fails to p