Whereas, the Lessor is the owner of the land and factory ( as hereinafter defined) as specified in Clause1 of this agreement and desires to lease out the said Land and factory to the Lessee and the Lessee desires and agrees to take on lease the said Land and factory from the lessor under the terms and conditions of this Agreement for its business operation as contemplated and agreed under the Joint Venture Agreement dated 8 February 2556 by and between the Lessor and the Lessee (hereinafter referred to as the “ Joint Venture Agreement”)