Breach of License Agreement/ Licensee’s Events of Default. Following shall be considered as Material Breach of the License Agreement by Licensee resulting in Licensee’s Events of Default:
Breach of License Agreement/ Licensee’s Events of Default. 15.2.1. Following shall be considered as Material Breach of the License Agreement by Licensee resulting in Licensee’s Events of Default:
a. If the Licensee has failed to perform or discharge any of its obligations in accordance with the provisions of License Agreement, unless such event has occurred because of a Force Majeure Event, or due to reasons solely attributable to Maha-Metro without any contributory factor of the Licensee.
b. If the Licensee fails to pay Annual License Fee, utility charges, common area charges, penalty or Damage herein specified or any other dues to be paid by the Licensee to Maha-Metro by the stipulated date.
c. If the Licensee during pendency of the License Agreement becomes insolvent or is put under receivership by a competent court.
d. If the Licensee is in persistent non-compliance of the written instructions of a Maha- Metro officials.
e. If the Licensee or any of its representatives cause an incident or accident that results in injury or death to Maha-Metro employees/ commuters or loss to Maha-Metro property.
f. If the Licensee is in violation of any of the other Clauses of License Agreement and after three written notice (unless otherwise specifically mentioned therein) from Maha-Metro fails to cure the Default to the satisfaction of Maha-Metro.
g. If any representation made or warranties given by the Licensee under this Agreement is found to be false or misleading.
h. If the Licensee engaging or knowingly has allowed any of its employees or agents to engage in any activity prohibited by law or which constitutes a breach of or an offence under any law, in the course of any activity undertaken pursuant to this Agreement.
i. If the Licensee has created any encumbrance, charges or lien in favour of any person or agency, over the Licensed Space except expressly permitted under this Agreement.
j. If a resolution for voluntary winding up has been passed by the shareholders of the Licensee.
k. If any petition for winding up of the Licensee has been admitted and liquidator or provisional liquidator has been appointed or the Licensee has been ordered to wind up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of Maha-Metro, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Licensee under this Agreement.
l. If the Licensee has abandoned the Licensed Sp...
