Common use of Consideration to Maha-Metro Clause in Contracts

Consideration to Maha-Metro. 4.1.1 The consideration to Maha-Metro shall consist of Annual License Fees, payable as per the terms of the License Agreement. 4.1.2 The financial offer quoted by the Licensee is amounting to Rs. per Sqft per month. The Annual License Fees shall be charged on actual area handed over to the Successful Bidder / licensee. 4.1.3 The Annual License fee as applicable for the base year shall be computed as follows – Annual License Fees = License Fee per Sqm. as quoted by Licensee (rate per sqmt per month) * Actual area of property Business space allotted to the Licensee. * 12 months 4.1.4 The license fee shall be escalated by 5% every year on compounding basis. 4.1.5 The charging of license fee shall commence immediately after the end of Fitment period i.e. a period of 30 days from the date of handing over of Property Business space to the Licensee, irrespective of scenario where fitment period is exceeding the allowed period of 30 days. 4.1.6 The License fee shall be charged from the 31st day from the date of signing of License Agreement and shall be charged until the termination/completion of agreement/Contract. 4.1.7 The Annual License Fees shall be paid on quarterly basis and shall be paid in four instalments i.e. on 1st January, 1st April, 1st July, and 1st October, of each calendar year. 4.1.8 The license fee shall be paid in advance as illustrated below: The Billing period 1st January – 31st March 1st April – 30th June 1st July – 31st September 1st October – 31st December Period for the issue of Demand Note 16th November to 15th December 16th February to 15th March 16th May to 15th June 16th August to 15th September Last Date of payment of Dues to Maha-Metro 31th December 31th March 30th June 30th September 4.1.9 The first payment of License Fees applicable for initial 03 months from the date of signing of License Agreement shall be paid within 30 days of issuance of LOA by Maha-Metro. The adjustment of License Fees duly considering fitment period and pro-rata adjustment to fit the billing period as mentioned in clause 4.1.8 above shall be taken into consideration while charging of License Fees applicable for second half of first year tenure (i.e. 03 months to 12 months of the License Tenure.) 4.1.10 The License Fees shall be paid for complete 03 months tenure from the 3rd payment due to Successful Bidder/ Licensee. 4.1.11 In the event if the license tenure at the end of the agreement is lesser than the period of three months, then the license fees shall be paid on pro-rata basis. 4.1.12 In the event of default of Licensee in making payments of License fees, maintenance charges (as applicable), charges for electric supply, air conditioning charges, taxes or any other dues towards MAHA-METRO in prescribed time, MAHA-METRO shall be entitled to discontinue / disconnect the service of electricity /air conditioning / water / sewer etc.. in licensed premises and debar the Licensee from availing use of common areas / facilities (viz., use of stair case / lifts, etc). Apart from the said rights as stated, MAHA-METRO shall also have the rights including but not limited to restrict the access of Licensee in licensed premises and recover all dues along with interest. 4.1.13 The license fee can be paid by Demand Draft/ Pay Order/NEFT/RTGS in favour of Maharashtra Metro Rail Corposation Ltd., payable at Nagpur. The designated account number for Maha-Metro and IFSC Code for crediting the Lincense fees will be provided in the demand note generated. 4.1.14 In the event if the licensee fails to take-over the possession of the Property Business Space on the date communicated by Maha-Metro, the license period shall be deemed to have commenced from effective date, irrespective of the date of actual handing over of the Property Business Space. 4.1.15 In case of extension of the Commencement Date or Fitment Period or both, as the case may be, for whatsoever reason, the escalation on the License Fee and maintenance fee shall be counted from the commencement date.

Consideration to Maha-Metro. 4.1.1 The consideration to Maha-Metro shall consist of Annual License Fees, payable as per the terms of the License Agreement. 4.1.2 The financial offer quoted by the Licensee is amounting to Rs. Rs per Sqft per month. The Annual License Fees shall be charged on actual area handed over to the Successful Bidder / licensee. 4.1.3 The Annual License fee as applicable for the base year shall be computed as follows – Annual License Fees = License Fee per Sqm. as quoted by Licensee (rate per sqmt per month) * Actual area of property Business space allotted to the Licensee. * 12 months– 4.1.4 The license fee shall be escalated by 5% every year on compounding basis. 4.1.5 The charging of license fee shall commence immediately after the end of Fitment period i.e. a period of 30 days from the date of handing over of Property Business space to the Licensee, irrespective of scenario where fitment period is exceeding the allowed period of 30 days. 4.1.6 The License fee shall be charged from the 31st day from the date of signing of License Agreement and shall be charged until the termination/completion of agreement/Contract. 4.1.7 The Annual License Fees shall be paid on quarterly half yearly basis and shall be paid in four two instalments i.e. on 1st January, 1st April, 1st July, April and 1st October, of each calendar year. 4.1.8 The license fee shall be paid in advance as illustrated below: The Billing period 1st January – 31st March 1st April – 30th June 1st July – 31st September 1st October – –31st December March Period for the issue of Demand Note 16th November to 15th December 16th February to 15th March 16th May to 15th June 16th August to 15th September Last Date of payment of Dues to Maha-Metro 31th December 31th March 30th June 30th September 4.1.9 The first payment of License Fees applicable for initial 03 06 months from the date of signing of License Agreement shall be paid within 30 days of issuance of LOA by Maha-Metro. The adjustment of License Fees duly considering fitment period and pro-rata adjustment to fit the billing period as mentioned in clause 4.1.8 above shall be taken into consideration while charging of License Fees applicable for second half of first year tenure (i.e. 03 06 months to 12 months of the License Tenure.) 4.1.10 The License Fees shall be paid for complete 03 06 months tenure from the 3rd payment due to Successful Bidder/ Licensee. 4.1.11 In the event if the license tenure at the end of the agreement is lesser than the period of three months, then the license fees shall be paid on pro-rata basis. 4.1.12 In the event of default of Licensee in making payments of License fees, maintenance charges (as applicable), charges for electric supply, air conditioning charges, taxes or any other dues towards MAHA-METRO in prescribed time, MAHA-METRO shall be entitled to discontinue / disconnect the service of electricity /air conditioning / water / sewer etc.. in licensed premises and debar the Licensee from availing use of common areas / facilities (viz., use of stair case / lifts, etc). Apart from the said rights as stated, MAHA-METRO shall also have the rights including but not limited to restrict the access of Licensee in licensed premises and recover all dues along with interest. 4.1.13 The license fee can be paid by Demand Draft/ Pay Order/NEFT/RTGS in favour of Maharashtra Metro Rail Corposation Ltd., payable at Nagpur. The designated account number for Maha-Metro and IFSC Code for crediting the Lincense fees will be provided in the demand note generated. 4.1.14 In the event if the licensee fails to take-over the possession of the Property Business Space on the date communicated by Maha-Metro, the license period shall be deemed to have commenced from effective date, irrespective of the date of actual handing over of the Property Business Space. 4.1.15 In case of extension of the Commencement Date or Fitment Period or both, as the case may be, for whatsoever reason, the escalation on the License Fee and maintenance fee shall be counted from the commencement date.

Consideration to Maha-Metro. 4.1.1 The consideration to Maha-Metro shall consist of Annual License Fees, payable as per the terms of the License Agreement. 4.1.2 The financial offer quoted by the Licensee is amounting to Rs. per Sqft per month. The Annual License Fees shall be charged on actual area handed over to the Successful Bidder / licensee. 4.1.3 The Annual License fee as applicable for the base year shall be computed as follows – Annual License Fees = License Fee per Sqm. as quoted by Licensee (rate per sqmt per month) * Actual area of property Business space allotted to the Licensee. * 12 months 4.1.4 The license fee shall be escalated by 510% every year on compounding basis. 4.1.5 The charging of license fee shall commence immediately after the end of Fitment period i.e. period i. e. a period of 30 days from the date of handing over of Property Business space to the Licensee, irrespective of scenario where fitment period is exceeding the allowed period of 30 days. 4.1.6 The License fee shall be charged from the 31st day from the date of signing of License Agreement and shall be charged until the termination/completion of agreement/Contract. 4.1.7 The Annual License Fees shall be paid on quarterly half yearly basis and shall be paid in four two instalments i.e. on 1st January, 1st April, 1st July, April and 1st October, of each calendar year. 4.1.8 The license fee shall be paid in advance as illustrated below: The Billing period 1st January – 31st March 1st April – 30th June 1st July – 31st September 1st October – –31st December March Period for the issue of Demand Note 16th November to 15th December 16th February to 15th March 16th May to 15th June 16th August to 15th September Last Date of payment of Dues to Maha-Metro 31th December 31th 31st March 30th June 30th September 4.1.9 The first payment of License Fees applicable for initial 03 06 months from the date of signing of License Agreement shall be paid within 30 days of issuance of LOA by Maha-Metro. The adjustment of License Fees duly considering fitment period and pro-rata adjustment to fit the billing period as mentioned in clause 4.1.8 above shall be taken into consideration while charging of License Fees applicable for second half of first year tenure (i.e. 03 06 months to 12 months of the License Tenure.) 4.1.10 The License Fees shall be paid for complete 03 06 months tenure from the 3rd payment due to Successful Bidder/ Licensee. 4.1.11 In the event if the license tenure at the end of the agreement is lesser than the period of three months, then the license fees shall be paid on pro-rata basis. 4.1.12 In the event of default of Licensee in making payments of License fees, maintenance charges (as applicable), charges for electric supply, air conditioning charges, taxes or any other dues towards MAHA-METRO in prescribed time, MAHA-METRO shall be entitled to discontinue / disconnect the service of electricity /air conditioning / water / sewer etc.. in licensed premises and debar the Licensee from availing use of common areas / facilities (viz., use of stair case / lifts, etc). Apart from the said rights as stated, MAHA-METRO shall also have the rights including but not limited to restrict the access of Licensee in licensed premises and recover all dues along with interest. 4.1.13 The license fee can be paid by Demand Draft/ Pay Order/NEFT/RTGS in favour of Maharashtra Metro Rail Corposation Corporation Ltd., payable at Nagpur. The designated account number for Maha-Metro and IFSC Code for crediting the Lincense License fees will be provided in the demand note generated. 4.1.14 In the event if the licensee fails to take-over the possession of the Property Business Space on the date communicated by Maha-Metro, the license period shall be deemed to have commenced from effective date, irrespective of the date of actual handing over of the Property Business Space. 4.1.15 In case of extension of the Commencement Date or Fitment Period or both, as the case may be, for whatsoever reason, the escalation on the License Fee and maintenance fee shall be counted from the commencement date.

Consideration to Maha-Metro. 4.1.1 The consideration to Maha-Metro shall consist of Annual License Fees, payable as per the terms of the License Agreement. 4.1.2 The financial offer quoted by the Licensee is amounting to Rs. per Sqft per month. The Annual License Fees shall be charged on actual area handed over to the Successful Bidder / licensee. 4.1.3 The Annual License fee as applicable for the base year shall be computed as follows – Annual License Fees = License Fee per Sqm. as quoted by Licensee (rate per sqmt per month) * Actual area of property Business space allotted to the Licensee. * 12 months 4.1.4 The license fee shall be escalated by 5% every year on compounding basis. 4.1.5 The charging of license fee shall commence immediately after the end of Fitment period i.e. a period of 30 days from the date of handing over of Property Business space to the Licensee, irrespective of scenario where fitment period is exceeding the allowed period of 30 days. 4.1.6 The License fee shall be charged from the 31st day from the date of signing of License Agreement and shall be charged until the termination/completion of agreement/Contract. 4.1.7 The Annual License Fees shall be paid on quarterly half yearly basis and shall be paid in four two instalments i.e. on 1st January, 1st April, 1st July, April and 1st October, of each calendar year. 4.1.8 The license fee shall be paid in advance as illustrated below: The Billing period 1st January – 31st March 1st April – 30th June 1st July – 31st September 1st October – –31st December March Period for the issue of Demand Note 16th November to 15th December 16th February to 15th March 16th May to 15th June 16th August to 15th September Last Date of payment of Dues to Maha-Metro 31th December 31th 31st March 30th June 30th September 4.1.9 The first payment of License Fees applicable for initial 03 06 months from the date of signing of License Agreement shall be paid within 30 days of issuance of LOA by Maha-Metro. The adjustment of License Fees duly considering fitment period and pro-rata adjustment to fit the billing period as mentioned in clause 4.1.8 above shall be taken into consideration while charging of License Fees applicable for second half of first year tenure (i.e. 03 06 months to 12 months of the License Tenure.) 4.1.10 The License Fees shall be paid for complete 03 06 months tenure from the 3rd payment due to Successful Bidder/ Licensee. 4.1.11 In the event if the license tenure at the end of the agreement is lesser than the period of three months, then the license fees shall be paid on pro-rata basis. 4.1.12 In the event of default of Licensee in making payments of License fees, maintenance charges (as applicable), charges for electric supply, air conditioning charges, taxes or any other dues towards MAHA-METRO in prescribed time, MAHA-METRO shall be entitled to discontinue / disconnect the service of electricity /air conditioning / water / sewer etc.. in licensed premises and debar the Licensee from availing use of common areas / facilities (viz., use of stair case / lifts, etc). Apart from the said rights as stated, MAHA-METRO shall also have the rights including but not limited to restrict the access of Licensee in licensed premises and recover all dues along with interest. 4.1.13 The license fee can be paid by Demand Draft/ Pay Order/NEFT/RTGS in favour of Maharashtra Metro Rail Corposation Corporation Ltd., payable at Nagpur. The designated account number for Maha-Metro and IFSC Code for crediting the Lincense License fees will be provided in the demand note generated. 4.1.14 In the event if the licensee fails to take-over the possession of the Property Business Space on the date communicated by Maha-Metro, the license period shall be deemed to have commenced from effective date, irrespective of the date of actual handing over of the Property Business Space. 4.1.15 In case of extension of the Commencement Date or Fitment Period or both, as the case may be, for whatsoever reason, the escalation on the License Fee and maintenance fee shall be counted from the commencement date.

Consideration to Maha-Metro. 4.1.1 The consideration to Maha-Metro shall consist of Annual License Fees, payable as per the terms of the License Agreement. 4.1.2 The financial offer quoted by the Licensee is amounting to Rs. per Sqft per month. The Annual License Fees shall be charged on actual area handed over to the Successful Bidder / licensee. 4.1.3 The Annual License fee as applicable for the base year shall be computed as follows – Annual License Fees = License Fee per Sqm. as quoted by Licensee (rate per sqmt per month) * Actual area of property Business space allotted to the Licensee. * 12 months– 4.1.4 The license fee shall be escalated by 5% every year on compounding basis. 4.1.5 The charging of license fee shall commence immediately after the end of Fitment period i.e. a period of 30 days from the date of handing over of Property Business space to the Licensee, irrespective of scenario where fitment period is exceeding the allowed period of 30 days. 4.1.6 The License fee shall be charged from the 31st day from the date of signing of License Agreement and shall be charged until the termination/completion of agreement/Contract. 4.1.7 The Annual License Fees shall be paid on quarterly half yearly basis and shall be paid in four two instalments i.e. on 1st January, 1st April, 1st July, April and 1st October, of each calendar year. 4.1.8 The license fee shall be paid in advance as illustrated below: The Billing period 1st January – 31st March 1st April – 30th June 1st July – 31st September 1st October – 31st December March Period for the issue of Demand Note 16th November to 15th December 16th February to 15th March 16th May to 15th June 16th August to 15th September Last Date of payment of Dues to Maha-Metro 31th December 31th March 30th June 30th September 4.1.9 The first payment of License Fees applicable for initial 03 06 months from the date of signing of License Agreement shall be paid within 30 days of issuance of LOA by Maha-Metro. The adjustment of License Fees duly considering fitment period and pro-rata adjustment to fit the billing period as mentioned in clause 4.1.8 above shall be taken into consideration while charging of License Fees applicable for second half of first year tenure (i.e. 03 06 months to 12 months of the License Tenure.) 4.1.10 The License Fees shall be paid for complete 03 06 months tenure from the 3rd payment due to Successful Bidder/ Licensee. 4.1.11 In the event if the license tenure at the end of the agreement is lesser than the period of three six months, then the license fees shall be paid on pro-rata basis. 4.1.12 In the event of default of Licensee in making payments of License fees, maintenance charges (as applicable), charges for electric supply, air conditioning charges, taxes or any other dues towards MAHA-METRO in prescribed time, MAHA-METRO shall be entitled to discontinue / disconnect the service of electricity /air conditioning / water / sewer etc.. in licensed premises and debar the Licensee from availing use of common areas / facilities (viz., use of stair case / lifts, etc). Apart from the said rights as stated, MAHA-METRO shall also have the rights including but not limited to restrict the access of Licensee in licensed premises and recover all dues along with interest. 4.1.13 The license fee can be paid by Demand Draft/ Pay Order/NEFT/RTGS in favour of Maharashtra Metro Rail Corposation Ltd., payable at Nagpur. The designated account number for Maha-Metro and IFSC Code for crediting the Lincense fees will be provided in the demand note generated. 4.1.14 In the event if the licensee fails to take-over the possession of the Property Business Space on the date communicated by Maha-Metro, the license period shall be deemed to have commenced from effective date, irrespective of the date of actual handing over of the Property Business Space. 4.1.15 In case of extension of the Commencement Date or Fitment Period or both, as the case may be, for whatsoever reason, the escalation on the License Fee and maintenance fee shall be counted from the commencement date.

Consideration to Maha-Metro. 4.1.1 The consideration to Maha-Metro shall consist of Annual License Fees, payable as per the terms of the License Agreement. 4.1.2 The financial offer quoted by the Licensee is amounting to Rs. per Sqft per month. The Annual License Fees shall be charged on actual area handed over to the Successful Bidder / licensee. 4.1.3 The Annual License fee as applicable for the base year shall be computed as follows – Annual License Fees = License Fee per Sqm. as quoted by Licensee (rate per sqmt per month) * Actual area of property Business space allotted to the Licensee. * 12 months 4.1.4 The license fee shall be escalated by 5% every year on compounding basis. 4.1.5 The charging of license fee shall commence immediately after the end of Fitment period i.e. a period of 30 days from the date of handing over of Property Business space to the Licensee, irrespective of scenario where fitment period is exceeding the allowed period of 30 days. 4.1.6 The License fee shall be charged from the 31st day from the date of signing of License Agreement and shall be charged until the termination/completion of agreement/Contract. 4.1.7 The Annual License Fees shall be paid on quarterly half yearly basis and shall be paid in four two instalments i.e. on 1st January, 1st April, 1st July, April and 1st October, of each calendar year. 4.1.8 The license fee shall be paid in advance as illustrated below: The Billing period 1st January – 31st March 1st April – 30th June 1st July – 31st September 1st October – 31st December March Period for the issue of Demand Note 16th November to 15th December 16th February to 15th March 16th May to 15th June 16th August to 15th September Last Date of payment of Dues to Maha-Metro 31th December 31th March 30th June 30th September 4.1.9 The first payment of License Fees applicable for initial 03 06 months from the date of signing of License Agreement shall be paid within 30 days of issuance of LOA by Maha-Metro. The adjustment of License Fees duly considering fitment period and pro-rata adjustment to fit the billing period as mentioned in clause 4.1.8 above shall be taken into consideration while charging of License Fees applicable for second half of first year tenure (i.e. 03 06 months to 12 months of the License Tenure.) 4.1.10 The License Fees shall be paid for complete 03 06 months tenure from the 3rd payment due to Successful Bidder/ Licensee. 4.1.11 In the event if the license tenure at the end of the agreement is lesser than the period of three six months, then the license fees shall be paid on pro-rata basis. 4.1.12 In the event of default of Licensee in making payments of License fees, maintenance charges (as applicable), charges for electric supply, air conditioning charges, taxes or any other dues towards MAHA-METRO in prescribed time, MAHA-METRO shall be entitled to discontinue / disconnect the service of electricity /air conditioning / water / sewer etc.. in licensed premises and debar the Licensee from availing use of common areas / facilities (viz., use of stair case / lifts, etc). Apart from the said rights as stated, MAHA-METRO shall also have the rights including but not limited to restrict the access of Licensee in licensed premises and recover all dues along with interest. 4.1.13 The license fee can be paid by Demand Draft/ Pay Order/NEFT/RTGS in favour of Maharashtra Metro Rail Corposation Ltd., payable at Nagpur. The designated account number for Maha-Metro and IFSC Code for crediting the Lincense fees will be provided in the demand note generated. 4.1.14 In the event if the licensee fails to take-over the possession of the Property Business Space on the date communicated by Maha-Metro, the license period shall be deemed to have commenced from effective date, irrespective of the date of actual handing over of the Property Business Space. 4.1.15 In case of extension of the Commencement Date or Fitment Period or both, as the case may be, for whatsoever reason, the escalation on the License Fee and maintenance fee shall be counted from the commencement date.

Consideration to Maha-Metro. 4.1.1 The consideration to Maha-Metro shall consist of Annual License Fees, payable as per the terms of the License Agreement. 4.1.2 The financial offer quoted by the Licensee is amounting to Rs. Rs per Sqft SqM per month. The Annual License Fees shall be charged on actual area handed over to the Successful Bidder / licensee. 4.1.3 The Annual License fee as applicable for the base year shall be computed as follows – Annual License Fees = License Fee per Sqm. as quoted by Licensee (rate per sqmt per month) * Actual area of property Business space allotted to the Licensee. * 12 months– 4.1.4 The license fee shall be escalated by 510% every year on compounding basis. 4.1.5 The charging of license fee shall commence immediately after the end of Fitment period i.e. a period of 30 days from the date of handing over of Property Retail Business space for dry and 60 days for Wet, to the Licensee, Licensee irrespective of scenario where fitment period is exceeding the allowed period of 30 daysdays for Dry and 60 days for Wet areas. 4.1.6 The License fee shall be charged from the 31st day from the date handing over of signing of License Agreement Retail Business space and shall be charged until the termination/completion of agreement/Contract. 4.1.7 The Annual License Fees shall be paid on quarterly half yearly basis and shall be paid in four two instalments i.e. on 1st January, 1st April, 1st July, April and 1st October, of each calendar year. 4.1.8 The license fee shall be paid in advance as illustrated below: The Billing period 1st January – 31st March 1st April – 30th June 1st July – 31st September 1st October – –31st December March Period for the issue of Demand Note 16th November to 15th December 16th February to 15th March 16th May to 15th June 16th August to 15th September Last Date of payment of Dues to Maha-Metro 31th December 31th March 30th June 30th September 4.1.9 The first payment of License Fees applicable for initial 03 06 months from the date handing over of signing of License Agreement shall Retail Business space be paid within 30 days of issuance of LOA by Maha-Metro. .The adjustment of License Fees duly considering fitment period and pro-rata adjustment to fit the billing period as mentioned in clause 4.1.8 above shall be taken into consideration while charging of License Fees applicable for second half of first year tenure (i.e. 03 06 months to 12 months of the License Tenure.) 4.1.10 The License Fees shall be paid for complete 03 06 months tenure from the 3rd payment due to Successful Bidder/ Licensee. 4.1.11 In the event if the license tenure at the end of the agreement is lesser than the period of three months, then the license fees shall be paid on pro-rata basis. 4.1.12 In the event of default of Licensee in making payments of License fees, maintenance charges (as applicable), charges for electric supply, air conditioning charges, taxes or any other dues towards MAHA-METRO in prescribed time, MAHA-METRO shall be entitled to discontinue / disconnect the service of electricity /air conditioning / water / sewer etc.. in licensed premises and debar the Licensee from availing use of common areas / facilities (viz., use of stair case / lifts, etc). Apart from the said rights as stated, MAHA-METRO shall also have the rights including but not limited to restrict the access of Licensee in licensed premises and recover all dues along with interest. 4.1.13 The license fee can be paid by Demand Draft/ Draft/Pay Order/NEFT/RTGS in favour of Maharashtra Metro Rail Corposation Corporation Ltd., payable at NagpurPune. The designated account number for Maha-Metro and IFSC Code for crediting the Lincense license fees will be provided in the demand note generated. 4.1.14 In the event if the licensee fails to take-over the possession of the Property Retail Business Space on the date communicated by Maha-Metro, the license period shall be deemed to have commenced from effective date, irrespective of the date of actual handing over of the Property Retail Business Space. 4.1.15 In case of extension of the Commencement Date or Fitment Period or both, as the case may be, for whatsoever reason, the escalation on the License Fee and maintenance fee shall be counted from the commencement date.

Consideration to Maha-Metro. 4.1.1 4.1.1. The consideration to Maha-Metro shall consist of Annual License Fees, payable as per the terms of the License Agreement. 4.1.2 4.1.2. The financial offer quoted by the Licensee is amounting to Rs. per Sqft per month. The Annual License Fees shall be charged on actual area handed over to the Successful Bidder / licensee. 4.1.3 4.1.3. The Annual License fee as applicable for the base year shall be computed as follows – Annual License Fees = License Fee per Sqm– 4.1.4. as quoted by Licensee (rate per sqmt per month) * Actual area of property Business space allotted to the Licensee. * 12 months 4.1.4 The license fee shall be escalated by 5% every year on compounding basis. 4.1.5 4.1.5. The charging of license fee shall commence immediately after the end of Fitment period i.e. a period of 30 days from the date of handing over of Property Business space to the Licensee, irrespective of scenario where fitment period is exceeding the allowed period of 30 days. 4.1.6 4.1.6. The License fee shall be charged from the 31st day from the date of signing of License Agreement and shall be charged until the termination/completion of agreement/Contract. 4.1.7 4.1.7. The Annual License Fees shall be paid on quarterly half yearly basis and shall be paid in four two instalments i.e. on 1st January, 1st April, 1st July, April and 1st October, October of each calendar year. 4.1.8 4.1.8. The license fee shall be paid in advance as within 15 days of the commencement of that half year. This has also been illustrated below: below for better understanding of licensee – The Billing period 1st January – 31st March 1st April – 30th June 1st July – 31st September 1st October – 31st December March Period for the issue of Demand Note 16th November to 15th December 16th February to 15th March 16th May to 15th June 16th August to 15th September Last Date of payment of Dues to Maha-Metro 31th December 31th 15th March 30th June 30th 15th September 4.1.9 4.1.9. The first payment of License Fees applicable for initial 03 06 months from the date of signing of License Agreement shall be paid within 30 days of issuance of LOA by Maha-Metro. The adjustment of License Fees duly considering fitment period and pro-rata adjustment to fit the billing period as mentioned in clause 4.1.8 above shall be taken into consideration while charging of License Fees applicable for second half of first year tenure (i.e. 03 06 months to 12 months of the License Tenure.) 4.1.10 4.1.10. The License Fees shall be paid for complete 03 06 months tenure from the 3rd payment due to Successful Bidder/ Licensee. 4.1.11 4.1.11. In the event if the license tenure at the end of the agreement is lesser than the period of three six months, then the license fees shall be paid on pro-rata basis. 4.1.12 4.1.12. In the event of default of Licensee in making payments of License fees, maintenance charges (as applicable), charges for electric supply, air conditioning charges, taxes or any other dues towards MAHA-METRO in prescribed time, MAHA-METRO shall be entitled to discontinue / disconnect the service of electricity /air conditioning / water / sewer etc.. in licensed premises and debar the Licensee from availing use of common areas / facilities (viz., use of stair case / lifts, etc). Apart from the said rights as stated, MAHA-METRO shall also have the rights including but not limited to restrict the access of Licensee in licensed premises and recover all dues along with interest. 4.1.13 4.1.13. The license fee can be paid by Demand Draft/ Pay Order/NEFT/RTGS in favour of Maharashtra Metro Rail Corposation Ltd., payable at Nagpur. The designated account number for Maha-Metro and IFSC Code for crediting the Lincense fees will be provided in the demand note generated. 4.1.14 4.1.14. In the event if the licensee fails to take-over the possession of the Property Business Space on the date communicated by Maha-Metro, the license period shall be deemed to have commenced from the effective date, irrespective of the date of actual handing over of the Property Business Space. 4.1.15 4.1.15. In case of extension of the Commencement Date or Fitment Period or both, as the case may be, for whatsoever reason, the escalation on the License Fee and maintenance fee shall be counted from the commencement date.