Common use of Fitment period Clause in Contracts

Fitment period. For carrying out the fit-outs, finishing works etc., Licensee would be permitted a rent free fitment period of 30 days from the date of handing over of the space. The Licensee shall have to complete in all respects the development of the tendered / licensed space, within the period of 30 days from the date of ‘handing over’ of the space by MAHA-METRO under the License Agreement, as license fee would be applicable after expiry of 30 days rent free fitment period. The agreement shall be valid for a period of 09 years from the date of handover of property business space, irrespective of extension of fitment period by Maha-Metro. The license fee shall commence immediately after expiry of applicable rent-free Fitment period. The escalation on License Fees shall be counted from the commencement date of License tenure.

Fitment period. For carrying out the fit-outs, finishing works etc., Licensee would be permitted a rent free fitment period of 30 days from the date of handing over of the space. The Licensee shall have to complete in all respects the development of the tendered / licensed space, within the period of 30 days from the date of ‘handing over’ of the space by MAHA-METRO under the License Agreement, as license fee would be applicable after expiry of 30 days rent free fitment period. The agreement shall be valid for a period of 09 years from the date of handover of property business space, irrespective of extension of fitment period by Maha-Metro. The license fee shall commence immediately after expiry of applicable rent-free Fitment fitment period. The escalation on License Fees shall be counted from the commencement date of License tenure.