For Metro stations Sample Clauses

For Metro stations yet to be Operational i.e. Commercial services will start on a future date. 5.1 Tenure of License Agreement: Exclusive Co-Branding license for upcoming metro stations shall be granted for a period of Ten (10) years with lock in period of 2 years after the expiry of fitment period of 120 days from the date of handing over of the xxxxx xxxxxxx or date of start of commercial service of the selected xxxxx xxxxxxx whichever is later). The fitment period shall be of 120 days or till the actual date of start of commercial service of the respective station whichever is later, after the date of handing over of station(s) for Co-branding subsequent to issue of Letter of Acceptance (LOA). 5.2 All advertising/Co-branding spaces/plans as per the scope detailed in clause 5.1 of the RFP document at the selected Xxxxx xxxxxxx proposed by the Licensee are subject to prior written approval from DMRC with regard to operational feasibility, aesthetics, and safety& security concerns. In this regard, a committee comprising of DMRC officials shall be formed for granting approval. The committee shall communicate its decision in writing within ten (10) working days from the date of submission of proposals by Licensee to DMRC for display of advertisements. 5.3 The GST/advertisement taxes/any other tax as applicable from time to time, shall also be borne by the licensee along with the license fee.
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For Metro stations yet to be Operational i.e. Commercial services will start on a future date. 5.1 Tenure of License Agreement: Exclusive Co-Branding license for the above 6 metro stations shall be granted for a period of Ten(10) years with lock in period of 2 years after the expiry of fitment period (of 120 days or date of start of commercial service of the selected xxxxx xxxxxxx whichever is later) from the date of handing over of the xxxxx xxxxxxx. The fitment period shall be of 120 days or till the actual date of start of commercial service of the respective station whichever is later, after the date of handing over of station(s) for Co-branding subsequent to issue of Letter of Acceptance (LOA). 5.2 All advertising/Co-branding spaces/plans as per the scope detailed in clause 5.1 of the RFP document at the selected Xxxxx xxxxxxx proposed by the Licensee are subject to prior written approval from DMRC with regard to operational feasibility, aesthetics, and safety& security concerns. In this regard, a committee comprising of DMRC officials shall be formed for granting approval. The committee shall communicate its decision in writing within ten (10) working days from the date of submission of proposals by Licensee to DMRC for display of advertisements. 5.3 The GST/advertisement taxes/any other tax as applicable from time to time, shall also be borne by the licensee along with the license fee. 5.4 The property tax applicable, if any, on the property of DMRC shall be borne by DMRC. 5.5 All other statutory taxes, statutory dues, local levies, asapplicable (other than those mentioned above) shall be charged extra and will have to be remitted along with the License Fees for onward remittance to the Government. The Licensee shall indemnify DMRC from any claims that may arise from the statutory authorities in connection with this License. 5.6 Payment of stamp duty on agreement, if any, to be executed in pursuance of this tender will be borne by Licensee. 5.7 In case of Licensee opts to exit from the contract after the lock in period of two years, it shall give an advance notice of 180 days. This notice of surrender can be given only after a period of 1and ½ years, but option to exit will be available only after 2 years. 5.8 In case the licensee exits before the lock in period of two years the interest free security deposit shall be forfeited to DMRC as per the provisions of the agreement. 5.9 The License would be further extendable for a period of 5 years on mutually agreed Terms a...
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