Common use of Grant of License Rights Clause in Contracts

Grant of License Rights. 3.1. On and from the Commencement Date and subject to the terms and conditions set forth in this Agreement, CMRL/LICENSOR grants and authorizes the Licensee the right to enter, develop, design, construct, complete, manage, operate and maintain the Project at the Project Site at its own cost, expense and risk for the License Period of 30+30 years from the Commencement Date. The License entitles the Licensee the following benefits, privileges, authorizations and entitlements, to be exercised at its own cost, expense and risk in accordance with Applicable Laws: 3.1.1. To develop, design, engineer, finance, procure, construct, operate and maintain the Project, including the building, the paved access-ways, landscaped green areas, utilities and services, telecommunication and other infrastructure, etc. in conformity with the Layout Plan (as approved by CMRL/LICENSOR in accordance with Article 6.1); 3.1.2. To market the Project and enter into agreements for grant of License rights and/or license of the property units through sub- License for a period which is co- terminus with the License Period at any point of time. 3.1.3. The Licensee shall confine its operations to the Project Site. The Licensee shall take all necessary precautions to keep persons and equipment within such areas, and to keep and restraint them from encroaching, damaging or degrading or adversely affecting the surrounding CMRL/LICENSOR area and property, or otherwise cause any interference to the passengers, visitors, employees, representatives and agents of the CMRL/LICENSOR . Any failure or default of the Licensee to comply with the provisions as above mentioned shall present CMRL/LICENSOR with a right to issue a notice to Licensee to rectify such failure or default within a stipulated time. If the failure or default is not rectified within the stipulated time, necessary penalty may be imposed by CMRL/LICENSOR and in such an event the Licensee shall pay the said penalty. 3.2. With effect from Commencement Date, the CMRL/ LICENSOR grants the License rights to the Licensee on the Project Site for the License Period, for development, construction, operation, management and maintenance of the Project. The Licensee hereby also agrees that it is acquiring the License rights on the Project Site to develop the Project only as specified under this Agreement. However, the ownership rights in respect of the Project Site and the building constructed on the said Project Site shall at all time vest with CMRL/LICENSOR only. 3.3. For avoidance of doubt, it is clarified that the Licensee is exclusively responsible for the execution of the Project and it shall bear the financial, technical, commercial, legal and other risks in relation thereto regardless of any escalation in cost, Change in Law, other contingencies, circumstances and/or hazards that may be encountered (foreseen or not unforeseen) during the License Period.

Grant of License Rights. 3.1. On and from the Commencement Date and subject to the terms and conditions set forth in this Agreement, CMRL/LICENSOR grants and authorizes the Licensee the right to enter, develop, design, construct, complete, manage, operate and maintain the Project at the Project Site at its own cost, expense and risk for the License Period of 30+30 15 years from the Commencement Date. The License entitles the Licensee the following benefits, privileges, authorizations and entitlements, to be exercised at its own cost, expense and risk in accordance with Applicable Laws: 3.1.1. To develop, design, engineer, finance, procure, construct, operate and maintain the Project, including the building, the paved access-ways, landscaped green areas, utilities and services, telecommunication and other infrastructure, etc. in conformity with the Layout Plan (as approved by CMRL/LICENSOR in accordance with Article 6.1); 3.1.2. To market the Project and enter into agreements for grant of License rights and/or license of the property units through sub- sub-License/sub-License for a period which is co- terminus co-terminous with the License Period at any point of time. 3.1.3. The Licensee shall confine its operations to the Project Site. The Licensee shall take all necessary precautions to keep persons and equipment within such areas, and to keep and restraint them from encroaching, damaging or degrading or adversely affecting the surrounding CMRL/LICENSOR area and property, or otherwise cause any interference to the passengers, visitors, employees, representatives and agents of the CMRL/LICENSOR . Any failure or default of the Licensee to comply with the provisions as above mentioned shall present CMRL/LICENSOR with a right to issue a notice to Licensee to rectify such failure or default within a stipulated time. If the failure or default is not rectified within the stipulated time, necessary penalty fine may be imposed by CMRL/LICENSOR and in such an event the Licensee shall pay the said penaltysame. 3.2. With effect from Commencement Date, the CMRL/ CMRL/LICENSOR grants the License rights to the Licensee on the Project Site for the License Period, for development, construction, operation, management and maintenance of the Project. The Licensee hereby also agrees that it is acquiring the License rights on the Project Site to develop the Project only as specified under this Agreement. However, the ownership rights in respect of the Project Site and over the building constructed on the said Project Site shall at all all-time vest with CMRL/LICENSOR only. 3.3. For avoidance of doubt, it is clarified that the Licensee is exclusively responsible for the execution of the Project and it shall bear the financial, technical, commercial, legal and other risks in relation thereto regardless of any escalation in cost, Change in Law, other contingencies, circumstances and/or hazards that may be encountered (foreseen or not unforeseen) during the License Period.

Grant of License Rights. 3.1. On and from the Commencement Date and subject to the terms and conditions set forth in this Agreement, CMRL/LICENSOR grants and authorizes the Licensee the right to enter, develop, design, construct, complete, manage, operate and maintain the Project at the Project Site at its own cost, expense and risk for the License Period of 30+30 years from the Commencement Date. The License entitles the Licensee the following benefits, privileges, authorizations and entitlements, to be exercised at its own cost, expense and risk in accordance with Applicable Laws: 3.1.1. To develop, design, engineer, finance, procure, construct, operate and maintain the Project, including the building, the paved access-ways, landscaped green areas, utilities and services, telecommunication and other infrastructure, etc. in conformity with the Layout Plan (as approved by CMRL/LICENSOR in accordance with Article 6.1); 3.1.2. To market the Project and enter into agreements for grant of License rights and/or license of the property units through sub- License for a period which is co- terminus terminous with the License Period at any point of time. 3.1.3. The Licensee shall confine its operations to the Project Site. The Licensee shall take all necessary precautions to keep persons and equipment within such areas, and to keep and restraint them from encroaching, damaging or degrading or adversely affecting the surrounding CMRL/LICENSOR area and property, or otherwise cause any interference to the passengers, visitors, employees, representatives and agents of the CMRL/LICENSOR . Any failure or default of the Licensee to comply with the provisions as above mentioned shall present CMRL/LICENSOR with a right to issue a notice to Licensee to rectify such failure or default within a stipulated time. If the failure or default is not rectified within the stipulated time, necessary penalty may be imposed by CMRL/LICENSOR and in such an event the Licensee shall pay the said penalty. 3.2. With effect from Commencement Date, the CMRL/ LICENSOR grants the License rights to the Licensee on the Project Site for the License Period, for development, construction, operation, management and maintenance of the Project. The Licensee hereby also agrees that it is acquiring the License rights on the Project Site to develop the Project only as specified under this Agreement. However, the ownership rights in respect of the Project Site and the building constructed on the said Project Site shall at all time times vest with CMRL/LICENSOR only. 3.3. For avoidance of doubt, it is clarified that the Licensee is exclusively responsible for the execution of the Project and it shall bear the financial, technical, commercial, legal and other risks in relation thereto regardless of any escalation in cost, Change in Law, other contingencies, circumstances and/or hazards that may be encountered (foreseen or not unforeseen) during the License Period.

Grant of License Rights. 3.1. On and from the Commencement Date and subject to the terms and conditions set forth in this Agreement, CMRL/LICENSOR grants and authorizes the Licensee the right to enter, develop, design, construct, complete, manage, operate and maintain the Project at the Project Site at its own cost, expense and risk for the License Period of 30+30 15 years from the Commencement Date. The License entitles the Licensee the following benefits, privileges, authorizations and entitlements, to be exercised at its own cost, expense and risk in accordance with Applicable Laws: 3.1.1. To develop, design, engineer, finance, procure, construct, operate and maintain the Project, including the building, the paved access-ways, landscaped green areas, utilities and services, telecommunication and other infrastructure, etc. in conformity with the Layout Plan (as approved by CMRL/LICENSOR in accordance with Article 6.1); 3.1.2. To market the Project and enter into agreements for grant of License rights and/or license of the property units through sub-License/sub- License for a period which is co- terminus co-terminous with the License Period at any point of time. 3.1.3. The Licensee shall confine its operations to the Project Site. The Licensee shall take all necessary precautions to keep persons and equipment within such areas, and to keep and restraint them from encroaching, damaging or degrading or adversely affecting the surrounding CMRL/LICENSOR area and property, or otherwise cause any interference to the passengers, visitors, employees, representatives and agents of the CMRL/LICENSOR . Any failure or default of the Licensee to comply with the provisions as above mentioned shall present CMRL/LICENSOR with a right to issue a notice to Licensee to rectify such failure or default within a stipulated time. If the failure or default is not rectified within the stipulated time, necessary penalty fine may be imposed by CMRL/LICENSOR and in such an event the Licensee shall pay the said penaltysame. 3.2. With effect from Commencement Date, the CMRL/ LICENSOR C MR L/ L I CE N SO R grants the License rights to the Licensee on the Project Site for the License Period, for development, construction, operation, management and maintenance of the Project. The Licensee hereby also agrees that it is acquiring the License rights on the Project Site to develop the Project only as specified under this Agreement. However, the ownership rights in respect of the Project Site and over the building constructed on the said Project Site shall at all time times vest with CMRL/LICENSOR only. 3.3. For avoidance of doubt, it is clarified that the Licensee is exclusively responsible for the execution of the Project and it shall bear the financial, technical, commercial, legal and other risks in relation thereto regardless of any escalation in cost, Change in Law, other contingencies, circumstances and/or hazards that may be encountered (foreseen or not unforeseen) during the License Period.