Common use of Handover of the Project Site Clause in Contracts

Handover of the Project Site. The Parties shall, within 7 (seven) days of the Licensor notice in this behalf to the Licensee prior to Appointed Date, carry out through the Licensor Representative and the Licensee, on a mutually agreed date and time, inspection of the Project Site and preparation of a memorandum containing an inventory of the Project Site including the vacant and unencumbered land, buildings, structures, road works, trees and any other immovable property on or attached to the Project Site. Signing of the memorandum, in two counterparts (each of which shall constitute an original), by the authorised representatives of the Parties shall, subject to the provisions of Clause 10.2.2 be deemed to constitute a valid license to the Licensee for free and unrestricted use and development of the vacant and unencumbered Project Site during the License Period under and in accordance with the provisions of this Agreement and for no other purpose whatsoever.