Interest Free Security Deposit. The Allottee shall pay over and above the monthly running Maintenance Charges, an amount calculated at the rate of Rs 20 (twenty) per sq ft of the Apartment Area towards the Interest Free Security Deposit (“IFSD”) to the Developer on or before the Possession Date. The said IFSD shall be kept with the Developer/Association in order to secure adequate provision of the maintenance services and due performance of the Allottee in promptly paying the maintenance bills and other charges as may be raised by the Developer/Association. The unused portion of such shall be transferred by the Developer to the Association without interest when incorporated.
Interest Free Security Deposit a.) Licensee shall pay Interest Free Security Deposit to DMRC, equal to 12 (Twelve) months license fee payable in advance.
Interest Free Security Deposit. 8.1 The Lessee covenants and agrees that during the Lease Term it shall keep with the Lessor, the Interest Free Security Deposit for due compliance, fulfillment, observance and performance in letter and spirit of the Lessee’s obligations towards the Lessor relating to the Demised Premises and use thereof. Accordingly, the Lessee shall keep deposited, as Interest Free Security Deposit, as stipulated in Item 11 of Schedule II due and payable for the Demised Premises for the period stated therein. This amount shall be deposited by the Lessee with the Lessor on the Commencement Date. The Interest Free Security Deposit should be paid by the Lessee on or before signing of this Lease Deed or as mutually agreed between the parties.
Interest Free Security Deposit. 8.1. The Lessee covenants and agrees that during the Lease Term it shall keep with the Lessor, the Interest Free Security Deposit for due compliance, fulfillment, observance and performance in letter and spirit of the Lessee’s obligations towards the Lessor relating to the Demised Premises and use thereof. Accordingly, the Lessee shall keep deposited, as Interest Free Security Deposit, as stipulated in Item 11 of Schedule II due and payable for the Demised Premises for the period stated therein. This amount shall be deposited by the Lessee with the Lessor on the Commencement Date.
Interest Free Security Deposit. Performance Security shall be refunded after the completion of full term of the License period i.e. 5 years from commencement date of License Agreement
Interest Free Security Deposit. 4.1. FuelEnt has deposited a Security Deposit of Rs. 1,00,000.00 [Rupees One Lakh only] to NRL. NRL is authorized to and/or forfeit the said Security Deposit against the violation of any regulatory provision and breach of terms and conditions of this agreement including addendums and/or supplementary/associate agreements/standard operating procedures.
Interest Free Security Deposit. As and by way of assurance to the LICENSOR, for the due and proper performance of all its obligations (whether mentioned herein and/or not) including the vacating of the LICENSED PREMISES, on the expiry of this Leave and License Agreement, (in addition to the payment of the License Fee and all other amounts as mentioned herein and as may be intimated hereafter) the LICENSEE have before the execution hereof deposited with the LICENSOR, a refundable adjustable non-interest bearing Security Deposit, equivalent to 10 (ten) months of gross License Fees amounting to Rs. /- (Rupees Only). Such an interest f ree Security Deposit is paid by the LICENSEE to the LICENSOR simultaneously with the execution of this Agreement in favour of Mr_______________ Only. The LICENSEE has agreed with the LICENSOR to maintain, during the term of this Leave and License, such minimum amount as a refundable adjustable non-interest bearing Security Deposit. The LICENSEE has agreed that such refundable non-interest bearing adjustable Security Deposit shall be retained by the LICENSOR till the time this Leave and License is valid/till the end of the LICENSED PERIOD. The LICENSEE have authorized the LICENSOR, at the option of the LICENSOR, to appropriate such refundable adjustable interest free security deposit towards any unpaid monthly License Fee and/ or breakages and/or damages and/or losses and/or repairs arising out of any act or omission by the LICENSEE, and any amount/s dues and/or defaulted by the LICENSEE, payable to the LICENSOR and/or to any third party, in any of which case/s, the LICENSEE shall immediately make good, all such shortfalls in the refundable adjustable interest free Security deposits, and the balance of the said refundable adjustable interest free security deposit, (after adjustment towards unpaid monthly License Fee and/or breakages and/or damages and/or losses and/or repairs, re-paintings and/or any other amounts what so ever due to the LICENSOR AND/OR ThIRD PARTy, including provision at actual for outstanding telephone bills, internet facility, electricity charges, cable television wiring installation losses, costs expenses and the likes) will be refunded by the LICENSOR to the LICENSEE, simultaneously against the LICENSEE handing over the vacant charge of the LICENSED PREMISES back to the LICENSOR, in the same state and condition in which it is, at the commencement of the license permission (reasonable wear and tear excepted). The liability of the LICENSOR t...
Interest Free Security Deposit. Performance Security will be refunded after successful completion of the full term of the License period i.e. 10 years from commencement date of License Agreement and after adjusting any dues payable to DMRC, reconciliation etc without any consideration of interest, or after completion of Lock in period of two years of the agreement & on receipt of an advance notice of 180 days after lock in period and after adjustment of all dues payable to DMRC by the licensee.
Interest Free Security Deposit. The Allottee shall pay, over and above the monthly running Maintenance Charges and the Maintenance Security Deposit, an amount equivalent to 6 (Six) months proposed monthly Maintenance Charges towards the Interest Free Security Deposit (“IFSD”) to the Promoter calculated at the rate of Rs 3.67 (Rupees Three and sixty-seven paise only) per square feet of the carpet area of the Apartment per month on Possession Date. The said IFSD shall be kept with the Promoter in order to secure adequate provision of the maintenance services and due performance of the Allottee in promptly paying the maintenance bills and other charges as raised by the Promoter/Maintenance Company/Association. If the said IFSD remains unutilised then the same shall be transferred to the Association as and when desired by the Association.
Interest Free Security Deposit. 3.2.1. The Licensee shall submit an interest free Security Deposit to the CMRL for a sum equivalent to INR 25,07,11,709, (Rupees Twenty five crore seven lakh eleven Thousand seven hundred and nine only) for the said Licensed Space(s) with a validity of three years. Further, security deposit shall also be submitted for advance license fee of any additional areas. This Security Deposit shall be submitted within 30 days of issue of the LOA. The Security Deposit shall be in the form of Bank Guarantee in favor of “Chennai Metro Rail limited”, drawn on any Public-Sector Bank and payable at Chennai. The Bank Guarantee for Security Deposit shall be renewed after every three years for a sum equivalent to one year‟s recurring fee (License fee + maintenance if any + utility area if any) of applicable License Fee for that year (i.e. License fee + maintenance fee if any) with a validity of three years.
