Key Deposit. 2.1 The Licensee must pay the Key Deposit to the Licensor on or before the Commencement Date. 2.2 The Licensor must refund the Key Deposit to the Licensee when the key is returned. If the Licensee does not return the key on or before the last day of the Licence Term (or upon vacating the berth, whichever is earlier) the Licensee forfeits the Key Deposit.
Appears in 4 contracts
Samples: Berthing Licence Agreement, Berthing Licence Agreement, Berthing Licence Agreement
