LICENSED SITE. 2.1.1 Subject to and in accordance with the terms and conditions set forth in this Agreement, and in particular subject to the due fulfillment of all the obligations assumed towards CMRL by the Licensee, CMRL hereby grants and authorizes the Licensee to the following (the “Specified Purpose”): a) To have access to Licensed Space(s) during the License Period, develop, finance, commission, operate, manage and maintain the Licensed Space(s) during the License Period at the cost and risk of the Licensee. Any development made by the Licensee on the Licensed Space(s) shall be deemed to be the property of CMRL and all the rights of the Licensee in the Licensed Space(s) shall relinquish in the favor of CMRL 2.1.2 Actual area shall be measured jointly at the time of providing access to the Licensed Site(s) / subject Site and in case there is any variation in the area, the License Fee shall be adjusted on pro-rata basis. 2.1.3 The licensee shall utilize the site for property development. The site cannot be left in its current condition nor can it be used as a parking facility.
Appears in 4 contracts
Samples: License Agreement, License Agreement, License Agreement
