Common use of LOCKER LICENCE Clause in Contracts

LOCKER LICENCE. 1.1 The Bank as a licensor hereby grants to the Customer as a licensee, the license to use the safe deposit locker, the details of which are more particularly described in the Schedule to this Agreement (hereinafter referred to as the “Locker”), subject to the terms and conditions as set out under this Agreement. 1.2 The Customer hereby accepts the license granted in terms hereof for fee as specified in the Schedule by way of rent (the “Rent”) which shall be paid on or before the ….. day of …………… every year failing which the Customer shall be liable to pay penalty/ penal interest for defaulted rentals as per the schedule of service charges issued by the bank from time to time. The Bank shall have the right to revise the rent from time to time under intimation to the Customer. The customer shall apart from the rent, remit to/place with the Bank a Term Deposit which would cover three years’ rent and the charges for breaking open the locker in case of such eventuality. The customer hereby agrees that the Bank shall have an unqualified right to adjust the said deposit amount towards rent in default and other expenses including that to break open the locker in the event of default in payment of rent and that the customer shall have no claim afterwards on the said amount. 1.3 The license to use the Locker hereby granted is: (a) Personal and for the Customer’s own use and not for the use of any person other than the Customer; (b) Non- transferable; (c) Only for legitimate purposes such as storing of valuables like jewelry and documents but not for storing any cash or currency; (d) Not for storing: (i) arms, weapons, explosives, drugs and/ or any contraband material; and/ or (ii) any perishable material and/ or radioactive material and/ or any illegal substance; and/or (iii) any material which can create any hazard or nuisance to the Bank or to any of its customers. 1.4 The Customer shall have no right or property in the Locker other than the right to access and use the Locker in accordance with the terms and conditions specified under this Agreement. 1.5 The Customer shall be allowed to operate the Locker: (a) On a working day of the Bank during the specific time notified from time to time by the Bank for locker operation and in absence of such notification, during the business hours of the Bank. However, in the event of the Bank is not being able to operate for any reason beyond its control such as flood, riot, curfew, lockout, spread of pandemic, epidemic etc., the Bank shall not have any obligation to allow operation of Locker; (b) After the Customer entering the details of such operation in the Bank’s records in the form and manner as stipulated by the Bank; and (c) After the Customer provides identity proof, if so demanded by the Bank.

LOCKER LICENCE. 1.1 The Bank as a licensor hereby grants to the Customer as a licensee, the license to use the safe deposit locker, the details of which are more particularly described in the Schedule to this Agreement (hereinafter referred to as the “Locker”), subject to the terms and conditions as set out under this Agreement. 1.2 The Customer hereby accepts the license granted in terms hereof for fee by way of rent payable by the Customer as specified in the Schedule by way of rent (the “Rent”). The Customer can access Locker free of cost up to 5 (five) which times in a month. Locker access beyond the said free limit will attract service charges as communicated by the Bank from time to time. 1.3 The Rent amount specified in Schedule to this Agreement may be revised by the Bank from time to time at its discretion. The Bank will give prior written notice to the Customer about such revision of Rent with the option to terminate the Agreement if the revised Rent is not acceptable to the Customer. 1.4 In the event of merger, closure, shifting of branch warranting physical relocation of the Lockers, the Bank shall be paid on or before the ….. day of …………… every year failing which give public notice in two newspapers (including one local daily in vernacular language) in this regard and the Customer shall be liable intimated at least two (2) months in advance along with alternative options to pay penalty/ penal interest for defaulted rentals as per change or close the schedule Locker. In case of service charges issued by the bank from time unplanned shifting due to time. The natural calamities or any other such emergency situation, Bank shall have the right take efforts to revise the rent from time to time under intimation to the Customer. The customer shall apart from the rent, remit to/place with the Bank a Term Deposit which would cover three years’ rent and the charges for breaking open the locker in case of such eventuality. The customer hereby agrees that the Bank shall have an unqualified right to adjust the said deposit amount towards rent in default and other expenses including that to break open the locker in the event of default in payment of rent and that the customer shall have no claim afterwards on the said amountintimate Customers suitably. 1.3 1.5 The license to use the Locker hereby granted is: (a) Personal and for the Customer’s own use and not for the use of any person other than the Customer; (b) Non- transferable; (c) Only for legitimate purposes such as storing of valuables like precious goods, jewelry and documents but not for storing any cash or currency; (d) Not for storing: (i) arms, weapons, explosives, drugs and/ or any contraband material; and/ or or (ii) (ii) any perishable material and/ or radioactive material and/ or any illegal substance; and/or (iii) any material which can create any hazard or nuisance to the Bank or Bank, to any of its customerscustomers or the locker storage infrastructure and premises. 1.4 1.6 The Customer shall have no right or property in the Locker other than the right to access and use the Locker in accordance with the terms and conditions specified under this Agreement. 1.5 1.7 The Customer shall be allowed to operate the Locker: (a) On a working day of the Bank during the specific time notified from time to time by the Bank for locker operation and in absence of such notification, during the business hours of the Bank. However, in the event of the Bank is not being able to operate for any reason beyond its control such as flood, riot, curfew, lockout, spread of pandemic, epidemic lockout etc., the Bank shall not have any obligation to allow operation of Locker; (b) After the Customer entering the details of such operation in the Bank’s records in the form and manner as stipulated by the Bank; and (c) After the Customer provides identity proofproof and other Bank prescribed documents, if so so, demanded by the Bank.

LOCKER LICENCE. 1.1 The Bank as a licensor hereby grants to the Customer as a licensee, the license licence to use the safe deposit locker, the details of which are more particularly described in the Schedule to this Agreement (hereinafter referred to as the “Locker”), in consideration of the Rent (defined hereinafter) and subject to the terms and conditions as set out under this AgreementAgreement (“License”). 1.2 The Customer hereby accepts the license granted in terms hereof for fee as specified in the Schedule hereunder by way of rent (the “Rent”). 1.3 A key deposit of Rs.500 (Rupees Five Hundred Only) which for the Locker shall be paid on or before the ….. day of …………… every year failing which by the Customer shall be liable to pay penalty/ penal interest for defaulted rentals as per the schedule Bank which is returnable when the Locker is vacated and the key to the Locker is returned in good condition and there is no arrears of service rent or charges issued by the bank from time to timeCustomer. The Bank shall have the right to revise the rent deposit amount may change from time to time under intimation to as per the Customer. The customer shall apart from guidelines of the rent, remit to/place with the Bank a Term Deposit which would cover three years’ rent and the charges for breaking open the locker in case of such eventuality. The customer hereby agrees that the Bank shall have an unqualified right to adjust the said deposit amount towards rent in default and other expenses including that to break open the locker in the event of default in payment of rent and that the customer shall have no claim afterwards on the said amountBank. 1.3 1.4 The license License to use the Locker hereby granted is: (a) Personal and for the Customer’s own use and not for the use of any person other than the Customer; (b) Non- transferable; (c) Only for legitimate purposes such as storing of valuables like jewelry and documents but not for storing any cash or currencyetc.; 1 Retain as Applicable (d) Not for storing: (i) i. cash or currency and/or ii. arms, weapons, explosives, drugs and/ or any contraband material; and/ or (ii) iii. any perishable material and/ or radioactive material and/ or any illegal substance; and/or (iii) iv. any material which can create any hazard or nuisance to the Bank or to any of its customers. 1.4 1.5 The Customer shall have no right or property in the Locker other than the right to access and use the Locker in accordance with the terms and conditions specified under this Agreement. 1.5 1.6 The Customer shall be allowed to operate the Locker: (a) On a working day of the Bank during ordinary banking hours for customers i.e. from 10 AM to 2 PM (“Banking Hours”) and will remain entirely closed on Bank’s holidays. The Customer is to note that the specific time notified Banking Hours may be subject to change from time to time by the Bank for locker operation and in absence of such notification, during the business hours of the Banktime. However, in the event of the Bank is not being able to operate for any reason beyond its control such as or natural calamities or Acts of God including but not limiting to flood, riot, curfew, lockout, spread of pandemic, epidemic lockout etc., the Bank shall not have any obligation to allow operation of Locker. Further, during extraordinary contingencies like war, riots, floods etc., and/or or natural calamities or Acts of God (as stated earlier) the Bank reserves the right of closing the safe deposit vault/ discontinuing the facility for such time as it may consider necessary; (b) After the Customer entering the details of such operation in the Bank’s records in the form and manner as stipulated by the Bank; and (c) After the Customer provides identity proof, if so demanded by the Bank. 1.7 Locker can be rented by the Customer either in his / her sole name or in the name of himself/ herself jointly with one or more customers (in such case each person shall be the Customer). Access to the Locker shall be held by the Customer and in case of joint Customers by all of them together or by such one or more of them as may be indicated by special instructions given in writing by all the Customers from time to time and which instructions any one of them may cancel in which case access will only be allowed to, all of them together. Access may also be allowed to a duly appointed agent by the Customer, provided the authority in favor of such agent is xxxx recorded in the books of the Bank and in the case of joint Customers such authority may be revoked by any one of them at any time. 1.8 In the event the Bank is required to give access to any government enforcement agencies on the orders of the court/appropriate competent authority, the Customer will be informed by the Bank about such seizure, recovery or attachment of the Locker through email or SMS or any other acceptable mode of communication. 1.9 Any work to be done to the Locker shall be done exclusively by workmen/authorized technician appointed by the Bank. 1.10 If the Customer does not have an ongoing banking relationship with the Bank, the Locker facilities maybe provided in accordance with this Agreement after complying with the customer due diligence criteria, as under the Master Direction – Know Your Customer (KYC) Directions, 2016 (as updated from time to time) and subject to on- going compliance.

LOCKER LICENCE. 1.1 The Bank as a licensor hereby grants to the Customer as a licensee, the license to use the safe deposit locker, the details of which are more particularly described in the Schedule to this Agreement (hereinafter referred to as the “Locker”), subject to the terms and conditions as set out under this Agreement. 1.2 The Customer hereby accepts the license granted in terms hereof for fee as specified in the Schedule by way of rent (the “Rent”) which shall be paid on or before the ….. day of …………… every year failing which the Customer shall be liable to pay penalty/ penal interest for defaulted rentals as per the schedule of service charges issued by the bank from time to time. The Bank shall have the right to revise the rent from time to time under intimation to the Customer. The customer shall apart from the rent, remit to/place with the Bank a Term Deposit which would cover three years’ rent and the charges for breaking open the locker in case of such eventuality. The customer hereby agrees that the Bank shall have an unqualified right to adjust the said deposit amount towards rent in default and other expenses including that to break open the locker in the event of default in payment of rent and that the customer shall have no claim afterwards on the said amount. The said Xxxx Xxxxxxx may be maintained by the customer only if so requested by the Bank. 1.3 The license to use the Locker hereby granted is: (a) Personal and for the Customer’s own use and not for the use of any person other than the Customer; (b) Non- transferable; (c) Only for legitimate purposes such as storing of valuables like jewelry and documents but not for storing any cash or currency; (d) Not for storing: (i) arms, weapons, explosives, drugs and/ or any contraband material; and/ or (ii) any perishable material and/ or radioactive material and/ or any illegal substance; and/or (iii) any material which can create any hazard or nuisance to the Bank or to any of its customers. 1.4 The Customer shall have no right or property in the Locker other than the right to access and use the Locker in accordance with the terms and conditions specified under this Agreement. 1.5 The Customer shall be allowed to operate the Locker: (a) On a working day of the Bank during the specific time notified from time to time by the Bank for locker operation and in absence of such notification, during the business hours of the Bank. However, in the event of the Bank is not being able to operate for any reason beyond its control such as flood, riot, curfew, lockout, spread of pandemic, epidemic etc., the Bank shall not have any obligation to allow operation of Locker; (b) After the Customer entering the details of such operation in the Bank’s records in the form and manner as stipulated by the Bank; and (c) After the Customer provides identity proof, if so demanded by the Bank.