Common use of Occupancy of FBR Reserved Apartments Clause in Contracts

Occupancy of FBR Reserved Apartments. (a) The Concessionaire shall provide keys of the FBR Reserved Apartments to FBR to handover the possession of the apartments six months before the start of the operations phase; (b) FBR shall provide a list of rooms occupants with their grades at least three months before the start of the operations phase; (c) The Concessionaire shall sign the tenancy agreement with the officials communicated by FBR; (d) If FBR fails to fill the occupancy of the reserved apartments within one months from the date of the start of operations or the date of apartment vacation, as the case may be, the Concessionaire shall have the right to rent out the apartment to general public until such time as FBR notifies the Concessionaire of its intention to occupy the apartment by way of one month’s notice; (e) In case of renting of the FBR Reserved Apartment by the Concessionaire to the general public, the Concessionaire shall retain an amount equivalent to the average of the ceiling rates, prevalent at the time, as per the entitlement of FBR officials for the type of apartment, and shall pass on the excess monthly rent received from the tenant to FBR; ;