Common use of Recovery of outstanding dues Clause in Contracts

Recovery of outstanding dues. Notwithstanding anything contained in this Agreement, the Railway shall be at liberty to receive any payments /outstanding dues including penalties against the Licensee, in any of the contracts over Indian Railway entered in to by the license (an individual licensee includes a partnership firm in which the individual licensee is a member), from the Security Deposit provided by the Licensee after which Railway shall communicate to the Licensee of such deductions. In such an event, the Licensee shall be obligated to ensure that the Security Deposit is restored to its original value within seven (7) working days from such deduction failing which the same shall be deemed as material breach by the Licensee and entitle the Railway to terminate this Agreement.

Recovery of outstanding dues. Notwithstanding anything contained in this Agreement, the Railway shall be at liberty to receive any payments /outstanding payments/outstanding dues including penalties against the Licensee, in any of the contracts over Indian Railway entered in to by the license (as an individual licensee includes or by a partnership firm in which the individual licensee he is a member), from the Security Deposit provided by the Licensee after which Railway shall communicate to the Licensee of such deductions. In such an event, the Licensee shall be obligated to ensure that the Security Deposit is restored to its original value within seven (7) working days from such deduction failing which the same shall be deemed as material breach by the Licensee and entitle the Railway to terminate this Agreement.