Surrender of Contract Agreement a) There shall be a lock-in period of 2 years from the commencement of license period. If the Licensee is desirous of surrendering and exiting from the license hereby created and foreclosure of the contract before expiry of the lock-in period of two years, the License Agreement shall deemed to be surrendered on the date mentioned in surrender notice, subject to confirmation by DMRC. In such a case, the balance Interest Free Security Deposit/ Performance Security shall be forfeited in favour of DMRC after adjustment of outstanding dues, if any, payable to DMRC. No grace period shall be provided to licensee in such a case. DMRC may also recover the balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security, from the other contracts of licensee in DMRC. Balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security, shall also be recoverable from the licensee before licensee is permitted to remove their establishment(s) or else DMRC will seize their property treating at zero/nil value. DMRC shall be free to dispose-off the said property / goods in whatsoever manner as it deems fit. Licensee shall have no claim for compensation or consideration / damages on this account.

Surrender of Contract Agreement a) If the Licensee is desirous of terminating the license hereby created before expiry of the lock-in period of two years, the License Agreement shall deemed to be terminated on the date mentioned in termination/ surrender notice, subject to confirmation by DMRC. In such a case, the balance Interest Free Security Deposit/ Performance Security shall be forfeited in favour of DMRC after adjustment of outstanding dues, if any, payable to DMRC. No grace period of 30 days shall be provided to licensee in such a case. DMRC may also recover the balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security, from the other contracts of licensee in DMRC. Balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security, shall also be recoverable from the licensee before licensee is permitted to remove their establishment(s) or else DMRC will seize their property at zero/nil value. DMRC shall be free to dispose-off the said seized property / goods in whatsoever manner as it deems fit. Licensee shall have no claim for compensation or consideration / damages on this account.

Surrender of Contract Agreement. If licensee desires to exit from license agreement before acompletion of license period, Licensee shall give surrender notice to DMRC subject to minimum Period of surrender notice as specified below:

Related to Surrender of Contract Agreement

CONTRACT AGREEMENT [The successful tenderer shall fill in this form in accordance with the instructions indicated] THIS AGREEMENT made the [insert: number] day of [insert: month], [insert: year]. BETWEEN (1) [insert complete name of Procuring Entity and having its principal place of business at [insert: address of Procuring Entity] (hereinafter called “Procuring Entity”), of the one part; and (2) [insert name of Supplier], a corporation incorporated under the laws of [insert: country of Supplier] and having its principal place of business at [insert: address of Supplier] (hereinafter called “the Supplier”), of the other part.
Amendment of Contract This agreement contains the whole of the agreement between the Company and the Consultant and there are no other warranties, representations, conditions or collateral agreements except as set forth in this agreement. Any modification to this agreement must be in writing and signed by the parties hereto or it shall have no effect and shall be void.
Extra Contract Agreements (a) The Employer agrees not to enter into any agreement or contract with its employees, individually or collectively, which in any way conflicts with the terms and provisions of this Agreement. Any such agreement shall be null and void.

Surrender of Contract Agreement Sample Clauses