Common use of Tenure of License Clause in Contracts

Tenure of License. 3.1.1. At the time of termination/natural completion of license, Maha-Metro reserves the right to ask the Licensee to restore the said tendered/ advertisement space(s) as per original allotment. 3.1.2. The License tenure shall be inclusive of fitment period of 60 days. 3.1.3. The co-branding rights of the said station shall be made available for a period of 05 (five) Years unless otherwise terminated by Maha-Metro or surrendered by the successful bidder, in term of provisions of License Agreement. 3.1.4. The tenure of License Agreement shall commence from the date of providing permission to erect the branding name of company along with station name (i.e. from the date handover of xxxxx xxxxxxx for co-branding purpose) or start of commercial service date of the selected station, whichever is later. 3.1.5. The Licensee shall not be eligible to claim any compensation on account of any delay in handing over of respective advertisement spaces to him. 3.1.6. There shall be a lock in period of two (2) years from the date of commencement of License Agreement or the date of handing over of station premises for branding, whichever is later. 3.1.7. The Successful bidder shall have option to exit from the License Agreement after completion of lock in period of 2 (two) years. For it, the Successful bidder shall have to issue 180 days prior notice to Maha-Metro. Such prior notice intimation can be given after one and half (1 ½) years however option to exit will be available only after two (2) years. The exit clause shall be as per provisions of Draft License Agreement annexed as Volume - II. 3.1.8. The tenure of any additional advertisement area handed over subsequently shall be co- terminus with above period irrespective of date of actual handing over for such additional space.

Tenure of License. 3.1.1. The exclusive advertisement rights of Selected Metro Stations shall be provided for a period of 02 years from the Effective Date unless otherwise terminated by Maha-Metro or surrendered by the Licensee, as per the provisions of License Agreement. The License Period shall be further extended by two (02) tenures of two (02) years each, however, the same shall be subject to extension/renewal of Permission/License by Nagpur Municipal Corporation. The extension/renewal and shall be subject to revision in terms. 3.1.2. The tenure of License Agreement shall commence from the Effective Date. 3.1.3. There shall be a lock in period of 01 year from the date of commencement of License Period. 3.1.4. The Licensee shall have option to exit from the License Agreement immediately after completion of lock in period of 01 (One) year. For it, the Licensee shall have to issue 90 days prior notice to Maha-Metro. The Fitment period of 7 days shall be provided to Licensee from the date of handing over of xxxxx xxxxxxx. The License Tenure shall be inclusive of fitment period of 7 days. 3.1.5. The tenure of the License Period of any additional area handed over subsequently shall be co-terminus with above period irrespective of date of actual handing over for such additional space. 3.1.6. The Licensee shall not be eligible to claim any compensation on account of any delay in handing over of respective advertisement spaces to him. 3.1.7. At the time of termination/natural completion of license, Maha-Metro reserves the right to ask the Licensee to restore the said tendered/ advertisement space(s) panels/ hoardings as per original allotment. 3.1.2. The License tenure shall be inclusive of fitment period of 60 days. 3.1.3. The co-branding rights of the said station shall be made available for a period of 05 (five) Years unless otherwise terminated by Maha-Metro or surrendered by the successful bidder, in term of provisions of License Agreement. 3.1.4. The tenure of License Agreement shall commence from the date of providing permission to erect the branding name of company along with station name (i.e. from the date handover of xxxxx xxxxxxx for co-branding purpose) or start of commercial service date of the selected station, whichever is later. 3.1.5. The Licensee shall not be eligible to claim any compensation on account of any delay in handing over of respective advertisement spaces to him. 3.1.6. There shall be a lock in period of two (2) years from the date of commencement of License Agreement or the date of handing over of station premises for branding, whichever is later. 3.1.7. The Successful bidder shall have option to exit from the License Agreement after completion of lock in period of 2 (two) years. For it, the Successful bidder shall have to issue 180 days prior notice to Maha-Metro. Such prior notice intimation can be given after one and half (1 ½) years however option to exit will be available only after two (2) years. The exit clause shall be as per provisions of Draft License Agreement annexed as Volume - II. 3.1.8. The tenure of any additional advertisement area handed over subsequently shall be co- terminus with above period irrespective of date of actual handing over for such additional space.

Tenure of License. 3.1.1. At the time of termination/natural completion of license, Maha-Metro reserves the right to ask the Licensee to restore the said tendered/ advertisement space(s) as per original allotment. 3.1.2. The License tenure shall be inclusive of fitment period of 60 days. 3.1.3. The co-branding rights of the said station shall be made available for a period of 05 (five) Years unless otherwise terminated by Maha-Metro or surrendered by the successful bidder, in term of provisions of License Agreement. 3.1.4. The tenure of License Agreement shall commence from the date of providing permission to erect the branding name of company along with station name (i.e. from the date handover of xxxxx xxxxxxx for co-branding purpose) or start of commercial service date of the selected station, whichever is later. 3.1.5. The Licensee shall not be eligible to claim any compensation on account of any delay in handing over of respective advertisement spaces to him. 3.1.6. There shall be a lock in period of two (2) years from the date of commencement of License Agreement or the date of handing over of station premises for branding, whichever is later. 3.1.7. The Successful bidder licensee shall have option to exit from the License Agreement after completion of lock in period of 2 (two) years. For it, the Successful bidder shall have to issue 180 days prior notice to Maha-Metro. Such prior notice intimation can be given after one and half (1 ½) years however option to exit will be available only after two (2) years. The exit clause shall be as per provisions of Draft License Agreement annexed as Volume - II. 3.1.8. The tenure of any additional advertisement area handed over subsequently shall be co- terminus with above period irrespective of date of actual handing over for such additional space.