Common use of Termination of License Agreement by Maha-Metro Clause in Contracts

Termination of License Agreement by Maha-Metro. 15.3.1. In the event of application of clauses 15.2.1(a) and (b) above, Maha-Metro shall issue a 30 (Thirty) days’ Notice to cure the default prior to considering the events specified therein as Licensee's events of default, to pay the outstanding Annual license fees and/or other dues along with an interest of 15% (Fifteen percent) per annum on the outstanding dues after the due date and falling in arrears. Interest shall continue to be accrued on monthly compounding basis until all the payable amount of Annual License Fees and/or other dues are finally squared up. Such interest shall be charged on outstanding dues for the actual day(s) of delay in payment. a. In the event of the Licensee failing to deposit the outstanding License Fee and other dues within the 30 (Thirty) days' cure notice, Maha-Metro shall issue a Termination Notice to make payment of outstanding License Fee and other dues within next 15 (Fifteen) days. b. In the event of Licensee failing to deposit the dues within fifteen (15) days from the date of issue of Termination Notice, it shall constitute Licensee's Event of Default under this Agreement and shall entitle Maha-Metro to forfeit the Security Deposit and terminate the License Agreement."

Termination of License Agreement by Maha-Metro. 15.3.116.5.1. In the event of application of clauses 15.2.1(a) 16.1.10 and (b) 16.1.11 above, Maha-Metro shall issue a 30 (Thirty) days’ Notice to cure the default prior to considering the events specified therein as Licensee's events of default, to pay the outstanding Annual license fees and/or other dues along with an interest of 15% (Fifteen percent) per annum on the outstanding dues after the due date and falling in arrears. Interest shall continue to be accrued on monthly compounding basis until all the payable amount of Annual License Fees and/or other dues are finally squared up. Such interest shall be charged on outstanding dues for the actual day(s) of delay in payment. a. In the event of the Licensee failing to deposit the outstanding License Fee and other dues within the 30 (Thirty) days' cure notice, Maha-Metro shall issue a Termination Notice to make payment of outstanding License Fee and other dues within next 15 (Fifteen) days. b. In the event of Licensee failing to deposit the dues within fifteen (15) days from the date of issue of Termination Notice, it shall constitute Licensee's Event of Default under this Agreement and shall entitle Maha-Metro to forfeit the Security Deposit and terminate the License Agreement." 16.5.2. Further license shall be blacklisted for five years for participating in the tenders / bids of Maha- Metro.

Termination of License Agreement by Maha-Metro. 15.3.116.5.1. In the event of application of clauses 15.2.1(a) 16.1.10 and (b) 16.1.11 above, Maha-Metro shall issue a 30 (Thirty) days’ Notice to cure the default prior to considering the events specified therein as Licensee's events of default, to pay the outstanding Annual license fees and/or other dues along with an interest of 15% (Fifteen percent) per annum on the outstanding dues after the due date and falling in arrears. Interest shall continue to be accrued on monthly compounding basis until all the payable amount of Annual License Fees and/or other dues are finally squared up. Such interest shall be charged on outstanding dues for the actual day(s) of delay in payment. a. In the event of the Licensee failing to deposit the outstanding License Fee and other dues within the 30 (Thirty) days' cure notice, Maha-Metro shall issue a Termination Notice to make payment of outstanding License Fee and other dues within next 15 (Fifteen) days.make b. In the event of Licensee failing to deposit the dues within fifteen (15) days from the date of issue of Termination Notice, it shall constitute Licensee's Event of Default under this Agreement and shall entitle Maha-Metro to forfeit the Security Deposit and terminate the License Agreement." 16.5.2. Further license shall be blacklisted for three years for participating in the tenders / bids of Maha- Metro.

Termination of License Agreement by Maha-Metro. 15.3.1. In the event of application of clauses 15.2.1(a) and (b) above, Maha-Metro shall issue a 30 (Thirty) days’ Notice to cure the default prior to considering the events specified therein as Licensee's events of default, to pay the outstanding Annual license fees and/or other dues along with an interest of 15% (Fifteen percent) per annum on the outstanding dues after the due date and falling in arrears. Interest shall continue to be accrued on monthly compounding basis until all the payable amount of Annual License Fees and/or other dues are finally squared up. Such interest shall be charged on outstanding dues for the actual day(s) of delay in payment. a. In the event of the Licensee failing to deposit the outstanding License Fee and other dues within the 30 (Thirty) days' cure notice, Maha-Metro shall issue a Termination Notice to make payment of outstanding License Fee and other dues within next 15 (Fifteen) days. b. In the event of Licensee failing to deposit the dues within fifteen (15) days from the date of issue of Termination Notice, it shall constitute Licensee's Event of Default under this Agreement and shall entitle Maha-Metro to forfeit the Security Deposit and terminate the License Agreement." 15.3.2. Further license shall be blacklisted for three years for participating in the tenders / bids of Maha-Metro.