The Annual License Fees a. In lieu of the rights transferred to the Licensee for the property business space number …………………… at Xxxxx Xxxxxxx, the Licensee on has quoted an Annual License Fees of Rs. per Sqmt per month, to be paid to Maha-Metro during the entire license
The Annual License Fees a. The Annual License Fees as quoted in the financial bid shall be paid on annual basis, during the entire License tenure. The payment of Annual License Fees applicable for the first year (prorata basis) shall be made shall be made within 30 days of issuance of LOA by the authority. The Annual License Fees shall be paid on advance basis shall be due one month prior to the commencement of each agreement year. The Annual License Fee shall be escalated by 20% after every three Years on compounding basis.
b. The Annual License fee as applicable for the base year shall be computed as follows – Annual License Fees = License Fee per Sqmt. as quoted by Licensee (rate per sqmt per month) * Actual area of property Business space allotted to the Licensee. * 12 months
c. The applicable Goods and Service Tax (GST) along with applicable cess (if any) or any other taxes as applicable shall be payable in addition to the Total Consideration.
d. The charging of Annual license fee shall commence immediately after the end of moratorium period as applicable for the respective property business space, irrespective of scenario where fitment period is exceeding the allowed period.
e. The License Fees shall be paid in advance and shall be paid on yearly basis. The payment of Annual License Fees applicable for the first year (prorate basis after deducting the respective moratorium period) shall be paid within 30 days of issuance of LOA by the authority. The Annual License Fees shall be paid on advance basis shall be due one month prior to the commencement of each agreement year. The Annual License Fee shall be escalated by 20% after every three Years on compounding basis. The date of handing over of premises shall be treated as the day of commencement of License period/tenure.
f. The license fee shall be paid to Maha-Metro on yearly basis and shall be paid in advance by the last working day of the previous running year. This has also been illustrated below for better understanding of licensee – The Billing period - 1st April – 31st March Period for the issue of Demand Note - 1st March - 15th March Last Date of payment of Dues to Maha-Metro - 31st March. The license fee can be paid by Demand Draft/ Pay Order/NEFT/RTGS in favour of Maharashtra Metro Rail Corposation Ltd., payable at Nagpur. The designated account number for Maha- Metro and IFSC Code for crediting the Lincense fees will be provided in the demand note generated.
g. The payment of Annual Licensee fee shall be paid in ac...
