Normal Transfer definition
Examples of Normal Transfer in a sentence
In the event of Normal Transfer the Licensor along with the Appraising Team shall conduct a final survey of the Leased Premises and the facilities 2 months prior to the Scheduled Date of Normal Transfer.
The date of expiry of the Term shall be the Scheduled Date of Normal Transfer.
The Licensor and Licensee shall by mutual consent agree to appoint an independent Appraising Team at least 1 year (12 months) prior to the Scheduled Date of Normal Transfer.
Until the Actual Date of Normal Transfer, the Leased Premise s shall remain at the sole risk of the Licensee, and the Licensee shall be solely responsible for any loss of or damage caused to or suffered by the Licensee for any reasons whatsoever to whole or any part of the Leased Premises, unless such loss or damage caused to or suffered by the Licensee is due to any act of default or omission or negligence on the part of the Licensor.
The Licensee shall take away the Movable Contracted Assets except the Essential Movable Contracted Assets in the event of Normal Transfer or early termination of this Agreement, at its own cost within a period of 12 months from the Scheduled Date of Normal Transfer, in the event of expiry of the Term of this Agreement and within a period of 21 months from the date of appointment of the Appraising Team in the event of Termination of this Agreement.
Accordingly, Schedule Date of Normal Transfer shall also be construed to have been extended by the corresponding period.
In the event of Normal Transfer or Termination of this Agreement, the Licensor shall not be liable for any liability and/or damages to the Licensee or to any other third party except in accordance with the provisions of this Clause.