Forfeiture of Security Deposit. In case the Institute is obliged to make any recoveries on any account from the Security Deposit of the service provider, the service provider shall be obliged to make good the Security Deposit amount within a period of 10 (ten) days after the receipt of information in this regard, failing which the service provider shall have to pay an interest of 12 percent per annum for the period of delay in making good the Security Deposit.
Appears in 2 contracts
Sources: Hall of Residence Agreement, Hall of Residence Agreement