Common use of Interest Free Security Deposit / Performance Security Clause in Contracts

Interest Free Security Deposit / Performance Security. The Licensee shall deposit Interest Free Security Deposit / Performance Security to DMRC in advance equivalent to half of the Annual license fee calculated on a minimum average area given in Annexure1,2 for each of the station handed over or actual area of approved plan of advertisements as on date of submission of Interest Free Security Deposit / Performance Security, whichever is higher, at the rate applicable for subsequent financial year.

Interest Free Security Deposit / Performance Security. The Licensee shall deposit Interest Free Security Deposit / Performance Security to DMRC in advance equivalent to half of the Annual license fee calculated on a minimum average area given in Annexure1,2 Annexure1&2 for each of the station handed over or actual area of approved plan of advertisements as on date of submission of Interest Free Security Deposit / Performance Security, whichever is higher, at the rate applicable for subsequent financial year.