Termination of License Agreement by Maha-Metro Clause Samples

The 'Termination of License Agreement by Maha-Metro' clause grants Maha-Metro the authority to end the license agreement under specified circumstances. Typically, this clause outlines the conditions under which Maha-Metro can terminate the agreement, such as breach of contract, non-payment, or failure to comply with operational requirements. It may also detail the notice period and any obligations of the licensee upon termination, such as vacating premises or settling outstanding dues. The core function of this clause is to provide Maha-Metro with a clear legal mechanism to exit the agreement if the licensee fails to meet their obligations, thereby protecting its interests and ensuring operational flexibility.
Termination of License Agreement by Maha-Metro. 15.3.1. Provided that in the event of application of clauses 15.2 (a) and (b) above, Maha-Metro shall give to the Licensee 30 days time to cure the default prior to considering the events specified therein as Licensee’s events of default and in the event the Licensee remedies the default to the satisfaction of the Maha-Metro within the cure period, the event shall not be considered as a Licensee Event of Default. In case the licensee fails to remedify the default to the satisfaction of the Maha-Metro within the cure period, then Maha-Metro shall be within its rights to disconnect the utility services & terminate the License Agreement. The Licensee voluntarily agrees not to seek any claim, compensation, damages or any other consideration whatsoever on any ground in this regard.
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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.
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Related to Termination of License Agreement by Maha-Metro

  • Termination of License 3.2.1 The Bank shall have, in the event of the Customer’s breach of or default under this Agreement and/ or the Bank being of the view that the Customer is not co-operating and/or complying with the terms and conditions of this Agreement, a right to terminate this Agreement and the license granted hereunder, after issuing to the Customer a prior written notice of not less than 3 (three) months by registered post or speed post (and also by (i) email where email id of the Customer is available; and (ii) SMS and/or WhatsApp where the mobile phone number of the Customer is available) (“Termination Notice”). 3.2.2 Upon receipt of the Termination Notice, the Licensor shall forthwith and before the end of the notice period stipulated under the Termination Notice surrender and vacate the Locker and handover the keys, password or any other identification mechanism and documents provided by the Bank for opening of the Locker, to the Bank.

  • Termination of Licenses Subject to Clause 22.5 (Licence granted by the Supplier: Supplier Background IPR), all licences granted pursuant to Clause 22 (Intellectual Property Rights) (other than those granted pursuant to Clause 22.14 (Third Party IPR) and 22.15 (Licence granted by the Customer)) shall survive the Contract Expiry Date. The Supplier shall, if requested by the Customer as a result of a contract termination in accordance with Clause 30, grant (or procure the grant) to the Replacement Supplier of a licence to use any Supplier Background IPR and/or Third Party IPR on terms equivalent to those set out in Clause 22.5 (Licence granted by the Supplier: Supplier Background IPR) subject to the Replacement Supplier entering into reasonable confidentiality undertakings with the Supplier. The licence granted pursuant to Clause 22.15 (Licence granted by the Customer ) and any sub-licence granted by the Supplier in accordance with Clause 22.15 (Licence granted by the Customer) shall terminate automatically on the Contract Expiry Date and the Supplier shall: immediately cease all use of the Customer Background IPR and the Customer Data (as the case may be); at the discretion of the Customer, return or destroy documents and other tangible materials that contain any of the Customer Background IPR and the Customer Data, provided that if the Customer has not made an election within six months of the termination of the licence, the Supplier may destroy the documents and other tangible materials that contain any of the Customer Background IPR and the Customer Data (as the case may be); and ensure, so far as reasonably practicable, that any Customer Background IPR and Customer Data that are held in electronic, digital or other machine-readable form ceases to be readily accessible from any computer, word processor, voicemail system or any other device of the Supplier containing such Customer Background IPR and/or Customer Data. The Supplier shall, during and after the Contract Period, on written demand, indemnify the Customer against all Losses incurred by, awarded against, or agreed to be paid by the Customer (whether before or after the making of the demand pursuant to the indemnity hereunder) arising from an IPR Claim. If an IPR Claim is made, or the Supplier anticipates that an IPR Claim might be made, the Supplier may, at its own expense and sole option, either: procure for the Customer the right to continue using the relevant item which is subject to the IPR Claim; or replace or modify the relevant item with non-infringing substitutes provided that: the performance and functionality of the replaced or modified item is at least equivalent to the performance and functionality of the original item; the replaced or modified item does not have an adverse effect on any other Goods and/or Services; there is no additional cost to the Customer; and the terms and conditions of this Contract shall apply to the replaced or modified Goods and/or Services. If the Supplier elects to procure a licence in accordance with Clause 22.20a) or to modify or replace an item pursuant to Clause 22.20b), but this has not avoided or resolved the IPR Claim, then: the Customer may terminate this Contract by written notice with immediate effect; and without prejudice to the indemnity set out in Clause 22.19, the Supplier shall be liable for all reasonable and unavoidable costs of the substitute goods and/or services including the additional costs of procuring, implementing and maintaining the substitute items.

  • Termination of Existing Agreements Any previous employment agreement between Executive on the one hand and Employer or any of Employer’s Affiliates (as hereinafter defined) on the other hand is hereby terminated.