Common use of Release of Security Deposit Clause in Contracts

Release of Security Deposit. a. The Security Deposit amounting to Rs. ……………./- (Rupees Lakhs) submitted in the form of shall remain in force and effect for the entire License period. This Security Deposit shall be released upon Completion of entire License period plus six months and/or the termination (payable only in the event of non-Licensee default) date whichever is earlier. The Security Deposit shall be released subject to Maha-Metro’s right to receive or recover amounts if any due from Licensee under this Agreement. No interest shall be paid on the Security Deposit.

Release of Security Deposit. a. 13.3.1. The Security Deposit amounting to which is a sum total of Rs. ……………./- (Rupees Lakhs) submitted in the form of ………………. and Rs. shall remain in force and effect for the entire License period. This Security Deposit shall be released upon Completion of entire License period plus six months and/or the termination (payable only in the event of non-Licensee default) date whichever is earlier. The Security Deposit shall be released subject to Maha-MetroAuthority’s right to receive or recover amounts if any due from Licensee under this Agreement. No interest shall be paid on the Security Deposit.

Release of Security Deposit. a. 11.3.1. The Security Deposit amounting to which is a sum total of Rs. ……………./- (Rupees Lakhs) submitted in the form of ………………. and Rs. shall remain in force and effect for the entire License period. This Security Deposit shall be released upon Completion of entire License period plus six months and/or the termination (payable only in the event of non-Licensee default) date whichever is earlier. The Security Deposit shall be released subject to Maha-Maha- Metro’s right to receive or recover amounts if any due from Licensee under this Agreement. No interest shall be paid on the Security Deposit.

Release of Security Deposit. a. 12.3.1. The Security Deposit amounting to which is a sum total of Rs. ……………./- (Rupees Lakhs) submitted in the form of ………………. and Rs. shall remain in force and effect for the entire License period. This Security Deposit shall be released upon Completion of entire License period plus six months and/or the termination (payable only in the event of non-Licensee default) date whichever is earlier. The Security Deposit shall be released subject to Maha-Maha- Metro’s right to receive or recover amounts if any due from Licensee under this Agreement. No interest shall be paid on the Security Deposit.

Release of Security Deposit. a. 13.3.1. The Security Deposit amounting to Rs. ……………./- (Rupees Lakhs) submitted in the form of shall remain in force and effect for the entire License period. This Security Deposit shall be released upon Completion of entire License period plus six months and/or the termination (payable only in the event of non-Licensee default) date whichever is earlier. The Security Deposit shall be released subject to Maha-Metro’s right to receive or recover amounts if any due from Licensee under this Agreement. No interest shall be paid on the Security Deposit.

Release of Security Deposit. a. The Security Deposit amounting to Rs. ……………./- (Rupees Lakhs) submitted in the form of shall remain in force and effect for the entire License period. This Security Deposit shall be released upon Completion of entire License period plus six months and/or the termination (payable only in the event of non-non- Licensee default) date whichever is earlier. The Security Deposit shall be released subject to Maha-Metro’s right to receive or recover amounts if any due from Licensee under this Agreement. No interest shall be paid on the Security Deposit.