Surrender of License Agreement. 15.1.1. No partial surrender of licensed space or part of the licensed space which has been handed over to the Licensee by Maha-Metro shall be permissible during the tenure of the License Agreement.
Surrender of License Agreement. 7.1 If the Licensee is desirous to exit & surrender the license hereby created before expiry of the lock- in period of two (2) years, the License Agreement shall deemed to be foreclosed on the date mentioned in surrender notice, subject to confirmation by DMRC. In such a case, the balance Interest Free Security Deposit/ Performance Security shall be forfeited in favour of DMRC after adjustment of outstanding dues, if any, payable to DMRC. No grace period shall be provided to licensee in such a case. DMRC may also recover the balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security, from the other contracts of licensee in DMRC. Balance outstanding dues, if are more than Interest Free Security Deposit/ Performance Security, shall be also recoverable from the licensee before licensee is permitted to remove their establishment(s) or else DMRC will seize their property at Zero/Nil Value. DMRC shall be free to dispose-off the said property/ goods in whatsoever manner as it deems fit. Licensee shall have no claim for compensation or consideration/ damages in this regard.
