Licensed Space(s) definition
Examples of Licensed Space(s) in a sentence
Licensee shall be required to execute all works as required for the commercial use in the Licensed Space(s) without damaging any loads bearing / structural members and any services / utility etc.
The Licensee voluntarily gives Maha-Metro the right to seal the said Licensed Space(s) and remarket the same as part on its discretion upon Termination of this Agreement.
However, the licensee shall be allowed to use interior of the Licensed Spaces for display of advertisement only about the business / commodity being run / sold by the Licensee in the Licensed Space(s).
To have access to Licensed Space(s) during the License Period, develop, finance, commission, operate, manage and maintain the Licensed Space(s) during the License Period at the cost and risk of the Licensee.
Any development made by the Licensee on the Licensed Space(s) shall be deemed to be the property of Maha-Metro and all the rights of the Licensee in the Licensed Space(s) shall relinquish in the favour of Maha-Metro.
Any failure or delay by Maha-Metro to provide the Licensee possession of the Licensed Space(s), or to give the necessary permission or necessary drawings or instructions or any other delay caused by the Maha-Metro due to any other cause whatsoever, then such failure or delay shall in no way affect or vitiate the License Agreement or alter the character thereof or entitle the Licensee to any damages or compensation.
Transfer all its rights, titles and interest in or over the assets comprised in the Licensed Space(s) which are required to be transferred to CMRL/LICENSOR in accordance with this Agreement and execute such deeds and documents as may be necessary for the purpose and complete all legal or other formalities required in this regard.
Notwithstanding anything contained in this Agreement, CMRL/LICENSOR shall not, as a consequence of Termination or otherwise, have any obligation whatsoever including but not limited to obligations as to termination/compensation for loss of employment, continuance or regularization of employment, absorption or re- employment on any ground, in relation to any person in the employment of or engaged by the Licensee and/or Sub-Licensee in connection with the Licensed Space(s).
In order to establish who has checked in, cancelled, or delayed his or her check-in date and to ensure all residents have moved into their proper Licensed Spaces, no space changes will occur during the first two weeks of each semester.
Any form of assigning the right of the license or subletting the whole or part thereof the Licensed Space/s, will strictly not be permitted at any point during the currency of license tenure and violation of the same shall lead to the revoking of the license, with DMRC reserving the right to forfeit interest free security deposits and any or all payments made.