ADJUSTEMENT/ APPROPRIATION OF PAYMENTS Clause Samples
The Adjustment/Appropriation of Payments clause gives a party, typically the creditor, the right to determine how payments received from the debtor are allocated among various outstanding debts or obligations. In practice, if a debtor owes multiple amounts—such as principal, interest, or fees—the creditor can decide which specific debt a payment will be applied to, unless the debtor specifies otherwise. This clause ensures that payments are properly managed and helps prevent disputes over which obligations have been satisfied, thereby providing clarity and control over the settlement of multiple debts.
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ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. The Allottee authorized the Promoter to adjust/ appropriate all payments made by him/ her under any head of dues against lawfull outstanding of the Allottee against the Apartment, if any, in his/ her name and the Allottee undertakes not to object/ demand/ direct the Promoter to adjust his payments in any manner. It is irrevocably agreed by the Allottee herein that on all amounts received, the Promoter shall be entitled to first adjust/ appropriate any amounts paid firstly towards the taxes, charges, levies etc. due and payable on previous installments. Thereafter, towards the interest levied on the previous pending installment (if any) and, thereafter the pending installment the balance amounts shall be adjusted towards the taxes, charges, levies etc. due and payable on the current installment due and then on the current installment amount.
ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. The Allottee authorized the Developer to adjust/ appropriate all payments made by him/ her under any head of dues against lawful outstanding of the Allottee against the Apartment, if any, in his/ her name and the Allottee undertakes not to object/ demand/ direct the Developer to adjust his payments in any manner.
ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. The Allottee authorized the Promoter to adjust/ appropriate all payments made by him/ her under any head(s) of dues against lawful outstanding of the Allottee against the [Apartment/Plot], if any, in his/ her name and the Allottee undertakes not to object/ demand/ direct the Promoter to adjust his payments in any manner.
ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. The Purchaser/Allottee authorizes the Vendor to adjust/ appropriate all payments made by him/ her under any head(s) of dues against lawful outstanding of the Purchaser/Allottee against the Unit/Apartment, if any, in his/ her name and the Purchaser/Allottee undertakes not to object/ demand/ direct the Vendor to adjust his payments in any manner.
ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. The Allottee authorized the Vendor/Developer to adjust/ appropriate all payments made by him/ her under any head(s) of dues against lawful outstanding of the Allottee against the [Apartment/Unit], if any, in his/ her name and the Allottee undertakes not to object/ demand/ direct the Vendor/Developer to adjust his payments in any manner.
ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. The Purchaser/Allottee(s) authorized the Developer/Promoter to adjust/ appropriate all payments made by him/her/them under any head(s) of dues against lawful outstanding of the Purchaser/ Allottee(s) against the said Apartment, if any, in his/her/their name and the Purchaser/ Allottee(s) undertakes not to object/demand/direct the Purchaser/ Allottee(s) to adjust his payments in any manner.
ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. The Purchaser authorized the Developer to adjust/ appropriate all payments made by him/ her under any head(s) of dues against lawful outstanding of the Purchaser against the Apartment, if any, in his/ her name and the Purchaser undertakes not to object/ demand/ direct the Developer to adjust his payments in any manner.
ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. 4.1 The Allottee(s) hereby authorizes the Promoter to adjust/ appropriate all payments made by him/ her under any head of dues against lawful outstanding of the Allottee(s) against the Unit, if any, in his/ her name and the Allottee(s) undertakes not to object/ demand/ direct the Promoter to adjust his payments in any manner. 5 TIME IS ESSENCE:
5.1 The Promoter shall abide by the time schedule for completing the Said Project as disclosed at the time of registration of the Said Project with the Authority and towards handing over the Unit to the Allottee(s).
ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. The Purchaser authorized the Concrete India to adjust/ appropriate all payments made by him/ her under any head(s) of dues against lawful outstanding of the Purchaser against the Apartment, if any, in his/ her name and the Purchaser undertakes not to object/ demand/ direct the Concrete India to adjust his payments in any manner.
ADJUSTEMENT/ APPROPRIATION OF PAYMENTS. The Board shall have the right to adjust/ appropriate the installment amount received from the Allottee(s) first towards the interest and other sum, if any, due from the allottee(s) and the balance, if any, towards the Total consideration.