Documentation for Loan. The Developer shall provide to the Buyers all available documents so that the Buyers may get loan from banks and financial institutions. For the purpose of facilitating the payment of the consideration, the Buyers shall be entitled to apply for and obtain financial assistance from recognized banks and/or financial institutions. In the event of the Buyers obtaining any financial assistance and/or housing loan from any bank and/or financial institution, the Developer shall be entitled and are hereby authorized by the Buyers to act in accordance with the instructions of the bank and/or financial institution in terms of the agreement between the Buyers and the Bank and/or financial institution, subject to the Developer being assured of all amounts being receivable for sale and transfer of the said Apartment and in no event the Developer shall assume any liability and/or responsibility for any loan and/or financial assistance which may be obtained by the Buyer/s from such bank and/or financial institution. Further, in case the Buyers desire to transfer the said Apartment and Appurtenance, then the Buyers shall at its own costs be obliged to bring / obtain the requisite NOC from the concerned financing Bank / Financial Institution / Lender.
Appears in 2 contracts
Sources: Partnership Agreement, Partnership Agreement