Failure of Allottee to take Possession of Dwelling Unit Sample Clauses

The 'Failure of Allottee to take Possession of Dwelling Unit' clause outlines the consequences and procedures that apply when a buyer (allottee) does not take possession of their allotted property within a specified timeframe after being notified by the seller or developer. Typically, this clause details any charges, liabilities, or forfeiture of rights that may arise if the allottee fails to take possession, such as maintenance fees accruing from the date possession was offered or the risk of cancellation. Its core function is to ensure timely handover and occupancy of the property, thereby protecting the interests of the developer and maintaining the project's operational and financial schedule.
Failure of Allottee to take Possession of Dwelling Unit. Upon receiving a written intimation from the CGEWHO as per clause 7.2, the Allottee shall take possession of the Dwelling Unit from the CGEWHO by executing necessary indemnities, undertakings (Annexure-I, II & III as per format attached) and such other documentation as prescribed in this Agreement, and after executing the conveyance deed the CGEWHO shall give possession of the Dwelling Unit to the allottee. In case the Allottee fails to take possession within the time provided in clause 7.2, such Allottee shall continue to be liable to pay the CGEWHO holding charges at the rate of Rs.2/- per month per sq.ft. of carpet area for the period beyond3 months till actual date of possession in addition to maintenance charges as specified in para 7.2.
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Failure of Allottee to take Possession of Dwelling Unit. Upon receiving a written intimation from the CGEWHO as per clause 7.2, the Allottee shall take possession of the Dwelling Unit from the CGEWHO by executing necessary indemnities, undertakings (Annexure-I, II & III as per format attached) and such other documentation as prescribed in this Agreement, and after executing the conveyance deed the CGEWHO shall give possession of the Dwelling Unit to the allottee. In case the Allottee fails to take possession within the time provided in clause 7.2, such Allottee shall continue to be liable to pay maintenance charges as applicable.
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Related to Failure of Allottee to take Possession of Dwelling Unit

  • Failure of Allottee to take Possession of Apartment Upon receiving a written intimation from the Promoter as per para 7.2, the Allottee shall take possession of the Apartment from the Promoter by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Promoter shall give possession of the Apartment to the allottee. In case the Allottee fails to take possession within the time provided in para 7.2, such Allottee shall continue to be liable to pay maintenance charges as specified in para 7.2.

  • Failure of Allottee to take Possession of [Apartment/Plot] - Upon receiving a written intimation from the Promoter as per para 7.2, the Allottee shall take possession of the [Apartment/Plot] from the Promoter by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Promoter shall give possession of the [Apartment/Plot] to the allottee. In case the Allottee fails to take possession within the time provided in para 7.2, such Allottee shall continue to be liable to pay maintenance charges as specified in para 7.2.

  • RIGHT OF ALLOTTEE TO USE COMMON AREAS AND FACILITIES SUBJECT TO PAYMENT OF TOTAL MAINTENANCE CHARGES

  • CONDITIONS PRECEDENT TO PURCHASE OR SUBSTITUTION Any purchase or substitution of Loans pursuant to these Master Terms is subject to the following conditions precedent being satisfied (and SLM ECFC, by accepting payment, shall be deemed to have certified that all such conditions are satisfied on the date of such purchase): (A) Activities Prior to the Related Purchase Date SLM ECFC shall provide any assistance requested by Funding in determining that all required documentation on the related Loans is present and correct. (B) Continued Servicing Following the execution of each Purchase Agreement, SLM ECFC shall service, or cause to be serviced, all Loans subject to such Purchase Agreement as required under the Higher Education Act until the date of the related ▇▇▇▇ of Sale. (C) ▇▇▇▇ of Sale/Loan Transmittal Summary Form SLM ECFC shall deliver to Funding: (i) a ▇▇▇▇ of Sale that (a) has been duly authorized, executed and delivered, by an authorized officer of SLM ECFC, covering the applicable Loans offered by SLM ECFC, (b) has been accepted by Funding as set forth thereon, selling, assigning and conveying to the Interim Eligible Lender Trustee on behalf of Funding and its assignees all right, title and interest of SLM ECFC, including the insurance interest of SLM ECFC, in each of the related Loans, and (c) states that the representations and warranties made by SLM ECFC in Sections 5(A) and (B) of these Master Terms are true and correct on and as of the date of the ▇▇▇▇ of Sale; and (ii) the Loan Transmittal Summary Form, attached to the ▇▇▇▇ of Sale, identifying each of the Eligible Loans which is the subject of the ▇▇▇▇ of Sale and setting forth the unpaid Principal Balance of each such Loan.

  • No waiver of our rights (a) No failure on our part to exercise and no delay on our part in exercising any right or remedy under this agreement will operate as a waiver of such right or remedy, nor will any single or partial exercise of any right or remedy preclude any other or further exercise of such right or remedy or the exercise of any other right or remedy. (b) Any waiver by us of our rights or remedies in respect of any term of this agreement or any breach of this agreement on your part must be in writing and may be given subject to such terms and conditions as we may deem fit and is effective only in the instance and for the purpose for which it is given.