NOMINATION BY ALLOTTEE WITH CONSENT Sample Clauses

The 'Nomination by Allottee with Consent' clause allows an allottee (such as a property buyer or shareholder) to nominate another person to receive their rights or interests, provided that the nomination is made with the necessary consent, often from the developer, company, or relevant authority. In practice, this means that if an allottee wishes to transfer their stake or entitlement—such as an apartment unit or shares—they must first obtain approval from the party specified in the agreement before the nomination is effective. This clause ensures that any transfer of rights is controlled and transparent, preventing unauthorized or undesirable parties from acquiring interests without oversight.
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that before execution and registration of Conveyance deed of the Said Apartment And Appurtenances, the Allottee shall be entitled to nominate, assign and/or sell the Allottee‟s right, title, interest and obligations under this Agreement on payment of 5% (Five percent) of the market price in respect of the Said Apartment and Said Parking Space (if any) and appurtenances as may be prevailing at that time (to be determined by the Promoter) plus the amount of applicable taxes as nomination charge to the Promoter subject to the covenant by the nominee that the nominee shall strictly adhere to the terms of this Agreement and shall obtain prior written permission of the Promoter and that the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Promoter and the additional stamp duty and additional registration expenses, if any shall be borne by the Allotee and/or the Allottee‟s nominee.
View SourceView Similar (3)
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that after the Lock in period and before the execution and registration of conveyance deed of the said Apartment, the Allottee will be entitled to nominate, assign and/or transfer the Allottee’s right, title, interest and obligations under this Agreement subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:
View SourceView Similar (65)
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that before execution and registration of Conveyance deed of the Said Apartment And Appurtenances, the Allottee shall be entitled to nominate, assign and/or Transfer the Allottee’s right, title, interest and obligations under this Agreement on payment of 5% (five percent) of the market price in respect of the said apartment and appurtenances as may be prevailing at that time (to be determined by the Promoter) plus the amount of applicable taxes as nomination charge to the Promoter subject to the covenant by the nominee that the nominee shall strictly adhere to the terms of this Agreement and shall obtain prior written permission of the Promoter and that the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Promoter.
View SourceView Similar (13)
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that before the execution and registration of conveyance deed of the Apartment, the Allottee will be entitled to nominate, assign and/or transfer the Allottee‟s right, title, interest and obligations under this Agreement only with the written consent of the Promoter (which consent the Promoter may refuse to grant without assigning any reason whatsoever) on payment of Rs. 100/- (Rupees One hundred only) per square feet on super built up area plus GST as Nomination Charge to the Promoter or such other fee / charge as may be decided and/or made applicable from time to time by the Promoter in its absolute discretion for such transfer subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions: i. The Allottee shall make payment of all dues in terms of this Agreement, up to the time of nomination and the Promoter shall consent to such nomination transfer or alienation only upon being paid the fee / charge as aforesaid; ii. The Allottee cannot sell and/or nominate the Apartment to and in favour of any third person before the expiry of a period of 12 (twelve) months from the date of this Agreement (“Lock-in Period”). iii. The Allottee shall have previously informed the Promoter in writing of the full particulars of such nominee / transferee; iv. The Allottee shall obtain prior written permission of the Promoter and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Owners and the Promoter. v. Any such nomination assignment transfer or alienation shall be subject to the terms conditions agreements and covenants contained hereunder and on the part of the Buyer to be observed fulfilled and performed; vi. It is clarified that any change in the control or ownership of the Allottee (if being a Company or a partnership or an LLP) shall come within the purview of such nomination / assignment / transfer and be subject to the above conditions. vii. The Allottee admits and accepts that the Allottee shall not nominate or assign the rights under this Agreement save in the manner indicated above. It is clarified that inclusion of a new joint Allottee or change of a joint Allottee shall be treated as a transfer unless such joint Allottee is a mother or father or spouse or child of the original Allottee. Any nomination/transfer/made in contravention/ violation of conditions mentioned herein, shall be void ab-initio.
View SourceView Similar (12)
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that after the lock in period as mentioned in Clause 43
View SourceView Similar (4)
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that after the Lock in period and before the execution and registration of conveyance deed of the said Apartment, the Allottee will be entitled to nominate, assign and/or transfer the Allottee’s right, title, interest and obligations under this Agreement subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions: (a) Allottee to Make Due Payments:-The Allottee shall make payment of all dues, including any interest for delay, to the Promoters in terms of this Agreement, up to the time of nomination. (b) Lock-in Period:-The Allottee cannot nominate in favour of any third party before the expiry of a period of 12 (Twelve) months from the date of this Agreement. (c) Prior Written Permission and Tripartite Agreement: -In respect of any nomination, the Allottee shall obtain prior permission of the Developer and the Allottee and the nominee shall be bound to enter into a tripartite agreement with the Developer and the Allottee.
View SourceView Similar (3)
NOMINATION BY ALLOTTEE WITH CONSENT. 40.1 The Allottee admits and accepts that after the Lock in period (mentioned herein below) and before the execution and registration of conveyance deed of the said UNIT, the Allottee will be entitled to nominate, assign and/or transfer the Allottee’s right, title, interest and obligations under this Agreement subject to the covenant by the nominee that the nominee will strictly adhere to the terms of this Agreement and subject also to the following conditions:
View SourceView Similar (2)
NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that before execution and registration of sale deed of the Said Apartment And Appurtenances but only after expiry of a period of 24 (Twenty Forty) months from the date of this agreement, the Allottee shall be entitled to nominate, assign and/or transfer the Allottee‟s right, title, interest and obligations under this Agreement on payment of Rs. (Rupees Only) per sq. ft. of the aggregate Super Built Up Area as nomination charge to the Vendor subject to the covenant by the nominee that the nominee shall strictly adhere to the terms of this Agreement and subject also to the following conditions:
View SourceView Similar (2)

Related to NOMINATION BY ALLOTTEE WITH CONSENT

  • Cancellation by Allottee The Allottee shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the allottee proposes to cancel/withdraw from the project without any fault of the promoter, the promoter herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the allottee shall be returned by the promoter to the allottee within 45 days of such cancellation.

  • Action by Members Without a Meeting Action required or permitted to be taken at a meeting of Members may be taken without a meeting if the action is evidenced by one or more written consents describing the action taken, signed by all Members and delivered to the Secretary or any Assistant Secretary of the Company for inclusion in the minutes or for filing with the Company records. Action taken under this Section is effective when all Members have signed the consent, unless the consent specifies a different effective date.

  • Shareholder Action by Written Consent without a Meeting Any action which may be taken at any meeting of Shareholders may be taken without a meeting and without prior notice if a consent in writing setting forth the action so taken is signed by the holders of Shares having not less than the minimum number of votes that would be necessary to authorize or take that action at a meeting at which all Shares entitled to vote on that action were present and voted. All such consents shall be filed with the secretary of the Trust and shall be maintained in the Trust’s records. Any Shareholder giving a written consent or the Shareholder’s proxy holders or a transferee of the Shares or a personal representative of the Shareholder or its respective proxy-holder may revoke the consent by a writing received by the secretary of the Trust before written consents of the number of Shares required to authorize the proposed action have been filed with the secretary. If the consents of all Shareholders entitled to vote have not been solicited in writing and if the unanimous written consent of all such Shareholders shall not have been received, the secretary shall give prompt notice of the action taken without a meeting to such Shareholders. This notice shall be given in the manner specified in the By-Laws.

  • Trustee Action by Written Consent Without a Meeting To the extent not inconsistent with the provisions of the 1940 Act, any action that may be taken at any meeting of the Board of Trustees or any committee thereof may be taken without a meeting and without prior written notice if a consent or consents in writing setting forth the action so taken is signed by the Trustees having not less than the minimum number of votes that would be necessary to authorize or take that action at a meeting at which all Trustees on the Board of Trustees or any committee thereof, as the case may be, were present and voted. Written consents of the Trustees may be executed in one or more counterparts. A consent transmitted by electronic transmission (as defined in Section 3806 of the DSTA) by a Trustee shall be deemed to be written and signed for purposes of this Section. All such consents shall be filed with the secretary of the Trust and shall be maintained in the Trust’s records.

  • Shareholder Action by Written Consent Any action which may be taken by Shareholders by vote may be taken without a meeting if the holders entitled to vote thereon of the proportion of Shares required for approval of such action at a meeting of Shareholders pursuant to Section 10.4 consent to the action in writing and the written consents are filed with the records of the meetings of Shareholders. Such consent shall be treated for all purposes as a vote taken at a meeting of Shareholders.