Common use of NOMINATION BY ALLOTTEE WITH CONSENT Clause in Contracts

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.

NOMINATION BY ALLOTTEE WITH CONSENT. The Allottee admits and accepts that may only after a period of months from the date of execution of this agreement and/or before execution and registration of Conveyance deed of the Said Apartment And Appurtenances, the Allottee shall be entitled to nominate, nominate or assign and/or sell the Allottee‟s Allottee’s right, title, interest and obligations under this Agreement on payment of 5% (Five five percent) of the market 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 Allottee’s nominee.