Nomination Fees. In case the Buyer shall require a Conveyance to be made and executed in favour of the nominee (subject to written prior approval by the Owner/Developer who will be entitled to refuse to such transfer/nominations without stating any reason thereof), then the Buyer shall be bound to pay to the Owner/Developer, the higher of the amount i.e. 10% of the selling price, at that point and applicable GST in each case of further nomination if made before the deed of Conveyance is executed and registered, then similar fee shall be required to be payable in case of each such nomination. However, under no circumstances, the Buyer shall transfer his’s/her’s/its’s rights within a period of two years from the date of agreement. This Clause will not be applicable in internal family/company transfer i.e. nomination charges will not be payable in this circumstances.
Appears in 1 contract
Sources: Sale Agreement
Nomination Fees. In case the Buyer shall require a Conveyance to be made and executed in favour of the nominee (subject to written prior approval by the Owner/Developer who will be entitled to refuse to such transfer/nominations without stating any reason thereof), then the Buyer shall be bound to pay to the Owner/Developer, the higher of the amount i.e. 10% of the selling price, at that point and applicable GST in each case of further nomination if made before the deed of Conveyance is executed and registered, then similar fee shall be required to be payable in case of each such nomination. However, under no circumstances, the Buyer shall transfer his’shis‘s/her’sher‘s/its’s its‘s rights within a period of two years from the date of agreement. This Clause will not be applicable in internal family/company transfer i.e. nomination charges will not be payable in this circumstances.
Appears in 1 contract
Sources: Sale Agreement