Common use of Payment of Total Price Clause in Contracts

Payment of Total Price. The Total Price shall be paid by the Buyer in installments mentioned in Part II of the 6th Schedule below, time being the essence of contract. The Buyer agrees and covenants not to claim any right or possession over and in respect of the Said Flat And Appurtenances till such time the Buyer has paid the entirety of the Total Price and the Extras and all other amounts agreed to be paid or deposited under this Agreement. All payments made by negotiable instruments, shall be made payable at Kolkata favouring the Vendor or such name as may be notified by the Vendor. This Agreement shall be deemed to be a notice for payment (Payment Notice) of the Total Price and no separate notice is required to be given to the Buyer for payments due from time to time. Extras, as applicable, shall be paid to the Vendor by the Buyer as and when demanded by the Vendor from the Buyer.