Common use of POSSESSION AND CONVEYANCE Clause in Contracts

POSSESSION AND CONVEYANCE. 7.1 Upon making the said Unit tenantable and habitable the DEVELOPER shall give a notice thereof in writing to the Purchasers whom within thirty days of possession notice :- (a) may take inspection of the said Unit in presence of the DEVELOPER or its representative or Architect ; (b) may point out any quality related issued, if any, required to be rectified by the DEVELOPER and which if required would be rectified by the DEVELOPER but which shall not withhold the performance of the other obligations of the Purchasers hereunder; (c) shall pay the entire balance consideration and all other amounts and deposits payable by the Purchasers to the DEVELOPER for sale of the said Unit including interest on delayed payments, if any; (d) fulfill all his other covenants hereunder and complete the purchase of the said Unit ; (e) take possession of the said Unit. If no inspection is taken within the said period, it shall be deemed that such right is waived. 7.2 It is expressly agreed understood and clarified that the Developer shall not handover the possession of the said Unit to the purchasers nor shall execute any conveyance or other instruments until such time the purchasers make payment of all amounts agreed including interest on delayed payments required to be paid hereunder by the Purchasers and the purchasers have fully performed all the terms and conditions and covenants of this agreement and on the part of the Purchasers to be observed and performed until then.

POSSESSION AND CONVEYANCE. 7.1 Upon making the said Unit tenantable and habitable upon obtaining the Occupancy Certificate, the DEVELOPER shall give a notice thereof in writing to the Purchasers whom within thirty fifteen days of possession notice its service :- (a) may take inspection of the said Unit in presence of the DEVELOPER or its representative or Architect ; (b) may point out any quality related issued, if any, required to be rectified by the DEVELOPER and which if required would be rectified by the DEVELOPER but which shall not withhold the performance of the other obligations of the Purchasers hereunder; (c) shall pay the entire balance consideration and all other amounts and deposits payable by the Purchasers to the DEVELOPER for sale of the said Unit including interest on delayed payments, if anyUnit; (d) fulfill all his other covenants hereunder and complete the purchase of the said Unit ; (e) take possession of the said Unit. If no inspection is taken within the said period, it shall be deemed that such right is waived. 7.2 It is expressly agreed understood and clarified that the Developer shall not handover the possession of the said Unit to the purchasers nor shall execute any conveyance or other instruments until such time the purchasers make payment of all amounts agreed including interest on delayed payments and required to be paid hereunder by the Purchasers and the purchasers have fully performed all the terms and conditions and covenants of this agreement and on the part of the Purchasers to be observed and performed until then.