Common use of POSSESSION OF THE PLOT Clause in Contracts

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the Allottee(s), is the essence of the Agreement, subject to the Allottee complying with its obligations. The Promoter assures to hand over possession of the Plot as per agreed terms and conditions unless there is delay due to “force majeure”, Court orders, Government policy/ guidelines, decisions affecting the regular development of the Project. If, the completion of the Project is delayed due to the above conditions, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot. For the purpose of this Agreement, ‘force majeure’ circumstances shall include, without limitation, the following: (a) fires, explosions, earthquakes, droughts, famines, cyclones, hurricanes, storms, tempests, floods or any natural disasters or acts of god; (b) wars, acts of public enemy, acts of terrorism, sabotage, revolutions, rebellions, invasions, riots, civil commotions or civil unrests; (c) boycotts, sanctions, or embargoes; (d) contamination by toxic or dangerous chemicals or radioactive contamination; (e) change in any applicable laws; and (f) diseases or other health epidemic. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Project due to above mentioned “force majeure” conditions, then this Agreement shall stand terminated and the Promoter shall refund to the Allottee, the entire amount received by the Promoter from the Allottee within 90 (ninety) days. The Promoter shall intimate the Allottee about such termination at least 30 (thirty) days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE PLOT. 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the Allottee(s), is the essence of the Agreement, subject to the Allottee complying with its obligations. The Promoter assures to hand over physical possession of the Plot as per agreed terms and conditions unless there is delay due to “force majeure”, Court orders, Government policy/ guidelines, decisions affecting the regular development of the Project. If, If the completion of the Project is delayed due to the above conditions, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Plot. For the purpose of this Agreement, ‘force majeure’ circumstances shall include, without limitation, the following: (a) fires, explosions, earthquakes, droughts, famines, cyclones, hurricanes, storms, tempests, floods or any natural disasters or acts of god; (b) wars, acts of public enemy, acts of terrorism, sabotage, revolutions, rebellions, invasions, riots, civil commotions or civil unrests; (c) boycotts, sanctions, or embargoes; (d) contamination by toxic or dangerous chemicals or radioactive contamination; (e) change in any applicable laws; and (f) diseases or other health epidemic. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the Project due to above mentioned “force majeure” conditions, then this Agreement shall stand terminated and the Promoter shall refund to the Allottee, the entire amount received by the Promoter from the Allottee within 90 (ninety) daysdays of such termination, without any interest. The Promoter shall intimate the Allottee about such termination at least 30 (thirty) days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.