Common use of PROMOTER'S DEFAULT Clause in Contracts

PROMOTER'S DEFAULT. Subject to the Force Majeure, the Promoter shall be considered under a condition of default, in the following events, namely: - 9.1.1 The Promoter fails to provide ready to move in possession of the Unit to the Allottee(s) without any default on the part of the Allottee(s), within the time period specified in Clause 7.1 above in this Agreement. For the purpose of this clause, 'ready to move in possession' shall mean that the Unit shall be in a habitable condition which is complete in all respects including the provision of all Specifications as agreed to between the Parties and as specified in Schedule F and for which Occupation Certificate, has been issued by the competent authority; 9.1.2 Discontinuance of the Promoter's business as a developer on account of suspension or revocation or expiry of the registration of the Said Project under the provisions of the Act or the rules or regulations made thereunder.

PROMOTER'S DEFAULT. Subject to the Force Majeure, the Promoter shall be considered under a condition of default, in the following events, namely: - 9.1.1 The Promoter fails to provide ready to move in possession of the Unit to the Allottee(s) without any default on the part of the Allottee(s), within the time period specified in Clause Clause 7.1 above in this Agreement. For the purpose of this clause, 'ready to move in possession' shall mean that the Unit shall be in a habitable condition which is complete in all respects including the provision of all Specifications as agreed to between the Parties and as specified in Schedule F D and for which Occupation Certificate, has been issued by the competent authority; 9.1.2 Discontinuance 9.1. 2Discontinuance of the Promoter's business as a developer on account of suspension or revocation or expiry of the registration of the Said Project under the provisions of the Act or the rules or regulations made thereunder.