REPRESENTATIONS AND WARRANTIES OF THE PURCHASER/ ALLOTTEE. The Purchaser/ Allottee hereby represent and warrants to the developer and the Owners as follows: a) The execution and delivery of this agreement and the performance of his/ her/ its obligations hereunder shall not (i) conflict with or result in a breach of the terms of any other contract or commitment to which he/she/it is a party or by which he/she/it is bound; (ii) violate its memorandum of association, articles of association or bye laws or any other equivalent organizational documents (if applicable) ,(iii) conflict with or require any consent or approval under any judgment, order, writ, decree, permit or license to which he/she/it is bound or (iv) require the consent or approval of any other party to any contract, instrument or commitment to which he/she/it is a party or by which he/she/it is bound. b) There are no actions, suits or proceedings existing, pending or to his/its knowledge, threatened against or affecting him/her/it before any court, arbitrator or governmental authority or administrative body or agency that affect the validity or enforceability of this Agreement or that would affect his/her/its ability to perform his/her/its obligations with his/her/its obligations under or in connection with this agreement. c) That he/she/it enters into this agreement out of his/her/its own free will and without any coercion and after reviewing and understanding a draft of this agreement and agrees that the obligations under this agreement are valid and legal and binding on him/her/it in accordance with the terms hereof. d) His/her/its entry into this agreement, and the exercise of his/her/its rights and performance of the compliance with his/her/its obligations under or in connection with this agreement or any other documents entered into under or in connection with this agreement, will constitute private and commercial acts done and performed for private and commercial purpose. e) The Purchaser/Allottee has the financial and other resources, to meet and comply with all his/her/its obligations under this agreement, punctually and in a timely manner and that the Purchaser/Allottee, has not used and shall not use” proceeds of crime” as defined in prevention of money laundering Act 2002, for making any payments hereunder. f) The Purchaser/Allottee shall observe, perform and fulfill the covenants, situations, restrictions and obligations required to be performed by the Purchaser/Allottee hereunder. Plants or trees should not be destroyed in landscaped area. The landscaped areas shall always be maintained as open areas. g) The Purchaser/▇▇▇▇▇▇▇▇ agrees and undertakes that the Developer shall not be responsible in any manner whatsoever in case of any attachment or other proceedings that may be made or taken in respect of the said Unit/Flat/ Apartment and/or car parking space by concerned authorities due to nonpayment by the Purchaser/Allottee of any taxes/ outgoings etc. payable to the concerned authorities. h) The Purchaser/▇▇▇▇▇▇▇▇ accepts the architect’s certificate of covered space, and other layouts are final and will not raise any issue as such. i) Purchaser/Allottee is satisfied with the flat layout, toilet, kitchen and other layout and will not complain regarding design etc. j) Drainage and other plans prepared by consultants appointed by the developer are acceptable to the Purchaser/Allottee and the Purchaser/Allottee will not raise any issues regarding the same. k) The Purchaser/ ▇▇▇▇▇▇▇▇ has perused himself/herself/ itself about all the rules, regulations, and restrictions governing the complex and its common purpose and undertakes and declares that he/she/it is acquiring the said Unit/Flat based on the various covenants, rules, regulations, and restrictions contained is this agreement. l) The Purchaser/ Allottee/ s is aware of the applicability of Tax deduction at source (TDS) with respect of the said Unit/Flat. Further, the purchaser/Allottee/s is aware that the Purchaser/Allottee/s has to deduct the applicable TDS at the time of making of actual payment or credit of such sum to the account of developer, whichever is earlier as per sec 194-IA in the Income Tax Act 1961. Further the Purchaser/Allottee/s shall submit the original TDS certificate within the prescribed timelines mentioned in the Income Tax Act 1961.
Appears in 1 contract
Sources: Sale Agreement
REPRESENTATIONS AND WARRANTIES OF THE PURCHASER/ ALLOTTEE. The Purchaser/ Allottee hereby represent and warrants to the developer and the Owners as follows:
a) The execution and delivery of this agreement and the performance of his/ her/ its obligations hereunder shall not (i) conflict with or result in a breach of the terms of any other contract or commitment to which he/she/it is a party or by which he/she/it is bound; (ii) violate its memorandum of association, articles of association or bye laws or any other equivalent organizational documents (if applicable) ,(iii) conflict with or require any consent or approval under any judgment, order, writ, decree, permit or license to which he/she/it is bound or (iv) require the consent or approval of any other party to any contract, instrument or commitment to which he/she/it is a party or by which he/she/it is bound.
b) There are no actions, suits or proceedings existing, pending or to his/its knowledge, threatened against or affecting him/her/it before any court, arbitrator or governmental authority or administrative body or agency that affect the validity or enforceability of this Agreement or that would affect his/her/its ability to perform his/her/its obligations with his/her/its obligations under or in connection with this agreement.
c) That he/she/it enters into this agreement out of his/her/its own free will and without any coercion and after reviewing and understanding a draft of this agreement and agrees that the obligations under this agreement are valid and legal and binding on him/her/it in accordance with the terms hereof.
d) His/her/its entry into this agreement, and the exercise of his/her/its rights and performance of the compliance with his/her/its obligations under or in connection with this agreement or any other documents entered into under or in connection with this agreement, will constitute private and commercial acts done and performed for private and commercial purpose.
e) The Purchaser/Allottee has the financial and other resources, ,to meet and comply with all his/her/its obligations under this agreement, punctually and in a timely manner and that the Purchaser/Allottee, has not used and shall not use” proceeds use”proceeds of crime” as defined in prevention of money laundering Act 2002, for making any payments hereunder.
f) The Purchaser/Allottee shall observe, perform and fulfill the covenants, situationssitulations, restrictions and obligations required to be performed by the Purchaser/Allottee hereunder. Plants or trees should not be destroyed in landscaped area. The landscaped areas shall always be maintained as open areas.
g) The Purchaser/▇▇▇▇▇▇▇▇ agrees and undertakes that the Developer shall not be responsible in any manner whatsoever in case of any attachment or other proceedings procedings that may be made or taken in respect of the said Unit/Flat/ Apartment and/or car parking space by concerned authorities due to nonpayment non payment by the Purchaser/Allottee Alloottee of any taxes/ outgoings etc. payable to the concerned authorities.
h) The Purchaser/▇▇▇▇▇▇▇▇ accepts the architect’s certificate of covered space, and other layouts are final and will not raise any issue as such.
i) Purchaser/Allottee is satisfied with the flat layout, toilet, toilet ,kitchen and other layout lay-out and will not complain regarding design etc.
j) Drainage and other plans prepared by consultants appointed by the developer are acceptable to the Purchaser/Allottee and the Purchaser/Allottee will not raise any issues regarding the same.
k) The Purchaser/ ▇▇▇▇▇▇▇▇ has perused himself/herself/ itself about all the rules, regulations, regulations and restrictions governing the complex and its common purpose and undertakes undertake and declares that he/she/it is acquiring the said Unit/Flat based on the various covenants, rules, regulations, regulations and restrictions contained is this agreement.
l) The Purchaser/ Allottee/ s is aware of the applicability of Tax deduction at source siurce (TDS) with respect of the said Unit/Flat. Further, the purchaser/Allottee/s is aware that the Purchaser/Allottee/s has to deduct the applicable TDS at the time of making of actual payment or credit of such sum to the account of developer, whichever is earlier as per sec 194-IA in the Income Tax Act income tax act ,1961. Further the Purchaser/Allottee/s shall submit the original TDS certificate within the prescribed timelines mentioned in the Income Tax IncomeTax Act 1961.
Appears in 1 contract
Sources: Memorandum of Agreement for Sale