Common use of Time of handing over the Possession Clause in Contracts

Time of handing over the Possession. a) Subject to terms of this clause and subject to the Vendee having complied with all the terms and conditions of this Agreement and not being in default under any of the provisions of this Agreement and complied with all provisions, formalities, documentation etc., as prescribed by the Vendor/Developer, and all just exceptions, the Vendor/Developer based on its present plans and estimates shall endeavour to hand over the possession of the Unit within a period agreed upon in terms of Clause 7.1 (a) herein above. b) In addition to the circumstances set out in Clause 28, in the following circumstances, the date of possession shall get extended accordingly: i The completion of the said Aarohan Residences Phase - I including the Unit is delayed by reason of non-availability of steel and/ or cement or other building materials, or water supply or electric power or slow down, strike or, lock-out or civil commotion or by reason of war or enemy action or terrorist action or earthquake or any act of God or due to any Act, Notice, Order, Rule or Notification of the Government and/or any other Public or Competent Authority or due to delay in sanction of any revised building/ zoning plans or for any other reasons beyond the control of the Vendor/Developer, then the Vendee agrees that the Vendor/Developer shall be entitled to the extension of time for handing over of the possession of the said Unit. The Vendor/Developer as a result of such a contingency arising reserves the right to alter or vary the terms and conditions of this Agreement or if the circumstances are beyond the control of the Vendor/Developer so warrant, the Vendor/Developer may suspend the construction of Aarohan Residences Phase - I and this Agreement for such period as it may consider expedient and the Vendee agrees not to claim compensation of any nature whatsoever of this Agreement for the period of suspension/delay in the construction of Aarohan Residences Phase - I and this Agreement. ii If as a result of any law that may be passed by any legislature or Rule, Regulation or Order or notification that may be made and/or issued by the Government or any other Authority including a Municipal Authority or on account of delay in sanctioning of plans or any other sanctions or approval for development or issuance of occupation certificate by appropriate Authorities, the Vendor/Developer is not in a position to hand over the possession of the Unit, then the Vendor/Developer may, if so advised, though not bound to do so, at its sole discretion challenge the validity, applicability and/ or efficacy of such Legislation, Rule, Order or notification by moving the appropriate Courts, Tribunal(s) and/or Authority. In such a situation, the money(ies) paid by the Vendee in pursuance of this Agreement, shall continue to remain with the Vendor/Developer and the Vendee agrees not to move for or to obtain specific performance of the terms of this Agreement, it being specifically agreed that this Agreement shall remain in abeyance till final determination by the Court(s)/ Tribunal(s)/ Authority(ies). However, the Vendee may, if he/ she so desires, become a party along with the Vendor/Developer in such litigation to protect Vendee's rights arising under this Agreement. Further, in the event of the Vendor/Developer succeeding in its challenge to the impugned legislation or Rule, Regulation or Order, as the case may be, it is hereby agreed that this Agreement shall stand revived and the Vendee and the Vendor/Developer shall be liable to fulfil all obligations as provided in this Agreement. It is further agreed that in the event of the aforesaid challenge of the Vendor/Developer to the impugned Legislation/Order/Rule/ Regulation not succeeding and the said legislation/order/rule/regulation becoming final, absolute and binding, the Vendor/Developer will appoint a Receiver who shall have all the rights and authority to sell the entire property and disburse the sale proceeds among the Unit holders, for the amount attributable to the said Unit, after making payments of the statutory dues and secured creditors and after deducting interest on delayed payments, processing fee etc, and any other expenses attributable to the said Unit. The receiver will disburse the payments within a reasonable time in such manner as may be decided by the Receiver and the Vendee agrees to accept the Receiver's decision in this regard to be final and binding. Save as otherwise provided herein, the Vendee shall not have any other right or claim of whatsoever nature against the Vendor/Developer under or in relation to this Agreement.

Time of handing over the Possession. a) Subject to terms of this clause and subject to the Vendee having complied with all the terms and conditions of this Agreement and not being in default under any of the provisions of this Agreement and complied with all provisions, formalities, documentation etc., as prescribed by the Vendor/Developer, and all just exceptions, the Vendor/Developer based on its present plans and estimates shall endeavour endeavor to hand over the possession of the Unit within a period agreed upon in terms of Clause 7.1 (a) herein above. b) In addition to the circumstances set out in Clause 28, in the following circumstances, the date of possession shall get extended accordingly: i : (i) The completion of the said Aarohan Residences Phase - I Commercial Tower including the Unit is delayed by reason of non-availability of steel and/ or cement or other building materials, or water supply or electric power or slow down, strike or, lock-out or civil commotion or by reason of war or enemy action or terrorist action or earthquake or any act of God or due to any Act, Notice, Order, Rule or Notification of the Government and/or any other Public or Competent Authority or due to delay in sanction of any revised building/ zoning plans or for any other reasons beyond the control of the Vendor/Developer, then the Vendee agrees that the Vendor/Developer shall be entitled to the extension of time for handing over of the possession of the said Unit. The Vendor/Developer as a result of such a contingency arising reserves the right to alter or vary the terms and conditions of this Agreement or if the circumstances are beyond the control of the Vendor/Developer so warrant, the Vendor/Developer may suspend the construction of the Aarohan Residences Phase - I Commercial Tower and/or the Project and this Agreement for such period as it may consider expedient and the Vendee agrees not to claim compensation of any nature whatsoever of this Agreement for the period of suspension/delay in the construction of the Aarohan Residences Phase - I Commercial Tower and/or the Project and this Agreement. ii . (ii) If as a result of any law that may be passed by any legislature or Rule, Regulation or Order or notification that may be made and/or issued by the Government or any other Authority including a Municipal Authority or on account of delay in sanctioning of plans or any other sanctions or approval for development or issuance of occupation certificate by appropriate Authorities, the Vendor/Developer is not in a position to hand over the possession of the Unit, then the Vendor/Developer may, if so advised, though not bound to do so, at its sole discretion challenge the validity, applicability and/ or efficacy of such Legislation, Rule, Order or notification by moving the appropriate Courts, Tribunal(s) and/or Authority. In such a situation, the money(ies) paid by the Vendee in pursuance of this Agreement, shall continue to remain with the Vendor/Developer and the Vendee agrees not to move for or to obtain specific performance of the terms of this Agreement, it being specifically agreed that this Agreement shall remain in abeyance till final determination by the Court(s)/ Tribunal(s)/ Authority(ies). However, the Vendee may, if he/ she so desires, become a party along with the Vendor/Developer in such litigation to protect Vendee's rights arising under this Agreement. Further, in the event of the Vendor/Developer succeeding in its challenge to the impugned legislation or Rule, Regulation or Order, as the case may be, it is hereby agreed that this Agreement shall stand revived and the Vendee and the Vendor/Developer shall be liable to fulfil fulfill all obligations as provided in this Agreement. It is further agreed that in the event of the aforesaid challenge of the Vendor/Developer to the impugned Legislation/Order/Legislation/ Order/ Rule/ Regulation not succeeding and the said legislation/order/rule/regulation becoming final, absolute and binding, the Vendor/Developer will appoint a Receiver who shall have all the rights and authority to sell the entire property and disburse the sale proceeds among the Unit holders, for the amount attributable to the said Unit, after making payments of the statutory dues and secured creditors and after deducting interest on delayed payments, processing fee etc, and any other expenses attributable to the said Unit. The receiver will disburse the payments within a reasonable time in such manner as may be decided by the Receiver and the Vendee agrees to accept the Receiver's decision in this regard to be final and binding. Save as otherwise provided herein, the Vendee shall not have any other right or claim of whatsoever nature against the Vendor/Developer under or in relation to this Agreement. (iii) The Vendee agrees and accepts that in case of any default/delay in payment as per the Schedule of Payments as provided in Annexure I, the date of handing over of the possession shall be extended by the number of the days equivalent to the total number of days for which Vendee defaults/delays the payment of installment(s) and/or any other payment due and payable in terms hereof in handing over the Unit. For the sake of clarity, each delay shall be independently counted for purpose of the calculation of such extension. Without prejudice to the generality of the aforesaid and other rights of the Vendor/Developer, the date of handing over of the possession shall be extended accordingly solely on Vendor's/Developer's discretion till the payment of all outstanding amounts by the Vendee to the Vendor/Developer to the satisfaction of the Vendor/Developer. (iv) Subject to the Vendee having complied with its/his/her/their obligations assumed and undertaken under the Agreement, the Allotment Letter as well as the Application, including but not limited to timely payment of the Sale Price and other amounts as set out in the Agreement and other terms and conditions of this Agreement, in the event of any willful delay in offering the possession of the Unit within stipulated period for reasons solely attributable to the Vendor, Interest at the rate prescribed in Rules would be payable to the Vendee. It is hereby clarified that the above said delay charges shall be payable, subject to a demand being made in writing by the Vendee for the same (and be calculated from the date of the said demand), till the date when possession of the Unit is offered to the Vendee. Further, all payments towards the delay charges, as due from the Vendor/Developer, would be adjusted from payments due to the Vendor/Developer from the Vendee at the time of the final installment/settlement thereof. Provided specifically that, the Vendor/Developer shall, at its sole option, be entitled (without the payment of any delay charges) to not offer possession of the Unit to the Vendee, till all amounts due and payable by the Vendee to the Vendor/Developer, as of such date (including all default interest specified above), have been paid by the Vendee.

Time of handing over the Possession. a) Subject to terms of this clause and subject to the Vendee having complied with all the terms and conditions of this Agreement and not being in default under any of the provisions of this Agreement and complied with all provisions, formalities, documentation etc., as prescribed by the Vendor/Developer, and all just exceptions, the Vendor/Developer Vendor based on its present plans and estimates shall endeavour to hand over the possession of the Unit Flat within a period agreed upon of 60(Sixty) months from the date of signing of this Agreement. The Vendee agrees and understands that the Vendor shall be entitled to a grace period of 90 days, after the expiry of 60 (Sixty) months, for applying and obtaining the occupation certificate in terms phases in respect of Clause 7.1 (a) herein abovethe different towers of the Group Housing Complex. b) In addition Subject to the circumstances set out in Clause 28, in the following circumstances, the date of possession shall get extended accordingly: i : (i) The completion of the said Aarohan Residences Phase - I Group Housing Complex including the Unit Flat is delayed by reason of non-availability of steel and/ or cement or other building materials, or water supply or electric power or slow down, strike or, lock-out or civil commotion or by reason of war or enemy action or terrorist action or earthquake or any act of God or due to any Act, Notice, Order, Rule or Notification of the Government and/or any other Public or Competent Authority or due to delay in sanction of any revised building/ zoning plans or for any other reasons beyond the control of the Vendor/Developer, then the Vendee agrees that the Vendor/Developer Vendor shall be entitled to the extension of time for handing over of the possession of the said UnitFlat. The Vendor/Developer Vendor as a result of such a contingency arising reserves the right to alter or vary the terms and conditions of this Agreement or if the circumstances are beyond the control of the Vendor/Developer Vendor so warrant, the Vendor/Developer Vendor may suspend the construction of Aarohan Residences Phase - I the Group Housing Complex and this Agreement for such period as it may consider expedient and the Vendee agrees not to claim compensation of any nature whatsoever of this Agreement for the period of suspension/delay in suspension of the construction of Aarohan Residences Phase - I the Group Housing Complex and this Agreement. ii . (ii) If as a result of any law that may be passed by any legislature or Rule, Regulation or Order or notification that may be made and/or issued by the Government or any other Authority including a Municipal Authority or on account of delay in sanctioning of plans or any other sanctions or approval for development or issuance of occupation certificate by appropriate Authorities, the Vendor/Developer Vendor is not in a position to hand over the possession of the UnitFlat, then the Vendor/Developer Vendor may, if so advised, though not bound to do so, at its sole discretion challenge the validity, applicability and/ or efficacy of such Legislation, Rule, Order or notification by moving the appropriate Courts, Tribunal(s) and/or Authority. In such a situation, the money(ies) paid by the Vendee in pursuance of this Agreement, shall continue to remain with the Vendor/Developer Vendor and the Vendee agrees not to move for or to obtain specific performance of the terms of this Agreement, it being specifically agreed that this Agreement shall remain in abeyance till final determination by the Court(s)/ Tribunal(s)/ Authority(ies). However, the Vendee may, if he/ she so desires, become a party along with the Vendor/Developer Vendor in such litigation to protect Vendee's rights arising under this Agreement. Further, in the event of the Vendor/Developer Vendor succeeding in its challenge to the impugned legislation or Rule, Regulation or Order, as the case may be, it is hereby agreed that this Agreement shall stand revived and the Vendee and the Vendor/Developer Vendor shall be liable to fulfil all obligations as provided in this Agreement. It is further agreed that in the event of the aforesaid challenge of the Vendor/Developer Vendor to the impugned Legislation/Order/Legislation/ Order/ Rule/ Regulation not succeeding and the said legislation/order/rule/regulation becoming final, absolute and binding, the Vendor/Developer Vendor will appoint a Receiver who shall have all the rights and authority to sell the entire property and disburse the sale proceeds among the Unit Flat holders, for the amount attributable to the said UnitFlat, after making payments of the statutory dues and secured creditors and after deducting interest on delayed payments, processing fee etc, and any other expenses attributable to the said UnitFlat. The receiver will disburse the payments within a reasonable time in such manner as may be decided by the Receiver and the Vendee agrees to accept the Receiver's decision in this regard to be final and binding. Save as otherwise provided herein, the Vendee shall not have any other right or claim of whatsoever nature against the Vendor/Developer Vendor under or in relation to this Agreement. (iii) The Vendee agrees and accepts that in case of any default/delay in payment as per the Schedule of Payments as provided in Annexure I, the date of handing over of the possession shall be extended accordingly solely on Vendor's discretion till the payment of all outstanding amounts to the satisfaction of the Vendor. (iv) Subject to the Vendee having complied with its obligations under this Agreement, as well as the Allotment Letter, including but not limited to timely payment of the Sale Price and other amounts as set out in the Agreement and other terms and conditions of this Agreement, in the event of any wilful delay in offering the possession of the Flat within stipulated period for reasons attributable solely to the Vendor, delay charges @ Rs. 5/- ( Rs. Five Only) per sq.ft. per month on Super Area basis, would be payable to the Vendee. It is hereby clarified that the above said delay charges shall be payable, subject to a demand being made by the Vendee for the same (and be calculated from the date of the said demand), till the date when possession of the Flat is offered to the Vendee. Further, all payments towards the delay charges, as due from the Vendor, would be adjusted from payments due to the Vendor from the Vendee at the time of the final settlement thereof. Provided specifically that, the Vendor shall, at its sole option, be entitled (without the payment of any delay charges) to not offer possession of the Flat to the Vendee, till all amounts due and payable by the Vendee to the Vendor, as of such date (including all default interest specified above), have been paid by the Vendee.