Common use of Additional Terms And Covenants Regarding Cancelation by Allottee Clause in Contracts

Additional Terms And Covenants Regarding Cancelation by Allottee. In addition to Clause 7.5 as provided herein above, it being agreed that if the Allottee proposes to cancel/withdraw from the Project without any fault of the Promoter, then the Promoter herein is entitled to forfeit the ooking amount paid for the allotment along with all interest liabilities of the Allottee (in terms of Sec. 19 (6) and (7) of the Act) accrued till the date of such cancellation at such rate of interest that may be prescribed by the Authority from time to time (which rate applicable on the date of these presents is – SBI (1 year MCLR) + 2 %) (“Cancellation Charges”) and the applicable G.S.T. payable on such Cancellation Charges. It is further clarified that all amounts collected as GST and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such GST.

Additional Terms And Covenants Regarding Cancelation by Allottee. In addition to Clause 7.5 as provided herein above, it being agreed that if the Allottee proposes to cancel/withdraw from the Project without any fault of the Promoter, then the Promoter herein is entitled to forfeit the ooking booking amount paid for the allotment along with all interest liabilities of the Allottee (in terms of Sec. 19 (6) and (7) of the Act) accrued till the date of such cancellation at such rate of interest that may be prescribed by the Authority from time to time (which rate applicable on the date of these presents is – SBI (1 year MCLR) + 2 %) (“Cancellation Charges”) and the applicable G.S.T. payable on such Cancellation Charges. It is further clarified that all amounts collected as GST and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such GST.

Additional Terms And Covenants Regarding Cancelation by Allottee. In addition to Clause 7.5 as provided herein above, it being agreed that if the Allottee proposes to Allotteeproposesto cancel/withdraw from the Project without any fault of the Promoter, then the Promoter herein is entitled to forfeit the ooking amount paid for the allotment along with all interest liabilities of the Allottee (in terms of Sec. 19 (6) and (7) of the Act) accrued till the date of such cancellation dateofsuchcancellation at such rate of interest rateofinterest that may be prescribed by the Authority from time to time (which rate applicable on the date of these presents is – SBI (1 year MCLR) + 2 %) (“Cancellation Charges”) and the andthe applicable G.S.T. payable on such onsuch Cancellation Charges. It is further clarified that all amounts collected as GST and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such GST.