Common use of ADJUSTMENT/APPROPRIATION OF PAYMENTS Clause in Contracts

ADJUSTMENT/APPROPRIATION OF PAYMENTS. 4.1. The Allottee authorizes the Promoter to adjust/appropriate all payments made by him/her under any head(s) of dues against lawful outstanding of the Allottee against the said Apartment, if any, in his/her name and the Allottee undertakes not to object/demand/direct the Promoter to adjust his payments in any manner. 4.2. The Promoter shall periodically intimate in writing to the Allottee, the amount payable as stated in Clause 4.1 above and the Allottee shall make payment demanded by the Promoter within the time and in the manner specified therein. In addition, the Promoter shall provide to the Allottee the details of the taxes paid or demanded along with the acts/rules/notifications together with dates from which such taxes/levies etc. have been imposed or become effective; 4.3. Not withstanding anything contained in this Agreement, any amounts received from the Allottee pursuant to this Agreement shall be utilised as under: a. Firstly, towards all statutory taxes due and payable on each invoice raised by the Promoter (where taxes in respect of the oldest invoice shall be cleared first) until all taxes payable have been recovered by the Promoter; b. Secondly (and only after all amounts under sub-clause (a) have been recovered), in the event any interest becomes due and payable by the Allottee, towards such interest due until the entire interest accrued has been received by the Promoter, c. Thirdly (and only after all amounts under sub-clause (b) have been recovered), towards part of the Sale Consideration raised under various invoices where the amount raised under the oldest invoice shall be cleared first; d. Further, in the event there is any amount remaining after adjustment of all the aforesaid amounts, the excess shall be treated as an advance received from the Allottee, however, the Allottee shall not be entitled to receive any interest on such advance paid.

ADJUSTMENT/APPROPRIATION OF PAYMENTS. 4.1. The Allottee Allottee/s authorizes the Promoter to adjust/appropriate all payments made by him/her under any head(s) of dues against lawful outstanding of the Allottee Allottee/s against the said Apartment, if any, in his/her name and the Allottee Allottee/s undertakes not to object/demand/direct the Promoter to adjust his payments in any manner. 4.2. The Promoter shall periodically intimate in writing to the Allottee/s, the amount payable as stated in Clause 4.1 above and the Allottee Allottee/s shall make payment demanded by the Promoter within the time and in the manner specified therein. In addition, the Promoter shall provide to the Allottee Allottee/s the details of the taxes paid or demanded along with the acts/rules/notifications together with dates from which such taxes/levies etc. have been imposed or become effective;. 4.3. Not withstanding anything contained in this Agreement, any amounts received from the Allottee Allottee/s pursuant to this Agreement shall be utilised as under: a. Firstly, towards all statutory taxes due and payable on each invoice raised by the Promoter (where taxes in respect of the oldest invoice shall be cleared first) until all taxes payable have been recovered by the Promoter;. b. Secondly (and only after all amounts under sub-clause (a) have been recovered), in the event any interest becomes due and payable by the Allottee/s, towards such interest due until the entire interest accrued has been received by the Promoter,. c. Thirdly (and only after all amounts under sub-clause (b) have been recovered), towards part of the Sale Consideration raised under various invoices where the amount raised under the oldest invoice shall be cleared first;. d. Further, in the event there is any amount remaining after adjustment of all the aforesaid amounts, the excess shall be treated as an advance received from the Allottee/s, however, the Allottee Allottee/s shall not be entitled to receive any interest on such advance paid.

ADJUSTMENT/APPROPRIATION OF PAYMENTS. 4.1. The Allottee authorizes the Promoter to adjust/appropriate all payments made by him/her under any head(s) of dues against lawful outstanding of the Allottee against the said Said Apartment, if any, in his/her name and the Allottee undertakes not to object/demand/direct the Promoter to adjust his payments in any manner. 4.2. The Promoter shall periodically intimate in writing to the Allottee, the amount payable as stated in Clause 4.1 above and the Allottee shall make payment demanded by the Promoter within the time and in the manner specified therein. In addition, the Promoter shall provide to the Allottee the details of the taxes paid or demanded along with the acts/rules/notifications together with dates from which such taxes/levies etc. have been imposed or become effective; 4.3. Not withstanding anything contained in this Agreement, any amounts received from the Allottee pursuant to this Agreement shall be utilised as under: a. Firstly, towards all statutory taxes due and payable on each invoice raised by the Promoter (where taxes in respect of the oldest invoice shall be cleared first) until all taxes payable have been recovered by the Promoter; b. Secondly (and only after all amounts under sub-clause (a) have been recovered), in the event any interest becomes due and payable by the Allottee, towards such interest due until the entire interest accrued has been received by the Promoter, c. Thirdly (and only after all amounts under sub-clause (b) have been recovered), towards part of the Sale Consideration raised under various invoices where the amount raised under the oldest invoice shall be cleared first; d. Further, in the event there is any amount remaining after adjustment of all the aforesaid amounts, the excess shall be treated as an advance received from the Allottee, however, the Allottee shall not be entitled to receive any interest on such advance paid.

ADJUSTMENT/APPROPRIATION OF PAYMENTS. 4.1. 4.1 The Allottee authorizes the Promoter to adjust/appropriate all payments made by him/her under any head(s) of dues against lawful outstanding of the Allottee against the said ApartmentVilla, if any, in his/her name and the Allottee undertakes not to object/demand/direct the Promoter to adjust his payments in any manner. 4.2. 4.2 The Promoter shall periodically intimate in writing to the Allottee, the amount payable as stated in Clause 4.1 above and the Allottee shall make payment demanded by the Promoter within the time and in the manner specified therein. In addition, the Promoter shall provide to the Allottee the details of the taxes paid or demanded along with the acts/rules/notifications together with dates from which such taxes/levies etc. have been imposed or become effective; 4.3. Not withstanding 4.3 Notwithstanding anything contained in this Agreement, any amounts received from the Allottee pursuant to this Agreement shall be utilised as under: a. 1. Firstly, towards all statutory taxes due and payable on each invoice raised by the Promoter (where taxes in respect of the oldest invoice shall be cleared first) until all taxes payable have been recovered by the Promoter; b. 2. Secondly (and only after all amounts under sub-clause (a) have been recovered), in the event any interest becomes due and payable by the Allottee, towards such interest due until the entire interest accrued has been received by the Promoter, c. 3. Thirdly (and only after all amounts under sub-clause (b) have been recovered), towards part of the Sale Consideration raised under various invoices where the amount raised under the oldest invoice shall be cleared first; d. 4. Further, in the event there is any amount remaining after adjustment of all the aforesaid amounts, the excess shall be treated as an advance received from the Allottee, however, the Allottee shall not be entitled to receive any interest on such advance paid.

ADJUSTMENT/APPROPRIATION OF PAYMENTS. 4.1. 4.1 The Allottee authorizes the Promoter to adjust/appropriate all payments made by him/her under any head(s) of dues against lawful outstanding of the Allottee against the said Apartment, if any, in his/her name and the Allottee undertakes not to object/demand/direct the Promoter to adjust his payments in any manner. 4.2. 4.2 The Promoter shall periodically intimate in writing to the Allottee, the amount payable as stated in Clause 4.1 above and the Allottee shall make payment demanded by the Promoter within the time and in the manner specified therein. In addition, the Promoter shall provide to the Allottee the details of the taxes paid or demanded along with the acts/rules/notifications together with dates from which such taxes/levies etc. have been imposed or become effective; 4.3. Not withstanding 4.3 Notwithstanding anything contained in this Agreement, any amounts received from the Allottee pursuant to this Agreement shall be utilised as under: a. 1. Firstly, towards all statutory taxes due and payable on each invoice raised by the Promoter (where taxes in respect of the oldest invoice shall be cleared first) until all taxes payable have been recovered by the Promoter; b. 2. Secondly (and only after all amounts under sub-clause (a) have been recovered), in the event any interest becomes due and payable by the Allottee, towards such interest due until the entire interest accrued has been received by the Promoter, c. 3. Thirdly (and only after all amounts under sub-clause (b) have been recovered), towards part of the Sale Consideration raised under various invoices where the amount raised under the oldest invoice shall be cleared first; d. 4. Further, in the event there is any amount remaining after adjustment of all the aforesaid amounts, the excess shall be treated as an advance received from the Allottee, however, the Allottee shall not be entitled to receive any interest on such advance paid.

ADJUSTMENT/APPROPRIATION OF PAYMENTS. 4.1. The Allottee authorizes the Promoter to adjust/adjust appropriate all payments made by him/her under any head(s) of dues against lawful outstanding of the Allottee against the said Apartment, UNIT if any, in his/her name and the Allottee undertakes not to object/demand/direct the Promoter to adjust his such payments in any other manner. 4.2. The Promoter In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall periodically intimate in writing to the Allottee, the amount payable be treated as stated in Clause 4.1 above a default and the Allottee shall make payment demanded by the Promoter within the time and in the manner specified thereinmay at its sole discretion be entitled to exercise any recourse available herein. In additionFurther, the Promoter shall provide to intimate the Allottee the details of the taxes paid or demanded along with dishonour of the acts/rules/notifications together with dates from which such taxes/levies etc. have been imposed or become effective; 4.3. Not withstanding anything contained in this Agreement, any cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts received including interest at the Applicable Interest Rate from the Allottee pursuant to this Agreement shall be utilised as under: a. Firstly, towards all statutory taxes due and payable on each invoice raised date till the date of receipt by the Promoter (where taxes in respect of the oldest invoice shall be cleared first) until all taxes payable have been recovered by the Promoter; b. Secondly (and only after all amounts under sub-clause (a) have been recovered), in the event any interest becomes due and payable by the Allottee, towards such interest due until the entire interest accrued has been received by the Promoter, c. Thirdly (and only after all amounts under sub-clause (b) have been recovered), towards part of the Sale Consideration raised under various invoices where the amount raised under the oldest invoice shall be cleared first; d. Further, in the event there is any amount remaining after adjustment of all the aforesaid amounts, amounts including the excess dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be treated as an advance received from the Allottee, however, the Allottee shall not be entitled to receive cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any interest cheque, the Promoter has no obligation to return the original dishonoured cheque. In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such advance paidpayment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

ADJUSTMENT/APPROPRIATION OF PAYMENTS. 4.1. 4.1 The Allottee Allottee/s authorizes the Promoter to adjust/appropriate all payments made by him/her under any head(s) of dues against lawful outstanding of the Allottee Allottee/s against the said Apartment, if any, in his/her name and the Allottee Allottee/s undertakes not to object/demand/direct the Promoter to adjust his payments in any manner. 4.2. 4.2 The Promoter shall periodically intimate in writing to the Allottee/s, the amount payable as stated in Clause 4.1 above and the Allottee Allottee/s shall make payment demanded by the Promoter within the time and in the manner specified therein. In addition, the Promoter shall provide to the Allottee Allottee/s the details of the taxes paid or demanded along with the acts/rules/notifications together with dates from which such taxes/levies etc. have been imposed or become effective; 4.3. Not withstanding 4.3 Notwithstanding anything contained in this Agreement, any amounts received from the Allottee Allottee/s pursuant to this Agreement shall be utilised as under: a. Firstly, towards all statutory taxes due and payable on each invoice raised by the Promoter (where taxes in respect of the oldest invoice shall be cleared first) until all taxes payable have been recovered by the Promoter; b. Secondly (and only after all amounts under sub-clause (a) have been recovered), in the event any interest becomes due and payable by the Allottee/s, towards such interest due until the entire interest accrued has been received by the Promoter, c. Thirdly (and only after all amounts under sub-clause (b) have been recovered), towards part of the Sale Consideration raised under various invoices where the amount raised under the oldest invoice shall be cleared first; d. Further, in the event there is any amount remaining after adjustment of all the aforesaid amounts, the excess shall be treated as an advance received from the Allottee/s, however, the Allottee Allottee/s shall not be entitled to receive any interest on such advance paid.