ALLOTTEE’S COVENANT Sample Clauses

ALLOTTEE’S COVENANT. 6.1.1 In the event of the Allottee/s failing to pay the afore sums, in the manner provided in Schedule D or cancel/withdraw from the Project except for the default of the Promoter, then the Promoter at their discretion after due notice of 15 days to the Allottee/s is entitled to cancel this Agreement and re-allot the Apartment, to any third party and the Allottee/s shall thereafter have no right, interest or claim over the Apartment. Consequent to such termination, subject to forfeiture of the Booking Amount,applicable taxes and charges the Promoter shall refund the monies collected from the Allottee/s within 90 days of such cancellation without interest, simultaneous to the Allottee/s executing and registering Deed of Cancellation of this Agreement and / or Agreement for Sale and/or Sale Deed by the Allottee/s . The Allottee/s hereby appoints the Promoter as his/her/their/its Constituted Attorney and authorizes the Promoter to execute and register such deed of cancellation and such other documents and/or writings for and on behalf and in the name of the Allottee/s without recourse to the Allottee/s, in the event the Allottee/s fail/s to come forward and/or are unable to execute and register the deed of cancellation within 30 days of the termination and/or cancellation of this Agreement. The Allottee/s shall return to the Promoter all the original documents, papers, writings executed between the Parties including the original Agreement for Sale and Construction Agreement on or before the registration of the deed of cancellation. necessary cancellation and registration of the Agreement and/or sale deed by the Allottee/s. Alternatively, the Promoter shall be entitled for interest as prescribed under the RERA Act, TNRERA Rules for such delayed payment by the Allottee/s, subject to the Promoter constructing the Apartment as per the time lines committed by them. 6.1.2 The Allottee/s ▇▇▇▇▇▇ agrees that the assignment of the Allottee/s’s right under this agreement to any third party is subject to the prior written permission of the Promoter and further agrees to pay to the Promoter an Assignment fee of 15 % of Consideration (“Assignment Fee). 6.1.3 The Parties hereby confirm that this Agreement and the Agreement for Sale of even date entered into by the Allottee/s and eventually the Sale Deed foe the shall co-exist or co-terminate. 6.1.4 It is specifically agreed by the Allottee/s that the Allottee/s shall bear all statutory charges from the date of intimating th...
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ALLOTTEE’S COVENANT. 32.1 The Allottee/s has/have accepted the title of the Owner to the said Property as shown in the records of rights in respect thereof and the documents referred to herein above. 32.2 The Allottee /s has/have examined the approvals of the Building and the Floor Plans, the nature and quality of construction fittings, fixtures, facilities and amenities provided/to be provided thereto as per the general specifications as well as the common facilities and amenities. 32.3 The Allottee/s has/have fully understood the development scheme as envisaged by the Developers. 32.4 The Allottee/s hereby confirms that he/she/they has/have fully read and understood the foregoing recitals and has/have agreed that the Promoter with the consent of the Owner herein are entitled to develop the said properties and the Allottee/s will not object to the same. The Allottee/s also confirms, agrees and declares that the consideration agreed to be paid by him/her/them shall have no right or claim and/or will not make any claim on any other portion of the said Building.
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ALLOTTEE’S COVENANT. 32.1 The Allottee/s has/have accepted the title of the Owner to the said Property as shown in the records of rights in respect thereof and the documents referred to herein above. 32.2 The Allottee /s has/have examined the approvals of the Building and the Floor Plans, the nature and quality of construction fittings, fixtures, facilities and amenities provided/to be provided thereto as per the general specifications as well as the common facilities and amenities. 32.3 The Allottee/s has/have fully understood the development scheme as envisaged by the Developers. 32.4 The Allottee/s hereby confirms that he/she/they has/have fully read and understood the foregoing recitals and has/have agreed that the Developers with the consent of the Owner herein are entitled to develop the said properties and the Allottee/s will not object to the same. The Allottee/s also confirms, agrees and declares that the consideration agreed to be paid by him/her/them shall have no right or claim and/or will not make any claim on any other portion of the said Building. 32. 5The Developers shall have to obtain prior consent in writing of the Allottee/s in respect of variations or modifications which may adversely affect the said Apartment of the Allottee/s except any alteration or addition required by any Government authorities or due to change in law.
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ALLOTTEE’S COVENANT. 1. In the event of the Allottee failing to pay the aforesaid sums, in the manner provided in Schedule D or cancel/withdraw from the Project except for the default of the Promoter, then the Promoter at their discretion after due notice of ( ) days to the Allottee is entitled to cancel this Agreement and re-allot the Apartment, to the another party and the Allottee shall thereafter have no right, interest or claim over the Apartment. Consequent to such termination, subject to deduction of the booking amount, the Promoter shall refund the monies collected from the Allottee within (----) days of such cancellation without interest, simultaneous to the Allottee executing necessary cancellation and registration of the Agreement and/or sale deed by the Allottee. 2. The Allottee hereby agrees that the assignment of the Allottee‟s right under this agreement to any third party is subject to the prior written permission of the Promoter and further agrees to pay to the Promoter an Assignment fee of [ ]% of Construction Cost („Assignment Fee‟). 3. The Parties hereby confirm that this Agreement and the Agreement for Sale of even date entered into by the Allottee shall co-exist or co-terminate. 4. It is specifically agreed by the Allottee that the Allottee shall bear all statutory charges from the date of intimating the readiness of the Apartment for handover by the Promoter
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ALLOTTEE’S COVENANT. 36.1 After causing all necessary due diligence exercises in respect of the Said Land and the Project, compliances and non- compliances of the Promoter, inspection and verification of all the title deeds, documents, sanctions and approvals in relation to the Said Land and the Project respectively, the Allottee has accepted the title of the Owners in respect of the Apartment and the right of the Promoter in respect of the construction of the Project. 36.2 The Allottee hereby confirms that, he/she/it has sought and obtained independent legal advice and opinion on this Agreement from his/her/its appointed advocate(s)/lawyer(s) andbeing fully satisfied with the opinion of his/her/its appointed advocate(s)/lawyer(s), caused execution and registration of this Agreement. 36.3 The Allottee has examined the approvals of the Project Property and the floor plans including the plan of the Apartment, the nature and quality of construction fittings, fixtures, facilities and amenities provided/to be provided thereto as per the general specifications as well as the common facilities and amenities of the Project. 36.4 The Allottee hereby agrees with the Common Areas intended to form part of the Project. 36.5 The Allottee hereby confirms the measurement of the Carpet Area of the Apartment and the method of calculation thereof. 36.6 The Allottee has fully understood the development scheme of the Project as envisaged by the Promoter. 36.7 The Allottee hereby confirms in the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction, the Promoter, on the recommendations of the architect, shall be entitled to effect such changes in the materials and specifications provided the Promoter shall ensure that the cost and quality of the substituted materials or specifications is equivalent to the quality and cost of materials and specifications as set out in the Seventh Schedule hereunder written. 36.8 The Allottee hereby confirms that he/she/it has fully read and understood the foregoing recitals and is aware of all applicable laws, rules, regulations, notifications and circulars in respect of this transaction and further has/have agreed that the Promoter with the consent of the Owners herein are entitled to develop the Said Land and the Allottee will not object to the same. The Allottee also confirms, agrees and declares that the consideration including extra charges & deposits (morefully mention...
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Related to ALLOTTEE’S COVENANT

  • LESSOR'S COVENANTS The Lessor covenants and agrees that, unless the Agent and the Lenders shall have otherwise consented in writing: (a) it shall not amend its Partnership Agreement, except to admit limited partners in connection with lease transactions similar to the Transactions; (b) it shall not incur any indebtedness or other monetary obligation or liability, other than (i) non-recourse indebtedness incurred in connection with the Transactions or similar transactions and (ii) operating expenses incurred in the ordinary course of business that are not delinquent; (c) the proceeds of the Loans received from the Lenders will be used by the Lessor solely to acquire the Leased Property and to pay the Lessee for certain closing and transaction costs associated therewith and for the costs of Construction. No portion of the proceeds of the Loans will be used by the Lessor (i) in connection with, whether directly or indirectly, any tender offer for, or other acquisition of, stock of any corporation with a view towards obtaining control of such other corporation, (ii) directly or indirectly, for the purpose, whether immediate, incidental or ultimate, of purchasing or carrying any Margin Stock, or (iii) for any purpose in violation of any Applicable Law; (d) it shall not engage in any business or activity, or invest in any Person, except for activities similar to its activities conducted on the date hereof, the Transactions and lease transactions similar to the Transactions; (e) it will maintain tangible net worth in an amount no less than the sum of (i) $100,000 plus (ii) 3% of its total assets (calculated assuming no reduction in the value of any leased property from its original cost to the Lessor); (f) it will deliver to the Agent, as soon as available and in any event within 90 days after the end of each fiscal year, a balance sheet of the Lessor as of the end of such fiscal year and the related statements of income, partners' capital and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, together with copies of its tax returns, all certified by an officer of the general partner (and if the Lessor ever prepares audited financial statements, it shall deliver copies thereto the Agent); (g) it will permit the Agent and its representatives to examine, and make copies from, the Lessor's books and records, and to visit the offices and properties of the Lessor for the purpose of examining such materials, and to discuss the Lessor's performance hereunder with any of its, or its general partner's, officers and employees; (h) it shall not consent to or suffer or permit any Lien against the Leased Property, other than as expressly contemplated pursuant to the Operative Documents; (i) it shall not consent to or suffer or permit the creation of any easement or other restriction against the Leased Property other than as permitted pursuant to Article VI of the Lease; and (j) it shall promptly discharge each Lessor Lien and shall indemnify the Lenders and the Lessee for any diminution in value of any Leased Property resulting from such Lessor Liens.

  • The Executive's Covenants The Executive agrees that, subject to the terms and conditions of this Agreement, in the event of a Potential Change in Control during the Term, the Executive will remain in the employ of the Company until the earliest of (i) a date which is six (6) months from the date of such Potential Change in Control, (ii) the date of a Change in Control, (iii) the date of termination by the Executive of the Executive’s employment for Good Reason or by reason of death, Disability or Retirement, or (iv) the termination by the Company of the Executive’s employment for any reason.

  • Independent Covenant 12 Section 10.06 Materiality............................................ 13

  • Nonsolicitation Covenant In consideration of the payments to be made to Executive hereunder, Executive hereby covenants, for a period of two (2) years following the Qualifying Termination, that he will not, directly or indirectly (whether as an officer, director, employee, individual proprietor, control shareholder, consultant, partner or otherwise) (i) solicit, recruit or hire-away any employee of the Company or successor of the Company or (ii) solicit, influence or attempt to influence any person or entity to terminate such person’s or entity’s contractual and/or business relationship with the Company or successor of the Company. With regard to this Section 9, Executive acknowledges that the provisions herein are reasonable in both scope and duration and necessary to protect the business of the Company or its successor.

  • Executives Covenants The Executive agrees that, subject to the terms and conditions of this Agreement, in the event of a Potential Change in Control during the Term, the Executive will remain in the employ of the Company until the earliest of (i) a date which is six (6) months from the date of such Potential Change in Control, (ii) the date of a Change in Control, (iii) the date of termination by the Executive of the Executive's employment for Good Reason or by reason of death, Disability or Retirement or (iv) the termination by the Company of the Executive's employment for any reason.