Common use of Breach/Cancellation by Buyer Clause in Contracts

Breach/Cancellation by Buyer. In the event the Buyer (1) fails to make timely payment of the Total Price and the Extras, or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement, or (3) neglects to perform any of the Buyer’s Covenants, or (4) otherwise cancels, rescinds, terminates or determines this Agreement on any ground whatsoever except breach of Seller’s Covenants, this Agreement shall, at the option of the Seller, stand cancelled and/or rescinded, upon which the Seller shall within 3 (three) months from the date of cancellation refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the amount received upto the date of cancellation or Rs.25,000/- (Rupees twenty five thousand), whichever is higher, as liquidated damages. Payments made by the Buyer for up-gradation shall be non-refundable. In the event the Seller condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 12% (twelve percent) per annum for the period of delay (computed from the date the payment became due till the date of payment) on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Seller and the Seller shall have absolute liberty to cancel or not to cancel and the Buyer shall not be entitled to claim condonation as a matter of right.

Breach/Cancellation by Buyer. In the event the Buyer (1) fails to make timely payment of the Total Price and the Extras, or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement, or (3) neglects to perform any of the Buyer’s Covenants, or (4) otherwise cancels, rescinds, terminates or determines this Agreement on any ground whatsoever except breach of Seller’s Covenants, this Agreement shall, at the option of the SellerOwner No. 2/Developer, stand cancelled and/or rescinded, upon which the Seller Owner No. 2/Developer shall within 3 6 (threesix) months from the date of cancellation refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent2%) of the amount received upto the date of cancellation or Rs.25,000/- (Rupees twenty five thousand), whichever is higher, Total Price as liquidated damages. Payments made by the Buyer for up-gradation shall be non-refundable. In the event the Seller Owner No. 2/Developer condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay simple interest @ 12% (twelve percent) per annum for the period of delay (computed from the date the payment became due till the date of payment) on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Seller Owner No. 2/Developer and the Seller Owner No. 2/Developer shall have absolute liberty to cancel or not to cancel and the Buyer shall not be entitled to claim condonation as a matter of right.

Breach/Cancellation by Buyer. In the event the Buyer (1) fails to make timely payment of the Total Price and the Extras, or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement, or (3) neglects to perform any of the Buyer’s Covenants, or (4) otherwise cancels, rescinds, terminates or determines this Agreement on any ground whatsoever except breach of Seller’s Sellers’ Covenants, this Agreement shall, at the option of the SellerIdeal, stand cancelled and/or rescinded, upon which the Seller Ideal shall within 3 (three) months from the date of cancellation refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the amount received upto the date of cancellation or Rs.25,000/- (Rupees twenty five thousand), whichever is higher, as liquidated damages. Payments made by the Buyer for up-gradation shall be non-refundable. In the event the Seller Ideal condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 12% (twelve percent) per annum for the period of delay (computed from the date the payment became due till the date of payment) on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Seller Ideal and the Seller Ideal shall have absolute liberty to cancel or not to cancel and the Buyer shall not be entitled to claim condonation as a matter of right.

Breach/Cancellation by Buyer. In the event the Buyer (1) fails to make timely payment of the Total Price and the Extras, Extras or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement, Agreement or (3) neglects to perform any of the Buyer’s Covenants, Covenants or (4) otherwise cancels, rescinds, terminates or determines this Agreement on any ground whatsoever except breach of Seller’s Sellers’ Covenants, this Agreement shall, at the option of the SellerDeveloper, stand cancelled and/or rescinded, upon which the Seller Developer shall within 3 (three) months from the date of cancellation refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the amount received upto the date of cancellation or Rs.25,000/- (Rupees twenty five thousand), whichever is higher, as liquidated damages. Payments made by the Buyer for up-gradation shall be non-refundable. In the event the Seller Developer condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 12% (twelve percent) per annum for the period of delay (computed from the date the payment became due till the date of payment) on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Seller Developer and the Seller Developer shall have absolute liberty to cancel or not to cancel and the Buyer shall not be entitled to claim condonation as a matter of right.

Breach/Cancellation by Buyer. In the event the Buyer (1) fails to make timely payment of the Total Price and the Extras, or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement, or (3) neglects to perform any of the Buyer’s Covenants, or (4) otherwise cancels, rescinds, terminates or determines this Agreement on any ground whatsoever except breach of Seller’s Sellers’ Covenants, this Agreement shall, at the option of the SellerAssignor, stand cancelled and/or rescinded, upon which the Seller Assignor shall within 3 (three) months from the date of cancellation refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the amount received upto the date of cancellation or Rs.25,000/- (Rupees twenty five thousand), whichever is higher, as liquidated damages. Payments made by the Buyer for up-gradation shall be non-refundable. In the event the Seller Assignor condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 12% (twelve percent) per annum for the period of delay (computed from the date the payment became due till the date of payment) on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Seller Assignor and the Seller Assignor shall have absolute liberty to cancel or not to cancel and the Buyer shall not be entitled to claim condonation as a matter of right.

Breach/Cancellation by Buyer. In the event the Buyer (1) fails to make timely payment of the Total Price and the Extras, Extras or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement, Agreement or (3) neglects to perform any of the Buyer’s Covenants, Covenants or (4) otherwise cancels, rescinds, terminates or determines this Agreement on any ground whatsoever except breach of Seller’s Covenants, this Agreement shall, at the option of the Seller, stand cancelled and/or rescinded, upon which the Seller shall within 3 (three) months from the date of cancellation refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the amount received upto the date of cancellation or Rs.25,000/- (Rupees twenty five thousand), whichever is higher, as liquidated damages. Payments made by the Buyer for up-gradation shall be non-refundable. In the event the Seller condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 12% (twelve percent) per annum for the period of delay (computed from the date the payment became due till the date of payment) on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Seller and the Seller shall have absolute liberty to cancel or not to cancel and the Buyer shall not be entitled to claim condonation as a matter of right.

Breach/Cancellation by Buyer. In the event the Buyer (1) cancels the booking after payment of the booking amount and before entering into the flat sale agreement then the Developer shall be entitled to forfeit the booking amount, or (2) fails to make timely payment of the Total Price and the ExtrasExtras after entering into the flat sale agreement, or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement, or (3) neglects to perform any of the Buyer’s CovenantsBuyer‟s Covenant, or (4) otherwise cancels, rescinds, terminates or determines this Agreement on any ground whatsoever except breach of Seller’s Sellers‟s Covenants, this Agreement shall, at the option of the SellerDeveloper, stand stands cancelled and/or rescinded, upon which the Seller Developer shall within 3 (three) months from the date of cancellation refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the amount received upto the date of cancellation or Rs.25,000/- (Rupees twenty five thousand)Total Price. Payments, whichever is higherif any, as liquidated damages. Payments made by the Buyer for up-gradation shall be non-refundable. In the event the Seller Developer condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 12% (twelve percent) per annum for the period of delay (computed from the date the payment became due till the date of payment) on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Seller Developer and the Seller Developer shall have absolute liberty to cancel or not to cancel and the Buyer shall not be entitled to claim condonation as a matter of right.