Common use of Cancellation Charge Clause in Contracts

Cancellation Charge. In case the Purchaser commits default in making payment of the consideration mentioned herein or in observing his covenants herein within time then in such event, the Developer shall give one month's notice in writing to the Purchaser setting out the default or breach complained of and calling upon the Purchaser to remedy the default or breach complained of and if on the expiry of such notice, the Purchaser continues the default or breach, then this agreement shall at the option of the Developer stand terminated and rescinded and also if the Purchaser wishes to cancel and/or withdraw from the Agreement of his own volition then in both such events the Developer shall become entitled to enjoy and/or transfer the said Unit and the Car Parking Space to any person without in any way becoming liable to the Purchaser and upon the Developer only after having entered unto a contract for sale of the said Unit and the Car Parking Space with any new buyer or buyers, only thereafter the Developer shall refund to the Purchaser the xxxxxxx money paid by the Purchaser to the Developer after deduction of a sum equivalent to 10% (ten percent) of the consideration as and by way of pre-determined compensation/liquidated damages or service charges.

Cancellation Charge. In case the Purchaser commits default in making payment of the consideration mentioned herein or in observing his covenants herein within time then in such event, the Developer Promoter shall give one month's notice in writing to the Purchaser setting out the default or breach complained of and calling upon the Purchaser to remedy the default or breach complained of and if on the expiry of such notice, the Purchaser continues the default or breach, then this agreement shall at the option of the Developer Promoter stand terminated and rescinded and also if the Purchaser wishes to cancel and/or withdraw from the Agreement of his own volition then in both such events the Developer Promoter shall become entitled to enjoy and/or transfer the said Unit and the Car Parking Space to any person without in any way becoming liable to the Purchaser and upon the Developer Promoter only after having entered unto a contract for sale of the said Unit and the Car Parking Space with any new buyer or buyers, only thereafter the Developer Promoter shall refund to the Purchaser the xxxxxxx money paid by the Purchaser to the Developer Promoter after deduction of a sum equivalent to 10% (ten percent) of the consideration as and by way of pre-determined compensation/liquidated damages or service charges.

Cancellation Charge. In case the Purchaser commits default in making payment of the consideration mentioned herein or in observing his covenants herein within time then in such event, the Developer Promoters shall give one month's notice in writing to the Purchaser setting out the default or breach complained of and calling upon the Purchaser to remedy the default or breach complained of and if on the expiry of such notice, the Purchaser continues the default or breach, then this agreement shall at the option of the Developer Promoters stand terminated and rescinded and also if the Purchaser wishes to cancel and/or withdraw from the Agreement of his own volition then in both such events the Developer Promoters shall become entitled to enjoy and/or transfer the said Unit and the Car Parking Space to any person without in any way becoming liable to the Purchaser and upon the Developer Promoters only after having entered unto a contract for sale of the said Unit and the Car Parking Space with any new buyer or buyers, only thereafter the Developer Promoters shall refund to the Purchaser the xxxxxxx money paid by the Purchaser to the Developer Promoters after deduction of a sum equivalent to 10% (ten percent) of the consideration as and by way of pre-pre- determined compensation/liquidated damages or service charges.. (Common Areas Of the Said Project) (Which Are Part Of the Real EstateProject) 1. Security desk under every block 2. CCTV surveillance