Common use of Charge/Lien Clause in Contracts

Charge/Lien. The Owner/Developer shall have first charge and/or lien over the said Apartment for all amounts due and payable by the Allottee to the Owners/Developer provided however, if the said Apartment is purchased with assistance of a financial institution, then such charge / lien of the Owners/Developer shall stand extinguished on the financial institution provided all dues payable to the Owners/Developer are cleared by the Allottee and/or such financial institution.

Charge/Lien. The Owner/Developer Vendor shall have first charge and/or lien over the said Apartment for all amounts due and payable by the Allottee to the OwnersOwner/Developer Vendor provided however, if the said Apartment is purchased with assistance of a financial institution, then such charge / lien of the OwnersOwner/Developer Vendor shall stand extinguished on the financial institution provided all dues payable to the OwnersOwner/Developer Vendor are cleared by the Allottee and/or such financial institution.

Charge/Lien. The Owner/Developer Owner shall have first charge and/or lien over the said Apartment for all amounts due and payable by the Allottee to the Owners/Developer Owner provided however, if the said Apartment is purchased with assistance of a financial institution, then such charge / lien of the Owners/Developer Owner shall stand extinguished on the financial institution provided all dues payable to the Owners/Developer Owner are cleared by the Allottee and/or such financial institution.