COMMON MAINTENANCE AND CORPUS DEPOSIT Sample Clauses

COMMON MAINTENANCE AND CORPUS DEPOSIT. 11.2.1. The Promoter will undertake maintenance and upkeep of common areas and roads and facilities in the said Building or entrust the same to any Maintenance Company of their choice for a period of 18 (Eighteen) months from the date of completion of the respective building and thereafter entrust the same to the Association of allottees to be formed by the owners of Apartments in said Building in The Allottee shall pay to the Promoter or Maintenance Company or Association of allottees s as the case may be, proportionate sums for maintenance of common areas and facilities in said Building. The Allottee shall also pay to the Promoter or Maintenance Company appointed by the Promoter, proportionate sums for Ad-hoc Maintenance charges for maintenance of common areas and facilities at the Project from the date of possession of the Apartment is ready for which a notice is served on the Allottee or possession is handed over or deemed to have been handed over shall be liable to bear proportionately share and pay for the common expenses/maintenance expenses to the Promoter /the Agency appointed by the Promoter for maintenance of all the common areas and facilities in the said Building. 11.2.2. The Allottee shall also pay amounts as mentioned in Clause 1.2.2 towards Corpus Fund which will be utilized for major repairs or maintenance works in the Project and transfer the unspent sum to the respective association. The said sum will be under the management and control of the Promoter /Association of allottees s aforesaid and their decision in respect of the utilization of the said sum will be final. Any shortfall in funds for the aforesaid purposes shall be made good by the Allottee along with other allottees proportionately. 11.2.3. The Allottee shall permit the Promoter and/or Maintenance Company and/or Association as the case may be, their agents, with or without workmen at all reasonable times to enter into and upon the Said Apartment or any part thereof for the purpose of repairing, maintaining, re-building, cleaning and keeping in order and condition all services, drains, or other conveniences belonging to or servicing or used for the Said Apartment and also for the purpose of laying, maintaining, repairing and testing drainage, water pipes and electric wires and for similar purposes and also for the purpose of cutting off the supply of water and electricity and other facilities etc., to the Said Apartment who have defaulted in paying their share of the water, el...
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COMMON MAINTENANCE AND CORPUS DEPOSIT. 11.2.1 The Promoter will undertake maintenance and upkeep of common areas and roads and facilities in the said Villa Phase 1 C or entrust the same to any Maintenance Company of their choice for a period of 24 (Twenty Four) months from the date of completion of the said Phase 1 C and thereafter entrust the same to the Association of allottees to be formed by the owners of Unit/Villa in the said Phase. The Allottee shall pay to the Promoter or Maintenance Company or Association of allottees as the case may be, proportionate sums for maintenance of common areas and facilities in said Villa Phase 1 C. The Allottee shall also pay to the Promoter or Maintenance Company appointed by the Promoter, proportionate sums for Ad-hoc Maintenance charges for maintenance of common areas and facilities at the Project from the date of possession of the Villa is ready for which a notice is served on the Allottee or possession is handed over or deemed to have been handed over shall be liable to bear proportionately share and pay for the common expenses/maintenance expenses to the Promoter /the Agency appointed by the Promoter for maintenance of all the common areas and facilities in the said VILLA PHASE IC.

Related to COMMON MAINTENANCE AND CORPUS DEPOSIT

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Termination In the event that either Party seeks to terminate this DPA, they may do so by mutual written consent so long as the Service Agreement has lapsed or has been terminated. Either party may terminate this DPA and any service agreement or contract if the other party breaches any terms of this DPA.

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • General The Trustee shall keep proper books of record and account of all the transactions of each Trust under this Indenture at its corporate trust office, including a record of the name and address of, and the Units issued by each Trust and held by, every Unit holder, and such books and records of each Trust shall be open to inspection by any Unit holder of such Trust at all reasonable times during the usual business hours. The Trustee shall make such annual or other reports as may from time to time be required under any applicable state or federal statute or rule or regulations thereunder.

  • Limitation of Liability No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement through no fault of its own then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon. Upon delivering such notice, the obligation of the affected party, so far as it is affected by such Force Majeure as described, shall be suspended during the continuance of the inability then claimed but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. In the event that Vendor’s obligations are suspended by reason of Force Majeure, all TIPS Sales accepted prior to the Force Majeure event shall be the legal responsibility of Vendor and the terms of the TIPS Sale Supplemental Agreement shall control Vendor’s failure to fulfill for a Force Majeure event.

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Term The term of this Agreement will be ten (10) years from the Effective Date (as such term may be extended pursuant to Section 4.2, the “Term”).

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • Definitions As used in this Agreement, the following terms shall have the following meanings:

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