Common use of DEEMED POSSESSION Clause in Contracts

DEEMED POSSESSION. It is understood by the Allottee/Transferee that even if the Allottee/Transferee fails to take possession of the Bungalow within the Possession Period, the Allottee/Transferee shall be deemed to have taken possession on the 61stday from the date of Possession Notice which date, for all purposes and irrespective of the actual date when the Allottee/Transferee takes physical possession of the Bungalow, will be deemed to be the Possession Date.

DEEMED POSSESSION. It is understood by the Allottee/Transferee that even if the Allottee/Transferee fails to take possession of the Bungalow Apartment within the Possession Period, the Allottee/Transferee shall be deemed to have taken possession on the 61stday from the date of Possession Notice which date, for all purposes and irrespective of the actual date when the Allottee/Transferee takes physical possession of the BungalowApartment, will be deemed to be the Possession Date.