Common use of DELAY/DEFAULT IN PAYMENT Clause in Contracts

DELAY/DEFAULT IN PAYMENT. a. The Allottee/s shall make the payments as per the Payment Schedule mentioned Schedule D hereto. In case the payments are not received as per the payment schedule, without prejudice to the Promoter’s other rights under this Agreement and/or under law, the Allottee/s shall be liable to pay interest at the applicable rate as per prevailing law on all the amounts due and payable by the Allottee/s under this Agreement and shall also not be eligible for any discounted rate offered at the time of booking. All Cheque payments shall be subject to realization. b. If more than two instalments remain unpaid, the Promoter shall be entitled to terminate this Agreement and dispose of the Schedule B Property to any person/s of its choice and forfeit the entire Booking Amount as well as the statutory dues already paid to the exchequer and refund the balance sums within such days as are prescribed under the prevailing law from the date of execution of the cancellation agreement without any interest thereon. If the advance amounts paid is less than Booking Amount, then the Promoter shall be entitled to forfeit the entire amounts paid by the Allottee/s. c. Upon termination, the Allottee/s shall cease to have any claims over the Schedule B Property. It is agreed that any notice to be served on the Allottee/s as contemplated under this Agreement shall be deemed to have been duly served after being sent to the Allottee/s under certificate of posting/registered Post acknowledgment due/ courier, at the address given above.

DELAY/DEFAULT IN PAYMENT. a. a) The Allottee/s Borrower shall make pay in full the payments PEMII, EMI and all other amounts without any demur, protest or default and without claiming any set-off or counter claim on the respective Due Dates. No notice, reminder or intimation shall be given to the Borrower regarding his obligation and responsibility to ensure prompt and regular payment of interest, PEMII, EMI and all other amounts payable by the Borrower to the Lender on the respective Due Dates. b) On the happening of any Events of Default as set out in Article 7 of this Agreement such defaulted amount shall carry Default Interest at the rate of interest as mentioned in the Schedule hereto, computed from the respective due dates and shall be compounded on monthly basis. c) Without prejudice to the Lender's other rights, the delay in payment of EMI or PEMII by the Borrower, shall render the Borrower liable to pay additional Interest at the rate mentioned in the Schedule attached hereto (“Additional Interest”) or at such higher rate as per the Payment rules of the Lender in that behalf as in force from time to time and communicated to the Borrower by the Lender in writing. Such additional interest shall be charged/debited to the Borrower's Loan account on the respective Due Dates and shall be deemed to form part of the outstanding Loan. Such interest and other amounts shall accordingly attract Interest at the same rate as applicable to the Loan and as stated in Schedule mentioned Schedule D attached hereto. In case the payments are not received as per the payment schedule, without prejudice to the Promoter’s other rights under this Agreement and/or under lawsuch event, the Allottee/s Borrower shall also be liable to pay interest at the applicable rate as per prevailing law on all the amounts due incidental charges and payable by the Allottee/s under this Agreement and shall also not be eligible for any discounted rate offered at the time of booking. All Cheque payments shall be subject to realization. b. If more than two instalments remain unpaid, the Promoter shall be entitled to terminate this Agreement and dispose of the Schedule B Property to any person/s of its choice and forfeit the entire Booking Amount as well as the statutory dues already paid costs to the exchequer and refund the balance sums within such days as are prescribed under the prevailing law from the date of execution of the cancellation agreement without any interest thereon. If the advance amounts paid is less than Booking Amount, then the Promoter shall be entitled to forfeit the entire amounts paid by the Allottee/s. c. Upon termination, the Allottee/s shall cease to have any claims over the Schedule B Property. It is agreed that any notice to be served on the Allottee/s as contemplated under this Agreement shall be deemed to have been duly served after being sent to the Allottee/s under certificate of posting/registered Post acknowledgment due/ courier, at the address given aboveLender.

DELAY/DEFAULT IN PAYMENT. a. a) The Allottee/s Borrower shall make pay in full the payments Borrower's Dues including, without limitation, the PEMII, EMI and all other amounts without any demur, protest or default and without claiming any set-off or counterclaim on the respective Due Dates. No notice, reminder or intimation shall be given to the Borrower regarding his obligation for effecting payment on the Due Dates and it shall be the Borrower's sole responsibility to ensure prompt and regular payment of Borrower's Dues and all other amounts payable by the Borrower to the Lender on the respective Due Dates. b) On the happening of any Events of Default as set out in Article7 of this Agreement the outstanding amounts shall carry Extra Interest at the rate of interest as mentioned in serial number B (v) of the Schedule hereto, computed from the respective Due Dates and shall be compounded on monthly basis. c) Without prejudice to the Lender's other rights, the delay in payment of EMI or PEMII by the Borrower, shall render the Borrower liable to pay additional Interest at the rate mentioned in serial number B (iv) of the Schedule attached hereto (“Additional Interest”) or at such higher rate as per the Payment Schedule mentioned Schedule D heretorules of the Lender in that behalf as in force from time to time and communicated to the Borrower by the Lender in writing which revised rate shall be effective prospectively over and above the applicable rate of interest, computed from the respective Due Dates and shall be compounded at monthly rests. Such further interest shall be in addition to any other charges, which the Borrower is liable to pay to RCFL in terms of these presents. The Additional Interest shall be in addition to the Further Interest and shall be payable on demand and in the absence of any such demand on the next Due Date occurring after the date of such default. In case such event, the payments are not received as per Borrower shall also be liable to pay incidental charges, costs and Taxes to the Lender. d) The levy and payment scheduleby the Borrower of Additional Interest, Extra Interest or any other amounts shall be without prejudice to the Promoter’s Lender's other rights hereunder and under this Agreement and/or under lawApplicable Law in respect of such default including, without limitation, the Allottee/s shall be liable Lender's right to pay interest at declare an Event of Default and the applicable rate as per prevailing law on all the amounts due and payable by the Allottee/s under this Agreement and shall also not be eligible for any discounted rate offered at the time of booking. All Cheque payments shall be subject to realization. b. If more than two instalments remain unpaid, the Promoter shall be entitled to terminate this Agreement and dispose enforcement of the Schedule B Property rights available to any person/s of its choice and forfeit the entire Booking Amount as well as the statutory dues already paid to the exchequer and refund the balance sums within such days as are prescribed under the prevailing law from the date of execution of the cancellation agreement without any interest thereon. If the advance amounts paid is less than Booking Amount, then the Promoter shall be entitled to forfeit the entire amounts paid by the Allottee/s. c. Upon termination, the Allottee/s shall cease to have any claims over the Schedule B Property. It is agreed that any notice to be served it on the Allottee/s as contemplated under this Agreement shall be deemed to have been duly served after being sent to the Allottee/s under certificate occurrence of posting/registered Post acknowledgment due/ courier, at the address given abovean Event of Default.

DELAY/DEFAULT IN PAYMENT. a. The Allottee/s a) No notice, reminder or intimation shall make be given to the payments Borrower regarding his obligation and responsibility to ensure prompt and regular payment of interest, PMII, Monthly Installment and all other amounts payable by the Borrower to the Lender on the respective due dates. b) Without prejudice to the Lender's other rights, delay in payment of Monthly Installment or PMII shall render the Borrower liable to pay Additional Interest at the rate mentioned in the Schedule hereto or at such higher rate as per the Payment Schedule mentioned Schedule D heretorules of the Lender in that behalf as in force from time to time. In case such event, the payments are not received as per Borrower shall also be liable to pay incidental charges and costs to the Lender. c) Notwithstanding anything contained in these presents or the Transaction Documents, and irrespective of the mode of payment scheduleselected by the Borrower in the Application Form, upon any default by the Borrower in payment of one or more Installment on the Due Date pertaining to the Loan or any non- realization of the of the installment on the Due Date by RCL, RCL shall be entitled, without prejudice to the Promoter’s its other rights under this Agreement the Loan terms, to present and/or re-present the post dated Cheque issued by the Borrower in favor of RCL in connection with the Loan Irrespective of mode of payment/repayment selected by the Borrower in the Application Form, RCL shall, as it may deem appropriate and necessary, be entitled to require the payment and/or collection of the Installment and all other amounts comprising the Borrower`s dues as expressed in the Application Form, or other Post Dated Cheque, if any, submitted by the Borrower,or by means of ECS, by itself or through such other person permitted for the same, instead of and in lieu of presenting/re-presenting such PDC, if any, issued by the Borrower in favour of RCL or utilizing any other mode or manner of Payment or re payment of the Installments and all other amounts comprising the Borrower`s dues, provided that such right of RCL shall be without prejudice to its other rights under lawthe Loan terms , in case of any failure to receive the Installments or any other amounts due, through the ECS (debit) for any reason whatsoever. d) if the Borrower defaults in making payment of any installments or any other amounts comprising the Borrower's Dues to RCL on the respective the Due Date(s), the Allottee/s Borrower shall be liable to pay additional interest at the rate specified in the Application Form (plus applicable rate as per prevailing law interest Tax or other statutory levy) on all such Outstanding /unpaid amounts from the amounts due and payable by the Allottee/s under this Agreement and shall also not be eligible for any discounted rate offered at the time of booking. All Cheque payments shall be subject to realization. b. If more than two instalments remain unpaid, the Promoter shall be entitled to terminate this Agreement and dispose of the Schedule B Property to any person/s of its choice and forfeit the entire Booking Amount as well as the statutory dues already paid to the exchequer and refund the balance sums within such days as are prescribed under the prevailing law from relevant Due Date till the date of execution payment of the cancellation agreement without any such entire amount. Such further interest thereon. If the advance amounts paid is less than Booking Amount, then the Promoter shall be entitled in addition to forfeit any other charges, which the entire amounts paid by the Allottee/s. c. Upon termination, the Allottee/s shall cease Borrower is liable to have any claims over the Schedule B Property. It is agreed that any notice pay to be served on the Allottee/s as contemplated under this Agreement shall be deemed to have been duly served after being sent to the Allottee/s under certificate RCL in terms of posting/registered Post acknowledgment due/ courier, at the address given abovethese presents.

DELAY/DEFAULT IN PAYMENT. a. The Allottee/s Borrower shall make pay in full the payments PEMII, EMI and all other amounts without any demur, protest or default and without claiming any set-off or counter claim on the respective Due Dates. No notice, reminder or intimation shall be given to the Borrower regarding his obligation and responsibility to ensure prompt and regular payment of Interest, PEMII, EMI and all other amounts payable by the Borrower to the Bank on the respective Due Dates. b. On the happening of any Events of Default as set out in Article 7 of this Agreement such defaulted amount shall carry Default Interest at the rate of Interest as mentioned in the Schedule II , computed from the respective due dates and shall be compounded on monthly basis. c. Without prejudice to the Bank's other rights, the delay in payment of EMI or PEMII by the Borrower, shall render the Borrower liable to pay additional Interest at the rate mentioned in the Schedule II (“Additional Interest”) or at such higher rate as per the Payment rules of the Bank in that behalf as in force from time to time and communicated to the Borrower by the Bank in writing. Such Additional Interest shall be charged/debited to the Borrower's Loan account on the respective Due Dates and shall be deemed to form part of the outstanding Loan. Such Interest and other amounts shall accordingly attract Interest at the same rate as applicable to the Loan and as stated in Schedule mentioned Schedule D heretoII. In case the payments are not received as per the payment schedule, without prejudice to the Promoter’s other rights under this Agreement and/or under lawsuch event, the Allottee/s Borrower shall also be liable to pay interest at the applicable rate as per prevailing law on all the amounts due incidental charges and payable by the Allottee/s under this Agreement and shall also not be eligible for any discounted rate offered at the time of booking. All Cheque payments shall be subject to realization. b. If more than two instalments remain unpaid, the Promoter shall be entitled to terminate this Agreement and dispose of the Schedule B Property to any person/s of its choice and forfeit the entire Booking Amount as well as the statutory dues already paid costs to the exchequer and refund the balance sums within such days as are prescribed under the prevailing law from the date of execution of the cancellation agreement without any interest thereon. If the advance amounts paid is less than Booking Amount, then the Promoter shall be entitled to forfeit the entire amounts paid by the Allottee/s. c. Upon termination, the Allottee/s shall cease to have any claims over the Schedule B Property. It is agreed that any notice to be served on the Allottee/s as contemplated under this Agreement shall be deemed to have been duly served after being sent to the Allottee/s under certificate of posting/registered Post acknowledgment due/ courier, at the address given aboveBank.

DELAY/DEFAULT IN PAYMENT. a. The Allottee/s a) No notice, reminder or intimation shall make be given to the payments Borrower regarding his obligation and responsibility to ensure prompt and regular payment of interest, PMII, Monthly Installment and all other amounts payable by the Borrower to the Lender on the respective Due Dates. b) Without prejudice to the Lender's other rights delay in payment of Monthly Installment or PMII shall render the Borrower liable to pay Additional Interest at the rate mentioned in the schedule hereto or at such higher rate as per the Payment Schedule mentioned Schedule D heretorules of the Lender in that behalf as in force from time to time. In case such event, the payments are not received as per Borrower shall also be liable to pay incidental charges and costs to the Lender. c) Notwithstanding anything contained in these presents or the Transaction Documents, and irrespective of the mode of payment scheduleselected by the Borrower in the Application Form, upon any default by the Borrower in payment of one or more Installment on the Due Date pertaining to the Loan or any non- realization of the of the installment on the Due Date by RCFL, RCFL shall be entitled, without prejudice to the Promoter’s its other rights under this Agreement the Loan terms, to present and/or re-present the post dated Cheque issued by the Borrower in favour of RCFL in connection with the Loan. Irrespective of mode of payment/repayment selected by the Borrower in the Application Form, RCFL shall, as it may deem appropriate and necessary, be entitled to require the payment and/or collection of the Installment and all other amounts comprising the Borrower's dues as expressed in the Application Form, or other Post Dated Cheque, if any, submitted by the Borrower by means of ECS, by itself or through such other person permitted for the same, instead of and in lieu of presenting / re-presenting such PDC, if any, issued by the Borrower in favour of RCFL or utilizing any other mode or manner of Payment or re-payment of the Installments and all other amounts comprising the Borrower`s dues, provided that such right of RCFL shall be without prejudice to its other rights under lawthe Loan terms, in case of any failure to receive the Installments or any other amounts due, through the ECS (debit) for any reason whatsoever. d) If the Borrower defaults in making payment of any Installments or any other amounts comprising the Borrower's Dues to RCFL on the respective the Due Date(s), the Allottee/s Borrower shall be liable to pay additional interest at the rate specified in the Application Form (plus applicable rate as per prevailing law interest Tax or other statutory levy) on all such Outstanding /unpaid amounts from the amounts due and payable by the Allottee/s under this Agreement and shall also not be eligible for any discounted rate offered at the time of booking. All Cheque payments shall be subject to realization. b. If more than two instalments remain unpaid, the Promoter shall be entitled to terminate this Agreement and dispose of the Schedule B Property to any person/s of its choice and forfeit the entire Booking Amount as well as the statutory dues already paid to the exchequer and refund the balance sums within such days as are prescribed under the prevailing law from relevant Due Date till the date of execution payment of the cancellation agreement without any such entire amount. Such further interest thereon. If the advance amounts paid is less than Booking Amount, then the Promoter shall be entitled in addition to forfeit any other charges, which the entire amounts paid by the Allottee/s. c. Upon termination, the Allottee/s shall cease Borrower is liable to have any claims over the Schedule B Property. It is agreed that any notice pay to be served on the Allottee/s as contemplated under this Agreement shall be deemed to have been duly served after being sent to the Allottee/s under certificate RCFL in terms of posting/registered Post acknowledgment due/ courier, at the address given abovethese presents.

DELAY/DEFAULT IN PAYMENT. a. a) The Allottee/s Borrower shall make pay in full the payments PEMII, EMI and all other amounts without any demur, protest or default and without claiming any set-off or counter claim on the respective Due Dates. No notice, reminder or intimation shall be given to the Borrower regarding his obligation and responsibility to ensure prompt and regular payment of PEMII, EMI and all other amounts payable by the Borrower to the Bank on the respective Due Dates. b) On the happening of any Events of Default as set out in Clause 9 of this Agreement such defaulted amount shall carry Default Interest. c) Without prejudice to the Bank’s other rights, the delay in payment of EMI or PEMII by the Borrower, shall render the Borrower liable to pay Additional Interest or at such higher rate as per the Payment rules of the Bank in that behalf as in force from time to time and communicated to the Borrower by the Bank in writing. Such Additional Interest shall be charged / debited to the Account on the respective Due Dates and shall be deemed to form part of the Borrower’s Dues. Such interest and other amounts shall accordingly attract Interest at the same rate as applicable to the Facility and as stated in Schedule mentioned Schedule D attached hereto. In case the payments are not received as per the payment schedule, without prejudice to the Promoter’s other rights under this Agreement and/or under lawsuch event, the Allottee/s Borrower shall also be liable to pay interest at incidental charges and costs to the applicable rate as per prevailing law on all the amounts due and payable by the Allottee/s under this Agreement and shall also not be eligible for any discounted rate offered at the time of booking. All Cheque payments shall be subject to realizationBank. b. If more than two instalments remain unpaid, x) Xxxxxxxx agrees to pay Default Interest for delay or non submission of prescribed returns/ financials as stipulated in the Promoter shall be entitled to terminate this Agreement and dispose of the Schedule B Property to any person/s of its choice and forfeit the entire Booking Amount as well as the statutory dues already paid to the exchequer and refund the balance sums within such days as are prescribed under the prevailing law from the date of execution of the cancellation agreement without any interest thereon. If the advance amounts paid is less than Booking Amount, then the Promoter shall be entitled to forfeit the entire amounts paid by the Allottee/s. c. Upon termination, the Allottee/s shall cease to have any claims over the Schedule B Property. It is agreed that any notice to be served on the Allottee/s as contemplated under this Agreement shall be deemed to have been duly served after being sent to the Allottee/s under certificate of posting/registered Post acknowledgment due/ courier, at the address given aboveSanction Letter.