Common use of Developer’s right to raise finance Clause in Contracts

Developer’s right to raise finance. The Buyer shall have no objection, before the execution of the Transfer Deed, against the Developer raising finance or loan from any financial institution by way of mortgage or charge or securitization of receivables or in any other mode or manner the property of Complex subject to the condition that the Apartment shall be free from all encumbrances before the execution of the Transfer Deed. The Developer may raise finance/loan on any unsold apartment from any financial institution/bank by way of mortgage or charge or securitization of receivables or in any other mode or manner. However, the Developer or bank or financial institution shall have no right or lien over the sold apartments or the Complex.