EVENT OF DEFAULTS AND CONSEQUENCES. 10.1 Subject to the Force Majeure clause, the Promoters shall be considered under a condition of Default, in the following events:
EVENT OF DEFAULTS AND CONSEQUENCES. 10.1 Subject to the Force Majeure clause, the Developers shall be considered under a condition of Default, in the following events:
EVENT OF DEFAULTS AND CONSEQUENCES. 9.1 Subject to the Force Majeure clause, the Vendor-Cum-Developer shall be considered under a condition of Default, in the following events:
EVENT OF DEFAULTS AND CONSEQUENCES. Subject to the Force Majeure clause above, if BIPL fails to provide possession of the plot to the Allottee within the time period specified in Clause 5 or fails to complete the project within the stipulated time disclosed at the time of registration of the project with the RERA Authority or in the event of Discontinuance of the business as a developer on account of suspension or revocation of our registration under the provisions of the RERA Act or the rules or regulations made there under. In case of delay due to above mentioned event, Allottee will have the option of terminating the Agreement in which case the BIPL shall be liable to refund the entire money paid by the Allottee towards the purchase of the plot, along with interest specified in Clause 7 within 45 days of receiving the termination notice. Provided that where an Allottee does not intend to withdraw from the project or terminate the Agreement, BIPL agrees to pay the Allottee interest at the rate specified in Clause 7 for every month of delay, till the handing over of the possession of the plot and which shall be paid by BIPL to the allottee within 45 days from the date of handover/physical possession. Allottee agree that the time of payment of installments as per Clauses2 (C), is the essence of this Allotment Cum Acceptance letter and that it is mandatory on your part to comply with the terms of payments and other terms and conditions mentioned herein. You also agree that in particular and without prejudice to the above right and/or any other right available to the BIPL as mentioned herein or in any agreement to sale if executed in future, you shall be bound to pay the above installments within 15 days from the date of written demand raised or intimation given by the BIPL, in failure whereof a monthly interest at the rate specified in Clause 7 shall be levied and on the defaulted balance amount shall also be payable by you, but in no case shall the period for the payment of installments be extended beyond two months from the date of demand/intimation and if you fail to make the payment within the aforesaid period of two months, then in that case, you shall not be left with any right, title or interest on the said Residential Plot mentioned in the schedule hereto. In such a situation the BIPL shall have the entire lien & charge on the said Residential Plot & shall have a right to cancel this Allotment Cum Acceptance letter unilaterally, with prior intimation to you and BIPL will also have rig...
