Common use of EVENTS OF DEFAULTS AND CONSEQUENCES Clause in Contracts

EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events: i. Promoter fails to provide ready to move in possession of the [Apartment/Plot] to the Allottee within the time period specified in para 7.1 or fails to complete the project within the stipulated time disclosed at the time of registration of the project with the authority. For the purpose of this para ‘ready to move in possession’ shall mean that the apartment shall be in a habitable condition which is complete in all respects including the provision of all specification, amenities and facilities, as agreed to between the parties, and for which occupation certificate and completion certificate, as the case may be, has been issued by the competent authority. ii. Discontinuance of the Promoter’s business as a developer on account of suspension or revocation of his registration under the provision of the Act or the rules or the rules or regulations made thereunder.

EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 9.1. Subject to the Force force Majeure clause, clause the Promoter shall be considered under a condition of Default, in the following events: i. (i) Promoter fails to provide provides ready to move in possession of the [(Apartment/Plot] ) to the Allottee within the time period specified in para 7.1 or fails to complete the project within the stipulated time disclosed at the time of registration regulation of the project with the authorityAuthority. For for the purpose of this para para, ‘ready to move in possession’ possession shall mean that the apartment shall be have in a habitable habitat condition which is complete in all respects including the provision of all specification, amenities and facilities, as agreed to between the parties, parties and for which occupation certificate and completion certificate, as the case may be, has been issued by the competent authority.; (ii. ) Discontinuance of the Promoter’s business as a developer on account of suspension or revocation of his registration under the provision provisions of the Act or the rules or the rules or regulations made thereunderthere under.

EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 Subject to the Force Majeure clause, the Promoter Promoters shall be considered under a condition of Default, in the following events: i. Promoter : (i) Promoters fails to provide ready to move in possession of the [Apartment/Plot] Apartment to the Allottee within the time period specified in para Clause 7.1 or fails to complete the project Said Project within the stipulated time disclosed at the time of registration of the project Project with the authorityAuthority. For the purpose of this para ‘Clause 'ready to move in possession’ ' shall mean that the apartment Said Apartment shall be in a habitable condition which is complete in all respects including the provision of all specification, amenities and facilities, specifications as agreed to between the partiesspecified in Schedule D of this Agreement, and for which occupation certificate and completion certificate, as the case may be, has been issued by the competent authority. ; (ii. ) Discontinuance of the Promoter’s Promoters's business as a developer Promoters on account of suspension or revocation of his registration under the provision provisions of the Act or the rules or the rules or regulations made thereunder.

EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 9.1. Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events: i. (i) Promoter fails to provide ready to move in possession of the [Apartment/Plot] ApartmentFlat to the Allottee within the time period specified in para 7.1 or fails to complete the project within the stipulated time disclosed at the time of registration of the project with the authorityAuthorityh. For the purpose of this para ‘ready to move in possession’ shall mean that the apartment shall be in a habitable condition which is complete in all respects including the provision of all specificationspecifications, amenities and facilities, as agreed to between the parties, and for which occupation certificate and completion certificate, as the case may be, has been issued by the competent authority.; (ii. ) Discontinuance of the Promoter’s business as a developer on account of suspension or revocation of his registration under the provision provisions of the Act or the rules or the rules or regulations made thereunder.

EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events: i. (i) Promoter fails to provide ready to move in possession of the [Apartment/Plot] plot to the Allottee within the time period specified in para 7.1 or fails to complete the project within the stipulated time disclosed at the time of registration of the project with the authorityAuthority. For the purpose of this para ‘para, 'ready to move in possession’ ' shall mean that the apartment shall be in a habitable condition which is complete in all respects including the provision of all specificationspecifications, amenities and facilities, as agreed to between the parties, and for which occupation certificate and completion certificate, as the case may be, has been issued by the competent authority.; (ii. ) Discontinuance of the Promoter’s business as a developer on account of suspension or revocation of his registration under the provision provisions of the Act or the rules or the rules or regulations made thereunder.

EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 9.1. Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events: i. (i) Promoter fails to provide ready to move in possession of the [Apartment/Plot] to the Allottee within the time period specified in para 7.1 or fails to complete the project within the stipulated time disclosed at the time of registration of the project with the authorityAuthority. For the purpose of this para ‘ready to move in possession’ shall mean that the apartment shall be in a habitable condition which is complete in all respects including the provision of all specificationspecifications, amenities and facilities, as agreed to between the parties, and for which occupation certificate and completion certificate, as the case may be, has been issued by the competent authority.; (ii. ) Discontinuance of the Promoter’s business as a developer on account of suspension or revocation of his registration under the provision provisions of the Act or the rules or the rules or regulations made thereunder.

EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 7.1. Subject to the Force Majeure clause, the Promoter PROMOTER shall be considered under a condition of Default, in the following events: i. Promoter (i) PROMOTER fails to provide ready to move in possession of the [Apartment/Plot] UNIT to the Allottee Allottee(s) within the time period specified in para 7.1 or fails to complete the project within the stipulated time disclosed at the time of registration of the project with the authorityAuthority. For the purpose of this para ‘ready to move in possession’ shall mean that the apartment UNIT shall be in a habitable condition which is complete in all respects including the provision of all specificationspecifications, amenities and facilities, as agreed to between the parties, and for which occupation certificate and completion certificateOccupancy Certificate, as the case may be, has been issued by the competent authority.; (ii. ) Discontinuance of the PromoterPROMOTER’s business as a developer PROMOTER on account of suspension or revocation of his registration under the provision provisions of the Act or the rules or the rules or regulations made thereunder.

EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 9.1. Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events: i. i) Promoter fails to provide ready to move in possession of the [Apartment/PlotFlat] to the Allottee within the time period specified in para 7.1 or fails to complete the project Project within the stipulated time disclosed at the time of registration of the project Project with the authorityAuthority. For the purpose of this para ‘clause, 'ready to move in possession’ ' shall mean that the apartment shall be in a habitable condition which is complete in all respects including the provision provisions of all specification, amenities and amenities, facilities, as agreed to between the parties, and for which occupation the computation certificate and completion certificate, certificate as the case may be, has been issued by the competent authorityCompetent Authority. ii. ) Discontinuance of the Promoter’s business as a developer Promoter on account of suspension or revocation of his registration under the provision provisions of the Act or the rules or the rules or regulations made thereunder.

EVENTS OF DEFAULTS AND CONSEQUENCES. 9.1 Subject to the Force Majeure clause, the Sub-Lessor/Promoter shall be considered under a condition of Defaultdefault, in the following events: i. (i) Sub-Lessor/Promoter fails to provide ready to move in possession of the [Apartment/Plot] , to the Sub-Lessee/Allottee within the time period specified in para 7.1 or fails to complete the project Project within the stipulated time disclosed at the time of registration Registration of the project Project with the authorityAuthorities. For the purpose of this para ‘clause, ready to move in possession’ shall mean that the apartment Apartment, shall be in a habitable condition which is complete in all respects including the provision of all specification, amenities and facilities, specifications as agreed to between the parties, and parties and/or for which occupation certificate and completion certificate, as the case may be, Completion /Partial Completion Certificate has been issued by the competent authorityCompetent Authority. (ii. ) Discontinuance of the Promoterpromoter’s business as a developer on account of suspension or revocation of his registration under the provision provisions of the Act or the rules or the rules or regulations made thereunder.