Failure to deliver possession due to non-approval of Building/Sectoral/Other Plans Sample Clauses

Failure to deliver possession due to non-approval of Building/Sectoral/Other Plans. The Allottee has applied for the allotment of the said Apartment with the specific knowledge that the building plans for the said Complex/ said Buildings are yet to be approved by the competent authority(ies). The Allottee confirms that he/ she has authorized the Company to treat this Apartment Buyer's Agreement executed by him/ her as cancelled in the event the Building / other plans are not approved by office of Director General, Town & Country Planning, Haryana, Chandigarh within twelve (12) months from the date of his/ her application or if after the building plans are approved, the Company is not in a position to implement the said Building plans for any reason within a period of one year from the date of his/ her application or if the Company abandons the project and the Allottee confirms that he/ she has given irrevocable authority to the Company that upon such cancellation/ abandonment and subject to Allottee not being in default under this Agreement and to refund by registered post, all amounts received from him/ her together (except for interest for delayed payments and other non-refundable sums) with simple interest thereon @ 8% p.a. calculated for the period for which such monies have been lying with the Company and upon dispatch of such refund by registered post, the Allottee agrees that he/ she shall not have further rights, claims etc. against the Company and that the Company shall be released and discharged from all its obligations and liabilities under this Agreement.
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