Interest Bearing Maintenance Security (IBMS) Sample Clauses

Interest Bearing Maintenance Security (IBMS). In order to secure adequate provision of the maintenance services and due performance of the Allottee(s) in paying promptly the maintenance bills and other charges as raised by the Maintenance Agency, the Allottee(s) agrees to deposit, as per the schedule of payment given in Annexure III A & III B as applicable and to always keep deposited with the Company / Maintenance Agency IBMS. In case the Allottee(s) fails to pay any maintenance xxxx then (a) the Allottee(s) shall not be entitled to avail any maintenance services (b) and the amount of such maintenance bills shall be first adjusted from the interest accrued upon the IBMS and if the interest on IBMS falls short of the amount of maintenance xxxx then such short fall shall be adjusted out of the principal amount of IBMS. If due to such adjustment in the principal amount, the IBMS falls below the agreed sum Rs. 2153 per sq. mtr. (200/- per sq ft. approx) of the Super Area of the Said Apartment, then the Allottee(s) hereby undertakes to make good the resultant shortfall within fifteen days of the due date of the defaulted maintenance xxxx. The Company reserves the right to increase the IBMS from time to time keeping in view the increase in the cost of maintenance services and the defaults committed by the Allottee(s). The decision of the Company/Maintenance Agency shall be final and binding upon the Allottee(s). The Allottee(s) agrees to pay such increases within fifteen (15) days of written demand by the Company. If the Allottee(s) fails to pay such increase in the IBMS or to make good the shortfall as aforesaid on or before its due date,then the Company may in its sole discretion treat this Agreement as cancelled without any notice to the Allottee(s) and to adjust the shortfall from the sale proceeds of the Said Apartment and to refund to the Allottee(s) the balance of the money realized from such sale after deducting therefrom the entire Xxxxxxx Money and Non Refundable Amounts. It is made specifically clear and it is so agreed by and between the parties hereto that this part of the Agreement relating to IBMS as stipulated in this clause shall survive the conveyance of title in favour of the Allottee(s) and the Company/ Maintenance Agency shall have first charge/lien on the Said Apartment in respect of any non-payment of shortfall/increases as the case may be. The Company shall at its sole discretion have the right to refund / offer to refund in full and final settlement of the IBMS or transfer to the M...
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Related to Interest Bearing Maintenance Security (IBMS)

  • Janitorial Services or Building Maintenance Services If this Agreement is for janitorial or building maintenance services, this section is applicable. If this Agreement requires Contractor to perform Services at a new site, Contractor shall retain for sixty (60) days all employees currently employed at that site by any previous contractor that performed the same services at the site. Contractor shall provide upon request information sufficient to identify employees providing janitorial or building maintenance services at each site and to make the necessary notifications required under Labor Code section 1060 et seq.

  • INTERIM MAINTENANCE PERIOD During the interim maintenance period between obtaining of the completion certificate of Project and formation and operationalization of the Association the Promoter shall through itself or through a facility management company constitute a committee to run, operate, manage and maintain the Common Areas.

  • MAINTENANCE SERVICE 1. Free maintenance services including spares shall be provided by the vendor during the period of warranty. User, at its discretion may ask the vendor to provide maintenance services after warranty period, i.e. Annual maintenance and repairs of the system at the rates indicated by bidder in its proposal and on being asked so, the vendor shall provide the same. The cost of annual maintenance and repairs cost (after warranty period), which will include cost of spares replaced, shall be paid in equal quarterly installments at the end of each quarter.

  • Routine Maintenance Services PM1.03.2-1 Respond immediately to restrict all access to Highway Crossing Infrastructure, as directed by the Province.

  • Maintenance Charges 3.1 The annual service charge for the Maintenance Service is payable annually in advance. Payment for services provided to the Customer in addition to the Maintenance Services is due on presentation of an invoice by the Supplier.

  • Maintenance Fee The Maintenance Fee (SEE SCHEDULE - ACCUMULATION PERIOD) will be deducted during the Accumulation Period from the Account Value on each anniversary of the Account Effective Date and upon withdrawal of the entire Account.

  • Maintenance Period During the Maintenance Period the Developer shall at its own expense maintain repair and otherwise S.9 keep the Works in good working order and repair to the reasonable satisfaction of xxx Xxxxxxxxxx unless xxx Xxxxxxxxxx shall declare that any required maintenance and/or repair is an emergency in which case the Developer shall carry out the said maintenance and/or repair immediately Access to the Works and consequences of inspections The Developer shall arrange for xxx Xxxxxxxxxx to have access to the Works and the Site at all

  • Unscheduled Maintenance Unscheduled maintenance may be required to resolve issues that are critical for Customer and/or performance of the Cloud Services. Druva will use its commercially reasonable efforts to notify Customer at least six (6) hours prior to the unscheduled maintenance.

  • Maintenance Fees All maintenance and similar fees in respect of any Purchased Assets that are due and payable prior to the Closing have been paid in full.

  • Custodial/Maintenance Custodian, Buildings/Grounds Maintenance 20.5 Nutrition Services: Kitchen Manager, Kitchen Assistant ARTICLE IV – LEAVES Leave may only be taken in 30 minute increments. Except for emergency situations, unit members must complete the absence request form which includes obtaining their administrator’s written approval prior to taking leave. In emergency situations, the unit member is required to contact their administrator as far in advance of their scheduled work as possible.

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