MAINTENANCE & OTHER SECURITY DEPOSITS Sample Clauses

MAINTENANCE & OTHER SECURITY DEPOSITS. (i) The Allottee, on or before possession, shall deposit and amount equivalent to 2 year’s maintenance charges (the “MAINTENANCE SECURITY DEPOSIT”) which amount will be a part of the Total Price of the Apartment as mentioned in Annexure- “ ” hereto. The Promoter reserves the right to utilize this deposit to adjust any recoverable dues from the Allottee. The deposit after adjustment/ recovery of dues will be transferred/ handed over by the Promoter (without interest) to the Association at the time of handing over the maintenance and management of the Luxury Zone.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
MAINTENANCE & OTHER SECURITY DEPOSITS. (i) The Allottee, on or before possession, shall deposit and amount equivalent to 2 year’s maintenance charges (the “Maintenance Security Deposit”). The Promoter reserves the right to utilize this deposit to adjust any recoverable dues from the Allottee. The deposit after adjustment/ recovery of dues will be transferred/ handed over by the Promoter (without interest) to the Association at the time of handing over the maintenance and management of the Project. The Maintenance Security Deposit will be part of the Total Price.
Sample 1Sample 2
MAINTENANCE & OTHER SECURITY DEPOSITS. (i) The Allottee, on or before possession, shall deposit and amount equivalent to 2 year’s maintenance charges @ Rs. per sqft per month of the Carpet Area of the Apartment (the “MAINTENANCE SECURITY DEPOSIT”). The Promoter reserves the right to utilize this deposit to adjust any recoverable dues from the Allottee. The deposit after adjustment/ recovery of dues will be transferred/ handed over by the Promoter (without interest) to the Association at the time of handing over the maintenance and management of the Luxury Zone. The Maintenance Security Deposit will be part of the Total Price.
Sample 1
MAINTENANCE & OTHER SECURITY DEPOSITS. (i) The Purchaser, on or before possession, has deposited an amount equivalent to 2 year‟s maintenance charges (the “MAINTENANCE SECURITY DEPOSIT”).. The Promoter reserves the right to utilize this deposit to adjust any recoverable dues from the Purchaser. The deposit after adjustment/ recovery of dues will be transferred/ handed over by the Promoter (without interest) to the Association at the time of handing over the maintenance and management of the Project. (ii) Electricity Supply/DG Back-up: The Purchaser has obtained electricity meter with respect to his Apartments from CESC. The Purchaser shall pay the electricity bills pertaining to his Apartment directly to CESC.
Sample 1

Related to MAINTENANCE & OTHER SECURITY DEPOSITS

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one)

  • Security Deposit (a) Tenant shall deposit with Landlord the Security Deposit set forth at Section 2(h) above, within five (5) business days of the full execution of this Lease, as security for Tenant’s faithful performance of its obligations under this Lease. If the Base Rent shall increase during the initial term of this Lease or during any extensions or renewals thereof, Tenant shall at the time of such increase, deposit with Landlord funds as an additional Security Deposit so that the total amount of the Security Deposit held by Landlord shall at all times be equal to the then current Base Rent. Landlord and Tenant agree that the Security Deposit may be commingled with funds of Landlord and Landlord shall have no obligation or liability for payment of interest on such deposit. Tenant shall not mortgage, assign, transfer or encumber the Security Deposit without the prior written consent of Landlord and any attempt by Tenant to do so shall be void, without force or effect and shall not be binding upon Landlord. (b) If Tenant fails to pay any Rent or other amount when due and payable under this Lease, or fails to perform any of the terms hereof, Landlord may appropriate and apply or use all or any portion of the Security Deposit for Rent payments or any other amount then due and unpaid, for payment of any amount for which Landlord has become obligated as a result of Tenant’s default or breach, and for any loss or damage sustained by Landlord as a result of Tenant’s default or breach, and Landlord may so apply or use the Security Deposit without prejudice to any other remedy Landlord may have by reason of Tenant’s default or breach. If Landlord so uses any of the Security Deposit, Tenant shall, within ten (10) days after written demand therefor, restore the Security Deposit to the full amount previously deposited; Tenant’s failure to do so shall constitute an act of default hereunder and Landlord shall have the right to exercise any remedy provided for at Section 27 hereof. Within thirty (30) days after the Term (or any extension thereof) has expired or Tenant has vacated the Premises, whichever shall last occur, and provided Tenant is not then in default on any of its obligations hereunder, Landlord shall return the Security Deposit to Tenant, or, if Tenant has assigned its interest under this Lease, to the last assignee of Tenant. If Landlord sells its interest in the Premises, Landlord may deliver the Security Deposit to the purchaser of Landlord’s interest and thereupon be relieved of any further liability or obligation with respect to the Security Deposit.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!