Common use of Maintenance Security Deposit Clause in Contracts

Maintenance Security Deposit. An interest free corpus deposit calculated at the rate of Rs /- (Rupees only) per square feet of the Bungalow carpet area (“Maintenance Security Deposit”) for the Bungalow shall be paid by the Allottee to the Promoter, on or before a date to be notified by the Promoter which date shall not be a date later than the Possession Date. The amount of such Maintenance Security Deposit payable shall be intimated by the Promoter on or before possession date. The Maintenance Security Deposit shall be used by the Promoter /Association for repair of the Complex or equipments provided therein. Notwithstanding the above, the Promoter reserves the right to utilize this deposit to adjust any realizable dues from the Allottee. The unused portion of the Maintenance Security Deposit shall be transferred to the Association without interest when incorporated.

Maintenance Security Deposit. An interest free corpus deposit calculated at the rate of Rs /- Rs. …./- (Rupees only) per square feet of the Bungalow Apartment carpet area (“Maintenance Security Deposit”) for the Bungalow Apartment shall be paid by the Allottee to the Promoter, on or before a date to be notified by the Promoter which date shall not be a date later than the Possession Date. The amount of such Maintenance Security Deposit payable shall be intimated by the Promoter on or before possession date. The Maintenance Security Deposit shall be used by the Promoter /Association for repair of the Complex or equipments provided therein. Notwithstanding the above, the Promoter reserves the right to utilize this deposit to adjust any realizable dues from the Allottee. The unused portion of the Maintenance Security Deposit shall be transferred to the Association without interest when incorporated.

Maintenance Security Deposit. An interest free corpus deposit calculated at the rate of Rs /- 59/- (Rupees onlyFifty Nine) per square feet of the Bungalow carpet area Apartment Carpet Area (“Maintenance Security Deposit”) for the Bungalow Apartment shall be paid by the Allottee to the Promoter, on or before a date to be notified by the Promoter which date shall not be a date later than the Possession Date. The amount of such Maintenance Security Deposit payable shall be intimated by the Promoter on or before possession date. The Maintenance Security Deposit shall be used by the Promoter /Association for repair of the Complex or equipments provided therein. Notwithstanding the above, the Promoter reserves the right to utilize this deposit to adjust any realizable dues from the Allottee. The unused portion of the Maintenance Security Deposit shall be transferred to the Association without interest when incorporated.