Common use of Management Fees Deposits and Common Utilities Deposits Clause in Contracts

Management Fees Deposits and Common Utilities Deposits. (i) Each Owner (except the First Owner) shall, in respect of each Unit which he owns, pay to the Manager on the date of completion of the purchase of his Unit from the First Owner the Management Fees Deposit in respect of that Unit as security for the due payment of all Monthly Management Fees and other amounts payable by him under this Deed, unless the First Owner has already paid the Management Fees Deposit of that Unit under Clause 10.11. The Management Fees Deposit shall (subject to Clause 10.6) be non-refundable and shall not be set off by the Owner against Monthly Management Fees or any other amounts payable by him under this Deed. (ii) As at the date of this Deed, if the First Owner has contributed to the Common Utilities Deposits in full and it is contemplated under any sale and purchase agreement of a Unit entered into or to be entered into by a purchaser and the First Owner that the First Owner will be reimbursed a due proportion of the Common Utilities Deposits by that purchaser, such due portion of Common Utilities Deposits (which shall (subject to Clause 10.6) be non-refundable but transferrable)) being in the same proportion that the number of Management Shares allocated to that Unit bears to the total number of Management Shares Provided That: (1) an Owner shall not be required to contribute towards any such deposit payable in respect of any category of Common Parts for the Estimated Management Expenses of which the Owner is not liable to make any contribution under Clause 10.3(d); and (2) a contribution to be made by an Owner towards any such deposit payable in respect of any category of the Common Parts for the Estimated Management Expenses of which the Owner is liable to make a contribution under Clause 10.3(d) shall be in the same proportion that the number of Management Shares allocated to his Unit bears to the total number of Management Shares allocated to such of the Units the respective Owners of which are liable to make a contribution under Clause 10.3(d) towards the Estimated Management Expenses of that category of Common Parts. (b) The Manager shall have the right to set off the Management Fees Deposit paid by an Owner against any sum of whatever nature which is payable by such Owner to the Manager under or in relation to this Deed. Notwithstanding the above, the Manager shall not be obliged to exercise the right of set-off and an Owner shall have no right to require the Manager to exercise the right of set-off, by way of mitigation of loss or otherwise, before pursuing other rights and remedies available to the Manager. (c) If at any time the Management Fees Deposit or the Common Utilities Deposits are disbursed in whole or in part or the amount of the Monthly Management Fees or the water, electricity, gas or other utilities deposit in respect of the Common Parts are increased, each Owner shall on the first day of the next month following demand by the Manager pay to the Manager in addition to the Monthly Management Fees: (i) in the case of the Management Fees Deposit having been disbursed, an additional sum sufficient to replace the sum so disbursed; (ii) in the case of the Common Utilities Deposits having been dis bursed, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the amount so disbursed; (iii) in the case of an increase of Management Fees Deposit following an increase in the Monthly Management Fees, 3 times the amount of such increase (i.e. not more than 25% of any subsequent current year’s Estimated Management Expenses to be contributed in respect of the Unit concerned); or (iv) in the case of an increase in any water, electricity or (if any) gas deposit in respect of the Common Parts, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the increase.

Management Fees Deposits and Common Utilities Deposits. (i) Each Owner (except the First Owner) shall, in respect of each Unit which he ownshas the Right to Occupy, pay to the Manager on the date of completion of the purchase of his Unit from the First Owner the Management Fees Deposit in respect of that Unit as security for the due payment of all Monthly Management Fees and other amounts payable by him under this Deed, unless the First Owner has already paid the Management Fees Deposit of that Unit under Clause 10.11. The Management Fees Deposit shall (subject to Clause 10.6) be non-refundable and shall not be set off by the Owner against Monthly Management Fees or any other amounts payable by him under this Deed. (ii) As at the date of this Deed, if the First Owner has contributed to the Common Utilities Deposits in full and it is contemplated under any sale and purchase agreement of a Unit entered into or to be entered into by a purchaser and the First Owner that the First Owner will be reimbursed a due proportion of the Common Utilities Deposits by that purchaser, such due portion of Common Utilities Deposits (which shall (subject to Clause 10.6) be non-refundable but transferrable)refundable) being in the same proportion that the number of Management Shares allocated to that Unit bears to the total number of Management Shares Provided That: (1) an Owner shall not be required to contribute towards any such deposit payable in respect of any category Category of Common Parts Units for the Estimated Management Expenses of which the Owner is not liable to make any contribution under Clause 10.3(d); and (2) a contribution to be made by an Owner towards any such deposit payable in respect of any category Category of the Common Parts Units for the Estimated Management Expenses of which the Owner is liable to make a contribution under Clause 10.3(d) shall be in the same proportion that the number of Management Shares allocated to his Unit bears to the total number of Management Shares allocated to such Category of the Units the respective Owners of which are liable to make a contribution under Clause 10.3(d) towards the Estimated Management Expenses of that category of Common PartsUnits. (b) The Manager shall have the right to set off the Management Fees Deposit paid by an Owner against any sum of whatever nature which is payable by such Owner to the Manager under or in relation to this Deed. Notwithstanding the above, the Manager shall not be obliged to exercise the right of set-off and an Owner shall have no right to require the Manager to exercise the right of set-off, by way of mitigation of loss or otherwise, before pursuing other rights and remedies available to the Manager. (c) If at any time the Management Fees Deposit or the Common Utilities Deposits are disbursed in whole or in part or the amount of the Monthly Management Fees or the water, electricity, gas or other utilities deposit in respect of the Common Parts are increased, each Owner shall on the first day of the next month following demand by the Manager pay to the Manager in addition to the Monthly Management Fees: (i) in the case of the Management Fees Deposit having been disbursed, an additional sum sufficient to replace the sum so disbursed; (ii) in the case of the Common Utilities Deposits having been dis burseddisbursed, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the amount so disbursed; (iii) in the case of an increase of Management Fees Deposit following an increase in the Monthly Management Fees, 3 times the amount of such increase (i.e. not more than 25% of any subsequent current year’s Estimated in the Monthly Management Expenses to be contributed in respect of the Unit concerned)Fee; or (iv) in the case of an increase in any water, electricity or (if any) gas deposit in respect of the Common Parts, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the increase.

Management Fees Deposits and Common Utilities Deposits. (i) Each Owner (except the First Owner) shall, in respect of each Unit which he ownshas the Right to Occupy, pay to the Manager on the date of completion of the purchase of his Unit from the First Owner the Management Fees Deposit in respect of that Unit as security for the due payment of all Monthly Management Fees and other amounts payable by him under this Deed, unless the First Owner has already paid the Management Fees Deposit of that Unit under Clause 10.11. The Management Fees Deposit shall (subject to Clause 10.6) be non-refundable and shall not be set off by the Owner against Monthly Management Fees or any other amounts payable by him under this Deed. (ii) As at the date of this Deed, if the First Owner has contributed to the Common Utilities Deposits in full and it is contemplated under any sale and purchase agreement of a Unit entered into or to be entered into by a purchaser and the First Owner that the First Owner will be reimbursed a due proportion of the Common Utilities Deposits by that purchaser, such due portion of Common Utilities Deposits (which shall (subject to Clause 10.6) be non-refundable but transferrable)refundable) being in the same proportion that the number of Management Shares allocated to that Unit bears to the total number of Management Shares Provided That: (1) an Owner shall not be required to contribute towards any such deposit payable in respect of any category of Common Parts for the Estimated Management Expenses of which the Owner is not liable to make any contribution under Clause 10.3(d); and (2) a contribution to be made by an Owner towards any such deposit payable in respect of any category of the Common Parts for the Estimated Management Expenses of which the Owner is liable to make a contribution under Clause 10.3(d) shall be in the same proportion that the number of Management Shares allocated to his Unit bears to the total number of Management Shares allocated to such of the Units the respective Owners of which are liable to make a contribution under Clause 10.3(d) towards the Estimated Management Expenses of that category of Common Parts. (b) The Manager shall have the right to set off the Management Fees Deposit paid by an Owner against any sum of whatever nature which is payable by such Owner to the Manager under or in relation to this Deed. Notwithstanding the above, the Manager shall not be obliged to exercise the right of set-off and an Owner shall have no right to require the Manager to exercise the right of set-off, by way of mitigation of loss or otherwise, before pursuing other rights and remedies available to the Manager. (c) If at any time the Management Fees Deposit or the Common Utilities Deposits are disbursed in whole or in part or the amount of the Monthly Management Fees or the water, electricity, gas or other utilities deposit in respect of the Common Parts are increased, each Owner shall on the first day of the next month following demand by the Manager pay to the Manager in addition to the Monthly Management Fees: (i) in the case of the Management Fees Deposit having been disbursed, an additional sum sufficient to replace the sum so disbursed; (ii) in the case of the Common Utilities Deposits having been dis burseddisbursed, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the amount so disbursed; (iii) in the case of an increase of Management Fees Deposit following an increase in the Monthly Management Fees, 3 times the amount of such increase (i.e. not more than 25% of any subsequent current year’s Estimated Management Expenses to be contributed in respect of the Unit concerned)increase; or (iv) in the case of an increase in any water, electricity or (if any) gas deposit in respect of the Common Parts, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the increase.

Management Fees Deposits and Common Utilities Deposits. (i) Each Owner (except the First Owner) shall, in respect of each Unit which he ownshas the Right to Occupy, pay to the Manager on the date of completion of the purchase of his Unit from the First Owner the Management Fees Deposit in respect of that Unit as security for the due payment of all Monthly Management Fees and other amounts payable by him under this Deed, unless the First Owner has already paid the Management Fees Deposit of that Unit under Clause 10.1110.10. The Management Fees Deposit shall (subject to Clause 10.6) be non-refundable but transferrable and shall not be set off by the Owner against Monthly Management Fees or any other amounts payable by him under this Deed. This Clause 10.5(a)(i) shall not prejudice Clause 10.10. (ii) As at the date of this Deed, if the First Owner has contributed to the Common Utilities Deposits in full and it is contemplated under any sale and purchase agreement of a Unit entered into or to be entered into by a purchaser and the First Owner that the First Owner will be reimbursed a due proportion of the Common Utilities Deposits by that purchaser, such due portion of Common Utilities Deposits (which shall (subject to Clause 10.6) be non-refundable but transferrable)) being in the same proportion that the number of Management Shares allocated to that Unit bears to the total number of Management Shares Provided That: (1) an Owner shall not be required to contribute towards any such deposit payable in respect of any category of Common Parts for the Estimated Management Expenses of which the Owner is not liable to make any contribution under Clause 10.3(d); and (2) a contribution to be made by an Owner towards any such deposit payable in respect of any category of the Common Parts for the Estimated Management Expenses of which the Owner is liable to make a contribution under Clause 10.3(d) shall be in the same proportion that the number of Management Shares allocated to his Unit bears to the total number of Management Shares allocated to such of the Units the respective Owners of which are liable to make a contribution under Clause 10.3(d) towards the Estimated Management Expenses of that category of Common Parts. (b) The Manager shall have the right to set off the Management Fees Deposit paid by an Owner against any sum of whatever nature which is payable by such Owner to the Manager under or in relation to this Deed. Notwithstanding the above, the Manager shall not be obliged to exercise the right of set-off and an Owner shall have no right to require the Manager to exercise the right of set-off, by way of mitigation of loss or otherwise, before pursuing other rights and remedies available to the Manager. (c) If at any time the Management Fees Deposit or the Common Utilities Deposits are disbursed in whole or in part or the amount of the Monthly Management Fees or the water, electricity, gas or other utilities deposit in respect of the Common Parts are increased, each Owner shall on the first day of the next month following demand by the Manager pay to the Manager in addition to the Monthly Management Fees: (i) in the case of the Management Fees Deposit having been disbursed, an additional sum sufficient to replace replenish the sum so disbursed; (ii) in the case of the Common Utilities Deposits having been dis burseddisbursed, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the amount so disbursed; (iii) in the case of an increase of Management Fees Deposit following an increase in the Monthly Management Fees, 3 times the amount of such increase in the Monthly Management Fees (i.e. which shall not be more than 25% of any subsequent current year’s Estimated Management Expenses to be contributed in respect of the Unit concerned); or (iv) in the case of an increase in any water, electricity or (if any) gas deposit in respect of the Common Parts, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the increase.

Management Fees Deposits and Common Utilities Deposits. (i) Each Owner (except the First Owner) shall, in respect of each Unit which he ownshas the Right to Occupy, pay to the Manager on the date of completion of the purchase of his Unit from the First Owner the Management Fees Deposit in respect of that Unit as security for the due payment of all Monthly Management Fees and other amounts payable by him under this Deed, unless the First Owner has already paid the Management Fees Deposit of that Unit under Clause 10.11. The Management Fees Deposit shall (subject to Clause 10.6) be non-refundable and shall not be set off by the Owner against Monthly Management Fees or any other amounts payable by him under this Deed. (ii) As at the date of this Deed, if the First Owner has contributed to the Common Utilities Deposits in full and it is contemplated under any sale and purchase agreement of a Unit entered into or to be entered into by a purchaser and the First Owner that the First Owner will be reimbursed a due proportion of the Common Utilities Deposits by that purchaser, such due portion of Common Utilities Deposits (which shall (subject to Clause 10.6) be non-refundable but transferrable)refundable) being in the same proportion that the number of Management Shares allocated to that Unit bears to the total number of Management Shares Provided That: (1) an Owner shall not be required to contribute towards any such deposit payable in respect of any category of Common Parts for the Estimated Management Expenses of which the Owner is not liable to make any contribution under Clause 10.3(d); and (2) a contribution to be made by an Owner towards any such deposit payable in respect of any category of the Common Parts for the Estimated Management Expenses of which the Owner is liable to make a contribution under Clause 10.3(d) shall be in the same proportion that the number of Management Shares allocated to his Unit bears to the total number of Management Shares allocated to such of the Units the respective Owners of which are liable to make a contribution under Clause 10.3(d) towards the Estimated Management Expenses of that category of Common Parts. (b) The Manager shall have the right to set off the Management Fees Deposit paid by an Owner against any sum of whatever nature which is payable by such Owner to the Manager under or in relation to this Deed. Notwithstanding the above, the Manager shall not be obliged to exercise the right of set-off and an Owner shall have no right to require the Manager to exercise the right of set-off, by way of mitigation of loss or otherwise, before pursuing other rights and remedies available to the Manager. (c) If at any time the Management Fees Deposit or the Common Utilities Deposits are disbursed in whole or in part or the amount of the Monthly Management Fees or the water, electricity, gas or other utilities deposit in respect of the Common Parts are increased, each Owner shall on the first day of the next month following demand by the Manager pay to the Manager in addition to the Monthly Management Fees: (i) in the case of the Management Fees Deposit having been disbursed, an additional sum sufficient to replace the sum so disbursed; (ii) in the case of the Common Utilities Deposits having been dis burseddisbursed, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the amount so disbursed; (iii) in the case of an increase of Management Fees Deposit following an increase in the Monthly Management Fees, 3 times the amount of such increase (i.e. and in any event the Management Fees Deposit after such an increase shall not be more than 25% of any subsequent current year’s the amount of Estimated Management Expenses to be contributed in respect of the Unit Financial Year concerned); or (iv) in the case of an increase in any water, electricity or (if any) gas deposit in respect of the Common Parts, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the increase.

Management Fees Deposits and Common Utilities Deposits. (i) Each Owner (except the First Owner) shall, in respect of each Unit which he ownshas the Right to Occupy, pay to the Manager on the date of completion of the purchase of his Unit from the First Owner the Management Fees Deposit in respect of that Unit as security for the due payment of all Monthly Management Fees and other amounts payable by him under this Deed, unless the First Owner has already paid the Management Fees Deposit of that Unit under Clause 10.11. The Management Fees Deposit shall (subject to Clause 10.6) be non-non- refundable and shall not be set off by the Owner against Monthly Management Fees or any other amounts payable by him under this Deed. (ii) As at the date of this Deed, if the First Owner has contributed to the Common Utilities Deposits in full and it is contemplated under any sale and purchase agreement of a Unit entered into or to be entered into by a purchaser and the First Owner that the First Owner will be reimbursed a due proportion of the Common Utilities Deposits by that purchaser, such due portion of Common Utilities Deposits (which shall (subject to Clause 10.6) be non-refundable but transferrable)refundable) being in the same proportion that the number of Management Shares allocated to that Unit bears to the total number of Management Shares Provided That: (1) an Owner shall not be required to contribute towards any such deposit payable in respect of any category of Common Parts for the Estimated Management Expenses of which the Owner is not liable to make any contribution under Clause 10.3(d); and (2) a contribution to be made by an Owner towards any such deposit payable in respect of any category of the Common Parts for the Estimated Management Expenses of which the Owner is liable to make a contribution under Clause 10.3(d) shall be in the same proportion that the number of Management Shares allocated to his Unit bears to the total number of Management Shares allocated to such of the Units the respective Owners of which are liable to make a contribution under Clause 10.3(d) towards the Estimated Management Expenses of that category of Common Parts. (b) The Manager shall have the right to set off the Management Fees Deposit paid by an Owner against any sum of whatever nature which is payable by such Owner to the Manager under or in relation to this Deed. Notwithstanding the above, the Manager shall not be obliged to exercise the right of set-off and an Owner shall have no right to require the Manager to exercise the right of set-set- off, by way of mitigation of loss or otherwise, before pursuing other rights and remedies available to the Manager. (c) If at any time the Management Fees Deposit or the Common Utilities Deposits are disbursed in whole or in part or the amount of the Monthly Management Fees or the water, electricity, gas or other utilities deposit in respect of the Common Parts are increased, each Owner shall on the first day of the next month following demand by the Manager pay to the Manager in addition to the Monthly Management Fees: (i) in the case of the Management Fees Deposit having been disbursed, an additional sum sufficient to replace the sum so disbursed; (ii) in the case of the Common Utilities Deposits having been dis burseddisbursed, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the amount so disbursed; (iii) in the case of an increase of Management Fees Deposit following an increase in the Monthly Management Fees, 3 times the amount of such increase (i.e. not more than 25% of any subsequent current year’s Estimated Management Expenses to be contributed in respect of the Unit concerned)increase; or (iv) in the case of an increase in any water, electricity or (if any) gas deposit in respect of the Common Parts, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the increase.

Management Fees Deposits and Common Utilities Deposits. (ia) Each Subject to Clauses 10.6(b) and (c), upon any person ceasing to be the Owner (except the First Owner) shall, of any Share he shall in respect of each Unit which he owns, pay that Share cease to have any interest in the Management Funds to the Manager on intent that the date of completion Management Funds shall be held and applied for the management of the purchase Land irrespective of his Unit from changes in ownership of the First Owner Shares and the Management Fees Deposit in respect of that Unit as security for the due payment of all Monthly Management Fees and other amounts payable by him under this Deed, unless the First Owner has already paid the Management Fees Deposit of that Unit under Clause 10.11. The Management Fees Deposit shall (subject to Clause 10.6) be non-refundable and shall not be set off by the Owner against Monthly Management Fees or any other amounts payable by him under this Deed. (ii) As at the date of this Deed, if the First Owner has contributed to the Common Utilities Deposits in full and it is contemplated under any sale and purchase agreement of a Unit entered into or to be entered into by a purchaser and the First Owner that the First Owner will be reimbursed a due proportion of the Common Utilities Deposits by that purchaser, such due portion of Common Utilities Deposits in respect of a Unit shall be transferred into the name of the new Owner of the relevant Shares. (which b) Upon the Land reverting to the Government, any balance of the Management Funds shall be divided between the Owners (subject immediately prior to Clause 10.6) be non-refundable but transferrable)) being such reversion in proportion to the same proportion that the number of Management Shares allocated to their respective Units) Provided That: (i) any surplus which is notionally credited to a particular Category of Units under Clause 10.3(g) shall be divided among the then Owners of that Category of Units in proportion to the Management Shares respectively allocated to the Units concerned; (ii) different parts of the Special Fund (or the balance thereof) shall be divided among the then Owners of Units in proportion to the Management Shares respectively allocated to the Units of the category concerned; (iii) Management Fees Deposit and Common Utilities Deposit paid in respect of a Unit bears (or the balance thereof) shall be refunded to the then Owner of the Unit; and (iv) subject to Clause 10.7(b), Debris Removal Charges (or the balance thereof) paid by Owners of the Flats shall be divided among the then Owners of the Flats in proportion to the Management Shares respectively allocated to the Flats. (c) In the case of an extinguishment of rights and obligations under Clause 13, a part of the balance of the Management Funds which is proportionate to the proportion borne by the Management Shares allocated to the Damaged Part (as defined in Clause 13.1) to the total number of Management Shares Provided That: (1) an Owner shall not be required to contribute towards any such deposit payable in respect of any category of Common Parts for divided between the Estimated Management Expenses of which the Owner is not liable to make any contribution Owners whose rights and obligations are extinguished under Clause 10.3(d); and (2) a contribution 13 in proportion to be made by an Owner towards any such deposit payable in respect of any category of the Common Parts for the Estimated Management Expenses of which the Owner is liable to make a contribution under Clause 10.3(d) shall be in the same proportion that the number of Management Shares allocated to his their respective Units comprised in the Damaged Part Provided That the then Owner of each Unit bears in the Damaged Part shall be entitled to the total number of Management Shares allocated payments which he would be entitled under Clauses 10.6(b)(i) to such of the Units the respective Owners of which are liable to make a contribution under Clause 10.3(d) towards the Estimated Management Expenses of that category of Common Parts. (b) The Manager shall have the right to set off the Management Fees Deposit paid by an Owner against any sum of whatever nature which is payable by such Owner to the Manager under or in relation to this Deed. Notwithstanding the above, the Manager shall not be obliged to exercise the right of set-off and an Owner shall have no right to require the Manager to exercise the right of set-off, by way of mitigation of loss or otherwise, before pursuing other rights and remedies available to the Manager. (c) If at any time the Management Fees Deposit or the Common Utilities Deposits are disbursed in whole or in part or the amount of the Monthly Management Fees or the water, electricity, gas or other utilities deposit in respect of the Common Parts are increased, each Owner shall on the first day of the next month following demand by the Manager pay to the Manager in addition to the Monthly Management Fees: (i) in the case of the Management Fees Deposit having been disbursed, an additional sum sufficient to replace the sum so disbursed; (ii) in the case of the Common Utilities Deposits having been dis bursed, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the amount so disbursed; (iii) in the case of an increase of Management Fees Deposit following an increase in the Monthly Management Fees, 3 times the amount of such increase (i.e. not more than 25% of any subsequent current year’s Estimated Management Expenses to be contributed in respect of the Unit concerned); or (iv) in upon the case of an increase in any water, electricity or (if any) gas deposit in respect of Land reverting to the Common Parts, a due proportion (ascertained according to Clause 10.5(a)(ii)(2)) of the increaseGovernment.