Common use of MANDATORY OBLIGATIONS OF THE PARTIES Clause in Contracts

MANDATORY OBLIGATIONS OF THE PARTIES. No provision of this Agreement to sell shall be deemed to constitute a partnership or joint venture between the Parties No provision of this Agreement to sell shall constitute either Party as the legal Representative or agent of the other, nor shall either Party have the right or authority to assume, create or incur any liability or any obligation of any kind, express or implied, against, or in the name of, or on behalf of the other Party except as may be required for the purpose of execution of this agreement. Neither this Agreement to sell nor the rights or obligations hereunder shall be assigned or delegated, in whole or in part to any other third party or entity without the prior written consent thereto of the other Party. However, the Buyers shall at its discretion be entitled to call upon the Seller to execute the sale deed in respect of the said property in favour of any of its affiliates or nominees. However the parties affirm that the mutual rights and obligation under this agreement shall at all times remain that of the parties to this agreement. The failure of any Party to enforce, in any one or more instances, performance of any of the terms, covenants or conditions of this Agreement to sell shall not be construed as a waiver or a relinquishment of any right or claim granted or arising hereunder or of the future performance of any such term, covenant, or condition, and such failure shall in no way affect the validity of this Agreement to sell or the rights and obligations of the Parties hereto. The Parties acknowledge that a waiver of any term or provision hereof may only be given by a written instrument executed by any Party hereto. This Agreement to sell may be executed in two counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same instrument. It is agreed by the Seller and the Buyer that the Buyer shall get this Agreement registered with the Competent Authority as required under the Act, if required by law. The Buyer shall also bear all the cost of the Stamp Duty, Registration fee, Advocates fees and all miscellaneous expenses that may be incurred for such purposes. REPRESENTATIONS AND WARRANTIES Each party hereby represents and warrants to that: Each party has all required capacity and corporate authorization to enter into this Agreement and be bound by the obligations provided hereunder;

MANDATORY OBLIGATIONS OF THE PARTIES. No provision of this Agreement to sell Nothing contained in these presents shall be deemed construed to constitute a partnership confer upon the Buyer any right, title or joint venture between interest of any kind whatsoever in to or over the Parties No provision said land of this Agreement building or any part thereof, such conferment to sell shall constitute either Party as take place only upon the legal Representative or agent execution of the other, nor shall either Party have conveyance to a Limited Company or a Co-operative Housing Society to be formed by the right or authority to assume, create or incur any liability or any obligation Buyers of any kind, express or implied, against, or different flats in the name of, said building as hereinafter stated. Until the building is transferred to the proposed Co-operative Housing Society or on behalf of Limited Company the other Party except Sellers shall have a right to raise storeys or put up additional structures as may be required for permitted by the purpose of execution of this agreementmunicipal corporation and other competent authorities. Neither this Agreement to sell nor Such additional structures and storeys will be the rights or obligations hereunder shall be assigned or delegated, in whole or in part to any other third party or entity without the prior written consent thereto sole property of the other Party. However, the Buyers shall at its discretion Sellers who will be entitled to call upon dispose it off in any way they choose, and the Seller Buyer hereby consents to execute the sale deed same and shall not be entitled to raise any objection or set up any obstruction thereto. The terrace of the building including the parapet wall shall always be the property of the Sellers and the agreement with the Buyers and all other purchasers of Flat in respect the said building shall be subject to the aforesaid right of the Sellers who shall be entitled to use the said terrace including the parapet wall for any purpose including the display of advertisements and sign-boards and the Buyer shall not be entitled to raise any objection or to claim any abatement in the price of the tenement agreed to be acquired by him and/or any compensation or damages on the ground of inconvenience or any other ground whatsoever. The Buyer shall from the date of receipt by him of the notice from the Sellers to take possession of the Flat regularly and every month pay in advance by the 1st. week provisional amount of Rs. [[Amount in Rupees]] towards taxes, outgoings and expenses mentioned in the Second Schedule hereto and/or any other taxes or outgoings to be levied hereafter and not covered by the said Schedule. The Buyer hereby agrees to deposit within [[No. Of days]] days from receipt of the said notice and to keep Rs. [[Amount in Rupees]] deposited with the Sellers towards the performance of the terms and conditions of this Agreement. The said deposit shall carry no interest. The balance of the said deposit, after deducting there from arrear of taxes, outgoings and expenses mentioned in the Second Schedule and the expenses incurred in the formation of Co-operative Housing Society or Limited Company will be refunded when the Co-operative Housing Society or Limited Company is formed and the property is validly transferred to the said Co-operative Housing Society or Limited Company and not otherwise GENERAL CLAUSES The said building shall always be known as [[Name of the Apartment or Building]] Apartments and the Co-operative Housing Society or the Limited Company to be formed shall bear the name Apartments and this name shall not be changed or altered or modified without the written permission of the Seller. After the Building is complete and ready for occupation and after the Society or the Limited Company is incorporated and registered and only after all the flats, in favour the said building have been sold and disposed of any by the Sellers and after the Sellers have received all dues payable to them under the terms of its affiliates or nominees. However the parties affirm that the mutual rights and obligation under this agreement shall at from all times remain that flat holders of the parties said Society or Limited Company subject to this agreementthe covenants and conditions contained in the said Indenture of Conveyance dated [[Date]] as also contained herein. The failure In the event of any Party the Society or the Limited Company is formed and registered before the sale and disposal by the Sellers of all the flats in the said building, the powers, and authority of the Society so formed or of the Buyers and other purchasers of the flat shall be subject to enforce, in any one the overall authority and control of the Sellers over all or more instances, performance of any of the termsmatters concerning the said building, covenants the construction and completion thereof and all amentities appertaining to the same and in particular the Sellers shall have absolute authority and control as regards the unsold flat and the disposal thereof. Any delay or conditions indulgence by the Sellers in enforcing the terms of this Agreement agreement or any forbearance of giving of time to sell the Buyers shall not be construed as a waiver or a relinquishment waiver, on the part of the Sellers, of any right breach or claim granted or arising hereunder or non-compliance of any of the future performance of any such term, covenant, or condition, terms and such failure shall in no way affect the validity conditions of this Agreement to sell or agreement by the rights and obligations Buyer nor shall the same in any manner prejudice the right of the Parties hereto. The Parties acknowledge that a waiver Sellers TERMS OF PAYMENT An amount of any term or provision hereof may only be given by a written instrument executed by any Party hereto. This Agreement to sell may be executed Rs.[[ Amount in two counterparts, each of Rupees]] which shall be deemed paid to be an original, and all of which together shall constitute one and the same instrument. It is agreed by the Seller and by buyer in the Buyer manner set out herein below that the Buyer shall get this Agreement registered with the Competent Authority as required under the Act, if required by law. The Buyer shall also bear all the cost of the Stamp Duty, Registration fee, Advocates fees and all miscellaneous expenses that may be incurred for such purposes. REPRESENTATIONS AND WARRANTIES Each party hereby represents and warrants is to that: Each party has all required capacity and corporate authorization to enter into this Agreement and be bound by the obligations provided hereunder;say :—

MANDATORY OBLIGATIONS OF THE PARTIES. No provision The lessor hereby demises unto the lessee all that the building bearing [[Municipal No]] situated at [[Name of place]] (more particularly described in Schedule I hereto), This Lease Deed shall be executed in duplicate. The original shall be retained by the Lessor and the duplicate by the Lessee. The stamp duty and all other expenses in respect of this Agreement to sell Lease Deed and duplicate thereof shall be deemed borne and paid by the Lessee. The marginal notes and the catch lines hereto are meant only for convenience of references and shall not in any way be taken into account in the interpretation of these presents. If the Lessor fails to constitute a partnership pay the taxes, charges, assessment payable by him, or joint venture between fails to carry out the Parties No provision of this Agreement necessary repairs and other work which he has to sell shall constitute either Party carry out as provided herein, the legal Representative or agent of Lessee may after one month notice in writing, pay, discharge and carry out the othersame at its own cost and the Lessee may set off the same from the rent payable to the Lessor under these presents. It is hereby agreed and declared that these presents are on the express condition, nor shall either Party have that if the right or authority to assume, create or incur any liability rent or any obligation of any kind, express or implied, against, or in the name of, or on behalf of the other Party except as may be required for the purpose of execution of this agreement. Neither this Agreement to sell nor the rights or obligations hereunder shall be assigned or delegated, in whole or in part to any other third party or entity without the prior written consent thereto of the other Party. However, the Buyers shall at its discretion be entitled to call upon the Seller to execute the sale deed thereof payable in respect of the said property demised premises shall be in favour arrears for a period of [[Time Period]] or by if the Lessee shall omit to perform or observe any of its affiliates covenants or nominees. However conditions on the parties affirm lessee’s part herein contained, the Lessor may re-enter upon the demised premises provided that the mutual Lessor has served a notice to the Lessee and a period of one month has elapsed after the issue of such notice, the Lessee does not pay the rent or does not perform or observe the covenant or condition and thereupon this demise and all rights and obligation under this agreement shall at all times remain that of the parties to this agreementLessee hereunder shall determine. The failure If default is made by the lessee in payment of the rent for any Party to enforce[[years]], or in any one or more instances, observance and performance of any of the termscovenants and stipulations hereby contained and on the part to be observed and performed by the lessee, then on each such default, the lessor shall be entitled in addition to or in the alternative to any other remedy that may be available to him at his discretion, to terminate the lease and eject the lessee from the premises demised and from the building, that may have been constructed thereon; and to take possession thereof as full and absolute owner thereof, provided that a notice in writing shall be given by the lessor to the lessee of his intention to terminate the lease and to take possession of the demised premises but if the arrears of rent are paid or the lessee comply with or carry out the covenants and conditions or conditions stipulations, within fifteen days from the service of this Agreement to sell such notice, then the lessor shall not be construed as a waiver or a relinquishment of any right or claim granted or arising hereunder or entitled to take possession of the future performance of any such term, covenant, or condition, said premises and such failure shall in no way affect the validity of this Agreement to sell or the rights and obligations of the Parties hereto. The Parties acknowledge that a waiver of any term or provision hereof may only be given by a written instrument executed by any Party hereto. This Agreement to sell may be executed in two counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same instrument. It is agreed by the Seller and the Buyer that the Buyer shall get this Agreement registered with the Competent Authority as required under the Act, if required by law. The Buyer shall also bear all the cost of the Stamp Duty, Registration fee, Advocates fees and all miscellaneous expenses that may be incurred for such purposes. REPRESENTATIONS AND WARRANTIES Each party hereby represents and warrants to that: Each party has all required capacity and corporate authorization to enter into this Agreement and be bound by the obligations provided hereunder;building.

MANDATORY OBLIGATIONS OF THE PARTIES. No provision The lessor hereby demises unto the lessee all that the building bearing [[Municipal No]] situated at [[Name of this Agreement to sell shall be deemed to constitute place]] (more particularly described in Schedule I hereto),together with all the fixtures and fittings therein, (a partnership or joint venture between complete list whereof is given in Schedule II hereto) together with the Parties No provision of this Agreement to sell shall constitute either Party as the legal Representative or agent of the other, nor shall either Party have electrical installations and together with the right or authority for the Lessee, its employees, servants, agents, customers and persons authorised by the Lessee in common with the Lessor and all the persons authorised by the lessor to assumeuse the entrances, create or incur any liability or any obligation of any kinddoorways, express or impliedentrance hall, againststaircases, or landings and passages in the name of, or on behalf of the other Party except as may be required demised premises for the purpose of execution ingress thereto, This Lease Deed shall be executed in duplicate. The original shall be retained by the Lessor and the duplicate by the Lessee. The stamp duty and all other expenses in respect of this agreement. Neither this Agreement to sell nor the rights or obligations hereunder Lease Deed and duplicate thereof shall be assigned or delegated, borne and paid by the Lessee. The marginal notes and the catch lines hereto are meant only for convenience of references and shall not in whole or any way be taken into account in part to any other third party or entity without the prior written consent thereto interpretation of the other Partythese presents. However, the Buyers The lessee shall at its discretion be entitled to call upon erect fittings, fixtures, wooden partitions, cabins or make any such addition or alteration, as may be necessary for its use by the Seller Lessee; provided that the lessee shall remove the said fittings, fixtures, wooden partitions, cabins, additions or alterations and restore the demised premises to execute the sale deed Lessor on the expiry of the term or sooner determination of the lease in the same condition as existed before making such changes. If the Lessor fails to pay the taxes, charges, assessment payable by him, or fails to carry out the necessary repairs and other work which he has to carry out as provided herein, the Lessee may after one month notice in writing, pay, discharge and carry out the same at its own cost and the Lessee may set off the same from the rent payable to the Lessor under these presents. It is hereby agreed and declared that these presents are on the express condition, that if the rent or any part thereof payable in respect of the said property demised premises shall be in favour arrears for a period of [[Time Period]] or by if the Lessee shall omit to perform or observe any of its affiliates covenants or nominees. However conditions on the parties affirm lessee’s part herein contained, the Lessor may re-enter upon the demised premises provided that the mutual Lessor has served a notice to the Lessee and a period of one month has elapsed after the issue of such notice, the Lessee does not pay the rent or does not perform or observe the covenant or condition and thereupon this demise and all rights and obligation under this agreement shall at all times remain that of the parties to this agreementLessee hereunder shall determine. The failure If default is made by the lessee in payment of the rent for any Party to enforcethree years, or in any one or more instances, observance and performance of any of the termscovenants and stipulations hereby contained and on the part to be observed and performed by the lessee, then on each such default, the lessor shall be entitled in addition to or in the alternative to any other remedy that may be available to him at his discretion, to terminate the lease and eject the lessee from the premises demised and from the building, that may have been constructed thereon; and to take possession thereof as full and absolute owner thereof, provided that a notice in writing shall be given by the lessor to the lessee of his intention to terminate the lease and to take possession of the demised premises but if the arrears of rent are paid or the lessee comply with or carry out the covenants and conditions or conditions stipulations, within fifteen days from the service of this Agreement to sell such notice, then the lessor shall not be construed as a waiver or a relinquishment of any right or claim granted or arising hereunder or entitled to take possession of the future performance of any such term, covenant, or condition, said premises and such failure shall in no way affect the validity of this Agreement to sell or the rights and obligations of the Parties hereto. The Parties acknowledge that a waiver of any term or provision hereof may only be given by a written instrument executed by any Party hereto. This Agreement to sell may be executed in two counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same instrument. It is agreed by the Seller and the Buyer that the Buyer shall get this Agreement registered with the Competent Authority as required under the Act, if required by law. The Buyer shall also bear all the cost of the Stamp Duty, Registration fee, Advocates fees and all miscellaneous expenses that may be incurred for such purposes. REPRESENTATIONS AND WARRANTIES Each party hereby represents and warrants to that: Each party has all required capacity and corporate authorization to enter into this Agreement and be bound by the obligations provided hereunder;building.

MANDATORY OBLIGATIONS OF THE PARTIES. No provision of this Agreement to sell shall be deemed to constitute a partnership or joint venture between the Parties No provision of this Agreement to sell shall constitute either Party as the legal Representative or agent of the other, nor shall either Party have the right or authority to assume, create or incur any liability or any obligation of any kind, express or implied, against, or in the name of, or on behalf of the other Party except as may be required for the purpose of execution of this agreement. Neither this Agreement to sell nor the rights or obligations hereunder shall be assigned or delegated, in whole or in part to any other third party or entity without the prior written consent thereto of the other Party. However, the Buyers shall at its discretion be entitled to call upon the Seller to execute the sale deed in respect of the said property in favour of any of its affiliates or nominees. However However, the parties affirm that the mutual rights and obligation under this agreement shall at all times remain that of the parties to this agreement. The failure of any Party to enforce, in any one or more instances, performance of any of the terms, covenants or conditions of this Agreement to sell shall not be construed as a waiver or a relinquishment of any right or claim granted or arising hereunder or of the future performance of any such term, covenant, or condition, and such failure shall in no way affect the validity of this Agreement to sell or the rights and obligations of the Parties hereto. The Parties acknowledge that a waiver of any term or provision hereof may only be given by a written instrument executed by any Party hereto. This Agreement to sell may be executed in two counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same instrument. It is agreed by the Seller and the Buyer that the Buyer shall get this Agreement registered with the Competent Authority as required under the Act, if required by law. The Buyer shall also bear all the cost of the Stamp Duty, Registration fee, Advocates fees and all miscellaneous expenses that may be incurred for such purposes. REPRESENTATIONS AND WARRANTIES Each party hereby represents and warrants to that: Each party has all required capacity and corporate authorization to enter into this Agreement and be bound by the obligations provided hereunder;

MANDATORY OBLIGATIONS OF THE PARTIES. No provision of this Agreement Subject to sell shall be deemed to constitute a partnership or joint venture between the Parties No provision of this Agreement to sell shall constitute either Party as the legal Representative or agent powers of the otherBank and the obligation of the Borrower herein contained, nor shall either Party have the right or authority to assumeBorrower may, create or incur any liability with the approval of the Bank, deal with the said book debts or any obligation part thereof in the ordinary course of business. Provided that the margin of security provided in this agreement is fully maintained and on the express term that if the Borrower is so required, the Borrower shall pay the proceeds of such book debts immediately on receipt thereof. In the event of failure on the part of the Borrower to pay the balance due as per this agreement or any kind, express or implied, against, other moneys due to the Bank or in the name of, or on behalf event of the Borrowers failing to observe or perform any of the terms and conditions hereof or if for any reason the Bank may consider its security in jeopardy the Bank shall be entitled but not bound without any prior notice to the Borrower which notices are hereby expressly waived by the Borrowers and without prejudice to any other Party except rights or remedies of the Bank as may attorney and in the name of the Borrower or otherwise to recover and receive and/or appoint receiver of the book debts or any part thereof, give notices and demands to debtors and third parties liable therefore and xxx fire, recover, receive and give receipts for the same and sell or realise by public auction of private contract or otherwise dispose of or deal with all or any part of such book debts and enforce, settle, promise, submit to arbitration or deal in any manner with book debts or any part thereof use or apply the net proceeds thereof in the manner and for the purpose stated in the agreement. If the net proceeds of the book debts are insufficient to cover the indebtness of the Borrower to the Bank then the Borrower shall forthwith pay to the Bank the deficiency. It shall be required lawful to the Bank forthwith or at anytime thereafter and without any notice to the Borrower (without prejudice to the right of the Bank to xxx the Borrower or realise any other security held) either by public auction or private contract absolutely to sell or otherwise dispose of all or any of the goods hypothecated and charged and to apply the net proceeds at such sale towards the liquidation of the principal and interest moneys due to the Bank on the said cash credit account with further interest thereon at [[interest rate]]% per annum together with all costs and charges incurred or to be incurred by the Bank as ascertained by the books of the Bank signed by the Manager or other duly authorised officer therefore for the time being which the Borrower hereby agrees to accept as sufficient proof of the correctness thereof without production of any other voucher or paper. In the event of there being a surplus in such proceeds it shall be lawful for the Bank to apply the said surplus as far as the same shall extend in or towards payment or liquidation of any other moneys due from the Borrower by way of loans, discount of bills, letters of credit, guarantee charges or of any other demand legal or equitable against the Borrower or any other indebtness, future or contingent and whether matured or not, due solely or in conjunction with any other person or persons which the lay or set off or mutual credit would in any case admit together with interest on the said claims at such rates as the said documents provide, any Bank charges thereon and after adjustment of all liabilities as stated above the surplus if any shall be held by the Bank at the disposal of the Borrower. This agreement shall operate as a continuing security for the balance ultimately due to the Bank and it is not to be considered as closed for the purpose of execution of this agreement. Neither this Agreement security and the security is not to sell nor the rights or obligations hereunder shall be assigned or delegated, in whole or in part to any other third party or entity without the prior written consent thereto considered as exhausted by reason of the other Party. However, Cash Credit Account being brought to credit at any time or from time to time or if any moneys due or owing to the Buyers shall at its discretion Bank having been paid in full the balance is a credit and the Bank’s rights are not to be entitled to call upon the Seller to execute the sale deed in respect of the said property in favour of any of its affiliates or nominees. However the parties affirm that the mutual rights and obligation under this agreement shall at all times remain that of the parties to this agreement. The failure of any Party to enforce, prejudiced in any one or more instances, performance of any of manner even if the terms, covenants or conditions of this Agreement to sell shall not account be construed as a waiver or a relinquishment of any right or claim granted or arising hereunder or of overdrawn beyond the future performance of any such term, covenant, or condition, and such failure shall in no way affect the validity of this Agreement to sell or the rights and obligations of the Parties hereto. The Parties acknowledge that a waiver of any term or provision hereof may only be given by a written instrument executed by any Party hereto. This Agreement to sell may be executed in two counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one limit herein fixed and the same instrument. It security shall continue in operation till the agreement is agreed cancelled either by the Seller and the Buyer that the Buyer shall get this Agreement registered with the Competent Authority Bank or by mutual consent of parties as required under the Act, if required by law. The Buyer shall also bear all the cost of the Stamp Duty, Registration fee, Advocates fees and all miscellaneous expenses that may be incurred for such purposes. REPRESENTATIONS AND WARRANTIES Each party hereby represents and warrants to that: Each party has all required capacity and corporate authorization to enter into this Agreement and be bound by the obligations provided hereunder;hereinbefore mentioned.