Common use of Membership of the Said SAC Clause in Contracts

Membership of the Said SAC. The Allottee accepts and confirms that (i) membership of the Said SAC shall be only for the apartment allottees of Solaris City Serampore Phase I and Solaris City Serampore Phase-2 . (ii) each Apartment shall be entitled to 1 (one) membership, irrespective of the number of owners of such Apartment (iii) membership shall be only for individuals (i.e. no corporate membership) and if the Allottee is a body corporate, it will be required to nominate 1 (one) individual occupier of the Said Apartment, who, for all purposes, shall be treated as the member of the Said SAC (iv) the Said SAC can be used by the member and his/her immediate family i.e. spouse and dependent children below 21 (twenty one) years (v) in the event of further transfer of the Said Apartment, the membership will automatically stand transferred in favour of such new Allottee at the then applicable SAC Scheme and thereupon the Allottee abovenamed shall cease to be member of the SAC and (vi) if the Allottee let out his/her Apartment, he/she may request a temporary suspension of his/her usage right of the Said SAC and permission for usage of the Said SAC by the tenant under his/her membership. The Allottee agrees and confirms that the membership of the said SAC shall under no circumstances be separately transferable.

Appears in 2 contracts

Samples: Solaris City Serampore Phase, Solaris City Serampore Phase

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Membership of the Said SAC. The Allottee accepts and confirms that (i) membership of the Said SAC shall be only for the apartment allottees of Solaris City Serampore Phase I 2 and Solaris City Serampore Phase-2 Phase-1 . (ii) each Apartment shall be entitled to 1 (one) membership, irrespective of the number of owners of such Apartment (iii) membership shall be only for individuals (i.e. no corporate membership) and if the Allottee is a body corporate, it will be required to nominate 1 (one) individual occupier of the Said Apartment, who, for all purposes, shall be treated as the member of the Said SAC (iv) the Said SAC can be used by the member and his/her immediate family i.e. spouse and dependent children below 21 (twenty one) years (v) in the event of further transfer of the Said Apartment, the membership will automatically stand transferred in favour of such new Allottee at the then applicable SAC Scheme and thereupon the Allottee abovenamed shall cease to be member of the SAC and (vi) if the Allottee let out his/her Apartment, he/she may request a temporary suspension of his/her usage right of the Said SAC and permission for usage of the Said SAC by the tenant under his/her membership. The Allottee agrees and confirms that the membership of the said SAC shall under no circumstances be separately transferable.

Appears in 1 contract

Samples: Solaris City Serampore Phase

Membership of the Said SAC. The Allottee accepts and confirms that (i) membership of the Said SAC shall be only for the apartment allottees of Solaris City Serampore Phase I Xxxxxxx Xxxx Xxxxxxxxx Xxxxx 0 and Solaris City Serampore Phase-2 Phase-1 . (ii) each Apartment shall be entitled to 1 (one) membership, irrespective of the number of owners of such Apartment (iii) membership shall be only for individuals (i.e. no corporate membership) and if the Allottee is a body corporate, it will be required to nominate 1 (one) individual occupier of the Said Apartment, who, for all purposes, shall be treated as the member of the Said SAC (iv) the Said SAC can be used by the member and his/her immediate family i.e. spouse and dependent children below 21 (twenty one) years (v) in the event of further transfer of the Said Apartment, the membership will automatically stand transferred in favour of such new Allottee at the then applicable SAC Scheme and thereupon the Allottee abovenamed shall cease to be member of the SAC and (vi) if the Allottee let out his/her Apartment, he/she may request a temporary suspension of his/her usage right of the Said SAC and permission for usage of the Said SAC by the tenant under his/her membership. The Allottee agrees and confirms that the membership of the said SAC shall under no circumstances be separately transferable.

Appears in 1 contract

Samples: Solaris City Serampore Phase

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Membership of the Said SAC. The Allottee accepts and confirms that (i) membership of the Said SAC shall be only for the apartment allottees of Solaris City Serampore Bonhooghly and the Solaris Bonhooghly Phase I and Solaris City Serampore Phase-2 2. (ii) each Apartment shall be entitled to 1 (one) membership, irrespective of the number of owners of such Apartment (iii) membership shall be only for individuals (i.e. no corporate membership) and if the Allottee is a body corporate, it will be required to nominate 1 (one) individual occupier of the Said Apartment, who, for all purposes, shall be treated as the member of the Said SAC (iv) the Said SAC can be used by the member and his/her immediate family i.e. spouse and dependent children below 21 (twenty one) years (v) in the event of further transfer of the Said Apartment, the membership will automatically stand transferred in favour of such new Allottee at the then applicable SAC Scheme and thereupon the Allottee abovenamed shall cease to be member of the SAC and (vi) if the Allottee let out his/her Apartment, he/she may request a temporary suspension of his/her usage right of the Said SAC and permission for usage of the Said SAC by the tenant under his/her membership. The Allottee agrees and confirms that the membership of the said SAC shall under no circumstances be separately transferable.

Appears in 1 contract

Samples: Draft Agreement for Transfer

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