MODE OF PAYMENT AND TIME IS ESSENCE. 3.1 That as on the date of ASL, the Allottee(s) has made the payment of sum as mentioned in Part II of Schedule “C” in the manner mentioned therein towards Total Price.
3.2 The Allottee(s) shall make the payment of balance Total Price and other payments in accordance with Payment Plan.
3.3 The Allottee(s) shall make all the payments under this ASL by cheque or demand draft in the name of “Xxxxxxx Xxxxxxxx P5 UO AHL MASTER COLL A/C (A/C NO. 59238010101010)”.
3.4 The time is the essence with respect to the Allottee(s) obligations to pay the Total Price along with other payments such as applicable stamp duty, registration fee and other charges stipulated under this Indenture of Understanding to be paid on or before due date or as and when demanded by the Promoter.
3.5 The Allottee(s) shall not delay, withhold or postpone the payments due as per the Payment Plan, on whatever reason and in that event, Allottee(s) shall be responsible for any consequential sufferance or damages and they shall adhere to clause 6.1 mentioned herein.
3.6 The Promoter has further informed the Allottee(s) and the Allottee(s) is fully aware that the default in payment of due/ balance amount would affect construction of the whole Project said as envisaged, as there are other Allottee(s) who have joined, and will from time to time join, the Scheme of purchase and construction of Units and delay in payment by the Allottee(s) shall effect the Whole Project.
3.7 The Allottee(s) shall make timely payment of all amounts under this ASL as and when demanded by the Promoter in accordance with the Payment Plan. In default of payment of any amount in time, the Allottee(s) shall be liable to pay Delay Payment Charges on all the amounts which become due and payable by the Allottee(s) to the Promoter under the terms of this ASL.
3.8 The right of the Promoter to receive Delay Payment Charges as aforesaid shall not entitle the Allottee(s) to delay the payment of any installment on its due date under the ASL nor shall it amount to or be construed as a waiver on the part of the Promoter of any of its rights, remedies and privileges in case of default amount towards the installment amount in the agreed manner by the Allottee(s).
3.9 For all payments, the date of clearance of the demand draft/pay order/cheque shall be taken as the date of payment. The dishonor of the demand draft/pay order/cheque for any reason, shall entitle the Promoter to charge from the Allottee(s) the cheque dishonour charges along w...
MODE OF PAYMENT AND TIME IS ESSENCE. 4.1 That as on the date of this Agreement, the Allottee(s) has made the payment of sum as mentioned in Part II of Schedule “C” in the manner mentioned therein towards Construction Cost.
