Common use of Nomination Clause in Contracts

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment Row House/Bungalow unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-Lock- in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment Row Houses is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. . Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX VIII SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D G below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D G .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the PromoterDeveloper and the Associate Developer. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Developer and the Associate Developer. Any additional income tax liability that may become payable by the Promoter Developer and the Associate Developer due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter Developer and the Associate Developer agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX VIII SPECIFICATIONS -The tentative specification of the Residential Segment Blocks of the Building is as given and more fully described in SIXTH SCHEDULE - D belowhereunder written. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter Developer and the Associate Developer, on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D SIXTH SCHEDULE hereunder written.

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve12 (twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination nomination, the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , ,the Promoter , ,on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyancedeed of sub-lease, the Allottee(s) Allottee nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve18 (eighteen) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party, and the Sub-Lessee shall obtain prior written consent from the Bank/Financial Institution from which the Sub-Lessee has obtained home loan finance and/or financial assistance (if applicable). In the event of such nomination in the manner as aforesaid, the Sub-Lessee and also the nominee shall execute necessary deeds and documents as required by the Sub-Lessor and such nominee shall be obliged to fulfill and observe all the covenants and obligations of the Sub-Lessee under this Agreement, including those that remain unfulfilled by the Sub-Lessee even retrospectively at the time of such nomination. At the time of nomination nomination, the Transferee new purchaser will be compulsorily required to register the Agreement for sale/nomination agreementSub-Lease / Nomination Agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price Premium or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. . Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. .Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 23% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .