Common use of NOW THIS DEED WITNESSETH as follows Clause in Contracts

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably and unconditionally guarantees to the Authority the due and punctual performance by the Service Provider of all the obligations on the part of the Service Provider under or pursuant to the Framework Agreement (“the Terms”) and (as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term in respect of which the Service Provider has defaulted or which is unfulfilled by the Service Provider. The Guarantor shall be liable to and indemnify the Authority for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority may suffer or incur by reason of the said failure or breach. The Guarantor shall be liable to and indemnify the Beneficiary and the Authority that is a party to the Framework Agreement or the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreement. The Guarantor shall be, and shall continue to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable against, the Service Provider, for any reason whatsoever. No alterations in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority shall be entitled to assign or transfer all or any of the Authority’s rights under this guarantee without consent of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreement.

Appears in 2 contracts

Samples: Framework Agreement, data.gov.uk

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NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably 2.1 In consideration of the rents and unconditionally guarantees to the Authority the due and punctual performance by the Service Provider of all the obligations covenants on the part of the Service Provider under or pursuant Tenant and the conditions hereinafter reserved and contained the Landlord with full title guarantee HEREBY DEMISES unto the Tenant the Premises subject to the Framework Agreement matters set out or referred to in Part V of the Schedule EXCEPT AND RESERVED as specified in Part II of the Schedule TO HOLD unto the Tenant for the Term YIELDING AND PAYING therefor clear of all deductions yearly and proportionately for any part of a year the Rent and to be paid by four equal payments in advance the first of such payments (or a proportionate part thereof) to be paid on the Terms”) Rent Commencement Date and the subsequent payments to be made on the usual quarter days AND ALSO YIELDING AND PAYING by way of further or additional rent annually any sum or sums of money equal to the amount which the Landlord may expend in effecting and maintaining the insurance mentioned in paragraph 2 of Part IV of the Schedule (or if such insurance is effected under a policy which relates also to other property such proportion of the total premium for such policy as the Landlord’s Surveyor shall determine PROVIDED THAT the Tenant shall not be liable for a proportion of any increased premium payable as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any consequence of the Terms, then the Guarantor will forthwith perform and fulfil in place particular use of part of the Service Provider each property so assessed (other than the Premises) by the Landlord or the owner or occupier of that part such determination (save as to any question of law) to be final and every Term binding on the Tenant) (the ‘Insurance Rent’) such sum or sums to be paid within fourteen days of demand being made of the Tenant and so that in particular no deduction shall be made by the Tenant in respect of which any agency or other commission whether paid or allowed to the Service Provider has defaulted Landlord itself or which is unfulfilled otherwise but the full nominal amount of each sum or premium shall be treated as expended by the Service Provider. The Guarantor shall be liable to and indemnify the Authority Landlord for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority may suffer or incur by reason of the said failure or breach. The Guarantor shall be liable to and indemnify the Beneficiary insurance and the Authority that is a party to the Framework Agreement or the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreement. The Guarantor shall be, and shall continue to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable against, the Service Provider, for any reason whatsoever. No alterations in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority Landlord shall be entitled to assign retain for its own benefit the said agency or transfer all other commission so paid or any of the Authority’s rights under this guarantee without consent of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreement.allowed

Appears in 2 contracts

Samples: OpSec Holdings, OpSec Holdings

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably and unconditionally guarantees to the Authority AUTHORITY the due and punctual performance by the Service Provider PROVIDER of all the obligations on the part of the Service Provider SERVICE PROVIDER under or pursuant to the Framework Agreement Agreement, including each and every Contract (as defined in the Framework Agreement) (“the Terms”) and (as a separate stipulation and as primary obligor) agrees that if the Service Provider SERVICE PROVIDER shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith on demand perform and fulfil in place of the Service Provider SERVICE PROVIDER each and every Term in respect of which the Service Provider SERVICE PROVIDER has defaulted or which is unfulfilled by the Service ProviderSERVICE PROVIDER. The Guarantor shall be liable to and indemnify the Authority AUTHORITY for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority AUTHORITY may suffer or incur by reason of the said failure or breach. The breach of the Terms, provided that the total amount recoverable from the Guarantor shall be under the indemnity contained in this clause 2 will not exceed the amount the SERVICE PROVIDER would have been liable to and indemnify the Beneficiary and the Authority that is a party for under or pursuant to the Framework Agreement or Terms on the Contracts basis that has been breached by such Term were binding on the Service Provider or which the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework AgreementSERVICE PROVIDER. The Guarantor shall be, and shall continue to be, liable under this Agreement Guarantee even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable against, the Service ProviderSERVICE PROVIDER, for any reason whatsoever. No alterations in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the AuthorityAUTHORITY, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement Guarantee shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service ProviderSERVICE PROVIDER, the Guarantor or any other person; or any disclaimer of the Framework Agreement by a liquidator of the Service ProviderSERVICE PROVIDER; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider SERVICE PROVIDER and the Authority AUTHORITY entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, full the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys monies held or received or receivable by the AuthorityAUTHORITY; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider SERVICE PROVIDER or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider SERVICE PROVIDER or any such co-surety; or unless so directed by the Authority AUTHORITY (when the Guarantor will prove, and turn over any realisations to the AuthorityAUTHORITY, in accordance with such directions) claim as a creditor of the Service Provider SERVICE PROVIDER or any such co-surety in competition with the AuthorityAUTHORITY. If any discharge, release or arrangement is made by the AUTHORITY in whole or in part on the basis of any payment, security or other disposition which is avoided or must be restored in insolvency, liquidation, administration or otherwise, without limitation, then the liability of the Guarantor under this Guarantee will continue or be reinstated as if the discharge, release or arrangement had not occurred. No delay or omission of the Authority AUTHORITY in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority AUTHORITY herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority AUTHORITY under this guarantee Guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions of this guarantee Guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee Guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee Guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority shall be entitled to assign or transfer all or any of the Authority’s rights under this guarantee without consent of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreement.:

Appears in 1 contract

Samples: Framework Agreement

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably and unconditionally guarantees to the Authority the due and punctual performance by the Service Provider of all the obligations on the part IN CONSIDERATION of the Service Provider premises, the Loan and of other good and valuable consideration, the adequacy and receipt whereof are hereby acknowledged, SHIPOWNER HEREBY COVENANTS with Mortgagee to satisfy its obligations under or pursuant the Subsidiary Guarantee and to the Framework Agreement (“the Terms”) and (as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider pay each and every Term sum of money that may be or become owing to Mortgagee from Shipowner under the terms of the Security Documents to which it is a party or any of them at the time and in respect the manner specified therein, such amounts together hereinafter referred to as the "Obligations." Shipowner agrees to pay all other sums comprising the Obligations in accordance with the terms, conditions and provisions in the Security Documents and to perform, observe and comply with the covenants, terms and obligations and conditions on its part to be performed, observed and complied with contained or implied herein and in the Security Documents. Shipowner shall also pay to Mortgagee upon Mortgagee's first written demand all stamp duties, registration and/or recording fees and charges for certificates incurred by Mortgagee in connection with the registration of which this Deed and the Service Provider has defaulted or which is unfulfilled by the Service Provider. The Guarantor shall be liable to Statutory Mortgage and indemnify the Authority for all losses, damagesother claims, expenses, liabilitiescosts, claimspayments, costs disbursements, losses, damages or proceedings liabilities which the Authority may suffer or incur be incurred by Mortgagee by reason of the said failure covenants and conditions applicable to Shipowner contained in the Security Documents, together with interest thereon as herein or breach. The Guarantor shall be liable to therein provided, and indemnify the Beneficiary confirms that such obligations are secured by this Deed and the Authority that is a party Statutory Mortgage. By way of security for payment of the Obligations, SHIPOWNER HEREBY MORTGAGES, CHARGES, GRANTS, CONVEYS, PLEDGES, ASSIGNS, TRANSFERS, SETS OVER AND CONFIRMS the whole of the Vessel unto Mortgagee and its successors and permitted assigns, together with all of Shipowner's right, title and interest in and to the Framework Agreement or the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform for boilers, engines, machinery, masts, spars, sails, rigging, boats, anchors, nets, chains, cables, tackle, apparel, furniture, fittings, navigation equipment, propulsion equipment, fuel, lubricating and other oils, consumables and other stores and equipment and all losses, damages, expenses, liabilities, claims, costs or procedures other appurtenances to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreement. The Guarantor shall beVessel appertaining or belonging, whether now owned or hereafter acquired, whether on board or not, and shall continue all additions, improvements and replacements hereafter made in or to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding onVessel, or unenforceable against, the Service Provider, for any reason whatsoever. No alterations in the Framework Agreementpart thereof, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement equipment and appurtenances aforesaid and including Shipowner's rights under any leases and charters in connection therewith, all of which property shall be deemed to be included in the term "Vessel" as used in this Agreement shall include all amendmentsDeed, variations and additions which Shipowner hereby warrants to it, whether made before or after be free at the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or hereof from any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations charge or encumbrance whatsoever (other than charges or encumbrances in existence immediately prior to the Service Provider Closing (as defined in the Purchase Agreement)). Shipowner hereby covenants that the security created by this Deed and the Authority entering into Statutory Mortgage shall be held by Mortgagee as continuing security, and that the Framework Agreement, or the performance security so created shall not be satisfied by any intermediate payment of any part of the Framework Agreement, making it ineffective or unenforceableObligations. Until Upon the Terms have Obligations having been unconditionally and irrevocably performed paid and discharged in full, and following a written request therefore from Shipowner, Mortgagee will release the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable created by the Authority; Statutory Mortgage and this Deed. As further security for the satisfaction of the Obligations, Shipowner does also grant, convey, mortgage, pledge, assign, transfer, set over and confirm to Mortgagee absolutely all rights and interests of every kind which now or at any later time it has to, or in connection with, the Insurances and Requisition Compensation (as such terms are hereafter defined). It is hereby covenanted, declared and agreed that the property above described is to be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations held subject to the Authorityfurther covenants, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authorityconditions, provisions, terms and uses hereinafter set forth. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of Without prejudice to the provisions of this guarantee is Section 36 of the Merchant Shipping Xxx 0000, Shipowner shall remain liable to fulfill all obligations assumed by it in relation to the Vessel and Mortgagee shall be under no obligation of any kind whatsoever in respect thereof or becomes invalid, illegal or unenforceable in any respect be under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be liability whatsoever in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service event of any notice it will be sufficient failure by Shipowner to prove, perform its obligations in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority shall be entitled to assign or transfer all or any of the Authority’s rights under this guarantee without consent of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment respect thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreement.

Appears in 1 contract

Samples: Purchase Agreement (Ambassadors International Inc)

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably (1) In consideration of the premises and unconditionally guarantees various facilities and variety of concessions made available to the Authority Sub-Lessee and the due rent hereby reserved and punctual performance by of the Service Provider of all the obligations covenants and agreements on the part of the Service Provider under or pursuant Sub-Lessee hereinafter contained, the Sub-Lessor doth hereby, demise to the Framework Agreement (“Sub-Lessee TO HOLD the Terms”) and (said premises hereunder expressly demised unto the Sub-Lessee for a terms of five years computed from _ to therefore, the yearly Lease rent during the said term unto the sub- Lessor through Central Bank Of India, SEEPZ Branch as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term in respect of which the Service Provider has defaulted or which is unfulfilled may be otherwise require by the Service Provider. The Guarantor shall be liable to and indemnify the Authority for all lossesSub-Lessor, damages, expenses, liabilities, claims, costs or proceedings which the Authority may suffer or incur by reason of the said failure or breach. The Guarantor shall be liable to and indemnify yearly Lease rent of Rs in advance being the Beneficiary and the Authority that is a party to the Framework Agreement or the Contracts that has been breached rent by the Service Provider or which Sub- Lessor without any deductions whatsoever. Effective Date of Possession (2) The Sub-Lessee with intent to bind all Persons into whatsoever by hands the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreement. The Guarantor shall be, and shall continue to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable againstdemised Premises may come hereby covenant with Sub-Lessee, the Service Provider, for any reason whatsoever. No alterations in Lessee and Lessor as follow: Covenants by Sub-Lessee a) During the Framework Agreement, or in said terms hereby created to pay unto the Services, Lessee/Lessor the said rent and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: charges that be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may fixed from time to time notify in writing to by the other party. A notice or demand served by first class post shall be deemed duly served Chairperson, SEEPZ SEZ at the time & on the second business day after days and in manner hereinbefore appointed for payment thereof clear of all deductions. Further, during the date of posting. For said term, the purposes Sub- Lessor may revise the Lease rent even during the currency of this paragraph “business day” means a day indenture on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority shall be entitled to assign or transfer all or any of the Authority’s rights under this guarantee without consent of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreement.following grounds:- To Pay Rent & Other Charges

Appears in 1 contract

Samples: seepz.gov.in

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably 1. In consideration of the premises and unconditionally guarantees of various facilities and a variety of concessions made available to the Authority Lessee and the due rent hereby reserved and punctual performance by of the Service Provider of all the obligations covenants and agreements on the part of the Service Provider under Lessee hereinafter contained, the Lessor both hereby demise all the piece of land known as Plot No. A/35 in MEPZ forming part of survey Nos. 164/I withi the village limits of Kadapperi of Taluk Saidapet, District Chengalpattu contained by admeasurement 1956.25 square meters or pursuant thereabouts and hereinafter referred to the Framework Agreement said premises, and more particularly described in the second schedule hereunder written TOGETHER with the building and structures now or at any time standing and beting thereon Excepting and Reserving unto the Lessor all mines and minerals in and under the said land or any part thereof. To HOLD the said premises hereunder expressly demised unto the Lessee for the term of 15 years computed from the date of allotment, 1 April 1995 upto 31 March 2010, paying therefore, the Quarterly Rental during the said term unto the Lessor through demand drafts of Nationalised Bank or as may be otherwise required by the lessor the said Quarterly Rent of Rs. 15,650/- (effective from 1-1-96, the Terms”prerevised quarterly rent upto 31.12.95 being Rs.8803/-) in advance being the rent by the Lessor without any deductions whatsoever. The lease rent shall be revisable next with effect from 1-1-98 and (as every three years thereafter, subject to a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach maximum of or fail to fulfil any 25% of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term last lease rent payable in respect of which the Service Provider has defaulted or which is unfulfilled by the Service Providerdemised premises. 2. The Guarantor shall be liable lease with intent to and indemnify bind all persons into whatsoever hands the Authority for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority demised premises may suffer or incur by reason of the said failure or breach. The Guarantor shall be liable to and indemnify the Beneficiary and the Authority that is a party to the Framework Agreement or the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreement. The Guarantor shall be, and shall continue to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable against, the Service Provider, for any reason whatsoever. No alterations in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition come doth hereby covenant with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed lessor as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority shall be entitled to assign or transfer all or any of the Authority’s rights under this guarantee without consent of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreement.follows:

Appears in 1 contract

Samples: Lease Agreement (Complete Business Solutions Inc)

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably and unconditionally guarantees to the Authority the due and punctual performance by the Service Provider of all the obligations on the part of the Service Provider under or pursuant to the Framework Agreement (“the Terms”) and (as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term in respect of which the Service Provider has defaulted or which is unfulfilled by the Service Provider. The Guarantor shall be liable to and indemnify the Authority for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority may suffer or incur by reason In pursuance of the said failure or breach. The Guarantor shall be liable to Agreement for Sale dated and indemnify in consideration of the Beneficiary and sum of /- (Rupees only) already paid by the Authority that is a party Purchaser to the Framework Agreement or the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreement. The Guarantor shall be, and shall continue to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable against, the Service Provider, for any reason whatsoever. No alterations in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may Developer from time to time notify as per Receipt below (the receipt whereof the Developer doth hereby and also by the receipt hereunder written admit and acknowledge to have been received and of and from the payment of the same and every part thereof do hereby acquit release and discharge the Purchaser and the said UNIT measuring a super built up area of sq.ft. more or less and one car parking space measuring an are of sq.ft. hereby intended to be sold and transferred) the Vendor and the Developer doth hereby grant sell transfer convey assure and assign Undivided, impartible, proportionate and variable share and/or interest in writing the common portions, amenities, facilities, of the said Block, The said Building complex, as be attributable and appurtenant to the other party‘said Flat’. A notice The said “Common portion, amenities and facilities” are morefully described in the Fourth Schedule hereinbelow ALONG WITH the liability of payment of common expenses and maintenance charge mentioned in the FIFTH SCHEDULE hereunder written AND observing the common restrictions as enumerated mentioned in the SIXTH SCHEDULE hereunder written ALONG WITH common rights of easement and facilities and the Developer doth hereby grant sell transfer convey assure and assign the constructed portion of the ALL THAT piece and parcel of Flat/Unit No. measuring a super built up area of sq.ft. more or demand served by first class post shall be deemed duly served less situated on the second business day after of the date Block of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, Building at the said Premises TOGETHER WITH one covered car parking space more particularly described in the case of a letterSECOND SCHEDULE hereunder written TOGETHER WITH proportionate share into or upon the common areas, that such letter was properly stamped or franked first class, addressed installation and placed facilities provided in the post. The Authority shall be entitled to assign or transfer all or any building constructed on the Second Portion unto and in favour of the Authority’s rights under this guarantee without consent Purchaser (the Flat/Unit No. , one covered car parking space and the said undivided proportionate variable share(s) in the land and common areas and installations are hereinafter collectively referred to as THE SAID UNIT AND THE PROPERTIES APPURTENANT THERETO) absolutely and forever free from all encumbrances charges liens lispendens attachments trusts whatsoever or howsoever TOGETHER WITH the right to use the common areas and installations in common with the Vendor, the Developer, the Co-Purchasers and the owners and other lawful occupants TOGETHER WITH other stipulations and provisions in connection with the beneficial use and enjoyment of THE SAID UNIT AND THE PROPERTIES APPURTENANT THERETO TO HAVE AND TO HOLD THE SAID UNIT AND THE PROPERTIES APPURTENANT THERETO hereby sold transferred and conveyed and every part or parts thereof unto and to the use of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be Purchaser SUBJECT TO the same as that restrictions and/or Rules regarding the user of the Framework Agreement.said UNIT (more fully and particularly mentioned and described in the SIXTH SCHEDULE hereunder written) AND ALSO SUBJECT TO the Purchaser making payment of the maintenance charges and other charges payable in respect of THE SAID UNIT AND THE PROPERTIES APPURTENANT THERETO more particularly described in the FIFTH SCHEDULE hereunder written to the maintenance Company to be formed by the Vendor and the Developer: II AND THE VENDOR AND THE DEVELOPER HEREBY COVENANT WITH THE PURCHASER as follows:-

Appears in 1 contract

Samples: Proforma of Agreement for Sale

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably I. In consideration of the premises and unconditionally guarantees in consideration of the sum of Rs. (Rupees ) only paid by the Purchaser to the Authority Owners\Vendors towards the due sale of the Said unit AND THE RIGHT AND PROPERTIES APPURTENANT THERETO the construction cost of the said Unit and punctual performance the proportionate share in the common areas the receipt whereof the Owners\Vendors do hereby as also by the Service Provider Receipt and Memo hereunder written admit and acknowledge and of and from the payment of the same forever release, discharge and acquit the Purchaser and the said Unit, the right and properties appurtenant thereto and the said Unit and the proportionate share in the common areas respectively the Owners\Vendors do and each of them doth hereby grant, sell, convey, transfer, assign and assure absolutely and forever by way of absolute sale, free from all encumbrances to you the Purchaser, named above the undivided impartible proportionate share out of the land along with ALL THAT residential Flat no. ( BHK) on the (Floor) measuring including Carpet Area Sqft.. Balcony Area Sqft.. with right to use and enjoy the common portions with other owners and occupiers of the Building Complex named and known as “XXXXXX” and which are hereinafter collectively referred to as the said Unit as detailed in the Schedule-“D” below, for a sum of Rs. (Rupees ) only which the Owners\Vendors have received excluding GST, Registration Cost and/or any other taxes as fixed by the Govt. as on the day of registration. And agrees that from this day the Owners\Vendors have lost all its right, title and interest in respect of the flat in question along with its undivided impartible proportionate share in the land therein and makes you, the Purchaser, the owner thereof and duly delivers possession of the said flat to you this day. That the Owners\Vendors, hereby further agree that you the Purchaser can get your name recorded in the records of Puri Municipality. So far as Purchaser flat is concerned and shall enjoy the flat fully (for residential purpose only) That you the Purchaser shall become a member of the Association alongwith other Co-Flat Owners and shall contribute the Association charges as decided by the flat owners from time to time. That the Purchaser shall pay and discharge all taxes, rents, charges and other outgoing payable to Revenue, Municipality, Urban, CESU, P.H.D., Govt. and other authorities levied in respect of the unit as described in Schedule-D. That the Purchaser shall have every right of common and joint enjoyment of the common area and shall have no right to cause any hindrance obstruction or nuisance over the same. That the Purchaser or the Association shall have no right over the roof top of the entire building and the roof top shall not be included either in the purchase area or in the common areas of the apartment. Therefore, neither the Purchaser nor the Association can claim any right, title or interest in or possession over the roof top of the said multi-storied building. The Owners\Vendors shall have every right to raise further constructions over the roof top subject to the approval of the appropriate authority. And whereas the percentage of the undivided interest accrued to the purchaser in the common area facilities as expressed in the declaration shall not be offered without the consent of all the obligations on the part apartment owners expressed in an amended declaration apartment act. The percentage of the Service Provider under or pursuant undivided interest in the common areas and facilities shall not be separated from the apartment to the Framework Agreement (“the Terms”) and (as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term in respect of which the Service Provider has defaulted or which is unfulfilled by the Service Provider. The Guarantor shall be liable to and indemnify the Authority for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority may suffer or incur by reason of the said failure or breach. The Guarantor shall be liable to and indemnify the Beneficiary and the Authority that is a party to the Framework Agreement or the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreement. The Guarantor shall beit appertains, and shall continue be deemed to bebe conveyed or encumbered along with the apartment even though such interest is not expressly mentioned in this deed of conveyance. That the Owners\Vendors, liable under this Agreement even if represent that the Framework Agreement is conveyed flat alongwith its undivided impartible proportionate interest has not been transferred or becomes for any reason not binding on, or unenforceable against, encumbered the Service Provider, for any reason whatsoever. No alterations in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall same in any way release or reduce before to any liability third party. That above all the Owners\Vendors, hereby absolutely transfers the flat in question along with the impartible undivided proportionate share in the land in favour of Purchaser and quite enjoyment by the purchaser of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority shall be entitled to assign or transfer all or any of the Authority’s rights under this guarantee without consent of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreementconveyed property.

Appears in 1 contract

Samples: Deed of Sale

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NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably In pursuance of the above mentioned construction agreement and unconditionally guarantees in consideration of the sum of Rs……………../- (Rupees Only) paid by the Purchaser to the Authority VENDORS in the due presence of witnesses to this deed the receipt of which payment the VENDORS doth hereby acknowledge, the VENDORS hereby convey, transfer and punctual performance assign all that property more fully described in Schedule ‘B’ hereunder together with all rights, ways, liberties, privileges, easements, advantages, appurtenances whatsoever with regard to the property hereby conveyed and all the rights, title, interest and property-claim and demand whatsoever of the VENDORDS unto or upon the said property and every part thereof, to have and to hold the property hereby conveyed unto the Purchaser in the manner aforesaid. And the Purchaser will hereafter peacefully hold, use and enjoy the ‘B’ Schedule property as the Purchaser property without any hindrance, interruption claim or demand by or from the VENDORS and all persons claiming under the VENDORS. And that the VENDORS and all persons claiming under the VENDORS shall and will from time to time upon the request and cost of the Purchaser do and execute or cause to be done or executed all such acts, deeds and things whatsoever for further and more fully and perfectly assuring the said property and every part thereof unto the Purchaser and placing the Purchaser in possession of the same according to the true intent and meaning of these presents as shall or may be required. VENDORS PURCHASER (BY POWER AGENT) The VENDORS and the authorized Agents and Nominees of the VENDORS shall always have the right, power and authority to dig, lay and repair the water pipe lines, sewerage and drain pipe lines, telephone cables and wires and electricity cables and wires in, over, under or upon the land that is being sold by the Service Provider Promoters to the Purchaser herein for providing and for the proper maintenance and upkeep of the aforesaid common amenities being provided to the various flats, and tenements being constructed over the said land. The VENDORS hereby covenant with the Purchaser that the interest hereby conveyed subsists and the VENDORS have absolute title and power to transfer the same. The VENDORS hereby covenant with the Purchaser that there are no litigations pending before any Courts of law with respect to the said land, Project of the Apartment. The VENDORS hereby covenant with the Purchaser that there is no subsisting encumbrance whatsoever over the property hereby conveyed nor have the VENDORS subjected the same to any encumbrance whatsoever and that the property hereby conveyed is sold free of all encumbrance. The Schedule property is not the obligations on subject matter of HUF and no part thereof is owned by any minor and/or no minor has any right, title and claim over the part schedule property; No Notice from the Government or any other local body or authority or any legislative enactment, government ordinance, order, notification (including any notice for acquisition or requisition of the Service Provider under said property) has been received by or pursuant to served upon the Framework Agreement (“the Terms”) and (as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term VENDORS in respect of which the Service Provider has defaulted or which is unfulfilled by the Service Providersaid land. The Guarantor shall be liable VENDORS further covenant with the Purchaser that the land allocated for construction as per Approved plan in the ‘A’ Schedule land will always remain impartiable and the VENDORS have delivered symbolic possession of the ‘B’ Schedule undivided part of land to the Purchaser. The VENDORS hereby agree to keep indemnified the Purchaser from and indemnify the Authority for against all losses, damages, expenses, liabilities, claims, costs or proceedings expenses which the Authority Purchaser may suffer sustain or incur by reason of any adverse claim being made by anybody to the said failure or breachproperty. The Guarantor shall be liable VENDORS have this day delivered to the Purchaser the xerox copies of the title deeds and indemnify other connected documents pertaining to the Beneficiary property hereby conveyed. The Power of Attorney is still in force as on date. The persons who have executed the Power of Attorney is aware of this Deed of Sale. VENDORS PURCHASER (BY POWER AGENT) DESCRIPTION OF PROPERTY SCHEDULE –A In Coimbatore Registration District, Gandhipuram Sub-Registration District,Coimbatore Taluk, Chinnavedampatti Village, (Now within CoimbatoreCorporation Limits) North of Common road in S.F.Nos.541/2C1E, 541/2C1D (P) and Land in S.F.Nos.526 (P) & 525/2 (P) East of Land in S.F.Nos.492/2, 493/1A and Vaikal in S.F.No.528/1. South of Land in S.F.Nos.528/2A2 (P), 527/1A (P) & 541/2A1 (P West of Common road running from North-South, in S.F.Nos.541/2A1(P), 541/2A2(P), 541/2A3(P), 541/2A4(P), 541/2C1A (P), 541/2C1B (P), 541/2C1D (P) & 541/2B. Within the above an extent of 11.13 ¼ Acres (4.50.52 Hectares) (EXCLUDING vaikal running from East to West passing through S.F.No.541, 527 & 528 and noted as 541/2B, 527/2 and 528/2B) of lands with a right to use all the mamool and common roads as ingress & engress to reach the lands with all appurtenances attached thereto. Within the above an extent of 1.83 Acres of lands with a right to use all the mamool and common roads as ingress and engress to reach the lands with all appurtenances attached thereto in S.F.Nos.527/1B2, 527/1C2, 527/1D2, 541/2A2A, 541/2A3A AND 541/3 in Chinnavedampatti Village as detailed below: X.X.Xx. 527/1B2 0.13.90 HECTRE 527/1C2 0.13.00 HECTRE 527/1D2 0.05.90 HECTRE 541/2A2A 0.19.50 HECTRE 541/2A3A 0.18.50 HECTRE 541/3 0.03.20 HECTRE ---------------------- 0.74.00 HECTRE Equivalent to 1.83 ACRES Within the following boundaries: North of S.F.No.541/2A4A, 527/1D1 South of S.F.No.527/1A2B & 541/2A1A2 East of S.F.No.527/1B1,527/1C1,527/1D1 West of S.F.No.541/2A2B,541/2A3B VENDORS PURCHASER (BY POWER AGENT) Land measuring: 399.005 links – East West on the South 395.025 links – East West on the North 411.940 links – North South on the East 529.353 links – North south on the West, admeasuring 1.83 acres of vacant land. The above said property admeasuring an extent of 7400 sq.mts of land is covered by this Sale Deed. The property situates within the limits of Coimbatore Municipal Corporation. In Schedule A property which is earmarked for construction of Apartments and Buildings, an extent of ….. sq.ft or ……… sq.metres of undivided share of land with the right to use the common amenities, layout roads and all common areas in the layout. The above mentioned undivided share of land is in of Schedule A property and the Authority that property is a party to situated in in “XXXXXXXXX XXXXX VILLAGE.”, in S.F.Nos. 527/1B2, 1C2,1D2, 541/2A2A,2A3A,3, within the Framework Agreement or the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreementlimits of Coimbatore Municipal Corporation. The Guarantor shall becurrent market value of the property is Rs /- (Rupees ……………………………………………….. Only). In witness whereof both the parties have signed this deed of sale on the day, month and shall continue to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable against, the Service Provider, for any reason whatsoever. No alterations year first above written in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability presence of the Guarantor hereunderfollowing witnesses. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstandingVENDORS PURCHASER (BY POWER AGENT) WITNESSES: the insolvency or liquidation of the Service Provider, the Guarantor or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority shall be entitled to assign or transfer all or any of the Authority’s rights under this guarantee without consent of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreement1.

Appears in 1 contract

Samples: www.sreevatsa.com

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably LESSOR grants unto the LESSEE complete and unconditionally guarantees uninterrupted enjoyment of the Premises for residential purposes of ____________________________ –____________________ representative of the LESSEE at the rent hereinafter reserved and on the terms and conditions hereinafter contained. The duration of the lease, and occupancy and use of the Premises by the LESSEE will be for an initial period of 11 (eleven) months, commencing from ___________ upto __________________, with an option to the Authority LESSEE to renew the due and punctual performance lease for a further period of 11 (eleven) months only on mutually acceptable terms & conditions; on escalation of the rent paid as mentioned in clause 3 herein below. The LESSEE shall pay the Lessor from ________________ (hereinafter “Effective Date”) subject to the Lessor handing over possession of the Premises to the LESSEE, a monthly rent of ___________ (Rupees _________________ Only) inclusive of maintenance per month (hereinafter “Rent”) for the first term of 11 (eleven) months of the lease. The Rent shall be payable before the 10th (tenth) day of the calendar month following the month to which it relates, subject to tax deduction at source as statutorily applicable. In the event of the LESSEE renewing the lease for a further term, the Rent payable on such renewal shall be subject to an escalation of 5% on the previous terms’ Rent. The LESSEE shall pay a Sum of Rs._____________(Rupees _________________ Only) by Demand Draft to the LESSOR with in _______days from the date of signing this Lease on which date the LESSOR shall acknowledge receipt for the same. The security deposit will be refunded in full by the Service Provider of all LESSOR to the obligations Lessee, without any interest thereon, on the part expiry of or earlier termination of the Service Provider under or pursuant to lease created by this Deed. The Rent is inclusive of monthly maintenance charges and is exclusive of any payment towards telephones, electricity, cable TV and water charges, which shall be borne by the Framework Agreement (“LESSEE, during the Terms”) and (as a separate stipulation and as primary obligor) agrees period that if the Service Provider shall LESSEE is in any respect commit any breach of or fail to fulfil any occupation of the TermsPremises. Any arrears in this regard, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term in respect of which the Service Provider has defaulted or which is unfulfilled by the Service Provider. The Guarantor shall be liable prior to and indemnify the Authority for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority may suffer or incur by reason occupation of the said failure or breachPremises by XXXXXX, will be borne by the Lessor. The Guarantor LESSEE shall pay the electricity charges to _____________as consumed by him, which is recorded in the electricity meter no. ___________________ & telephone charges to ___________ for the telephone installed by the LESSOR as per clause 13(a) & shall then send the receipts to the LESSOR by post. The LESSEE shall keep the premises together with the fixture and fittings [as listed in attached Annexure] therein in good order and shall not cause or suffer any damage to the same subject to normal wear and tear and casualty damage. The LESSOR covenants with the LESSEE that, on the LESSEE duly paying the Rent reserved, the LESSEE shall be liable entitled to complete, uninterrupted and indemnify peaceful occupation and enjoyment of the Beneficiary and Premises during the Authority that is a party to subsistence of this lease. The LESSEE shall not sublet, transfer or assign its lease – hold rights, keep any paying guest/s or part with possession of the Framework Agreement schedule premises or any portion thereof in favour of any third person/s, on any terms or conditions. The LESSEE shall use the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform schedule premises for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary residential purpose only. It shall not indulge in any activities prohibited under the Contracts; and law at the Authority under schedule premises nor shall it use the Framework Agreementsame for storage or warehouse purpose especially for storage of hazardous or chemical substances, if any, except storage of materials as may be required for household purposes of the occupants. The Guarantor LESSEE shall bekeep and maintain the schedule premises in good and tenantable condition, without causing any damage, structural alterations or put up/ install any additions, permanent structures, etc. in the schedule premises except with the prior written consent of the LESSOR, which consent shall not be unreasonably refused or withheld. The LESSOR has paid and shall continue to bepay all present and future taxes, liable under this Agreement even if municipal and local levies, rates, cess, and any other dues (“Taxes”) levied by the Framework Agreement is or becomes for any reason not binding on, or unenforceable againstGovernment of ___________________________, the Service ProviderCentral Government, for any reason whatsoever. No alterations in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or ________________________ Apartment Owners Association and/or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreementstatutory authorities, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance the Schedule Premises, including ground rent and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will proveproperty tax, and turn over shall not let them remain in arrears. The LESSOR shall also be liable to pay any realisations increase in Taxes. The LESSOR shall : Prior to the AuthorityEffective Date have installed 1 (one) [D.O.T.] __________ telephone line at the Premises. At their own cost carry out structural and/or major repairs including leakage of roof, electricity wiring or bursting of water pipes or defective sewerage system or other such major defects in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with Schedule Premises upon the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given LESSEE’s request in writing and then only further the LESSOR shall obtain the previous sanction of civil and municipal authorities as and when required under municipal and/or civic laws and regulations; it being hereinafter clarified that in the instance and for event any repairs requested by the purpose for which it is given. If at any time any one or more of LESSEE are not carried out by the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any lawLESSOR within a reasonable period, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority LESSEE shall be entitled to assign get the repair work executed on their own and recover the expenses incurred by them in respect thereof, including by way of deduction of such expenses from the Rent. At all times during the Term, by responsible to keep the sewers, drains, water pipes, electric cables, wires and supply lines, in relation to the Premises, in order. Ensure that the Premises has a sanctioned electricity and power load. Acknowledge and issue receipts for each and every payment made by the LESSEE to the LESSOR and such receipts shall be stamped and signed by the LESSOR, or transfer all their representative that shall be conclusive proof of such payments. The LESSOR or XXXXXX’s authorized representatives shall be entitled during the Term to enter the Schedule Premises during a reasonable time upon giving not less than 48 (forty eight) hours prior notice of its intention to the LESSEE, for the purpose of inspecting the condition of the Premises. Upon the occurrence of any of the Authority’s rights under this guarantee without consent following events including fire, accident, riots, flood, earthquake, storm, terrorist activities, war, act of God, any governmental or municipal action, prohibition or restriction which in any way adversely affects the right of the Guarantor. Nothing LESSEE to enjoy or use the Schedule Premises (hereinafter “Force Majeure”), the payment of Rent from the LESSEE to the LESSOR in accordance with this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee Lease Deed shall stand suspended during the subsistence of such Force Majeure. The Term shall automatically stand extended during the operation/occurrence or continuance of the Force Majeure. The LESSEE as the party affected by the Force Majeure, may notify the LESSOR in writing, upon which the Force Majeure suspension would be deemed to have commenced. If such Force Majeure continues to operate exceeding 15 (fifteen) days, the lease may be continued or terminated at the option of the LESSEE in terms of this Lease Deed. The lease created by this Lease Deed is valid for a partyperiod of 11 (eleven) months and the LESSEE shall vacate and hand over the vacant physical possession of the Schedule Premises to the LESSOR and/or LESSOR’s nominee, simultaneously with the refund of the Security Deposit and other outstanding sums by the LESSOR to the LESSEE, unless on or before 1 (one) month prior to the expiry of the Term, both the Parties have agreed to extend the lease for a further period of 11 (eleven) months and entered into a fresh Lease Deed for a further period of 11 (eleven) months with an escalation of 5% on the previous monthly rent (__________________ per month for the next 11 months). The Contracts (Rights following handing over provision will apply when the Schedule Premises are handed over by the LESSEE to the LESSOR : The LESSEE shall have the duty to deliver the vacant physical possession of Third Parties Act) 1999, the Schedule Premises at the end of the Term of this Lease Deed or any amendment or re-enactment thereofapplicable renewal period in substantially the same condition as when the LESSEE first occupied the Schedule Premises. Notwithstanding the above, accordingly the LESSEE is not responsible for reasonable wear and tear, and shall not applyundertake repairs & replacement of damaged fixture, fittings, if any and cause periodical white wash, color paint to the Schedule premises at his own cost & deliver it along with such leasehold improvement work and subsequent additions and improvements made hereunder. The proper law Subject to other provisions of this guarantee lease, the Security Deposit will be refunded in full by the LESSOR to the LESSEE, without any interest thereon, on LESSEE handing over the vacant physical possession of Schedule Premises to the LESSOR after deduction of any sum for any rent arrears & cost of damages to the Premises leased. Inspite of what has been stated earlier in this Lease Deed if the LESSOR do not pay any outstanding amount upon the expiry or the earlier termination of this Lease Deed, then and in that event, without prejudice to the LESSEE’s right to recover the said amount, the LESSEE shall be entitled to receive the same as that outstanding amount along with the existing rate of Bank interest, from the Framework Agreementdate the amount becomes due till date of realization.

Appears in 1 contract

Samples: Residential Lease Deed

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably and unconditionally guarantees to the Authority the due and punctual performance by the Service Provider of all the obligations on the part of the Service Provider under or pursuant to the Framework Agreement (“the Terms”) and (as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term in respect of which the Service Provider has defaulted or which is unfulfilled by the Service Provider. The Guarantor shall be liable to and indemnify the Authority for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority may suffer or incur by reason In pursuance of the said failure or breach. The Guarantor shall agreement and in consideration of the rent hereby reserved and of the covenants, conditions and stipulations hereinafter contained and on the Lessee‟s part to be liable to paid, observed and indemnify performed, THE LESSOR HEREBY DEMISES UNTO THE LESSEE ALL THAT the Beneficiary building situated at[Lease Property Address] andhereinafter called as the demised premises ,TOGETHER WITH ALL the fixtures and fitting therein, TOGETHER WITH the Authority that is a party to electrical installations and together with the Framework Agreement or right for the Contracts that has been breached Lessee, its employees,servants,agents,customers and persons authorized by the Service Provider or which lessor to use the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; entrances,doorways,entrance hall,staircases,landings and the Authority under the Framework Agreement. The Guarantor shall be, and shall continue to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable against, the Service Provider, for any reason whatsoever. No alterations passages in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and demised premises for the purpose of ingress thereto, TO HOLD the demised premises unto the Lessee for the period of [Lease Term in months or years]only commencing from the[Lease date start date]and determined on[Lease deed signing date] but determinable earlier as hereinafter provided PAYING therefor unto the Lessor during the said term monthly rent of Rs.[Lease Amount per month] payable by the [Date of monthly payment] of each succeeding calendar month to which it is given. If at any time any one or more of the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority shall be entitled to assign or transfer all or any of the Authority’s rights under this guarantee without consent of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreement.relates .IT IS HEREBY MUTUALLY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

Appears in 1 contract

Samples: Commercial Lease Agreement

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably and unconditionally guarantees possession of said property will be given to the Authority TENANTE by LAND LOARD and The tenancy shall commence w.e.f. 19/11/2021 and shall remain for a period of 11 Month i.e. upto 18/10/2022 the due tenancy can be extended or renewed at the end of this tenancy period with the increase of rent @ 10% by mutual consent . That the TENANT SHALL pay to the LAND LORD for the above said Property the rent of Rs. 5000 /- (Five Thousand Only ) Par month in advance on or before 5th day of every English Calendar Month. That the Lessee also agrees to pay. Rs. 5000/- (Three Thousand Only) as interest Free security to the Tenant by Cash/ Cheque, Which is refundable after deducting the electricity, water or any charges if any , the time of handing over. The peace full vacant possession of the Property to the LAND LORD. That the TENANT shall use the property exclusively for the property exclusively for the Residential Purpose and punctual performance shall not sublet the property without the written permission of the LAND LORD. That the TENANT shall pay electricity charges according to consumption of electricity units as per Meter at prescribed rates of Dakshin Haryana Bijli Vitaran Nigan Ltd. Every month to the concerned authority. That the Tenant shall pay for water, security, cleaning regulatory charges, Maintenance Charges as per the bills from the appropriate authorities. That the TENANT shall comply with all the rules and regulations of the local authorities whatsoever in relation to the said property That the TENANT shall not carry out any structural additions or alterations to the building layout fittings and fixture without the prior written consent of the LAND LORD. That the TENANT at the time of occupation shall see that all the electric, sanitary fittings and fixtures are intact and or in perfect working order. The TENANT shall be restoring them in the same conditions except natural wear and tear and damages by act of nature. That the TENANT shall permit the LAND LORD or any of his/ her. Their authorized agent to enter upon the said property for inspection and to carry the necessary repair at all reasonable times. That day today repairs such as fuses, leakage of water taps etc. have to be done by the Service Provider TENANT at his own costs. That at the expiry of all Rent period the obligations on TENANT shall handover the part of the Service Provider under or pursuant to the Framework Agreement (“the Terms”) and (as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term in respect of which the Service Provider has defaulted or which is unfulfilled by the Service Provider. The Guarantor shall be liable to and indemnify the Authority for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority may suffer or incur by reason physical vacant possession of the said failure or breach. The Guarantor shall be liable to and indemnify the Beneficiary and the Authority that is a party property to the Framework Agreement LAND XXXX With all the fittings fixtures intact and in perfect working order except natural wear and tear. That in case the TENANT makes default in making the payments of rent or the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreement. The Guarantor shall be, and shall continue to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable against, the Service Provider, for any reason whatsoever. No alterations in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or commits any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions breach of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, deed the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may from time to time notify in writing to the other party. A notice or demand served by first class post shall be deemed duly served on the second business day after the date of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, in the case of a letter, that such letter was properly stamped or franked first class, addressed and placed in the post. The Authority LAND LOARD shall be entitled to assign or transfer all or any get back the possession of the Authority’s rights under property immediately thereafter according to law. That this guarantee without consent of the GuarantorRent can be terminated by both parties by serving one month written notice. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party)IN WITNES WHERE OF THE PARTIES ABOVE NAMED HAVE AFFIXED THEIR SIGNATURES ON THIS DEED OF AGREEMENT ON THE DATE MONTH AND YEAR WRITER IN THE PRESENCE OF THE WITNESS GIVEN BELOW. The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be the same as that of the Framework Agreement.WITNESSES LAND LORD TENANT

Appears in 1 contract

Samples: Rent Agreement

NOW THIS DEED WITNESSETH as follows. The Guarantor hereby absolutely irrevocably and unconditionally guarantees to the Authority the due and punctual performance by the Service Provider of all the obligations on the part of the Service Provider under or pursuant to the Framework Agreement (“the Terms”) and (as a separate stipulation and as primary obligor) agrees that if the Service Provider shall in any respect commit any breach of or fail to fulfil any of the Terms, then the Guarantor will forthwith perform and fulfil in place of the Service Provider each and every Term in respect of which the Service Provider has defaulted or which is unfulfilled by the Service Provider. The Guarantor shall be liable to and indemnify the Authority for all losses, damages, expenses, liabilities, claims, costs or proceedings which the Authority may suffer or incur by reason In pursuance of the said failure or breach. The Guarantor shall be liable to Agreement for Sale dated _ and indemnify in consideration of the Beneficiary and sum of _/- (Rupees only) already paid by the Authority that is a party Purchaser to the Framework Agreement or the Contracts that has been breached by the Service Provider or which the Service Provider has failed to perform for all losses, damages, expenses, liabilities, claims, costs or procedures to the extent that the Service Provider is liable to: the Beneficiary under the Contracts; and the Authority under the Framework Agreement. The Guarantor shall be, and shall continue to be, liable under this Agreement even if the Framework Agreement is or becomes for any reason not binding on, or unenforceable against, the Service Provider, for any reason whatsoever. No alterations in the Framework Agreement, or in the Services, and no extension of time, forbearance or forgiveness, nor any act, matter or thing whatsoever except an express release by the Authority, shall in any way release or reduce any liability of the Guarantor hereunder. References to the Framework Agreement in this Agreement shall include all amendments, variations and additions to it, whether made before or after the date hereof. This guarantee shall remain in full force and effect until performance in full of the Terms, notwithstanding: the insolvency or liquidation of the Service Provider, the Guarantor or any other person; any disclaimer of the Framework Agreement by a liquidator of the Service Provider; and/or any feature of the Framework Agreement, the negotiations prior to the Service Provider and the Authority entering into the Framework Agreement, or the performance of the Framework Agreement, making it ineffective or unenforceable. Until the Terms have been unconditionally and irrevocably performed in full, the Guarantor shall not by virtue of any performance or payment made by it or otherwise: be subrogated to any rights, security or moneys held or received or receivable by the Authority; or be entitled to exercise any right of contribution from any co-surety in respect of such performance and liabilities under any other guarantee, security or agreement; or exercise any right of set-off or counterclaim against the Service Provider or any such co-surety; or receive, claim or have the benefit of any payment, distribution, security or indemnity from the Service Provider or any such co-surety; or unless so directed by the Authority (when the Guarantor will prove, and turn over any realisations to the Authority, in accordance with such directions) claim as a creditor of the Service Provider or any such co-surety in competition with the Authority. No delay or omission of the Authority in exercising any right, power or privilege hereunder shall impair such right, power or privilege or be construed as a waiver of such right, power or privilege nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Authority herein provided are cumulative and not exclusive of any rights or remedies provided by law. A waiver given or consent granted by the Authority under this guarantee will be effective only if given in writing and then only in the instance and for the purpose for which it is given. If at any time any one or more of the provisions of this guarantee is or becomes invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof shall not be in any way affected or impaired thereby. As a separate and alternative stipulation the Guarantor unconditionally and irrevocably agrees that any sum expressed to be payable by it or obligation to be performed by it under this guarantee but which is for any reason (whether or not now existing and whether or not now known or becoming known to the Guarantor) not recoverable from or enforceable against the Guarantor on the basis of a guarantee shall nevertheless be recoverable from or enforceable against the Guarantor as if the Guarantor were the sole principal debtor or obligor (where relevant). Any notice, demand or other communication to be served under this guarantee may be served upon either party hereto only by posting by first class post to be served at its address shown below: Authority: Guarantor: For the attention of or at such other address as the receiving party may Developer from time to time notify as per Receipt below (the receipt whereof the Developer doth hereby and also by the receipt hereunder written admit and acknowledge to have been received and of and from the payment of the same and every part thereof do hereby acquit release and discharge the Purchaser and the said UNIT measuring a super built up area of _ sq.ft. more or less and one car parking space measuring an are of sq.ft. hereby intended to be sold and transferred) the Vendor and the Developer doth hereby grant sell transfer convey assure and assign Undivided, impartible, proportionate and variable share and/or interest in writing the common portions, amenities, facilities, of the said Block, The said Building complex, as be attributable and appurtenant to the other party‘said Flat’. A notice The said “Common portion, amenities and facilities” are morefully described in the Fourth Schedule hereinbelow ALONG WITH the liability of payment of common expenses and maintenance charge mentioned in the FIFTH SCHEDULE hereunder written AND observing the common restrictions as enumerated mentioned in the SIXTH SCHEDULE hereunder written ALONG WITH common rights of easement and facilities and the Developer doth hereby grant sell transfer convey assure and assign the constructed portion of the ALL THAT piece and parcel of Flat/Unit No. measuring a super built up area of sq.ft. more or demand served by first class post shall be deemed duly served less situated on the second business day after of the date Block of posting. For the purposes of this paragraph “business day” means a day on which commercial banks are open for business in London. In proving service of any notice it will be sufficient to prove, Building at the said Premises TOGETHER WITH one covered car parking space more particularly described in the case of a letterSECOND SCHEDULE hereunder written TOGETHER WITH proportionate share into or upon the common areas, that such letter was properly stamped or franked first class, addressed installation and placed facilities provided in the post. The Authority shall be entitled to assign or transfer all or any building constructed on the Second Portion unto and in favour of the Authority’s rights under this guarantee without consent Purchaser (the Flat/Unit No. , one covered car parking space and the said undivided proportionate variable share(s) in the land and common areas and installations are hereinafter collectively referred to as THE SAID UNIT AND THE PROPERTIES APPURTENANT THERETO) absolutely and forever free from all encumbrances charges liens lispendens attachments trusts whatsoever or howsoever TOGETHER WITH the right to use the common areas and installations in common with the Vendor, the Developer, the Co-Purchasers and the owners and other lawful occupants TOGETHER WITH other stipulations and provisions in connection with the beneficial use and enjoyment of THE SAID UNIT AND THE PROPERTIES APPURTENANT THERETO TO HAVE AND TO HOLD THE SAID UNIT AND THE PROPERTIES APPURTENANT THERETO hereby sold transferred and conveyed and every part or parts thereof unto and to the use of the Guarantor. Nothing in this guarantee confers or purports to confer any right to enforce any of its terms on any person who is not a party to it (except any successor or any permitted assignee of such a party). The Contracts (Rights of Third Parties Act) 1999, or any amendment or re-enactment thereof, accordingly shall not apply. The proper law of this guarantee shall be Purchaser SUBJECT TO the same as that restrictions and/or Rules regarding the user of the Framework Agreement.said UNIT (more fully and particularly mentioned and described in the SIXTH SCHEDULE hereunder written) AND ALSO SUBJECT TO the Purchaser making payment of the maintenance charges and other charges payable in respect of THE SAID UNIT AND THE PROPERTIES APPURTENANT THERETO more particularly described in the FIFTH SCHEDULE hereunder written to the maintenance Company to be formed by the Vendor and the Developer: II AND THE VENDOR AND THE DEVELOPER HEREBY COVENANT WITH THE PURCHASER as follows:-

Appears in 1 contract

Samples: 202.61.117.163

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