Common use of OUTGOING Clause in Contracts

OUTGOING. Any arrears of service/maintenance charges including late penalty interest (if any) which may be lawfully due and payable to any relevant authority and/or Developer as at the date of successful sale shall be borne by the Assignee/Lender and the portion attributable up to the date of the successful sale shall be paid out upon receipt of full auction proceeds including all interest on late payment interest (if any), provided that the Assignee/Lender is in receipt of the itemized billing for service/maintenance charges including late penalty interest (if any) and statement of account issued by relevant authority and/or Developer from the Purchaser within ninety (90) days from the date of the successful sale failing which the purchaser will not be entitle for any claim and any sum due and payable after the date of the sale shall be borne by the Purchaser.

OUTGOING. Any arrears of service/maintenance charges including late penalty interest payment charge (if any) which may be lawfully due and payable to any relevant authority and/or Developer as at the date of successful sale shall be borne by the Assignee/Lender and the portion attributable up to the date of the successful sale shall be paid out upon receipt of full auction proceeds including all interest on late payment interest charges (if any), provided that the Assignee/Lender is in receipt of the itemized billing for service/maintenance charges including late penalty interest (if any) and statement of account issued by relevant authority and/or Developer from the Purchaser within ninety (90) days from the date of the successful sale failing which the purchaser will not be entitle for any claim and any sum due and payable after the date of the sale shall be borne by the Purchaser.

OUTGOING. Any arrears of service/maintenance charges including late penalty interest (if any) which may be lawfully due and payable to any relevant authority and/or Developer as at the date of successful sale shall be borne by the Assignee/Lender Bank and the portion attributable up to the date of the successful sale shall be paid out upon receipt of full auction proceeds including all interest on late payment interest (if any), provided that the Assignee/Lender Bank is in receipt of the itemized billing for service/maintenance charges including late penalty interest (if any) and statement of account issued by relevant authority and/or Developer from the Purchaser within ninety (90) days from the date of the successful sale failing which the purchaser will not be entitle for any claim and any sum due and payable after the date of the sale shall be borne by the Purchaser.