Common use of Payment of Total Payable Amount Clause in Contracts

Payment of Total Payable Amount. 7.1 The Total Payable Amount shall be paid to the Developer strictly in accordance with the Payment Schedule. 7.2 The Developer shall issue demand letters by e-mail/post/courier calling upon the Allottees (the "Payment Notice") to pay such amount (the "Payment") within 15 (fifteen) days of the Payment Notice (the "Notice Period") and the Allottees shall make the Payment within the Notice Period. Along with each Payment Notice, the Developer shall provide to the Allottee a certificate from the Architect of the Project about the actual progress of the building and completion of the construction stage for which Payment Notice has been issued by the Developer. All construction linked instalment payments shall be made subject to the Developer achieving the construction milestones. 7.3 All payments made in cheque/demand draft/pay order/RTGS shall be considered to have been received by the Developer only when the amount of such cheque/demand draft/pay order/RTGS is credited in the account of the Developer. In the event any cheque /demand draft/pay order submitted by any Allottee is returned unpaid, the Allottee shall have to pay, along with the unpaid amount, an additional amount of Rs. 1500/- (Rupees One Thousand Five Hundred only) along with all taxes as may be applicable..

Payment of Total Payable Amount. 7.1 The Total Payable Amount shall be paid to the Developer strictly in accordance with the Payment Schedule. 7.2 The Developer shall issue demand letters by e-mail/post/courier calling upon the Allottees (the "Payment Notice") to pay such amount (the "Payment") within 15 (fifteen) days of the Payment Notice (the "Notice Period") and the Allottees shall make the Payment within the Notice Period. Along with each Payment Notice, the Developer shall provide to the Allottee a certificate from the Architect of the Project about the actual progress of the building and completion of the construction stage for which Payment Notice has been issued by the Developer. All construction linked instalment payments shall be made subject to the Developer achieving the construction milestones. 7.3 All payments made in cheque/demand draft/pay order/RTGS shall be considered to have been received by the Developer only when the amount of such cheque/demand draft/pay order/RTGS is credited in the account of the Developer. In the event any cheque /demand draft/pay order submitted by any Allottee is returned unpaid, the Allottee shall have to pay, along with the unpaid amount, an additional amount of Rs. 1500/- (Rupees One Thousand Five Hundred only) along with all taxes as may be applicable..any

Payment of Total Payable Amount. 7.1 The Total Payable Amount shall be paid to the Developer strictly in accordance with the Payment Schedule. 7.2 The Developer shall issue demand letters by e-mail/post/courier calling upon the Allottees (the "Payment Notice") to pay such amount (the "Payment") within 15 (fifteen) days of the Payment Notice (the "Notice Period") and the Allottees shall make the Payment within the Notice Period. Along with each Payment Notice, the Developer shall provide to the Allottee a certificate from the Architect of the Project about the actual progress of the building and completion of the construction stage for which Payment Notice has been issued by the Developer. All construction linked instalment payments shall be made subject to the Developer achieving the construction milestones. 7.3 All payments made in cheque/demand draft/pay order/RTGS shall be considered to have been received by the Developer only when the amount of such cheque/demand draft/pay order/RTGS is credited in the account of the Developer. In the event any cheque /demand draft/pay order submitted by any Allottee is returned unpaid, the Allottee shall have to pay, along with the unpaid amount, an additional amount of Rs. 1500/- (Rupees 1000/-(Rupees Five One Thousand Five Hundred only) along with all taxes as may be applicable..