Common use of POSSESSION OF THE PLOT Clause in Contracts

POSSESSION OF THE PLOT. 6.1 Schedule for possession of the said Plot - The Seller agrees and understands that timely delivery of possession of the Plot to the Purchaser amenities and facility unless there is delay or failure due to unavailability of construction material, labor, war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature or legal complication affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Purchaser agrees that the Seller shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Purchaser agrees and confirms that, in the event it becomes impossible for the Seller to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Seller shall refund to the Purchaser the entire amount received by the Seller from the allotment within 45 days from that date. The Seller shall intimate the Purchaser about such termination at least thirty days prior to such termination. After refund of the money paid by the Purchaser, the Purchaser agrees that he/ she shall not have any rights, claims etc. against the Seller and that the Seller shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE PLOT. 6.1 Schedule for possession of the said Plot - The Seller Promoter agrees and understands that timely delivery of possession of the Plot Plot] to the Purchaser amenities and facility allottee. The Promoter assures to hand over possession of the Plot on Xxxxxxxxxx Residency , unless there is delay or failure due to unavailability of construction material, labor, war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature or legal complication affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Purchaser Allottee agrees that the Seller Promoter shall be entitled to the extension of time for delivery of possession of the [Plot], provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Purchaser Allottee agrees and confirms that, in the event it becomes impossible for the Seller Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Seller Promoter shall refund to the Purchaser Allottee the entire amount received by the Seller Promoter from the allotment within 45 days from that date. The Seller promoter shall intimate the Purchaser allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the PurchaserAllottee, the Purchaser Allottee agrees that he/ she shall not have any rights, claims etc. against the Seller Promoter and that the Seller Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE PLOT. 6.1 7.1 Schedule for possession of the said Plot - The Seller Promoter agrees and understands that timely delivery of possession of the Plot to the Purchaser amenities and facility aAllottee is the essence of the Agreement. The Promoter assures to hand over possession of the Plot on or before agreed time, unless there is delay or failure due to unavailability of construction material, labor, war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature or legal complication affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure conditions then the Purchaser Allottee agrees that the Seller Promoter shall be entitled to the extension of time for delivery of possession of the Plot, provided that such Force Majeure conditions are not of a nature, which make it impossible for the contract to be implemented. The Purchaser Allottee agrees and confirms that, in the event it becomes impossible for the Seller Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Seller Promoter shall refund to the Purchaser Allottee the entire amount received by the Seller Promoter from the allotment within 45 days from that datereasonable period. The Seller promoter shall intimate the Purchaser Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the PurchaserAllottee, the Purchaser Allottee agrees that he/ she shall not have any rights, claims etc. against the Seller Promoter and that the Seller Promoter shall be released and discharged from all its obligations and liabilities under this Agreement.