Common use of POSSESSION OF THE Clause in Contracts

POSSESSION OF THE. APARTMENT/PLOT: Schedule for possession of the said Apartment: The Promoter agrees and understands that timely delivery of possession of the Apartmentis the essence of the Agreement. The Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment on , unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Apartment, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. After refund of the money paid by the Allottee, Xxxxxxxx agrees that he/she/they/it shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession:The Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the Apartment, to the Allottee in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Promoter shall give possession of the Apartmentto the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee agree(s) to pay the maintenance charges as determined by the Promoter/association of allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee in writing within days of receiving the occupancy certificate* of the Project.

POSSESSION OF THE. APARTMENT/PLOT: 7.1 Schedule for possession of the said Apartment: Residential/ Commercial Space – The Promoter agrees and understands that timely delivery of possession of the Apartmentis Residential/Commercial Space to the ALLOTTEES and the common areas to the association of ALLOTTEESs or the competent authority, as the case may be, is the essence of the Agreement. The Promoter, based on the approved plans and specifications, Promoter assures to hand over possession of the Apartment on Residential/Commercial Space along with ready and complete common areas with all specifications, amenities and facilities of the project in place within the stipulated time, unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting affective 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 Allottee ALLOTTEES agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Apartment, provided Residential/Commercial Space. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee ALLOTTEES agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditionscondition, then this allotment shall stand terminated and the Promoter shall refund to the Allottee ALLOTTEES the entire amount received by the Promoter from the allotment within 45 days from that the date. The promoter shall intimate the ALLOTTEES about such termination at least days prior to such termination. After refund of the money paid by the AllotteeALLOTTEES, Xxxxxxxx the ALLOTTEES agrees that he/she/they/it she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession:The Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the Apartment, to the Allottee in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Promoter shall give possession of the Apartmentto the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee agree(s) to pay the maintenance charges as determined by the Promoter/association of allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee in writing within days of receiving the occupancy certificate* of the Project.

POSSESSION OF THE. APARTMENT/PLOT: PLOT.- Schedule for possession of the said Apartment: /Plot.- The Promoter agrees and understands that timely delivery of possession of the Apartmentis Apartment/Plot is the essence of the Agreement. The Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment Apartment/Plot on , unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Apartment/Plot, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 ninety days from that datethe date of termination of allotment. After refund of the money paid by the Allottee, Xxxxxxxx the Allottee agrees that he/she/they/it he/ she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession:possession.- The Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the Apartment/Plot, to the Allottee in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Promoter shall give possession of the Apartmentto Apartment/ Plot to the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee agree(s) agrees to pay the maintenance charges as determined by the Promoter/Promoter/ association of allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee in writing within days of receiving the occupancy certificate* certificate of the Project.

POSSESSION OF THE. APARTMENT/PLOT: Schedule for possession of Scheduleforpossessionof the said Apartment: The Promoter agrees and understands andunderstands that timely delivery of possession of the Apartmentis Apartment is the essence of the ofthe Agreement. The Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment on , unless there is delay or failure due to war, flood, drought, fire, cyclonecyclone earthquake, earthquake or pandemic, epidemicor any other calamity caused by nature affecting the regular development of the real estate project ("Force Majeure"). Ifbynatureaffectingtheregulardevelopmentoftherealestateproject(“ForceMajeure”).If, however, the completion of the Project is delayed due to the Force Majeure conditions ,thecompletionoftheProjectisdelayedduetotheForceMajeureconditions then the Allottee Allottee(s) agrees that the Promoter shall be entitled to the extension of extensionof time for delivery of possession of the Apartment, provided that such Force Majeure ForceMajeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement toimplement the project due to Force Majeure conditions, then this allotment shall stand terminated standterminated and the Promoter shall refund return to the Allottee Allottee(s) the entire amount received by the bythe Promoter from the allotment within 45 days from that date. After refund of the money themoney paid by the AllotteeAllottee(s), Xxxxxxxx Allottee(s) agrees that he/she/they/it shall sheshall not have any rights, ,claims etc. against the Promoter and that the Promoter shall be released and discharged from dischargedfrom all its obligations and liabilities under this AgreementthisAgreement. Procedure for Procedurefor taking possession:: The Promoter, upon obtaining the occupancy certificate* obtainingthe occupancycertificate from the competent authority shall offer in writing the possession of the ApartmenttheApartment, to the Allottee Allottee(s) in terms of this Agreement to be taken within 3 (three months threemonths from the date of issue of such notice notice) and the Promoter shall give possession of ofthe Apartment to the Apartmentto the AllotteeAllottee(s). The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment indemnifytheAllottee(s)incaseoffailureoffulfillment of any of the provisions, formalities, ,documentation on part of the Promoter. The Allottee Allottee(s) agree(s) to pay the maintenance charges as maintenancechargesas determined by the Promoter/association of allotteesofallottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee Allottee(s) in writing within days of receiving the occupancy certificate* certificate of the Project.

POSSESSION OF THE. APARTMENT/PLOT: UNIT Schedule for possession of the said Apartmentapartment/unit: The Promoter Vendor & Xxxxxxxxx agrees and understands that timely delivery of possession of the Apartmentis apartment/unit is the essence of the Agreement. The PromoterVendor & Developer, based on the approved plans and specifications, assures to hand over possession of the Apartment apartment/unit on , unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Allottee Purchaser/s agrees that the Promoter Vendor & Developer shall be entitled to the extension of time for delivery of possession of the Apartmentapartment/unit, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Purchaser/s agrees and confirms that, in the event it becomes impossible for the Promoter Vendor & Developer to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor & Developer shall refund to the Allottee Purchaser/s the entire amount received by the Promoter Vendor & Developer from the allotment within 45 days from that date. After refund of the money paid by the AllotteePurchaser/s, Xxxxxxxx Purchaser/s agrees that he/she/they/it she shall not have any rights, claims etc. against the Promoter Vendor & Developer and that the Promoter Vendor & Developer shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession:possession - The PromoterVendor & Developer, upon obtaining the occupancy certificateOccupancy Certificate* from the competent authority shall offer in writing the possession of the Apartmentapartment/unit, to the Allottee Purchaser/s in terms of this Agreement to be taken within 3 (three three) months from the date of issue of such notice and the Promoter Vendor/Developer shall give possession of the Apartmentto apartment/unit to the Allottee. Purchaser/s. The Promoter Vendor & Xxxxxxxxx agrees and undertakes to indemnify the Allottee Purchaser/s in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the PromoterVendor & Developer. The Allottee Purchaser/s agree(s) to pay the maintenance charges as determined by the PromoterVendor & Developer/association Association of allotteesPurchaser/s, as the case may be. The Promoter Vendor & Developer on its behalf shall offer the possession to the Allottee Purchaser/s in writing within days of receiving the occupancy certificateOccupancy Certificate* of the Project. Failure of Purchaser/s to take Possession of apartment/unit: Upon receiving a written intimation from the Vendor & Developer as per clause 7.2, the Purchaser/s shall take possession of the apartment/unit from the Vendor & Developer by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement, and the Vendor & Developer shall give possession of the apartment/unit to the Purchaser/s. In case the Purchaser/s fails to take possession within the time provided in clause 7.2, such Purchaser/s shall continue to be liable to pay maintenance charges as applicable. Possession by the Purchaser/s - After obtaining the Occupancy Certificate* and handing over physical possession of the apartment/unit to the Purchasers, it shall be the responsibility of the Vendor & Developer to hand over the necessary documents and plans, including common areas, to the association of the Purchasers or the competent authority, as the case may be, as per the local laws. Cancellation by Purchaser/s — The Purchaser/s shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the Purchaser/s proposes to cancel/withdraw from the project without any fault of the Vendor & Developer, the Vendor & Developer herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the Purchaser/s shall be returned by the Vendor & Developer to the Purchaser/s within 45 days of such cancellation through A/c Payee Cheque/Demand Draft or Online Payment (as applicable) only. Compensation — The Vendor & Developer shall refund the Purchaser/s in case of any loss caused to him due to defective title of the land, on which the project is being developed or has been developed, in the manner as provided under the Act and the claim for compensation under this section shall not be barred by limitation provided under any law for the time being in force. Except for occurrence of a Force Majeure event, if the Vendor & Developer fails to complete or is unable to give possession of the Apartment/Unit, (i) in accordance with the terms of this Agreement, duly completed by the date specified herein; or (ii) due to discontinuance of his business as a developer on account of suspension or revocation of the registration under the Act; or for any other reason; the Vendor & Developer shall be liable, on demand to the Purchaser/s, in case the Purchaser/s wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the apartment/unit, with interest at the rate specified in the Rules within 45 days including compensation in the manner as provided under the Act. Provided that where if the Purchaser/s does not intend to withdraw from the Project, the Vendor & Developer shall pay the Purchaser/s interest at the rate specified in the Rules for every month of delay, till the handing over of the possession of the apartment/unit.

POSSESSION OF THE. APARTMENT/PLOT: Schedule for possession of the said Apartment: The Promoter agrees and understands that timely delivery of possession of the Apartmentis Apartment is the essence of the Agreement. The Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment on , unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature 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 Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Apartment, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. After refund of the money paid by the Allottee, Xxxxxxxx agrees that he/she/they/it shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession:: The Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the Apartment, to the Allottee in terms of this Agreement to be taken within 3 (three months from the date of issue of such notice and the Promoter shall give possession of the Apartmentto Apartment to the Allottee. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee agree(s) to pay the maintenance charges as determined by the Promoter/association of allottees, as the case may be. The Promoter on its behalf shall offer the possession to the Allottee in writing within days of receiving the occupancy certificate* of the Project.