Common use of POSSESSION OF THE Clause in Contracts

POSSESSION OF THE. APARTMENT/PLOT/SHOP/FLAT: 7.1 Schedule for possession of the said Plot - The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31- 12-2020, 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 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 60 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that 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.

POSSESSION OF THE. APARTMENT/PLOT/SHOP/FLAT: 7.1 Schedule for possession of the said Plot - [Apartment/Plot] – The Promoter agrees and understands that timely delivery of possession of the Plot [Apartment/Plot] to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Plot [Apartment/Plot] along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31- 1230-2020, 06-2022 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 project is delayed due to the Force Majeure conditions condition 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, 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 60 45 days from that date. The promoter Promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/ 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.

POSSESSION OF THE. APARTMENT/PLOT/SHOP/FLAT: 7.1 Schedule UNIT Procedure for taking possession - The Vendor & Developer, upon obtaining the Occupancy Certificate* from the competent authority shall offer in writing the possession of the said Plot - The Promoter agrees apartment/unit, to the Purchaser/s in terms of this Agreement to be taken within 3 (three) months from the date of issue of such notice and understands that timely delivery of the Vendor/Developer shall give possession of the Plot apartment/unit to the allottee Purchaser/s. The Vendor & Xxxxxxxxx agrees and undertakes to indemnify the Purchaser/s in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the Vendor & Developer. The Purchaser/s agree(s) to pay the maintenance charges as determined by the Vendor & Developer/Association of Purchaser/s, as the case may be. The Vendor & Developer on its behalf shall offer the possession to the Purchaser/s in writing within days of receiving the Occupancy 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 areas, to the association of allottees the Purchasers or the competent authority, as the case may be, is as per the essence 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: Compensation — The Vendor & Developer shall refund the Purchaser/s in case of any loss caused to him due to defective title of the Agreement. The Promoter assures to hand over possession of the Plot along with ready and complete common areas with all specificationsland, amenities and facilities of on which the project in place on 31- 12-2020, unless there is delay being developed 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 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 thathas been developed, in the event it becomes impossible 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 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 60 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that 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 Agreementtime being in force.

POSSESSION OF THE. APARTMENT/APARTMENT / PLOT/SHOP/FLAT: 7.1 Schedule for possession of the said Plot - [Apartment / Plot] – The Promoter Vendor agrees and understands that timely delivery of possession of the Plot [Apartment] to the allottee Purchaser and the common areas to the association Association of allottees Purchasers or the competent authority, as the case may be, is the essence of the Agreement. The Promoter Vendor assures to hand over handover possession of the Plot [Apartment] along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on 31- 12-2020, on---------------------- unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other calamity caused by nature affecting effecting 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 agrees that the Promoter Vendor shall be entitled to the extension of time for delivery of possession of the Plot, provided [Apartment]. 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 to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee Purchaser(s) the entire amount received by the Promoter Vendor from the allotment Allotment within 60 45 days from that date. The promoter Vendor shall intimate the allottee Purchaser about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteePurchaser, the Allottee agrees Purchaser agreed that he/ she shall not have any rights, claims etc. against the Promoter Vendor and that the Promoter Vendor shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE. APARTMENT/PLOT/SHOP/FLAT: 7.1 Schedule for possession of the said Plot - [Apartment/Plot] – The Promoter agrees and understands that timely delivery of possession of the Plot [Apartment] to the allottee Allottee and the common areas to the association Association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over handover possession of the Plot [Apartment] along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on 31- 12-2020October, 2021 unless there is delay or failure due to war, flood, drought, fire, cyclone, 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 Plot, provided [Apartment]. Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Allottee(s) 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 Allottee(s) the entire amount received by the Promoter from the allotment Allotment within 60 45 days from that date. The promoter Promoter shall intimate the allottee Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees agreed that 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.;

POSSESSION OF THE. APARTMENT/APARTMENT / PLOT/SHOP/FLAT: 7.1 Schedule for possession of the said Plot - [Apartment / Plot] – The Promoter Vendor agrees and understands that timely delivery of possession of the Plot Unit/Apartment to the allottee Purchaser/Allottee and the common areas to the association Association of allottees or the competent authority, as the case may be, Purchaser/Allottees is the essence of the Agreement. The Promoter Vendor assures to hand over handover possession of the Plot Unit/Apartment along with ready and complete common areas with all specifications, amenities and facilities of the project Project in place on 31- 12-2020, 28th February 2022/ 2023 unless there is delay or failure due to war, flood, drought, fire, cyclone, cyclone earthquake or any other calamity caused by nature affecting effecting 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 Promoter Vendor shall be entitled to the extension of time for delivery of possession of the Plot, Unit/Apartment provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Purchaser/Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter Vendor to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter Vendor shall refund to the Allottee Purchaser/Allottee(s) the entire amount received by the Promoter Vendor from the allotment Allotment within 60 45 days from that date. The promoter Vendor shall intimate the allottee Purchaser/Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Purchaser/Allottee, the Purchaser/Allottee agrees agreed that he/ she shall not have any rights, claims etc. against the Promoter Vendor and that the Promoter Vendor shall be released and discharged from all its obligations and liabilities under this Agreement.

POSSESSION OF THE. APARTMENT/PLOT/SHOP/FLAT:. 7.1 Schedule for possession of the said Plot - [Apartment/Plot]: The Promoter agrees and understands that timely delivery of possession of the Plot to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, [Apartment/Plot] is the essence of the Agreement. The Promoter Promoter, based on the approved plans and specifications, assures to hand over possession of the Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place unit on 31- 12-2020, 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 60 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that 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. 7.2 Procedure for taking 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 [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) 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/SHOP/FLAT: 7.1 Schedule for possession of the said Plot - Apartment: The Promoter promoter agrees and understands that timely delivery of possession of the Apartment/Plot to the allottee and the common areas to the association of allottees or the competent authorityCompetent Authority, as the case may be, be is the essence of the Agreement. The Promoter promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment / Plot along with ready and complete common areas with all specifications, amenities and facilities of the project in place on 31- 12-2020, Date 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 project is delayed due to the Force Majeure conditions then the Allottee Allottee(s) agrees that the Promoter promoter shall be entitled to the extension of time for delivery of possession of the PlotApartment, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee Allottee(s) agrees and confirms confirm that, in the event it becomes impossible for the Promoter promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter promoter shall refund to the Allottee Allottee(s) the entire amount received by the Promoter promoter from the allotment within 60 45 days from that date. The date and the promoter shall intimate the allottee Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the AllotteeAllottee(s), the Allottee Xxxxxxxx(s) agrees that he/ she shall not have any rights, claims etc. against the Promoter promoter and that the Promoter promoter shall be released and discharged discharges from all its obligations and liabilities under this Agreement. 7.2 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(s) in terms of this Agreement to be taken within two months from the date of issue of such occupancy certificate. Provided that, in the absence of local law, the conveyance deed in favour of the Allottee shall be carried out by the Promoter within 3 months from the date of issue of such occupancy certificate. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions, formalities, documentation on part of the promoter. The Allottee after taking possession agree(s) to pay the maintenance charges as determined by the Promoter/association of allottees, as the case may be, after the issuance of the occupancy certificate for the project. The promoter shall handover the occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same.

POSSESSION OF THE. APARTMENT/RESIDENTIAL CUM COMMERCIAL PLOT/SHOP/FLAT: 7.1 Schedule for possession of the said Residential Cum Commercial Plot [Apartment/Residential Cum Commercial Plot] - The Promoter agrees and understands that timely delivery of possession of the Residential Cum Commercial Plot [Apartment/Residential Cum Commercial Plot] to the allottee and the common areas to the association of allottees or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to hand over possession of the Residential Cum Commercial Plot [Apartment/Residential Cum Commercial Plot] along with ready and complete common areas with all specifications, amenities and facilities of the “PHASE-03” of the project in place on 31- 12-2020DECEMBER-2022, 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 Residential Cum Commercial Plot [Apartment/Residential Cum Commercial Plot], provided that such Force Majeure conditions are not of a nature 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 60 45 days from that date. The promoter shall intimate the allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that 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.