Common use of Promoter’s Charge/Lien Clause in Contracts

Promoter’s Charge/Lien. The Promoters shall have first charge and/or lien over the Said Flat And Appurtenances for all amounts due and payable by the Allottee/s to the Promoters provided however if the Said Flat And Appurtenances is purchased with assistance of a financial institution, then such charge/lien of the Promoters shall stand extinguished on the financial institution clearing all dues of the Promoters.

Promoter’s Charge/Lien. The Promoters Promoter shall have first charge and/or lien over the Said Flat Unit And Appurtenances for all amounts due and payable by the Allottee/s Transferee to the Promoters Promoter provided however if the Said Flat Unit And Appurtenances is purchased acquired with assistance of a financial institution, then such charge/lien of the Promoters Promoter shall stand extinguished on the financial institution clearing all dues of the PromotersPromoter.

Promoter’s Charge/Lien. The Promoters Promoter shall have first charge and/or lien over the Said Flat And Appurtenances for all amounts due and payable by the Allottee/s to the Promoters provided however if the Said Flat And Appurtenances is purchased with assistance of a financial institution, then such charge/lien of the Promoters Developer shall stand extinguished on the financial institution clearing all dues of the PromotersDeveloper.

Promoter’s Charge/Lien. The Promoters Promoter shall have first charge and/or lien over the Said Flat Unit And Appurtenances for all amounts due and payable by the Allottee/s Allottee to the Promoters Promoter provided however if the Said Flat Unit And Appurtenances is purchased with assistance of a financial institution, then such charge/lien of the Promoters Promoter shall stand extinguished on the financial institution clearing all dues of the PromotersPromoter.

Promoter’s Charge/Lien. The Promoters Promoter shall have first charge and/or lien over the Said Flat Unit/Apartment And Appurtenances for all amounts due and payable by the Allottee/s Allottee to the Promoters Promoter provided however if the Said Flat Unit/Apartment And Appurtenances is purchased with assistance of a financial institution, then such charge/lien of the Promoters Promoter shall stand extinguished on the financial institution clearing all dues of the PromotersPromoter as applicable.