Common use of Quit Rent & Other Outgoings Clause in Contracts

Quit Rent & Other Outgoings. a. Any arrears of Quit Rent, Assessment, service/maintenance charges, sinking fund including the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer up to the date of successful sale of the subject property shall be deducted from the purchase money upon receipt of the Balance sum, provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rent, Assessment bills issued by the relevant authority and the Developer’s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at the date of auction sale not specific in Clause 10(a)(including but not limited to water bills, electric bills, sewerage charges, telephone bills and/or other monies whatsoever outstanding to the Developer and/or other authority/parties) shall not be borne by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser.

Quit Rent & Other Outgoings. a. Any arrears of Quit Rent, Assessment, service/maintenance charges, sinking fund including the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer up to the date of successful sale of the subject property shall be deducted from the purchase money upon receipt of the Balance sum, provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rent, Assessment bills issued by the relevant authority and the Developer’s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at the date of auction sale not specific in Clause 10(a)(including but not limited to water bills, electric bills, sewerage charges, telephone bills and/or other monies whatsoever outstanding to the Developer and/or other authority/parties) shall not be borne by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer Assignment and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser.

Quit Rent & Other Outgoings. a. Any arrears of Quit Rent, Assessment, service/maintenance charges, sinking fund including the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer up to the date of successful sale of the subject property shall be deducted from the purchase money upon receipt of the Balance sum, provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rent, Assessment bills issued by the relevant authority and the Developer’s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx billings are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at the date of auction sale not specific in Clause 10(a)(including but not limited to water bills, electric bills, sewerage charges, telephone bills and/or other monies whatsoever outstanding to the Developer and/or other authority/parties) shall not be borne by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser.

Quit Rent & Other Outgoings. a. Any arrears of Quit Rent, Assessment, service/maintenance charges, sinking fund including the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer up to the date of successful sale of the subject property shall be deducted from the purchase money upon receipt of the Balance sum, provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rent, Assessment bills issued by the relevant authority and the Developer’s Developer‟s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at the date of auction sale not specific in Clause 10(a)(including but not limited to water bills, electric bills, sewerage charges, telephone bills and/or other monies whatsoever outstanding to the Developer and/or other authority/parties) shall not be borne by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer Assignment and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser.

Quit Rent & Other Outgoings. a. Any a) All arrears of Quit Rentquit rent, Assessment, assessment and service/maintenance charges, sinking fund including charges due and payable in respect of the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer subject property up to the date of successful sale of the subject property shall be deducted from paid out of the purchase money upon receipt of the Balance sumfull auction proceeds including all interest on late payment (if any), provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rentquit rent, Assessment bills assessment bills/invoices issued by the relevant authority and the Developer’s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx billing are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at such sums accruing due and payable from the date of auction sale not specific in Clause 10(a)(including shall be borne and paid by the Purchaser. All charges other than quit rent, assessment, service/maintenance charges including but not limited to water billsfees, electric billstaxes, sewerage chargesrates, telephone bills interests, sinking funds, adjustment of land area charges and/or any other monies whatsoever outstanding to the Developer and/or to any other authority/parties) parties shall not be borne paid directly by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser.