Common use of Termination by Promoter Clause in Contracts

Termination by Promoter. (i) In the event of the Allottee /s committing a breach of any of the terms and conditions of this Agreement and pursuant to a written notice from the Promoter for rectification/remedy of the default, fail(s) to rectify such breach within a period of 15 (Fifteen) days to the satisfaction of the Promoter, the Promoter shall be at liberty to terminate this Agreement by giving termination notice in which event, the consequences set out below shall follow. The Allottee /s shall cease to have any right or interest in the said Residential Flat and every part thereof and will cease to have benefits of this Agreement;

Termination by Promoter. (i) In the event of the Allottee /s Purchaser/s committing a breach of any of the terms and conditions of this Agreement and pursuant to a written notice from the Promoter for rectification/remedy of the default, fail(s) to rectify such breach within a period of 15 (Fifteen) days to the satisfaction of the Promoter, the Promoter shall be at liberty to terminate this Agreement by giving termination notice in which event, the consequences set out below shall follow. The Allottee /s Purchaser/s shall cease to have any right or interest in the said Residential Flat and every part thereof and will cease to have benefits of this Agreement;