Common use of TIME IS ESSENCE Clause in Contracts

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in the Project the Association of the Allottees after receiving the occupancy/completion certificate, as the case may be. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Schedule-I (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in the Project areas to the Association of the Allottees after receiving the occupancy/completion certificate, as the case may be. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Schedule-I H (“Payment Plan”). (ii) In the event of dishonour dis-honour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour dis-honour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour dis-honour charges of Rs. 5000/- (Rupees Five Thousand thousand only) (for each dishonourdis-honour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour dis-honour of any cheque, the Promoter has no obligation to return the original dishonoured dis- honoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities areas in the Project Phase to the Association association of the Allottees after receiving the occupancy/occupancy certificate or the completion certificatecertificate or both, as the case may bebe subject to the same being formed and registered as per local law. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime Prime lending rate of the State Bank of India plus two per cent p.a. It is provided that in some areas of the State the local laws provide for a „Completion Certificate‟ (CC) to signify „Completion‟ and in some areas a CC plus an „Occupancy Certificate‟ (OC) is issued by the Municipal Authorities to signify „Completion‟. In those areas where neither a CC nor a OC is issued in such areas the Completion Certificate issued by the Architect shall be deemed to signify „Completion‟. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the simultaneous completion of construction milestone by the Promoter as provided in Schedule-I Schedule K (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (sevenany cheque(s) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event / draft(s) / P.O.(s) submitted by the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereofare returned unpaid, the Promoter may consider Allottee shall have to pay, alongwith the same at its sole discretionunpaid amount, an additional amount of Rs.5000/-(Rupees Five Thousand) along with applicable taxes towards cheque/D.D./P.O. return charges. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project project/phase as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in the Project Phase to the Association of the Allottees after receiving the occupancy/completion certificate, as the case may be. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Schedule-I J (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities areas in the Project project to the Association association of the Allottees after receiving the occupancy/occupancy certificate or the completion certificate/partial completion or both, as the case may bebe subject to the same being formed as per local law. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ at the prescribed rate which at present is prime lending rate of the State Bank of India plus two per cent p.a. Similarly. (ii) As per provisions of the Said Act and the transaction herein being commercial in nature for the promoter, the promoter shall be making and completing the construction from the amount as may realized from the Allottee, the Allottee shall be bound to make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to and the completion time for payment shall always be the essence of construction milestone by the Promoter as provided in Schedule-I (“Payment Plan”)agreement. (iiiii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges and other incidental expenses of Rs. 5000/- 1000/- (Rupees Five One Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days days, then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee Allottees and the common areas/ common parts and facilities in areas to the Project association of allottees or the Association of the Allottees after receiving the occupancy/completion certificate, competent authority as the case may be. . (ii) If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Schedule-I (“Payment Plan”). (iiiii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- 5,000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iiiiv) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Owner/Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in to the Project the Association association of the Allottees after receiving or the occupancy/completion certificatecompetent authority, as the case may be. If the Owner/Promoter at any time during the Project execution finds finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment instalment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Part-II of Schedule-I C (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Owner/Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Owner/Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Owner/Promoter of all the amounts including the dishonour charges of Rs. 5000/- 1000/- (Rupees Five One Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Owner/Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Owner/Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Owner/Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Owner/Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Owner/Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project project with the Authority (“Completion Date”) and towards handing over the Designated Apartment to the Allottee and the common areas/ common parts and facilities in areas to the Project association of Allottees or the Association of the Allottees after receiving the occupancy/completion certificatecompetent authority, as the case may be. If . i) if the Promoter at any time during the Project project execution finds itself in a situation which prevents it from completing the Project project within time and/or and or extended time in such event the Promoter promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, p.a Similarly the Allottee shall make timely payments of the installment and other dues payable by him/him/ her and meeting the other obligations under the Agreement agreement subject to the completion of construction milestone by the Promoter promoter as provided in Schedule-I (“( Payment Plan”Plan ). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, whatsoever then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, herein further the Promoter shall intimate the Allottee of the dishonour dishonor of the cheque and the Allottee would be required to promptly tender a Demand Draft demand draft of the outstanding amounts including interest at the Applicable Interest Rate 8%p.a. rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of RsRs . 5000/- (750/- ( Rupees Five Thousand only) (Seven Hundred Fifty only )( for each dishonour). In dishonour in the event the said Demand Draft demand draft is not tendered within 7 (seven( seven ) days then the Promoter shall be entitled to cancel the allotment, allotment subject to provisions hereunder. In hereunder in the event the Allottee comes forward to pay the entire outstanding amounts, amounts interest and penalty penalties thereof, the Promoter promoter may consider the same at its sole discretion. In discretion in the event of dishonour of any cheque, cheque the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, Allottee the Promoter will not be responsible towards any third party making such payment/payments / remittances on behalf of the Allottee and such third party shall not have any right in the Application application and/or Provisional Allotment, provisional allotment if any, any in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter Promoters as well as the Allottee. The Promoter – I shall abide by the time schedule for completing the project project/phase within 31-12-2023 as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in the Project Phase to the Association of the Allottees after receiving the occupancy/completion certificate, as the case may be. If the Promoter Promoters at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter Promoters will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter – I as provided in Schedule-I J (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter – I may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter – I shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter – I of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter – I shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter – I may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has Promoters have no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter Promoters will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter – I shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project with the Authority i.e. 31st December 2022 (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in the Project areas to the Association of the Allottees after receiving the occupancy/completion certificate, as the case may be. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within the time and/or extended time time, in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Schedule-I Schedule- C (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in the Project the Association of the Allottees after receiving the occupancy/completion certificate, as the case may be. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment instalment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Schedule-I (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each 15. dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities areas in the Project Phase to the Association association of the Allottees after receiving the occupancy/occupancy certificate* or the completion certificatecertificate or both, as the case may bebe subject to the same being formed and registered as per local law. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime Prime lending rate of the State Bank of India plus two per cent p.a. It is provided that in some areas of the State the local laws provide for a „Completion Certificate‟ (CC) to signify „Completion‟ and in some areas a CC plus an „Occupancy Certificate‟ (OC) is issued by the Municipal Authorities to signify „Completion‟. In those areas where neither a CC nor a OC is issued in such areas the Completion Certificate issued by the Architect shall be deemed to signify „Completion‟. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the simultaneous completion of construction milestone by the Promoter as provided in Schedule-I Schedule K (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (sevenany cheque(s) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event / draft(s) / P.O.(s) submitted by the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereofare returned unpaid, the Promoter may consider Allottee shall have to pay, alongwith the same at its sole discretionunpaid amount, an additional amount of Rs.5000/-(Rupees Five Thousand) along with applicable taxes towards cheque/D.D./P.O. return charges. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project project/phase within 31/12/2020 and as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in the Project Phase to the Association of the Allottees after receiving the occupancy/completion certificate, as the case may be. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Schedule-I J (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project project/phase as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in the Project Phase to the Association of the Allottees after receiving the occupancy/completion certificate, as the case may be. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Schedule-I (“Payment Plan”). (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter Owners/Vendors as well as the Allottee. The Promoter Owners/Vendors shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities areas in the Project project to the Association association of the Allottees after receiving the occupancy/occupancy certificate or the completion certificate/partial completion or both, as the case may bebe subject to the same being formed and/or registered as per local law. If the Promoter Owners/Vendors at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter Owners/Vendors will have the right to return the money with interest @ at the prescribed rate which at present is prime lending rate of the State Bank of India plus two per cent p.a. Similarly. (ii) As per provisions of the Said Act and the transaction herein being commercial in nature for the Owners/Vendors, the Owners/Vendors shall be making and completing the construction from the amount as may realized from the Allottee, the Allottee shall be bound to make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to and the completion time for payment shall always be the essence of construction milestone by the Promoter as provided in Schedule-I (“Payment Plan”)agreement. (iiiii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter Owners/Vendors may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter Owners/Vendors shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter Owners/Vendors of all the amounts including the dishonour charges and other incidental expenses of Rs. 5000/- 1000/- (Rupees Five One Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days days, then the Promoter Owners/Vendors shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter Owners/Vendors may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter Owners/Vendors has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project project/phase as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities areas in the Project Phase to the Association association of the Allottees after receiving the occupancy/occupancy certificate* or the completion certificate/partial completion or both, as the case may bebe subject to the same being formed and registered as per local law. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ at the prescribed rate which at present is prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the simultaneous completion of construction milestone by the Promoter as provided in Schedule-I Schedule C (“Payment Plan”). In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only. (ii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges of Rs. 5000/- (Rupees Five Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project Project/PHASE I as disclosed at the time of registration of the Project Project/PHASE I with the Authority (“Completion Date”) and towards handing over the Apartment Office unit to the Allottee and the common areas/ common parts and facilities areas in the Project project to the Association association of the Allottees after receiving the occupancy/occupancy certificate or the completion certificate/partial completion or both, as the case may bebe subject to the same being formed and/or registered as per local law. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ at the prescribed rate which at present is prime lending rate of the State Bank of India plus two per cent p.a. Similarly. (ii) As per provisions of the Said Act and the transaction herein being commercial in nature for the promoter, the promoter shall be making and completing the construction from the amount as may realized from the Allottee, the Allottee shall be bound to make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to and the completion time for payment shall always be the essence of construction milestone by the Promoter as provided in Schedule-I (“Payment Plan”)agreement. (iiiii) In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour charges and other incidental expenses of Rs. 5000/- 1000/- (Rupees Five One Thousand only) (for each dishonour). In the event the said Demand Draft is not tendered within 7 (seven) days days, then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured chequedishonouredcheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall issue the payment receipts in the name of the Allottee only.

TIME IS ESSENCE. (i) Time is essence for the Promoter as well as the Allottee. The Promoter shall abide by the time schedule for completing the project as disclosed at the time of registration of the Project with the Authority (“Completion Date”) and towards handing over the Apartment to the Allottee and the common areas/ common parts and facilities in the Project areas to the Association of the Allottees after receiving the occupancy/completion certificate, as the case may be. If the Promoter at any time during the Project execution finds itself in a situation which prevents it from completing the Project within time and/or extended time in such event the Promoter will have the right to return the money with interest @ prime lending rate of the State Bank of India plus two per cent p.a. Similarly, the Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Agreement subject to the completion of construction milestone by the Promoter as provided in Schedule-I H (“Payment Plan”). (ii) In the event of dishonour dis-honour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available herein. Further, the Promoter shall intimate the Allottee of the dishonour dis-honour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts including the dishonour dis-honour charges of Rs. 5000/- (Rupees Five Thousand thousand only) (for each dishonourdis-honour). In the event the said Demand Draft is not tendered within 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts, interest and penalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour dis-honour of any cheque, the Promoter has no obligation to return the original dishonoured dis- honoured cheque. (iii) In case payment is made by any third party on behalf of Allottee, the Promoter will not be responsible towards any third party making such payment/remittances on behalf of the Allottee and such third party shall not have any right in the Application and/or Provisional Allotment, if any, in any manner whatsoever and the Promoter shall Promotershall issue the payment receipts in the name of the Allottee only.