TIME IS THE ESSENCE. 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 and towards handing over the ApartmenttoUnit to the Allottee(s) and the common areasCommon Areas to the Maintenance Society or the competent authority, as the case may be.
TIME IS THE ESSENCE. Time is of the essence in the performance of this Lease.
TIME IS THE ESSENCE. Payment of Instalment and all other administrative dues shall have to be made within due dates as would be mentioned in the letter(s) of PROMOTER to be issued from time to time requesting for such payments. The timely payment of Installments is the essence of this Agreement. Part payments will not be accepted after the due dates. It shall be incumbent on PURCHASER(S) to comply with the terms of payment and the other terms and conditions of sale. If there is any delay or default in making payment of the Installments on time by PURCHASER(S), then PURCHASER(S) shall, subject to the consequences as mentioned in Clause No. 3.4 of this Agreement, at the sole discretion of PROMOTER is/are liable to pay simple interest on the amount due @ 15% (fifteen percent) per annum from the date on which the amount falls due till 60th day from the due date however, PROMOTER may accept payments beyond 60 (sixty) days subject to interest @ 18% (eighteen percent) provided the PURCHASER(S) submit/s written request. No payment will be received after due date without the payment of the applicable interest. All the payments made by PURCHASER(S), shall be first adjusted towards the past taxes payable, then towards the installments along with taxes applicable to the said installment, then towards interest.
TIME IS THE ESSENCE. It is specifically and categorically understood and agreed by the Allottee that time is of the essence with respect to the Allottee(s)’ obligations to perform or observe all the obligations of the Allottee under this Agreement and / or to pay the Total Consideration along with other payments such as applicable stamp duty, registration fee and other charges stipulated under this Agreement to be paid on or before due date or as and when demanded by the Company in accordance with the Payment Plan, as the case may be.
TIME IS THE ESSENCE. The Parties agree that time is the essence in the performance of each of the Parties obligations under this Lease Agreement.
TIME IS THE ESSENCE. Time is the essence with respect to the Vendee obligations to pay the Sale Price as provided in Annexure I along with other payments such as applicable stamp duty, registration fee and other charges stipulated under this Agreement to be paid on or before due date or as and when demanded by the Vendor as the case may be and also to perform or observe all the other obligations of the Vendee under this Agreement. It is clearly agreed and understood by the Vendee that it shall not be obligatory on the part of the Vendor to send demand notices/ reminders regarding the payments to be made by the Vendee as per the Schedule of Payments in Annexure I or obligations to be performed by the Vendee. In case of delay in making payment by the Vendee to the Vendor as per the Schedule of Payments as stated in Annexure I and other payments set out in this Agreement, the Vendee shall be liable to pay interest on delayed payments @ 18% per annum compounded at the time of every succeeding instalment/other payments which shall be calculated from the due date of outstanding payment/amount or the Vendor shall be entitled to compensation free period equivalent to the number of days for which Vendee delays the payment of instalment and/or any other payment due and payable. For the sake of clarity, each delay shall be independently counted for purpose of the calculation of compensation free period. Further, if the Vendee fails to pay the instalment along with interest on the delayed payment within 30 days of it falling due and payable, the Vendor may at its sole option forfeit the amount of Xxxxxxx Money deposited by him/her/them and the allotment shall stand cancelled and he/she/they shall have no lien/charge/interest on the Flat. The amounts, if any, paid over and above the Xxxxxxx Money shall be refunded without any interest by the Vendor after the adjustment of interest on delayed payments and all other amounts of non-refundable nature, if any, due from the Vendee. However, the Vendor may in its sole discretion, waive its right to terminate this Agreement, and enforce all the payments and seek specific performance of this Agreement. In such a case, the Parties agree that the possession of the Flat will be handed over to the Vendee only upon the payment of all outstanding dues, penalties etc., along with interest by the Vendee to the satisfaction of the Vendor.
TIME IS THE ESSENCE. Notwithstanding anything contained in this Agreement, timely performance by the Allottee(s) of all his obligations under this Agreement, including without limitation, his obligations to make timely payments of the Sale Consideration/ installments, maintenance charges and other deposits and amounts, including any interest or penalty, in accordance with this Agreement shall be of essence under this Agreement. The Developer is not under any obligation to send any reminders for the payments to be made by the Allottee(s) as per the schedule of payments and for the payments to be made as demanded by the Developer or other obligations to be performed by the Allottee(s). It shall be incumbent on Prabhatam Infrastructures Limited the Allottee(s) to comply with the terms of payment and perform the other terms and conditions as contained in this Agreement. If the Allottee(s) neglects, omits, ignores, or fails in the timely performance of his obligations agreed or stipulated herein for any reason whatsoever or to pay in time to the Developer any of the installments or other amounts and charges due from the Allottee(s) by the respective due dates, then the same shall amount to breach of the Agreement by the Allottee(s) and repeated defaults of such nature on part of the Allottee(s) beyond 3 (three) such occasions shall invite legal action against the Allottee(s) from the Developer and/or cancellation of the Allotment by the Developer. ). Further, for any and each delayed payment, the Developer may, charge an interest @2% per month which shall be calculated from the due date of outstanding amount till the time of actual payment.
TIME IS THE ESSENCE. 8.1 The obligation to make timely payment of every installment of the Total Consideration in accordance with the Payment Plan along with payment of other charges such as applicable stamp duty, registration fee, IFMS and Other Charges, any deposits, as stipulated under this Agreement or that may otherwise be payable on or before the due date or as and when demanded by the Company, as the case may be, and also to discharge all other obligations under this Agreement shall be the of essence of this Agreement.
TIME IS THE ESSENCE. The Parties hereby agree that time is the essence with respect to all dates and periods mentioned in this Loan Agreement (as may be modified/extended wherever permitted under this Loan Agreement), for performance of their respective obligations under this Loan Agreement.
TIME IS THE ESSENCE. The timely payment of installments is the essence of this Agreement. It shall be incumbent on the Purchaser(s) to comply with the terms of payment and the other terms and conditions of sale. If there is any delay or default in making payment of the installments on time by the Purchaser(s), then the Purchaser(s) shall, subject to the consequences as mentioned in Clause No. 3.6 of the present agreement, at the sole discretion of THDCL, pay the interest @ 18% per annum to THDCL from the due date of payment of installment on monthly compounded basis. All the payments made by the Purchaser(s), THDCL shall adjust the amount first towards the interest due and then towards the sale consideration.
