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. 3.1 The time is the essence with respect to the Allottee(s) obligations to pay the consideration as per the Payment Plan along with other payments and other charges stipulated under this Agreement to be paid on or before due date or as and when demanded by the Developer, as the case may be, and also to perform
3.2 Breach of any of the terms and conditions of this Agreement or any default by the Allottee(s) in payment of the Total Sale Consideration or any installment thereof on the due dates, for whatsoever reasons shall be construed as breach of this Agreement committed by the Allottee(s) and without prejudice to any other rights of the Land Owner and the Developer, the Land Owner and/or the Developer may at their discretion/option, cancel this Agreement as per the terms and conditions of this Agreement.
3.3 The Allottee(s) agrees to pay the Total Sale Consideration for sale of the UDS in Phase IV B Land without committing any default in the Payment Plan and in case the Allottee(s) defaults in making the payments then the Allottee(s) shall be liable to pay Delay Payment Charges for the period of delay. It is specifically agreed that timely payment of the Total Sale Consideration by the Allottee(s) as per the Payment Plan shall be the essence of this Agreement.
3.4 The Allottee(s) hereby authorizes the Developer to adjust/ appropriate all payments made by him/ her under any head of dues against lawful outstanding of the Allottee(s) against the UDS in the Phase IV B Land, if any, in his/ her name and the Allottee(s) undertakes not to object/ demand/ direct the Developer to adjust his payments in any manner. The Allottee(s) expressly waives requirement(s) of service of any notice of such appropriation.
3.5 For all payments, the date of clearance of the demand draft/pay order/cheque shall be taken as the actual date of payment. In addition to other rights and remedies available to the Developer/Land Owner under the Applicable Laws, equity and under this Agreement, in case of dishonor of the demand draft/pay order/cheque for any reason, the Developer shall be entitled to charge from the Allottee(s) bank charges for dishonor of the said instrument and an additional amount of Rs.1,000/- towards administrative handling charges.
3.6 That where the Allottee(s) proposes to cancel/withdraw from Ashiana Xxxxxxx Phase IV B without any fault of the Land Owner or the Developer, before the completion of Ashiana Xxxxxxx Phase IV B, the Land Owner/Developer shall be entitle...
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 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. The Allottee(s) agrees that time is essence with respect to payment of Total Price and other charges, deposits and amounts payable by the Allottee(s) as per this Agreement and/or as demanded by the Company from time to time and also to perform/observe all the other obligations of the Allottee(s) under this Agreement. The Company 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 per demand by the Company or other obligations to be performed by the Allottees.
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.
8.2 In the event of failure of the Allottee to perform any of the obligations or to fulfill the terms and conditions as set out in the Application and this Agreement, including but not limited to the occurrence of any Event of Default as described herein, the Company may cancel this Agreement and forfeit the Xxxxxxx Money and any other amount including any commission/ brokerage/margin paid or payable by the Company to a Channel Partner in case the booking is made by the Allottee through a Channel Partner (unless a credit note/ no objection certificate (NOC) from such Channel Partner forgoing its right to claim such brokerage/ commission/margin is submitted) and thereafter, refund the balance amount, if any, without interest in the manner described hereunder:-
(i) In case any breach is committed by the Allottee, the Company shall serve a notice calling upon the Allottee to rectify such breach within the time mentioned in such notice provided that the time mentioned shall not be less than fifteen (15) days.
(ii) In case such breach is not rectified within the time period stipulated or is continuing or is otherwise repeated, then this Agreement may be cancelled by the Company at its sole option by serving a written notice (“Notice of Termination”) to the Allottee of the same.
8.3 In the event the Company terminates this Agreement under the aforesaid Clause 8.2, any amount refundable to the Allottee shall be refunded, without interest or compensation, within 3 (three) months only from the sale proceeds upon the further sale/resale of the Apartment to another party. Upon such cancellation and dispatch of the Notice of Termination, the Allottee shall have no right or claim against the Company and/or the Confirming Party in respect of the Apartment including for any compensation or consequential loss except to the extent of such refund. In the event the Allottee has availed financing from a financial institution/bank, such refund will be subject to the agreement...
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 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.
4.1 Condition-precedent
