Common use of Transfer to the Nominee Clause in Contracts

Transfer to the Nominee. 6.1. Prior to the execution and registration of the Deed of Sub-Lease/ Assignment and/or Under Lease, as the case may be, (as mentioned herein) in favour of the Allottee in respect of the said Apartment/Residential Apartment, the Allottee shall not be entitled to transfer/nominate/assign his/her/its rights under this Agreement in favour of any third party except with the prior written consent of the Promoter. The Promoter may allow the Allottee to transfer nominate/assign his/her/its rights under this Agreement in respect of the said Apartment/Residential Apartment only if all the following conditions are complied with: - (a) There has been no default whatsoever by or on behalf of the Allottee in compliance with and/or performance of any of the covenants, undertakings and obligations more fully described hereunder as also in the Fifth Schedule hereunder written; (b) A period of 18 months should have been completed from the date of execution of this Agreement. (c) The Allottee shall make payment to the Promoter towards Transfer Charges/Nomination Fees to be calculated @1% of the Consideration Amount along with applicable taxes, of the Residential Apartment Cost as stipulated in Clause no. 2 and 3. (d) Prior consent in writing is obtained from the Promoter for the proposed transfer/nomination/assignment or alienation of the said Residential Apartment or any part thereof. (e) The Stamp Duty, Registration Fees and all other expenses payable for execution and registration of such Transfer and/or Deed of Assignment shall be borne and paid by the Allottee and/or his/her nominee subject however to the consent of the Promoter. For the purposes of this clause the term “Family Member/s” includes husband, wife, minor son and unmarried daughter wholly dependent on a person. 6.2. The Promoter in its absolute discretion be entitled to refuse consent to nomination/transfer/disposal etc. of the said Apartment/Residential Apartment to any person not being the Family member of the Allottee if the Allottee intends to make such nomination/transfer/disposal etc. within a period of 1 (one) year from the date of this Agreement and any nomination/transfer/disposal made in contravention/violation of such refusal to give consent shall be void ab initio. 6.3. In addition to the covenants and obligations hereinbefore contained, the Allottee shall also discharge certain additional obligations towards the Promoter and other Allottees of Joyville Phase 1A or the entire Project more fully described in the Fifth Schedule hereunder written.

Transfer to the Nominee. 6.1. 6.1 Prior to the execution and registration of the Deed of Sub-Lease/ Assignment and/or Under Lease, as the case may be, Conveyance (as mentioned hereinin Clause 7 hereto) in favour of the Allottee Purchaser in respect of the said Apartment/Residential ApartmentSaid Property, the Allottee Purchaser shall not be entitled to transfer/nominate/assign his/her/its rights under this Agreement in favour of any third party except with the prior written consent of the PromoterVendor and subject to payment of the transfer charges/nomination fees to the Vendor as mentioned hereinafter. The Promoter Vendor may allow the Allottee Purchaser to transfer transfer/nominate/assign his/her/its rights under this Agreement in respect of the said Apartment/Residential Apartment Said Property only if all the following conditions are complied with: -: (a) There has been no default whatsoever by or on behalf of the Allottee Purchaser in compliance with and/or performance of any of the its covenants, undertakings and obligations more fully described hereunder as also in the Fifth Schedule hereunder written;under this Agreement or otherwise. (b) A period The Purchaser has made full payment of 18 months should have been completed from all the date amounts due and payable till the time of execution of this Agreementsuch transfer/nomination. (c) The Allottee shall make payment to A minimum period of 1 (one) year has passed from the Promoter towards Transfer Charges/Nomination Fees to be calculated @1% date of the Consideration Amount along with applicable taxes, of the Residential Apartment Cost as stipulated in Clause no. 2 and 3this Agreement. (d) Prior consent in writing is obtained of the Vendor has been received from the Promoter for Vendor regarding the proposed transfer/nomination/assignment or alienation of the said Residential Apartment or any part thereof. (e) The Stamp DutyPurchaser or the assignee/nominee has paid to the Vendor, Registration Transfer Charges/ Nomination Fees and all other expenses payable for execution and registration calculated @ Rs. 300/- (Rupees three hundred only) per square feet plus applicable service tax. 6.2 In case of such Transfer and/or Deed assignment/nomination in favour of Assignment mother or father or spouse or child of the Purchaser, no transfer charge/nomination fees shall be borne and paid by the Allottee and/or his/her nominee subject however to the consent payable. 6.3 It is clarified that inclusion of a new joint Purchaser or change of a joint Purchaser shall be treated as a transfer unless such joint Purchaser is a mother or father or spouse or child of the Promoter. For the purposes of this clause the term “Family Member/s” includes husband, wife, minor son and unmarried daughter wholly dependent on a personoriginal Purchaser. 6.2. The Promoter in its absolute discretion be entitled to refuse consent to 6.4 Any nomination/transfer/disposal etc. of the said Apartment/Residential Apartment to any person not being the Family member of the Allottee if the Allottee intends to make such nomination/transfer/disposal etc. within a period of 1 (one) year from the date of this Agreement and any nomination/transfer/disposal made in contravention/violation of such refusal to give consent conditions mentioned herein, shall be void ab initio. 6.3. In addition to the covenants and obligations hereinbefore contained, the Allottee shall also discharge certain additional obligations towards the Promoter and other Allottees of Joyville Phase 1A or the entire Project more fully described in the Fifth Schedule hereunder written.

Transfer to the Nominee. 6.1. Prior to the execution and registration of the Deed of Sub-Lease/ Assignment and/or Under Lease, as the case may be, (as mentioned herein) in favour of the Allottee in respect of the said Apartment/Residential Apartment, the Allottee shall not be entitled to transfer/nominate/assign his/her/its rights under this Agreement in favour of any third party except with the prior written consent of the Promoter. The Promoter may allow the Allottee to transfer nominate/assign his/her/its rights under this Agreement in respect of the said Apartment/Residential Apartment only if all the following conditions are complied with: - (a) There has been no default whatsoever by or on behalf of the Allottee in compliance with and/or performance of any of the covenants, undertakings and obligations more fully described hereunder as also in the Fifth Schedule hereunder written; (b) A period of 18 months should have been completed from the date of execution of this Agreement. (c) The Allottee shall make payment to the Promoter towards Transfer Charges/Nomination Fees to be calculated @1% of the Consideration Amount along with applicable taxes, of the Residential Apartment Cost as stipulated in Clause no. 2 and 3. (d) Prior consent in writing is obtained from the Promoter for the proposed transfer/nomination/assignment or alienation of the said Residential Apartment or any part thereof. (e) The Stamp Duty, Registration Fees and all other expenses payable for execution and registration of such Transfer and/or Deed of Assignment shall be borne and paid by the Allottee and/or his/her nominee subject however to the consent of the Promoter. For the purposes of this clause the term “Family Member/s” includes husband, wife, minor son and unmarried daughter wholly dependent on a person. 6.2. The Promoter in its absolute discretion be entitled to refuse consent to nomination/transfer/disposal etc. of the said Apartment/Residential Apartment to any person not being the Family member of the Allottee if the Allottee intends to make such nomination/transfer/disposal etc. within a period of 1 (one) year from the date of this Agreement and any nomination/transfer/disposal made in contravention/violation of such refusal to give consent shall be void ab initio. 6.3. In addition to the covenants and obligations hereinbefore contained, the Allottee shall also discharge certain additional obligations towards the Promoter and other Allottees of Joyville Phase 1A Xxxxxxxx Xxxxx 0X or the entire Project more fully described in the Fifth Schedule hereunder written.

Transfer to the Nominee. 6.1. Prior to the execution and registration of the Deed of Sub-Lease/ Assignment and/or Under Lease, as the case may be, (as mentioned herein) in favour of the Allottee in respect of the said Apartment/Residential Apartment, the Allottee 9.1 The Purchaser shall not be entitled to transfer/nominate/transfer/ nominate / assign his/her/his / her / its rights and interest under this Agreement in favour of any third party except with the prior written consent of the PromoterDeveloper and subject to payment of the transfer charges/nomination fees to BPHDCL as mentioned hereinafter. The Promoter may BPHDCL may, at its sole discretion, give its consent and allow the Allottee Purchaser to transfer nominatetransfer/nominate/ assign his/her/its his rights and interest under this Agreement in respect of the said Apartment/Residential Said Apartment only if and Appurtenances upon compliance of all the following conditions are complied with: -conditions: (ai) There has been no default whatsoever by or on behalf of the Allottee Purchaser in compliance with and/or performance of any of the his covenants, undertakings and obligations more fully described hereunder as also in the Fifth Schedule hereunder written;under this Agreement or otherwise. (bii) A period The Purchaser has made payment of 18 months should have been completed from the instalments of the Consideration, Other Deposits and Charges which are payable till the date of execution of this Agreementassignment/nomination and the Transfer Charges /Nomination Fees as mentioned hereinafter. (ciii) The Allottee shall make Purchaser in case of assignment and/or nomination making payment to the Promoter towards BPHDCL, Transfer Charges/Charges / Nomination Fees to be calculated @1% being a fixed sum of Rs 100/- (Rupees One Hundred only) per square feet of the Consideration Amount along with applicable taxes, Standard Built up Area of the Residential Apartment Cost as stipulated in Clause no. 2 and 3Said Apartmentplus applicable GST. (div) Prior consent in writing is obtained from the Promoter BPHDCL for the proposed transfer/nomination/nomination/ assignment or alienation of the said Residential Said Apartment and Appurtenances or any part thereof. (ev) The Stamp DutyPurchaser has signed all the necessary papers and documents (in the format provided by BPHDCL) to effect such transfer in Developer’s record. (vi) Nomination/Transfer will be allowed only after a lock-in period of 1 year commenced from the date of execution of this agreement. (vii) All costs such as stamp duty, Registration Fees registration fees and all other expenses payable for execution and registration of such Transfer and/or Deed of Assignment applicable taxes/duties shall be borne and paid payable by the Allottee and/or hisPurchaser/Transferee. 9.2 The Purchaser shall pay an administrative cost for transfer/ nominate / assign his / her nominee subject however / its rights and interest under this Agreement in favour of any other member of the family in the following cases: (i) Between the date of receipt of the Provisional Allotment Letter and before execution of Agreement for Sale of the Said Apartment and right to use of Car Parking Space, if any, if the first Purchaser intends to change the name of the second Purchaser or vice versa within the Members of the family or intends to delete or include the name of either of the Purchasers or intends to include/ change the name of the Nominee, in that event BPHDCL will affect the change with explicit consent of the Promoterother, provided the Purchaser/s pays the administrative cost of Rs. 15,000/- (fifteen thousand only) plus applicable GST for each and every such change. These changes may be allowed at the discretion of BPHDCL against valid documentary evidence to be submitted by the Purchaser/s in support of his/her/their application to incorporate any of the above changes. (ii) Upon and after Registration of this Agreement for Sale, the charges for the same activity as mentioned above will be at administrative cost of Rs. 35,000/- (Thirty five thousand) plus applicable GST for each and every such change. For the purposes purpose of this clause the term clause, “Family Member/sFamily” includes means husband, wife, minor son and unmarried daughter wholly dependent on a person. 6.2. The Promoter However, in its absolute discretion be entitled to refuse consent to nomination/transfer/disposal etc. case of death of the said ApartmentPurchaser, no transfer fees/Residential Apartment administrative cost shall be payable for transmission to any person not being the Family member spouse or child/children of the Allottee if the Allottee intends to make such nomination/transfer/disposal etc. within a period of 1 (one) year from the date of this Agreement and any nomination/transfer/disposal made in contravention/violation of such refusal to give consent shall be void ab initiodeceased Purchaser, after providing necessary documentary evidence. 6.3. In addition to the covenants and obligations hereinbefore contained, the Allottee shall also discharge certain additional obligations towards the Promoter and other Allottees of Joyville Phase 1A or the entire Project more fully described in the Fifth Schedule hereunder written.

Transfer to the Nominee. 6.1. 8.1 Prior to the execution and registration of the Deed deed of Sub-Lease/ Assignment and/or Under Lease, as the case may be, transfer/conveyance (as mentioned hereinin Article-IX hereto) in favour of the Allottee Purchaser in respect of the said Apartment/Residential ApartmentSaid Unit, the Allottee Purchaser shall not be entitled to transfer/nominate/nominate/ assign his/her/their/its rights under this Agreement in favour of any third party except with the prior written consent of the PromoterDeveloper and subject to payment of the transfer charges/nomination fees to the Developer as mentioned hereinafter. The Promoter Developer may allow the Allottee Purchaser to transfer transfer/ nominate/assign his/her/their/its rights under this Agreement in respect of the said Apartment/Residential Apartment Said Unit only if all the following conditions are complied with: -: (a) There has been no default whatsoever by or on behalf of the Allottee Purchaser in compliance with and/or performance of any of the its covenants, undertakings and obligations more fully described hereunder as also in the Fifth Schedule hereunder written;under this Agreement or otherwise. (b) A period The Purchaser has made full payment of 18 months should have been completed from all the date amounts due and payable till the time of execution of this Agreementsuch transfer/nomination. (c) The Allottee shall make payment to A minimum period of 1 (one) year has passed from the Promoter towards Transfer Charges/Nomination Fees to be calculated @1% date of the Consideration Amount along with applicable taxes, of the Residential Apartment Cost as stipulated in Clause no. 2 and 3this Agreement. (d) Prior consent in writing is obtained of the Developer has been received from the Promoter for Developer regarding the proposed transfer/nomination/assignment or alienation of the said Residential Apartment or any part thereof. (e) The Stamp DutyPurchaser or the assignee/nominee has paid to the Developer, Registration Transfer Charges/ Nomination Fees and all other expenses payable for execution and registration calculated at the rate of such Transfer and/or Deed 2 (two) per cent of Assignment the total consideration amount plus applicable service tax. 8.2 In case of assignment/nomination in favour of mother or father or spouse or child of the Purchaser, no transfer charge/nomination fees shall be borne and paid by the Allottee and/or his/her nominee subject however to the consent payable. 8.3 It is clarified that inclusion of a new joint purchaser or change of a joint purchaser shall be treated as a transfer unless such joint purchaser is a mother or father or spouse or child of the Promoter. For the purposes of this clause the term “Family Member/s” includes husband, wife, minor son and unmarried daughter wholly dependent on a personoriginal Purchaser. 6.2. The Promoter in its absolute discretion be entitled to refuse consent to 8.4 Any nomination/transfer/disposal etc. of the said Apartment/Residential Apartment to any person not being the Family member of the Allottee if the Allottee intends to make such nomination/transfer/disposal etc. within a period of 1 (one) year from the date of this Agreement and any nomination/transfer/disposal made in contravention/violation of such refusal to give consent conditions mentioned herein, shall be void ab initio. 6.3. In addition to the covenants and obligations hereinbefore contained, the Allottee shall also discharge certain additional obligations towards the Promoter and other Allottees of Joyville Phase 1A or the entire Project more fully described in the Fifth Schedule hereunder written.