Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of any part or portion of the Total Price, Extras and other charges, or (2) neglects or fails to perform the Buyer's Covenants and/or the obligations on the part of the Buyer to be performed in terms of this Agreement, this Agreement shall, at the option of the Developer, stand cancelled and/or rescinded, upon which the Developer shall refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the Total Price. In the event the Developer condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 1.5% (one point five percent) per month or part thereof (compoundable monthly), for the period of delay, computed from the date the payment became due till the date of payment. However, such right to condone is exclusively vested in the Developer and the Buyer shall not be entitled to claim the same as a matter of right.
Breach of Buyer’s Covenants. 16 12.2 Breach of Owners’ And Developer’s Covenants 16 12.3 Effect 16 13 Taxes 16
Breach of Buyer’s Covenants. The Purchaser acknowledges that payment of the amounts made and due performance and observance of the terms and conditions herein contained and the Purchaser further acknowledges that he/she/it is obligated to perform all the obligations in terms of this Agreement and upon breach of these clauses the Purchaser waives any cause of action and shall lose the right to insist on the specific performance of the Agreement and as such, will not be entitled to any relief whatsoever The Purchaser shall pay interest @ 18% per annum on all sums becoming due hereunder and which the Purchaser fails to pay to the Developer within the period stipulated hereunder for the period during which the Purchaser remain in default. This will be without prejudice to the other rights of the Vendor/Developer hereunder. In case the Purchaser commits default in making payment of the consideration mentioned herein or in observing his covenants herein within time then in such event, the Developer shall give one month's notice in writing to the Purchaser setting out the default or breach complained of and calling upon the Purchaser to remedy the default or breach complained of and if on the expiry of such notice, the Purchaser continues the default or breach, then this agreement shall at the option of the Developer stand terminated and rescinded and also if the Purchaser wishes to cancel and/or withdraw from the Agreement of his own volition then in both such events the Developer shall become entitled to enjoy and/or transfer the said Unit and the Car Parking Space to any person without in any way becoming liable to the Purchaser and upon the Developer having entered unto a contract for sale of the said Unit and the Car Parking Space with any new buyer or buyers, the Developer only after having entered unto a contract for sale of the said Unit and the Car Parking Space with any new buyer or buyers, only thereafter the Developer shall refund to the Purchaser the xxxxxxx money paid by the Purchaser to the Developer after deduction of a sum equivalent to 10% (ten percent) of the consideration as and by way of pre-determined compensation/liquidated damages or service charges.
Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of the Total Price, Extras and other charges after allotment of the Said Unit to the Buyer for a period of more than 3 (three) months from when such payment became due, or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement, or (3) neglects to perform any of the Buyer’s Covenants, then and in such event, without prejudice to any other rights, the Owners and the Developer at their sole discretion/option may,
Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of the Total Price to the Owner and any other amount payable to the Sellers hereunder, or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement or (3) neglects to perform any of the Buyer's Covenants, this Agreement shall, at the option of the Owners, stand cancelled and/or rescinded, upon which the Owners shall refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the Total Price and the Developer shall refund the extra charges, if any received from the Buyer till that date.. Payments made by the Buyer for up-gradation shall be non-refundable. In the event the Owners condone the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 18% (eighteen percent) per annum for the period of delay (computed from the date the payment became due till the date of payment) on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Owners and the Buyer shall not be entitled to claim the same as a matter of right.
Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of any part or portion of the Total Price, Extras and other charges, or
Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of any part or portion of the Total Consideration, Extras and other charges, or (2) neglects or fails to perform the Buyer’s Covenants and/or the obligations on the part of the Buyer to be performed in terms of this Agreement, this Agreement shall, at the option of the Owner , stand cancelled and/or rescinded, upon which the Owner shall refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the Total Consideration, within 60 (sixty) days. In the event the Owner condones the delay of any payment due under the terms of this Agreement, the Buyer shall be liable to pay interest @ 1.5% (one point five percent) per month or part thereof (compoundable monthly), for the period of delay, computed from the date the payment became due till the date of payment. However, such right to condone is exclusively vested upon the Owner and the Buyer shall not be entitled to claim the same as a matter of right.
Breach of Buyer’s Covenants. In the event the Buyer fails and/or neglects to perform any of the Buyer’s Covenants, this Agreement shall, at the option of the Developer, stand cancelled and/or rescinded, upon which the Developer shall refund to the Buyer all payments received till the date of such cancellation, after deducting 10% (ten percent) of the actual amount paid by the Buyer, till the date of such cancellation, as liquidated damages. In the event the Developer condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 15% per annum for the period of delay on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Developer.
Breach of Buyer’s Covenants
