Common use of Cancellation by Allottees Clause in Contracts

Cancellation by Allottees. TheALLOTTEES shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the ALLOTTEES proposes to cancel/withdraw from the project without any fault of the promoter, the promoter herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the ALLOTTEES shall be refunded by the promoter to the ALLOTTEES within 45 days of such cancellation without any interest and compensation.

Appears in 4 contracts

Samples: Agreement for Sale, Agreement for Sale, Agreement for Sale

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Cancellation by Allottees. TheALLOTTEES shall The Allottees will have the right to cancel/cancel / withdraw his allotment in the Project as provided in the Act: Provided that where the ALLOTTEES Allottees proposes to cancel/cancel / withdraw from the project without any fault of the promoterPromoter, the promoter Promoter herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the ALLOTTEES shall Allottees will be refunded returned by the promoter Promoter to the ALLOTTEES Allottees within 45 days of such cancellation without any interest and compensationcancellation.

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

Cancellation by Allottees. TheALLOTTEES The Allottees shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the ALLOTTEES Allottees proposes to cancel/withdraw from the project without any fault of the promoterPromoter, the promoter Promoter herein is entitled to forfeit the booking amount or 10% of Agreement value which is lower paid for the allotmentAllotment. The balance amount of money paid by the ALLOTTEES Allottees shall be refunded returned by the promoter Promoter to the ALLOTTEES Allottees within 45 days of such cancellation without any interest and compensationcancellation.

Appears in 1 contract

Samples: Agreement for Sale

Cancellation by Allottees. TheALLOTTEES shall The Allottees will have the right to cancel/cancel / withdraw his allotment in the Project as provided in the Act: . Provided that where the ALLOTTEES Allottees proposes to cancel/cancel / withdraw from the project without any fault of the promoterDeveloper, the promoter Developer herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the ALLOTTEES shall Allottees will be refunded returned by the promoter Developer to the ALLOTTEES Allottees within 45 days of such cancellation without any interest and compensationcancellation.

Appears in 1 contract

Samples: Agreement for Sale

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Cancellation by Allottees. TheALLOTTEES The Allottees shall have the right to cancel/withdraw his their allotment in the Project as provided in the Act: Provided that where the ALLOTTEES Allottees proposes to cancel/withdraw from the project without any fault of the promoterPromoter, the promoter Promoter herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the ALLOTTEES Allottees shall be refunded returned by the promoter Promoter to the ALLOTTEES Allottees within 45 days of such cancellation without any interest and compensationcancellation.

Appears in 1 contract

Samples: Agreement for Sale

Cancellation by Allottees. TheALLOTTEES The Allottees shall have the right to cancel/cancel/ withdraw his their allotment in the Project as provided in the Actper applicable laws: Provided that where the ALLOTTEES Allottees proposes to cancel/withdraw from the project without any fault of the promoterPromoter, the promoter Promoter herein is shall be entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the ALLOTTEES Allottees shall be refunded returned by the promoter Promoter to the ALLOTTEES Allottees within 45 days of such cancellation without any interest and compensationcancellation.

Appears in 1 contract

Samples: Agreement for Sale

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