Common use of Charge/Lien Clause in Contracts

Charge/Lien. The Developer shall have first charge and/or lien over the said Apartment for all amounts due and payable by the Allottee to the Developer provided however, if the said Apartment is purchased with assistance of a financial institution, then such charge/lien of the Developer shall stand extinguished on the financial institution provided all dues payable to the Developer are cleared by the Allottee and/or such financial institution.

Charge/Lien. The Developer shall have first charge and/or lien over the said Apartment for all amounts due and payable by the Allottee to the Developer provided however, however if the said Apartment is purchased with assistance of a financial institution, then such charge/lien of the Developer shall stand extinguished on the financial institution provided all dues payable to the Developer are cleared by the Allottee and/or such financial institution.

Charge/Lien. The Developer shall have first charge and/or lien over the said Apartment for all amounts due and payable by the Allottee to the Developer provided however, if the said Apartment is purchased with assistance of a financial institution, then such charge/charge / lien of the Developer shall stand extinguished on the financial institution provided all dues payable to the Developer are cleared by the Allottee and/or such financial institution.