Common use of Charge/Lien Clause in Contracts

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

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