Common use of DISHONOUR OF PAYMENT INSTRUMENTS Clause in Contracts

DISHONOUR OF PAYMENT INSTRUMENTS. In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available in this agreement. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts and the charges charged by the bank to the Promoter against dishonour of the cheque plus a fixed amount of Rs.1000/= (Rupees one thousand only) for dishonor of each cheque. In the event the said Demand Draft is not tendered within 15 days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts and interest thereof and cheque dishonour charges and the said fixed amount for dishonourment of the cheque, the Promoter may consider the same at its sole discretion. In the event of dishonour of cheque, the Promoter has no obligation to return the original dishonoured cheque.

DISHONOUR OF PAYMENT INSTRUMENTS. In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available in this agreementherein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts and including the dishonour charges charged by the bank to the Promoter against dishonour of the cheque plus a fixed amount of Rs.1000/= (Rupees one thousand Rs. ……………/‐(Rupees only) together with applicable taxes thereon (for dishonor of each chequedishonour). In the event the said Demand Draft is not tendered within 15 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts amounts, interest and interest thereof and cheque dishonour charges and the said fixed amount for dishonourment of the chequepenalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque.

DISHONOUR OF PAYMENT INSTRUMENTS. In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available in this agreement. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts and the charges charged by the bank to the Promoter against dishonour of the cheque plus a fixed amount of Rs.1000/= Rs. /= (Rupees one thousand only) for dishonor of each cheque. In the event the said Demand Draft is not tendered within 15 days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts and interest thereof and cheque dishonour charges and the said fixed amount for dishonourment of the cheque, the Promoter may consider the same at its sole discretion. In the event of dishonour of cheque, the Promoter has no obligation to return the original dishonoured cheque.

DISHONOUR OF PAYMENT INSTRUMENTS. In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available in this agreement. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts and the charges charged by the bank to the Promoter against dishonour of the cheque plus a fixed amount of Rs.1000/= Rs.1,000/= (Rupees one thousand only) for dishonor of each cheque. In the event the said Demand Draft is not tendered within 15 days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts and interest thereof and cheque dishonour charges and the said fixed amount for dishonourment of the cheque, the Promoter may consider the same at its sole discretion. In the event of dishonour of cheque, the Promoter has no obligation to return the original dishonoured cheque.

DISHONOUR OF PAYMENT INSTRUMENTS. In the event of dishonour of any payment instruments or any payment instructions by or on behalf of the Allottee for any reason whatsoever, then the same shall be treated as a default and the Promoter may at its sole discretion be entitled to exercise any recourse available in this agreementherein. Further, the Promoter shall intimate the Allottee of the dishonour of the cheque and the Allottee would be required to promptly tender a Demand Draft of the outstanding amounts including interest at the Applicable Interest Rate from the due date till the date of receipt by the Promoter of all the amounts and including the dishonour charges charged by the bank to the Promoter against dishonour of the cheque plus a fixed amount of Rs.1000/= (Rupees one thousand Rs. 1000/-(Rupees One Thousand only) together with applicable taxes thereon (for dishonor of each chequedishonour). In the event the said Demand Draft is not tendered within 15 7 (seven) days then the Promoter shall be entitled to cancel the allotment, subject to provisions hereunder. In the event the Allottee comes forward to pay the entire outstanding amounts amounts, interest and interest thereof and cheque dishonour charges and the said fixed amount for dishonourment of the chequepenalty thereof, the Promoter may consider the same at its sole discretion. In the event of dishonour of any cheque, the Promoter has no obligation to return the original dishonoured cheque.