Common use of Failure to take Possession by Apartment Acquirer Clause in Contracts

Failure to take Possession by Apartment Acquirer. If any Apartment Acquirer fails to take actual physical possession of the Apartment within 60 (sixty) days from the Possession Date, the Apartment Acquirer shall become liable to pay to the Developer RS 1.50 (one rupee fifty paisa) per square feet of Apartment Area for each month of delay in taking possession as holding charges (“Holding Charges”).

Failure to take Possession by Apartment Acquirer. If any Apartment Acquirer fails to take actual physical possession of the Apartment within 60 (sixty) days from the Possession Date, the Apartment Acquirer shall become liable to pay to the Developer RS Rs. 1.50 (one rupee fifty paisa) per square feet of Apartment Area for each month of delay in taking possession as holding charges (“Holding Charges”).