Common use of First Charge Clause in Contracts

First Charge. In the event of sale and transfer of its Apartment by the Defaulter Apartment Acquirer, the Developer or the Association, as the case may be, will have first charge and/or lien over the sale proceeds for the purpose of realisation and/or recovery of the Maintenance Default Amount together with interest accrued thereon.

First Charge. In the event of sale and transfer of its Apartment by the Defaulter Apartment Acquirer, the Developer or the Association, as the case may be, will have first charge and/or lien over the sale proceeds for the purpose of realisation and/or recovery of the Maintenance Default Amount together with interest accrued thereon.have