Common use of HOLDING ORGANISATION Clause in Contracts

HOLDING ORGANISATION. 8.1 Immediately after the completion of the said building and the possession is made over to the Unit owners in the said building the Developer/Sellers shall form or cause to be formed an Association or a Society or Syndicate of the Unit owners in the said building (hereinafter called the HOLDING ORGANISATION) with such rules and regulations as shall be determined by the Advocates and Solicitors of the Sellers / Developers. 8.2 The Purchaser shall become a member of the Holding Organisation and hereby agrees to abide by the rules and regulations which shall be framed by the said Holding Organisation for the benefit of all the members of the said Holding Organisation. 8.3 The Purchaser shall be liable and agrees to abide by such further house rules as may be made applicable by the said Holding Organisation. 8.4 As and when the said Holding Organisation is formed, the Purchaser shall become a member of such Holding Organisation and without becoming a member of such Holding Organisation shall not be entitled to avail of the various facilities and/or utilities at the said premises.