Common use of Maintenance Charge Clause in Contracts

Maintenance Charge. The Purchaser shall pay the Maintenance Charge from the Possession Date mentioned in Schedule-R. The rate of the Maintenance Charge at any given point of time will be fixed on the then prevailing market prices, costs and/or rates. The Maintenance Charge and all other charges that the Purchaser will be required to pay will be calculated on the Super Built-Up Area of the Unit of the Purchaser mentioned in Schedule-M. In case the Purchaser defaults in making any payment to the Developer, Phase Association or the Complex Association, as the case may be, within the time stipulated to make such payment, hereafter referred to as the "Default Amount", the Developer, Phase Association or the Complex Association, as the case may be, shall be entitled to withhold all or any of the utilities, facilities and/or services to the Purchaser till the entire Default Amount and the interest thereon is paid. The Developer, Phase Association or the Complex Association, as the case may be, shall further be entitled to charge interest on the Default Amount or the unpaid part or portion thereof, @ 2% (two per cent) per month, compoundable monthly, till the Default Amount including damages suffered or costs incurred due to delay in making payment of the Default Amount or for realisation of the Default Amount is fully paid.

Maintenance Charge. The Purchaser Allottee shall pay the Maintenance Charge from the Possession Date mentioned in Schedule-R. Date. The rate of the Maintenance Charge at any given point of time will be fixed on the then prevailing market prices, costs and/or rates. The Maintenance Charge and all other charges that the Purchaser Allottee will be required to pay will be calculated on the Super Built-Up Area of the Unit of the Purchaser Allottee mentioned in Schedule-M. In case the Purchaser Allottee defaults in making any payment to the Developer, Phase Association or the Complex Association, as the case may be, within the time stipulated to make such payment, hereafter hereinafter referred to as the "Default Amount", the Developer, Phase Association or the Complex Association, as the case may be, shall be entitled to withhold all or any of the utilities, facilities and/or services to the Purchaser Allottee, including utilization of the Club, till the entire Default Amount and the interest thereon is paid. The Developer, Phase Association or the Complex Association, as the case may be, shall further be entitled to charge interest on the Default Amount or the unpaid part or portion thereof, @ 2% (two per cent) per month, compoundable monthly, till the Default Amount including damages suffered or costs incurred due to delay in making payment of the Default Amount or for realisation of the Default Amount is fully paid.