Common use of Maintenance Clause in Contracts

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% per annum will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 9 contracts

Samples: Agreement for Sale, Agreement for Sale, Agreement for Sale

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Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 7 contracts

Samples: Agreement for Sale, Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5%% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 6 contracts

Samples: Agreement for Sale, Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12[ ]% per annum will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 5 contracts

Samples: Agreement for Sub Lease, Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 5 contracts

Samples: Agreement for Sale, Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5%% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 4 contracts

Samples: Agreement for Sale, Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12[ ]% per annum will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 4 contracts

Samples: Agreement for Sale, Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% per annum will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 3 contracts

Samples: Agreement for Sale, Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project Complex the Promoter Developer will hand over its management for maintenance to the Association for which the Allottee Purchaser may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Purchaser will be required to complete the formalities of becoming a member of the Association. The Allottee Purchaser shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment Designated unit or common areas and facilities in the ProjectComplex. In the event the Association has been formed but there is/are Apartments Designated units in the Building that are not sold by the PromoterDeveloper, till such time the unsold Apartments Designated units are not sold or transferred, all outgoings pertaining to the unsold Apartments Designated units shall be payable by the PromoterDeveloper. Further the Allottees Purchasers and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments Designated units to any of the prospective AllotteesPurchasers. For the enjoyment and maintenance of the common areas and facilities of the ProjectComplex, the Allottee Purchaser shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter Developer and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Purchaser fails to pay: (i) the Allottee Purchaser shall not be entitled to avail any maintenance services; (ii) interest @ 121.5% per annum month will become payable by the AllotteePurchaser; and (iii) the PromoterDeveloper/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee Purchaser shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

Maintenance. Since the share/interest of the Allottee in the Common Areas of the said Project is undivided and cannot be divided or separated, the Allottees of both the towers shall use all Common Areas along with other occupants, maintenance staff etc. of the Project, without causing any inconvenience or hindrance to them. It is clarified that the Promoter shall hand over the Common Areas to the association of allottees after duly obtaining the completion certificate from the competent authority for the Project. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 121.5% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

Maintenance. Since the share/interest of the Allottee in the Common Areas of the said Project is undivided and cannot be divided or separated, the Allottees of both the towers shall use all Common Areas along with other occupants, maintenance staff etc. of the Project, without causing any inconvenience or hindrance to them. It is clarified that the Promoter shall hand over the Common Areas to the association of allottees after duly obtaining the completion certificate from the competent authority for the Project. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 121.5% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Allottees fails to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 12% per annum will become payable by the AllotteeAllottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 121.5% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 2 contracts

Samples: Agreement for Sub Lease, Agreement for Sub Lease

Maintenance. Upon completion of the Project the Promoter Seller will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the PromoterSeller, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the PromoterSeller. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter Seller and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Allottees fails to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 12% per annum will become payable by the AllotteeAllottees; and (iii) the PromoterSeller/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill. That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Seller (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto date.

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the t9he association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5%% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 2 contracts

Samples: Agreement for Sale, Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Allottees fails to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 12% per annum will become payable by the AllotteeAllottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter Owner will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the PromoterOwner, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the PromoterOwner. Further the Allottees Allottee and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective AllotteesAllottee. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter Owner and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails fail to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12[1.5] % per annum month will become payable by the Allottee; and (iii) the PromoterOwner/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. Allottees.‌‌‌‌‌ For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees Allottee and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective AllotteesAllottee. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD falls advance maintenance chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD falls advance maintenance chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold assigned or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 1218% per annum will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Assignment

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails Allottees fail to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the AllotteeAllottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD falls Advance Maintenance Chargesfalls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold assigned or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Allottees fails to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 1218% per annum will become payable by the AllotteeAllottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Assignment

Maintenance. Upon completion of the Project the Promoter Owner will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the PromoterOwner, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the PromoterOwner. Further the Allottees Allottee and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective AllotteesAllottee. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter Owner and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails fail to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12[1.5] % per annum month will become payable by the Allottee; and (iii) the PromoterOwner/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (Maintenance AgreementAgreement ”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/is/ are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or and/ or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Promoter/ Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD falls advance maintenance chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Since the share/interest of the Allottee in the Common Areas of the said Project is undivided and cannot be divided or separated, the Allottees of both the towers shall use all Common Areas along with other occupants, maintenance staff etc. of the Project, without causing any inconvenience or hindrance to them. It is clarified that the Promoter shall hand over the Common Areas to the association of allottees after duly obtaining the completion certificate from the competent authority for the Project. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5_]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD falls advance maintenance chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sale

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Maintenance. Upon completion of the Project Complex the Promoter Developer will hand over its management for maintenance to the Association for which the Allottee Purchaser may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Purchaser will be required to complete the formalities of becoming a member of the Association. The Allottee Purchaser shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment Designated unit or common areas and facilities in the ProjectComplex. In the event the Association has been formed but there is/are Apartments Designated units in the Building that are not sold by the PromoterDeveloper, till such time the unsold Apartments Designated units are not sold or transferred, all outgoings pertaining to the unsold Apartments Designated units shall be payable by the PromoterDeveloper. Further the Allottees Purchasers and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments Designated units to any of the prospective AllotteesPurchasers. For the enjoyment and maintenance of the common areas and facilities of the ProjectComplex, the Allottee Purchaser shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter Developer and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Purchaser fails to pay: (i) the Allottee Purchaser shall not be entitled to avail any maintenance services; (ii) interest @ 121.5% per annum month will become payable by the AllotteePurchaser; and (iii) the PromoterDeveloper/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee Purchaser shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter Seller will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the PromoterSeller, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the PromoterSeller. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter Seller and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Allottees fails to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 12% per annum will become payable by the AllotteeAllottees; and (iii) the PromoterSeller/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx. That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Seller (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto date.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold assigned or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 1218% per annum will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Assignment

Maintenance. Since the share/interest of the Allottee in the Common Areas of the said Project is undivided and cannot be divided or separated, the Allottees of both the towers shall use all Common Areas along with other occupants, maintenance staff etc. of the Project, without causing any inconvenience or hindrance to them. It is clarified that the Promoter shall hand over the Common Areas to the association of allottees after duly obtaining the completion certificate from the competent authority for the Project. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 121.5% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD falls Advance Maintenance Chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12[_ ]% per annum will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD falls Advance Maintenance Chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sub Lease

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees Allottee and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective AllotteesAllottee. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD falls advance maintenance chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. Allottees.‌‌‌‌‌ For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Since the share/interest of the Allottee in the Common Areas of the said Project is undivided and cannot be divided or separated, the Allottees of both the towers shall use all Common Areas along with other occupants, maintenance staff etc. of the Project, without causing any inconvenience or hindrance to them. It is clarified that the Promoter shall hand over the Common Areas to the association of allottees after duly obtaining the completion certificate from the competent authority for the Project. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5_]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold assigned or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Allottees fails to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 1218% per annum will become payable by the AllotteeAllottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Assignment

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be shallbe payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the t9he association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5%% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails Allottees fail to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the AllotteeAllottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD falls Advance Maintenance Chargesfalls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5%% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD falls Advance Maintenance Chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12[_ ]% per annum will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD falls Advance Maintenance Chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sub Lease

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (Maintenance AgreementAgreement ”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/is/ are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or and/ or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the Allottee; and (iii) the Promoter/Promoter/ Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD falls advance maintenance chargesfalls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill.

Appears in 1 contract

Samples: Agreement for Sale

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there isIN THE EVENT THE ASSOCIATION HAS BEEN FORMED BUT THERE IS/are Apartments in the Building that are not sold by the PromoterARE APARTMENTS IN THE BUILDING THAT ARE NOT SOLD BY THE PROMOTER, till such time the unsold Apartments are not sold or transferredTILL SUCH TIME THE UNSOLD APARTMENTS ARE NOT SOLD OR TRANSFERRED, all outgoings pertaining to the unsold Apartments shall be payable by the PromoterALL OUTGOINGS PERTAINING TO THE UNSOLD APARTMENTS SHALL BE PAYABLE BY THE PROMOTER. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective AllotteesFURTHER THE ALLOTTEES AND/OR THE ASSOCIATION SHALL NOT DO ANY ACT DEED OR THING WHICH MAY RESTRICT OR IMPEDE TRANSFER OF THE UNSOLD APARTMENTS TO ANY OF THE PROSPECTIVE ALLOTTEES. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 121.5% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sub Lease

Maintenance. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5%% per annum month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx.

Appears in 1 contract

Samples: Agreement for Sale

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