HOLDING ORGANISATION definition

HOLDING ORGANISATION means the Association or the Holding Organization of all flat holders of the Building. The flat owners of all the flats of the building including the said purchaser as the Owner of the said flat hereby to be sold shall form and will join and be members of the said organization. The said Holding Organization/Association shall be formed by the said vendor herein upon sale and transfer of all the flats in all the buildings and on payment of all amounts due and payable by the flat purchasers in the respective buildings payable towards the price of the said flat and also other deposits and security in terms of this Agreement and also upon all flat purchasers in the building having taken possession of the respective flats and/or will be deemed to have taken possession of the said flats and the said Holding Organization/Association shall take over management and maintenance and administration and repairs of the common portions of the respective buildings and also of the common portions in the complex AND the Holding Organization/Association shall remain in control management maintenance and administration thereof. The purchaser shall pay proportionately to the said Association the proportionate share of the costs and expenses for the management, maintenance and administration, repairing and up-keeping of the common portion and other expenses necessary in respect of the said Building .

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HOLDING ORGANISATION means the Association or the Holding Organization of all flat holders of the Building. The flat owners of all the flats of the building including the said purchaser as the Owner of the said flat hereby to be sold shall form and will join and be members of the said organization. The said Holding Organization/Association shall be formed by the said vendor/ developer and the confirming parties herein upon sale and transfer of all the flats in all the buildings and on payment of all amounts due and payable by the flat purchaser in the respective buildings payable towards the price of the said flat and also other deposits and security in terms of this Agreement and also upon all flat purchaser in the building having taken possession of the respective flats and/or will be deemed to have taken possession of the said flats and the said Holding Organization/Association shall take over management and maintenance and administration and repairs of the common portions of the respective buildings and also of the common portions in the complex AND the Holding Organization/Association shall remain in control management maintenance and administration thereof. The purchaser shall pay proportionately to the said Association the proportionate share of the costs and expenses for the management, maintenance and administration, repairing and up-keeping of the common portion and other expenses necessary in respect of the said Building .

HOLDING ORGANISATION means any Association or Society that may be formed by the Owners of several flats/units for the common purposes in accordance with Law.

Examples of HOLDING ORGANISATION in a sentence

The Unit Owners amongst themselves shall form a Holding Organization which may be a private limited company, limited liability partnership firm and/or Society or Syndicate and/or Association of Persons (hereinafter referred to as the HOLDING ORGANISATION).
TO OBSERVE the rules framed from time to time by the DEVELOPER/SELLER and upon formation of the HOLDING ORGANISATION by such HOLDING ORGANISATION as the case may be.
In the event of the transfer of the management and administration of the said Building to the HOLDING ORGANISATION in terms of this presents the employees of the Vendor such as watchman, security staff, lift man etc.
Painting with quality paint as often as may (in the opinion of the HOLDING ORGANISATION) be necessary and in a proper and workmanlike manner all the wood metal stone and other work of the property and the external surfaces of all exterior doors of the building and decorating and coloring all such parts of the property as usually are or ought to be.
HOLDING ORGANISATION shall mean a federation of the society/condominium/company to be formed to manage and control the Premises, the common areas and amenities comprised in the said housing complex.
The Buyers shall forthwith notify the Vendor ands/or upon formation, the HOLDING ORGANISATION, of any damage defect or malfunction which may occur in or to any part of the FLAT/ UNIT and/or the HOUSING COMPLEX, water pipes, gas pipes, electrical wiring, air conditioning duct or any other fittings and fixtures therein.
Immediately after the completion of the said building and the possession is made over to the flat owners in the said building the Vendor shall form or cause to be formed an Association or a Society in the said building (hereinafter called the HOLDING ORGANISATION) with such rules and regulations as shall be determined by the Advocates and Solicitors of the Vendor.
The Buyers shall pay the said amounts without raising any objection thereto regularly and punctually within 72 hours to the Vendor and upon formation of the HOLDING ORGANISATION to such HOLDING ORGANISATION.

More Definitions of HOLDING ORGANISATION

HOLDING ORGANISATION means the Association or the Holding Organization of all flat holders of the Building. The flat owners of all the flats of the building including the said purchaser as the Owner of the said flat hereby to be sold shall form and will join and be members of the said organization. The said Holding Organization/Association shall be formed by the said vendor/ developer and the confirming parties herein upon sale and transfer of all the flats in all the buildings and on payment of all amounts due and payable by the flat purchaser in the respective buildings payable towards the price of the said flat and also other deposits and security in terms of this Agreement and also upon all flat purchaser in the building having taken possession of the respective flats and/or will be deemed to have taken possession of the said flats and the said Holding Organization/Association shall take over management and maintenance and administration and repairs of the common portions of the respective buildings and also of the common portions in the complex/building AND the Holding Organization/Association shall remain in control management maintenance and administration thereof. The purchaser shall pay proportionately to the said Association the proportionate share of the costs and expenses for the management, maintenance and administration, repairing and up-keeping of the common portion and other expenses necessary in respect of the said Building .

HOLDING ORGANISATION means a trust to be created under the Indian Trust Act by the Vendor/Developer at a later date with the first trustees being nominated by the Vendor/Developer to take over the overall charge of the said Complex from the Vendor/Developer and inter-alia for the purpose of managing and controlling the maintenance of the Complex.

HOLDING ORGANISATION means the entity to be formed and/or caused to be formed inter alia for the Common Purposes and to assume and perform such other roles and obligations as may be determined by the Developer at its sole and absolute discretion, the nature, composition, constituents, structure, manner of governance, administration, functioning, management etc. of which entity shall be determined by the Developer at its sole and absolute discretion, without any objection being raised by the Purchaser and/or any of the Apartment Holders on any ground whatsoever or howsoever, wherein each Apartment shall represent 1 (one) share, irrespective of the number of Persons owning it, and irrespective of the same Person owning more that 1 (one) Apartment.

HOLDING ORGANISATION means any person/ association or Society