Maintenance Company definition
Examples of Maintenance Company in a sentence
Establishment and all other expenses of the Association or Maintenance Company (including its formation) and also similar expenses of the Builder or any agency looking after the Common Purposes until handing over the same to the Association excluded the commercial space and the area on the roof earmarked for the Commercial use.
CHARGE shall upon formation of the Maintenance Company and its taking over charge of the acts relating to the Common Purposes from the Promoter shall mean the Maintenance Company and till such time the Maintenance Company is formed and takes over charge of the acts relating to the Common Purposes shall mean the Promoter.
The Allottee shall promptly report to the Promoter or Maintenance Company or Association of Apartment allottes as the case may be, of any leakage/seepage of water/sewerage and the like through the roof/floor/wall of the Said Apartment and especially with regard to the external and common walls shared by the Apartment Owners.
The Promoter and the Land Owners have agreed to sell and transfer the proportionate undivided indivisible impartible variable share in the Common Areas and Installations attributable to the Apartment for the benefit of the Allottee and unless the laws for the time being in force otherwise requires such sale and transfer to be carried out in favour of the Association / Maintenance Company, the same shall be conveyed in favour of the Allottee as part of the said Unit, to which the Allottee hereby agrees.
The Promoter may manage and maintain the common parts and utilities of the Project by itself or may hand over these to the Maintenance Company for which all Allottees may be required to execute an Agreement (“Management Agreement”) with the Maintenance Company.