Common use of AGREEMENT FOR SALE Clause in Contracts

AGREEMENT FOR SALE. 2.1 Subject to the terms and conditions contained in this Agreement, in consideration of the value attributable to the Property, which constitutes a portion of the Local Purchase Price (as defined in the LATA) and One Dollar U.S. (US$1.00) (receipt of which the Vendor hereby acknowledges) (collectively, the “Price”) and the mutual promises, covenants and undertakings contained herein, in the APA, the LATA and the Tenancy Agreement, the Vendor shall sell, and the Purchaser, shall purchase the Property. The Parties acknowledge that the Local Purchase Price will be paid to the Vendor upon the Closing (as defined in the LATA). 2.2 The Property is sold: (a) free from any Encumbrance; (b) with vacant possession in accordance with Section 10; (c) subject to all express conditions of title registered or to be registered on the separate issue document of title to be issued in respect of the Property which will not differ in any material respects (materiality being determined by Purchaser in its reasonable discretion) from the express conditions of title on the existing issue documents of title for the Land; (d) subject to the existing category of land use affecting the Property, namely the “industrial” category of land; (e) upon the basis that each of the representations and warranties set out or referenced herein are true and accurate in all respects; and (f) subject to its present state and condition on an “as-is where-is” basis.