ALIENATION OF LAND ACT Sample Clauses

ALIENATION OF LAND ACT. It is recorded that the provisions of the Alienation of Land Act are not applicable where the purchase price of the property exceeds R250,000.00 or where the PURCHASER is a Trust, Company or Close Corporation.
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ALIENATION OF LAND ACT. In terms of Section 29(A) of the Alienation of Land Act 68 of 1981 (as amended) (in this clause 19 hereinafter referred to as the ACT), a purchaser or prospective purchaser of land may, within five (5) days of signature by him or her, or by his or her agent acting on his or her written authority, of an offer to purchase land or a Deed of Alienation in respect of land, revoke the offer or terminate the Deed of Alienation, as the case may be, by written notice delivered to the SELLER or his or her agent within that period.
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ALIENATION OF LAND ACT. 9.1. Section 29A of the Alienation of Land Act shall apply in the event that; (a) the property price does not exceed R250 000,00; (b) the Purchaser is a natural person; and (c) the Purchaser has no right to nominate a third party as purchaser. 9.2. Should section 29A of the Alienation of Land Act 68 of 1981 be applicable the Purchaser may revoke this offer within 5 working days of the signing of this offer (not including the day of signature) by written notice delivered to the Seller. Such notice will have no effect unless it: (a) is signed by the Purchaser or his/her agent acting on his/her written authority: (b) refers to this agreement as the agreement that is being revoked or terminated as the case may be; and (c) is unconditional.
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ALIENATION OF LAND ACT. 35.1. In terms of Section 29A of the Alienation of Land Act No. 68 of 1981, as amended, the Purchaser of the Property may, within a period of 5 (FIVE) days of the signature by him (or his agent acting on his written authority) of this Agreement and provided that the purchase price is the sum of R250 000,00 (TWO HUNDRED AND FIFTY THOUSAND RAND) or less, revoke or terminate this Agreement, as the case may be, by written notice delivered by the Purchaser to the Seller or its agent within the aforementioned period.
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ALIENATION OF LAND ACT. In the event of the unit not being registerable, any amount(s) paid to the Seller's attorneys on account of the purchase price shall be held in trust. The Seller's attorney is, however, hereby instructed to invest such amount(s) on behalf of the Seller, interest accruing for the benefit of the Purchaser.
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ALIENATION OF LAND ACT. If the purchase price regarding this agreement is R250 000 (Two Hundred and Fifty Thousand Rand) or less, the Purchaser has the right to terminate the contract in accordance with the terms and conditions contained in Act no 68 of 1981, by giving the Seller or the agent written notice within five (5) working days from signing of this offer.
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ALIENATION OF LAND ACT. 8.1 The Alienation of Land Act (No. 68 of 1981) ("ACT") applies to this agreement, and the parties confirm that they have availed themselves with the provisions thereof (& that a copy thereof has been supplied), and consider themselves bound thereby. 8.2 The existence of this agreement will be noted against the Title Deed of the PROPERTY in accordance with the provisions of the ACT, which noting will be effected as soon as possible after the payment of the deposit in terms of clause 3. 8.3 The noting referred to in clause 8.2 will be cancelled simultaneously with registration of transfer of the PROPERTY in the name of the PURCHASER in terms of clause 5. 8.4 The noting (as per clause 8.2) & the cancellation thereof (as per clause 8.3) will be attended to by the SELLER'S attorneys.
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Related to ALIENATION OF LAND ACT

  • Alienation (1) Investments of investors of either Contracting Party shall not be alienated, nationalised, expropriated or subjected to measures having effect equivalent to alienation, nationalisation or expropriation (hereinafter referred to as "alienation") in the territory of the other Contracting Party except for a public purpose, in non-discriminatory manner, under due process of law and against payment of compensation according to the host country legislation. Such compensation shall amount to the genuine value of the investment alienated immediately before the alienation or before the impending alienation became public knowledge, whichever is the earlier, shall include interest at a fair and equitable rate until the date of payment, shall be made without unreasonable delay, be effectively realizable and be freely transferable. (2) The investor affected shall have right, under the law of the Contracting Party making the alienation, to review, by a judicial or other independent authority of that Party, of his or its case and of the valuation of his or its investment in accordance with the principles set out in this paragraph. The Contracting Party making the expropriation shall make every endeavour to ensure that such review is carried out promptly. (3) Where a Contracting Party expropriates the assets of a company which is incorporated or constituted under the law in force in any part of its own territory, and in which investors of the other Contracting Party own shares, it shall ensure that the provisions of paragraph (1) of this Article are applied to the extent necessary to ensure fair and equitable compensation in respect of their investment to such investors of the other Contracting Party who are owners of those shares.

  • Nonalienation The interests of the Executive under this Agreement are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors of the Executive or the Executive’s beneficiary.

  • Transfer of Landlord’s Interest Tenant acknowledges that Landlord has the right to transfer all or any portion of its interest in the Project or Building and in this Lease, and Tenant agrees that in the event of any such transfer, Landlord shall automatically be released from all liability under this Lease and Tenant agrees to look solely to such transferee for the performance of Landlord’s obligations hereunder after the date of transfer and such transferee shall be deemed to have fully assumed and be liable for all obligations of this Lease to be performed by Landlord, including the return of any Security Deposit, and Tenant shall attorn to such transferee.

  • Non-Alienation The Executive shall not have any right to pledge, hypothecate, anticipate or in any way create a lien upon any amounts provided under this Agreement; and no benefits payable hereunder shall be assignable in anticipation of payment either by voluntary or involuntary acts, or by operation of law, except by will or the laws of descent and distribution.

  • Exemption of Landlord from Liability Landlord shall not be liable for any damage or injury to the person, business (or any loss of income therefrom), goods, wares, merchandise or other property of Tenant, Tenant's employees, invitees, customers or any other person in or about the Property, whether such damage or injury is caused by or results from: (a) fire, steam, electricity, water, gas or rain; (b) the breakage, leakage, obstruction or other defects of pipes, sprinklers, wires, appliances, plumbing, air conditioning or lighting fixtures or any other cause; (c) conditions arising in or about the Property or upon other portions of the Project, or from other sources or places; or (d) any act or omission of any other tenant of the Project. Landlord shall not be liable for any such damage or injury even though the cause of or the means of repairing such damage or injury are not accessible to Tenant. The provisions of this Section 6.02 shall not, however, exempt Landlord from liability for Landlord's gross negligence or willful misconduct.

  • Transfer of Agreement Without prior written consent of the WFOE, the Existing Shareholders or the Domestic Company may not assign its rights and obligations hereunder to any third party.

  • Transfers in Violation of Agreement Any Transfer or attempted Transfer of any Stockholder Shares in violation of any provision of this Agreement shall be void, and the Company shall not record such Transfer on its books or treat any purported transferee of such Stockholder Shares as the owner of such shares for any purpose.

  • Transfer of Note Each provision of this Note shall be and remain in full force and effect notwithstanding any negotiation or transfer hereof and any interest herein to any other Holder or participant.

  • Limitation of Landlord’s Liability 35.1. If Landlord is in default under this Lease and, as a consequence, Tenant recovers a monetary judgment against Landlord, the judgment shall be satisfied only out of (a) the proceeds of sale received on execution of the judgment and levy against the right, title and interest of Landlord in the Building and the Project, (b) rent or other income from such real property receivable by Landlord or (c) the consideration received by Landlord from the sale, financing, refinancing or other disposition of all or any part of Landlord’s right, title or interest in the Building or the Project. 35.2. Landlord shall not be personally liable for any deficiency under this Lease. If Landlord is a partnership or joint venture, then the partners of such partnership shall not be personally liable for Landlord’s obligations under this Lease, and no partner of Landlord shall be sued or named as a party in any suit or action, and service of process shall not be made against any partner of Landlord except as may be necessary to secure jurisdiction of the partnership or joint venture. If Landlord is a corporation, then the shareholders, directors, officers, employees and agents of such corporation shall not be personally liable for Landlord’s obligations under this Lease, and no shareholder, director, officer, employee or agent of Landlord shall be sued or named as a party in any suit or action, and service of process shall not be made against any shareholder, director, officer, employee or agent of Landlord. If Landlord is a limited liability company, then the members of such limited liability company shall not be personally liable for Landlord’s obligations under this Lease, and no member of Landlord shall be sued or named as a party in any suit or action, and service of process shall not be made against any member of Landlord except as may be necessary to secure jurisdiction of the limited liability company. No partner, shareholder, director, employee, member or agent of Landlord shall be required to answer or otherwise plead to any service of process, and no judgment shall be taken or writ of execution levied against any partner, shareholder, director, employee, member or agent of Landlord. 35.3. Each of the covenants and agreements of this Article shall be applicable to any covenant or agreement either expressly contained in this Lease or imposed by Applicable Laws and shall survive the expiration or earlier termination of this Lease.

  • Transfer of Units (i) Except as expressly provided in this Agreement, a Member may not sell, exchange, transfer, assign, pledge, hypothecate or otherwise dispose of all or any portion of any of such Member's Units or any interest therein (a "Transfer") (except for a Transfer by Internet World to any Person or by any Member to a Permitted Transferee) without the written consent of the Board, which consent may be withheld for any reason. The Company shall not register any Transfer of a Member's Units or any interest therein, and any such Transfer or registration of Transfer shall be null and void, without the written consent of the Board. An assignee who has not been admitted as a Member shall be entitled only to allocations and distributions with respect to such interest in accordance with this Agreement, and shall have no right to any information or, to the fullest extent permitted by law, accounting of the affairs of the Company, shall not be entitled to inspect the books or records of the Company and shall not have any of the rights of a Member under the Act or this Agreement, but shall otherwise assume in writing prior to such Transfer, other than a pledge (in respect of which such compliance shall be required after sale or foreclosure), all obligations of the assignor hereunder as if such assignee were the assignor; no such assignment shall be valid unless the assumption of obligations described in this sentence has been executed. Neither a Transfer of Units nor the admission of the Transferee thereof as a Member shall discharge the transferor from any obligation hereunder. (ii) The restrictions contained in this SECTION 2.6(a) shall not apply with respect to any Transfer of Units or any part thereof by any Member (a) among its Affiliates, (b) to any lender to whom a Member's Units or any part thereof are assigned or pledged pursuant to a loan agreement, (c) to any Member's spouse or children or to a trust or the trustee or 8 68 trustees of a trust directly or indirectly for the benefit of the Member's spouse, children or a charitable organization, (d) to the Member's executors, administrator, testamentary trustee, legatees or beneficiaries upon the Member's death, or (e) by gift (all such transferees shall be collectively referred to as the "Permitted Transferees"); PROVIDED, that the Permitted Transferee shall execute a counterpart of this Agreement; and PROVIDED, FURTHER that the restrictions contained in this Agreement shall continue to apply to the Units after such Transfer by reference to the original Member; and PROVIDED, FURTHER, that the transferor shall remain liable for all of its obligations under this Agreement that survive.

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