Common use of ASSOCIATIONS OR TRUSTS Clause in Contracts

ASSOCIATIONS OR TRUSTS. If any person purports to represents another person, association or a trust and sign this agreement in that capacity, then the individual so signing shall be personally liable to procure the signatures of the other relevant individuals mandated to sign documents and agreements of this nature, in terms of that association’s constitution or the trust’s Deed of Trust. If the other designated persons either do not exist at the time of signing this document or if their signatures are not procured by the individual signing this agreement within two weeks from date of signature hereof, then and in that event, such person signing shall be personally liable and bound by the terms hereof and shall in all respects be considered to be the Purchaser in terms of this agreement.

ASSOCIATIONS OR TRUSTS. If any person purports to represents another person, association or a trust and sign this agreement in that capacity, then the individual so signing shall be personally liable to procure the signatures of the other relevant individuals mandated to sign documents and agreements of this nature, in terms of that association’s constitution or the trust’s Deed of Trust. If the other designated persons either do not exist at the time of signing this document or if their signatures are not procured by the individual signing this agreement within two weeks from date of signature hereof, then and in that event, such person signing shall be personally liable and bound by the terms hereof and shall in all respects be considered to be the Purchaser in terms of this agreement.. 12 AGENT / NOMINEE AND PROHIBITION ON FURTHER SALE