Common use of Balance Purchase Price Clause in Contracts

Balance Purchase Price. The balance of the purchase price shall be paid: *3.1 in cash against registration of transfer, which shall be secured by a bank guarantee or financial undertaking acceptable to the Seller's Conveyancer, in favour of the Seller by no later than _ (date) and payable on registration of transfer *3.2 from the proceeds of the sale of the Purchaser's property, in cash against registration of transfer, which shall be secured by a bank guarantee or financial undertaking acceptable to the Seller's Conveyancer in favour of the Seller and payable on registration of transfer, which guarantee shall be furnished no later than 7 days after the sale of the Purchaser's property becomes unconditional, or within such reasonable extended period as the Seller might allow. Transfer shall be affected by the Seller's Conveyancers *4.1 as soon as possible *4.2 as close to date of possession as possible *4.3 on or about (date) Possession and vacant occupation of the property will be given to the Purchaser and the Purchaser shall be obliged to take possession thereof, on (date) from which date the Purchaser shall be liable for all municipal rates and taxes, levies, water and/or fees payable on the property, and from which date the property shall be the sole risk, profit or loss of the Purchaser. Should the Seller have made any payment of such a nature for a period after the date of possession, he shall be entitled to a refund thereof pro rata to the period of prepayment. If occupation of the property is taken by the Purchaser before registration of transfer, the Purchaser undertakes not to make any changes or additions to the property until date of registration of transfer. If this agreement is cancelled or lapses, the Purchaser must immediately leave the property and hand it back to the Seller in the same condition as it was when the Purchaser took occupation. The Purchaser will have no claim against the Seller arising out of any changes or additions made to the property by the Purchaser.

Balance Purchase Price. The balance of the purchase price shall be paid: *3.1 in cash against registration of transfer, which shall be secured by a bank guarantee or financial undertaking acceptable to the Seller's Conveyancer, in favour of the Seller by no later than _ (date) and payable on registration of transfer *3.2 from the proceeds of the sale of the Purchaser's property, in cash against registration of transfer, which shall be secured by a bank guarantee or financial undertaking acceptable to the Seller's Conveyancer in favour of the Seller and payable on registration of transfer, which guarantee shall be furnished no later than 7 days after the sale of the Purchaser's property becomes unconditional, or within such reasonable extended period as the Seller might allow. Transfer shall be affected by the Seller's Conveyancers *4.1 as soon as possible *4.2 as close to date of possession as possible *4.3 on or about (date) Possession and vacant occupation of the property will be given to the Purchaser and the Purchaser shall be obliged to take possession thereof, on (date) from which date the Purchaser shall be liable for all municipal rates and taxes, levies, water and/or fees payable on the property, and from which date the property shall be the sole risk, profit or loss of the Purchaser. Should the Seller have made any payment of such a nature for a period after the date of possession, he shall be entitled to a refund thereof pro rata to the period of prepayment. If occupation of the property is taken by the Purchaser before registration of transfer, the Purchaser undertakes not to make any changes or additions to the property until date of registration of transfer. If this agreement is cancelled or lapses, the Purchaser must immediately leave the property and hand it back to the Seller in the same condition as it was when the Purchaser took occupation. The Purchaser will have no claim against the Seller arising out of any changes or additions made to the property by the Purchaser.