Common use of BREACH AND CANCELLATION Clause in Contracts

BREACH AND CANCELLATION. ‌ If either Party (“the Defaulting Party”) fail to pay any amount, or fail to provide the guarantee(s) required in terms of this Agreement on due date, or commit a breach of any other of the terms and conditions of this agreement then the other party (“the Aggrieved Party”) will be entitled to give the Defaulting Party 5 (five) business days' (unless the transaction has already been lodged at the deeds office for registration, in which event the notice period will be reduced to 24 (twenty-four) hours written notice to remedy such breach. Should the Defaulting Party fail to comply with such notice, the Aggrieved Party shall be entitled, without prejudice to any other rights and remedies that it may have in law including the right to claim damages to: hold the defaulting party to the contract and demand fulfilment of his obligations in terms thereof; or cancel the Agreement without prejudice to the Aggrieved party’s rights without any further notice and claim damages suffered because of such breach. If the cancellation was due to the PURCHASER’S breach the SELLER shall be entitled to: Retain all amounts paid by or on behalf of the PURCHASER on account of the purchase price as liquidated damages; and/or claim all damages suffered by the SELLER by reason of such breach, in which event the parties hereby agree that the SELLER shall be entitled to retain any amounts paid under this agreement in reduction of such damages sustained by the SELLER without prejudice to the SELLER's rights to claim the balance of such damages from the PURCHASER. If the PURCHASER disputes the SELLER'S right to cancel and/or remains in occupation of the UNIT after date of cancellation or purported cancellation, the PURCHASER shall continue to pay interest (including occupational interest) and all levies as herein provided in consideration for continuing to occupy the UNIT. The PURCHASER agrees that, in the event of the Seller instituting legal proceedings against the Purchaser pursuant to a failure by the Purchaser to fulfil any of his obligations in terms of this AGREEMENT, then the PURCHASER shall be liable for all legal costs together with VAT thereon incurred by the SELLER in connection therewith as between attorney and own client, including collection commission (where applicable). Where the Purchaser has forfeited the Deposit and other amounts in favour of the Seller or the Sellers has become entitled to retain the Deposit or other amounts paid to the Trust Account, the Transferring Attorney will be obliged to pay such amounts to the Seller on demand. Upon cancellation of this Agreement for any reason whatsoever, the Purchaser/all persons occupying the Property through him hereby undertakes to vacate the Property within 24 (twenty-four) hours of such cancellation and the Seller shall immediately be entitled to resell the Property. If the Purchaser causes an unjustified delay in the registration of the Property and/or the registration of the bond, which delay results in the relevant documentation not being lodged for registration in the relevant deeds registry at the time of the lodging of the application for the opening of the Register and the registration of the Sectional Plan or the registration of the extension of the Scheme, the Seller will have the right, without prejudice to any other right or remedy he may have in law (including but not limited to the right to claim damages) to either: immediately cancel this Agreement or claim specific performance of the terms and provisions of this Agreement. In the event that the Seller claims specific performance, the Purchaser shall in addition to the monthly levies and the monthly occupational interest, also be liable for the payment of an amount of R10 000,00 (Ten Thousand Rand) per month from the date on which the documentation pertaining to the opening of the Register and the registration of the Sectional Plan or the registration of the extension of the Scheme could have been lodged in the relevant deeds registry until the actual date of lodgment thereof. Initial: _ Notwithstanding anything stated to the contrary herein, the Purchaser shall be entitled to cancel this Agreement by written notice to the Seller if the Seller fails to pass transfer of the Property into the name of the Purchaser within a period of 36 (thirty-six) months from the Signature Date, in which event the Purchaser shall be entitled to a refund of the Reservation Deposit and other amounts (if applicable) as contemplated in Clause 26.‌

BREACH AND CANCELLATION. ‌ If either Party (“the Defaulting Party”) fail fails to pay any amount, or fail fails to provide the guarantee(s) required in terms of this Agreement on due date, or commit commits a breach of any other of the terms and conditions of this agreement Agreement then the other party Party (“the Aggrieved Party”) will be entitled to give the Defaulting Party 5 (five) business days' (unless the transaction has already been lodged at the deeds office for registration, in which event the notice period will be reduced to 24 (twenty-twenty four) hours hours) written notice to remedy such breach. Should the Defaulting Party fail to comply with such notice, the Aggrieved Party shall be entitled, without prejudice to any other rights and remedies that it may have in law including the right to claim damages to: hold the defaulting party to the contract and demand fulfilment of his obligations in terms thereof; or cancel the this Agreement without prejudice to the Aggrieved party’s rights without any further notice and claim damages suffered because of such breach. If and in the cancellation was due to the PURCHASER’S breach the SELLER shall be entitled to: Retain all amounts paid by or on behalf of the PURCHASER on account of the purchase price as liquidated damages; and/or claim all damages suffered by the SELLER by reason of such breach, in which event the parties hereby agree that the SELLER Purchaser is the Defaulting Party, the Seller shall be entitled to retain any amounts all monies paid under this agreement in reduction of such damages sustained by the SELLER without prejudice Purchaser to the SELLERSeller and/or the Seller's rights agents or the Transferring Attorney in terms hereof, including monies paid as a deposit to the Transferring Attorney together with any interest earned thereon; pending determination of damages; or to claim immediate performance and/or payment, of all the obligations of the Defaulting party in terms of this Agreement, including immediate payment of the balance of such damages from the PURCHASER. If the PURCHASER disputes the SELLER'S right to cancel and/or remains in occupation whole of the UNIT after date of cancellation or purported cancellation, the PURCHASER shall continue to pay interest (including occupational interest) and all levies as herein provided in consideration for continuing to occupy the UNIT. The PURCHASER agrees that, Purchase Price in the event of the Seller instituting legal proceedings against Purchaser being the Defaulting Party. Should either Party dispute the other Party’s right to cancel this Agreement, then pending the determination of the dispute, the Purchaser pursuant will be obliged to a failure continue with the payment of all amounts payable by the Purchaser to fulfil any of his obligations him in terms of this AGREEMENT, then Agreement on the PURCHASER shall due dates thereof and the Seller will be liable for all legal costs together with VAT thereon incurred by entitled to recover and accept those payments without prejudice to any of the SELLER Seller’s rights in connection therewith as between attorney and own client, including collection commission (where applicable)terms of this Agreement. Failure to pay any of the aforesaid amounts will constitute a material breach of the Agreement. Where the Purchaser has forfeited the Deposit and other amounts in favour of the Seller or the Sellers has become entitled to retain the Deposit or other amounts paid to the Trust Account, the Transferring Attorney will be obliged to pay such amounts to the Seller on demand. Upon cancellation of this Agreement for any reason whatsoever, the Purchaser/all persons occupying the Property through him hereby undertakes to vacate the Property within 24 (twenty-twenty- four) hours of such cancellation and the Seller shall immediately be entitled to resell the Property. If the Purchaser causes an unjustified delay in the registration of the Property and/or the registration of the bond, which delay results in the relevant documentation not being lodged for registration in the relevant deeds registry at the time of the lodging of the application for the opening of the Sectional Title Register and the registration of the Sectional Plan or the registration of the extension of the SchemePlan, the Seller will have the right, without prejudice to any other right or remedy he may have in law (including but not limited to the right to claim damages) to either: immediately cancel this Agreement or claim specific performance of the terms and provisions of this Agreement. In the event that the Seller claims specific performance, the Purchaser shall in addition to the monthly levies and the monthly occupational interest, also be liable for the payment of an amount of R10 000,00 (Ten Thousand Rand) per month from the date on which the documentation pertaining to the opening of the Sectional Title Register and the registration of the Sectional Plan or the registration of the extension of the Scheme could have been lodged in the relevant deeds registry until the actual date of lodgment lodgement thereof. Initial: _ Notwithstanding anything stated to the contrary herein, the Purchaser shall be entitled to cancel this Agreement by written notice to the Seller if the Seller fails to pass transfer of the Property into the name of the Purchaser within a period of 36 (thirty-six) months from the Signature Date, in which event the Purchaser shall be entitled to a refund of the Reservation Deposit and other amounts (if applicable) as contemplated in Clause 26.‌clause 25. Should the Agreement be cancelled by agreement the Purchaser shall remain liable for costs incurred which costs cannot be recovered from a subsequent purchaser as liquidated damages. Such costs shall include but not be limited to the wasted costs for preparing and drafting documentation not exceeding R5,000.00 (Five Thousand Rand). Should the Agreement be cancelled after complying with clause 8.2 due to the failure of the Purchaser in carrying out any of his obligations in terms of this Agreement the Seller reserves the right to claim from the Purchaser who will be liable to the Seller for payment on demand of a cancellation fee of up to 5% of the Purchase Price as wasted costs as well as Agents commission as liquidated damages. The Reservation Seposit or part thereof shall be used by the Seller/Agent to recover the costs mentioned in clause 27.8 and 27.9. The Seller and Purchaser authorise the Transferring Attorney to pay the amount due to the Agent/Seller from the Transferring Attorneys trust account within 5 (five) days of the cancellation of the Agreement subject to clause 7.2.

BREACH AND CANCELLATION. ‌ If either Party (“the Defaulting Party”) fail to pay any amount, or fail to provide the guarantee(s) required in terms of this Agreement on due date, or commit a breach of any other of the terms and conditions of this agreement then the other party (“the Aggrieved Party”) will be entitled to give the Defaulting Party 5 (five) business days' (unless the transaction has already been lodged at the deeds office for registration, in which event the notice period will be reduced to 24 (twenty-twenty four) hours hours) written notice to remedy such breach. Should the Defaulting Party fail to comply with such notice, the Aggrieved Party shall be entitled, without prejudice to any other rights and remedies that it may have in law including the right to claim damages to: hold the defaulting party to the contract and demand fulfilment of his obligations in terms thereof; or cancel the this Agreement without prejudice to the Aggrieved party’s rights without any further notice and claim damages suffered because of such breach. If and if the cancellation was due to Purchaser being the PURCHASER’S breach defaulting party, the SELLER shall be entitled to: Retain all amounts paid by or on behalf of the PURCHASER on account of the purchase price as liquidated damages; and/or claim all damages suffered by the SELLER by reason of such breach, in which event the parties hereby agree that the SELLER Seller shall be entitled to retain any amounts all monies paid under this agreement in reduction of such damages sustained by the SELLER without prejudice Purchaser to the SELLERSeller and/or the Seller's rights agents or the Transferring Attorney in terms hereof, including monies paid as a deposit to the Transferring Attorney together with any interest earned thereon; pending determination of damages; or to claim immediate performance and/or payment, of all the obligations of the defaulting party in terms of this Agreement, including immediate payment of the balance of such damages from the PURCHASER. If the PURCHASER disputes the SELLER'S right to cancel and/or remains in occupation whole of the UNIT after date of cancellation or purported cancellation, the PURCHASER shall continue to pay interest (including occupational interest) and all levies as herein provided in consideration for continuing to occupy the UNIT. The PURCHASER agrees that, purchase price in the event of the Seller instituting legal proceedings against Purchaser being the defaulting party. Should either party dispute the other party’s right to cancel this Agreement, then pending the determination of the dispute, the Purchaser pursuant will be obliged to a failure continue with the payment of all amounts payable by the Purchaser to fulfil any of his obligations him in terms of this AGREEMENT, then Agreement on the PURCHASER shall due dates thereof and the Seller will be liable for all legal costs together with VAT thereon incurred by entitled to recover and accept those payments without prejudice to any of the SELLER Seller’s rights in connection therewith as between attorney and own client, including collection commission (where applicable)terms of this Agreement. Failure to pay any of the aforesaid amounts will constitute a material breach of the Agreement. Where the Purchaser has forfeited the Deposit and other amounts in favour of the Seller or the Sellers has become entitled to retain the Deposit or other amounts paid to the Trust Account, the Transferring Attorney will be obliged to pay such amounts to the Seller on demand. Upon cancellation of this Agreement for any reason whatsoever, the Purchaser/all persons occupying the Property through him hereby undertakes to vacate the Property within 24 (twenty-twenty- four) hours of such cancellation and the Seller shall immediately be entitled to resell the Property. d If the Purchaser causes an unjustified delay in the registration of the Property and/or the registration of the bond, which delay results in the relevant documentation not being lodged for registration in the relevant deeds registry at the time of the lodging of the application for the opening of the Register and the registration of the Sectional Plan or the registration of the extension of the Scheme, the Seller will have the right, without prejudice to any other right or remedy he may have in law (including but not limited to the right to claim damages) to either: immediately cancel this Agreement or claim specific performance of the terms and provisions of this Agreement. In the event that the Seller claims specific performance, the Purchaser shall in addition to the monthly levies and the monthly occupational interest, also be liable for the payment of an amount of R10 000,00 (Ten Thousand Rand) per month from the date on which the documentation pertaining to the opening of the Register and the registration of the Sectional Plan or the registration of the extension of the Scheme could have been lodged in the relevant deeds registry until the actual date of lodgment lodgement thereof. Initial: _ Notwithstanding anything stated to the contrary herein, the Purchaser shall be entitled to cancel this Agreement by written notice to the Seller if the Seller fails to pass transfer of the Property into the name of the Purchaser within a period of 36 (thirty-six) months from the Signature Date, in which event the Purchaser shall be entitled to a refund of the Reservation Deposit and other amounts (if applicable) as contemplated in Clause 26.‌.

BREACH AND CANCELLATION. ‌ If either Party (“Except as otherwise provided in this paragraph, it is understood and agreed that if Forx Builders Association fails to open the Defaulting Party”) fail to pay any amountExpo on the date and at the place as herein provided, or fail to provide furnish the guarantee(s) required in terms of this Agreement on due datespace to the Exhibitor as herein described, or commit a breach comparable space, it will refund to the Exhibitor all payments paid hereunder, which sum shall be in full satisfaction of all loss or damage suffered by the Exhibitor from such cause. If, however, it becomes necessary to cancel the Expo on account of epidemic, pandemic, viral outbreak, strikes, fires, casualties, acts of God or any other cause beyond Forx Builders’ control, any refunds to Exhibitors of sums paid to Forx Builders shall be handled as follows: All sums paid by Exhibitors to Forx Builders shall first be retained by Forx Builders to reimburse FBA for the total expenses incurred by FBA in the production of the terms and conditions Expo; any excess sums remaining thereafter shall be refunded to individual Exhibitors on a pro rata basis based on the Contract Price actually paid by the Exhibitor, all as determined in the sole discretion of this agreement then Forx Builders. In the other party (“the Aggrieved Party”) will be entitled to give the Defaulting Party 5 (five) business days' (unless the transaction has already been lodged at the deeds office for registration, in which event the notice period will be reduced to 24 (twenty-four) hours written notice to remedy such breach. Should the Defaulting Party fail to comply with such noticeExpo is cancelled for any reason, the Aggrieved Party Exhibitor shall be entitled, without prejudice to and does hereby waive any other rights and remedies that it may have in law including the right to claim claims for damages to: hold the defaulting party to the contract and demand fulfilment of his obligations in terms thereof; or cancel the Agreement without prejudice to the Aggrieved party’s rights without any further notice and claim damages suffered because of resulting from such breachcancellation. If it becomes necessary to postpone the cancellation was due production of the Spring Expo for any reason and Exhibitor elects not to participate in the PURCHASER’S breach the SELLER shall be entitled to: Retain postponed Expo, all amounts paid by or on behalf of the PURCHASER on account of the purchase price as liquidated damages; and/or claim all damages suffered by the SELLER by reason of such breach, in which event the parties hereby agree that the SELLER shall be entitled to retain any amounts paid under this agreement in reduction of such damages sustained by the SELLER without prejudice Exhibitor to the SELLER's rights FBA toward the Contract Price will be refunded, and the Exhibitor shall and does hereby waive any claim for damages. In fairness to claim the balance of such damages from the PURCHASER. If the PURCHASER disputes the SELLER'S right to cancel and/or remains in occupation of the UNIT after date of cancellation or purported cancellationExhibitors and public alike, the PURCHASER shall continue to pay interest (including occupational interest) and all levies as herein provided in consideration for continuing to occupy the UNIT. The PURCHASER agrees that, in the event of the Seller instituting legal proceedings against the Purchaser pursuant to a failure by the Purchaser to fulfil any of his obligations in terms of this AGREEMENT, then the PURCHASER shall be liable for all legal costs together with VAT thereon incurred by the SELLER in connection therewith as between attorney and own client, including collection commission (where applicable). Where the Purchaser has forfeited the Deposit and other amounts in favour of the Seller or the Sellers has become entitled to retain the Deposit or other amounts paid to the Trust Account, the Transferring Attorney will be obliged to pay such amounts to the Seller on demand. Upon cancellation of this Agreement for any reason whatsoever, the Purchaser/all persons occupying the Property through him hereby undertakes to vacate the Property within 24 (twenty-four) hours of such cancellation and the Seller shall immediately be entitled to resell the Property. If the Purchaser causes an unjustified delay in the registration of the Property and/or the registration of the bond, which delay results in the relevant documentation not being lodged for registration in the relevant deeds registry at the time of the lodging of the application for the opening of the Register and the registration of the Sectional Plan or the registration of the extension of the Scheme, the Seller will have the right, without prejudice to any other right or remedy he may have in law (including but not limited to Forx Builders reserves the right to claim damages) to either: immediately cancel this Agreement refuse any exhibit, or claim specific performance any Exhibitor, or employee, which or who in the opinion of the terms Forx Builders is not in the best interest of the Expo, and provisions of this Agreementmay at any time without assigned causes, and without notice, cancel the Contract and remove the Exhibitor, his agents and property from the building. In the event that the Seller claims specific performanceof such cancellation, the Purchaser shall in addition to the monthly levies and the monthly occupational interest, also be liable Exhibitor hereby waives any claim for damages or for the payment recovery of an amount of R10 000,00 (Ten Thousand Rand) per month from the date on which the documentation pertaining to the opening any rental monies. Absolutely no refunds will be made. Abiding by Laws, rules and Ordinances Any Exhibitor violating any of the Register above rules and regulations shall upon oral notification by the registration Forx Builders, forthwith comply with such rules and regulations. The Forx Builders reserves the right, upon refusal of the Sectional Plan or the registration of the extension of the Scheme could have been lodged in the relevant deeds registry until the actual date of lodgment thereof. Initial: _ Notwithstanding anything stated Exhibitor to the contrary hereincomply herewith, the Purchaser shall be entitled to cancel this Agreement by written notice Exhibitor’s lease and to the Seller if the Seller fails remove, at Exhibitor’s expense, its exhibit and to pass transfer of the Property into the name of the Purchaser within a period of 36 (thirty-six) months from the Signature Date, in which event the Purchaser shall be entitled to a refund of the Reservation Deposit and other amounts (if applicable) retain all monies previously paid for rent as contemplated in Clause 26.‌liquidated damages for Exhibitor’s breach.

BREACH AND CANCELLATION. ‌ If either Party (“Except as otherwise provided in this paragraph, it is understood and agreed that if Forx Builders Association fails to open the Defaulting Party”) fail to pay any amountshow on the date and at the place as herein provided, or fail to provide furnish the guarantee(s) required in terms of this Agreement on due datespace to the Exhibitor as herein described, or commit a breach comparable space, it will refund to the Exhibitor all payments paid hereunder, which sum shall be in full satisfaction of all loss or damage suffered by the Exhibitor from such cause. If, however, the Forx Builders is unable to open the Show as herein provided, or is compelled to postpone or relocate said Show on account of strikes, fires, casualties, acts of God or other causes beyond Forx Builders Association’s control, then it shall not be obligated to refund to the Exhibitor any payments paid hereunder nor shall Forx Builders be liable to the Exhibitor for any loss of any other kind arising out of the terms cancellation, relocation or rescheduling of the Show. In fairness to the Exhibitors and conditions of this agreement then the other party (“the Aggrieved Party”) will be entitled to give the Defaulting Party 5 (five) business days' (unless the transaction has already been lodged at the deeds office for registration, in which event the notice period will be reduced to 24 (twenty-four) hours written notice to remedy such breach. Should the Defaulting Party fail to comply with such noticepublic alike, the Aggrieved Party shall be entitled, without prejudice to any other rights and remedies that it may have in law including Forx Builders reserves the right to claim damages to: hold refuse any exhibit, or any Exhibitor, or employee, which or who in the defaulting party to opinion of the contract Forx Builders is not in the best interest in the Show, and demand fulfilment of his obligations in terms thereof; or may at any time without assigned causes, and without notice, cancel the Agreement without prejudice to Contract and remove the Aggrieved party’s rights without any further notice Exhibitor, his agents and claim damages suffered because of such breach. If the cancellation was due to the PURCHASER’S breach the SELLER shall be entitled to: Retain all amounts paid by or on behalf of the PURCHASER on account of the purchase price as liquidated damages; and/or claim all damages suffered by the SELLER by reason of such breach, in which event the parties hereby agree that the SELLER shall be entitled to retain any amounts paid under this agreement in reduction of such damages sustained by the SELLER without prejudice to the SELLER's rights to claim the balance of such damages property from the PURCHASER. If the PURCHASER disputes the SELLER'S right to cancel and/or remains in occupation of the UNIT after date of cancellation or purported cancellation, the PURCHASER shall continue to pay interest (including occupational interest) and all levies as herein provided in consideration for continuing to occupy the UNIT. The PURCHASER agrees that, in the event of the Seller instituting legal proceedings against the Purchaser pursuant to a failure by the Purchaser to fulfil any of his obligations in terms of this AGREEMENT, then the PURCHASER shall be liable for all legal costs together with VAT thereon incurred by the SELLER in connection therewith as between attorney and own client, including collection commission (where applicable). Where the Purchaser has forfeited the Deposit and other amounts in favour of the Seller or the Sellers has become entitled to retain the Deposit or other amounts paid to the Trust Account, the Transferring Attorney will be obliged to pay such amounts to the Seller on demand. Upon cancellation of this Agreement for any reason whatsoever, the Purchaser/all persons occupying the Property through him hereby undertakes to vacate the Property within 24 (twenty-four) hours of such cancellation and the Seller shall immediately be entitled to resell the Property. If the Purchaser causes an unjustified delay in the registration of the Property and/or the registration of the bond, which delay results in the relevant documentation not being lodged for registration in the relevant deeds registry at the time of the lodging of the application for the opening of the Register and the registration of the Sectional Plan or the registration of the extension of the Scheme, the Seller will have the right, without prejudice to any other right or remedy he may have in law (including but not limited to the right to claim damages) to either: immediately cancel this Agreement or claim specific performance of the terms and provisions of this Agreementbuilding. In the event that the Seller claims specific performanceof such cancellation, the Purchaser shall in addition to the monthly levies and the monthly occupational interest, also be liable Exhibitor hereby waives any claim for damages or for the payment recovery of an amount any rental monies. Cancellation of R10 000,00 (Ten Thousand Rand) per month from the date on which the documentation pertaining to the opening exhibit area must be made in writing . Absolutely no refunds will be made. Abiding by Laws, rules and Ordinances Any Exhibitor violating any of the Register above rules and regulations shall upon oral notification by the registration Forx Builders, forthwith comply with such rules and regulations. The Forx Builders reserves the right, upon refusal of the Sectional Plan or the registration of the extension of the Scheme could have been lodged in the relevant deeds registry until the actual date of lodgment thereof. Initial: _ Notwithstanding anything stated Exhibitor to the contrary hereincomply herewith, the Purchaser shall be entitled to cancel this Agreement by written notice Exhibitor’s lease and to the Seller if the Seller fails remove, at Exhibitor’s expense, its exhibit and to pass transfer of the Property into the name of the Purchaser within a period of 36 (thirty-six) months from the Signature Date, in which event the Purchaser shall be entitled to a refund of the Reservation Deposit and other amounts (if applicable) retain all monies previously paid for rent as contemplated in Clause 26.‌liquidated damages for Exhibitor’s breach.

BREACH AND CANCELLATION. ‌ If either Party (“the Defaulting Party”) fail to pay any amount, or fail to provide the guarantee(s) required in terms of this Agreement on due date, or commit a breach of any other of the terms and conditions of this agreement then the other party (“the Aggrieved Party”) will be entitled to give the Defaulting Party 5 (five) business days' (unless the transaction has already been lodged at the deeds office for registration, in which event the notice period will be reduced to 24 (twenty-twenty four) hours hours) written notice to remedy such breach. Should the Defaulting Party fail to comply with such notice, the Aggrieved Party shall be entitled, without prejudice to any other rights and remedies that it may have in law including the right to claim damages to: hold the defaulting party to the contract and demand fulfilment of his obligations in terms thereof; or cancel the this Agreement without prejudice to the Aggrieved party’s rights without any further notice and claim damages suffered because of such breach. If and if the cancellation was due to Purchaser being the PURCHASER’S breach defaulting party, the SELLER shall be entitled to: Retain all amounts paid by or on behalf of the PURCHASER on account of the purchase price as liquidated damages; and/or claim all damages suffered by the SELLER by reason of such breach, in which event the parties hereby agree that the SELLER Seller shall be entitled to retain any amounts all monies paid under this agreement in reduction of such damages sustained by the SELLER without prejudice Purchaser to the SELLERSeller and/or the Seller's rights agents or the Transferring Attorney in terms hereof, including monies paid as a deposit to the Transferring Attorney together with any interest earned thereon; pending determination of damages; or to claim immediate performance and/or payment, of all the obligations of the defaulting party in terms of this Agreement, including immediate payment of the balance of such damages from the PURCHASER. If the PURCHASER disputes the SELLER'S right to cancel and/or remains in occupation whole of the UNIT after date of cancellation or purported cancellation, the PURCHASER shall continue to pay interest (including occupational interest) and all levies as herein provided in consideration for continuing to occupy the UNIT. The PURCHASER agrees that, purchase price in the event of the Seller instituting legal proceedings against Purchaser being the defaulting party. Should either party dispute the other party’s right to cancel this Agreement, then pending the determination of the dispute, the Purchaser pursuant will be obliged to a failure continue with the payment of all amounts payable by the Purchaser to fulfil any of his obligations him in terms of this AGREEMENT, then Agreement on the PURCHASER shall due dates thereof and the Seller will be liable for all legal costs together with VAT thereon incurred by entitled to recover and accept those payments without prejudice to any of the SELLER Seller’s rights in connection therewith as between attorney and own client, including collection commission (where applicable)terms of this Agreement. Failure to pay any of the aforesaid amounts will constitute a material breach of the Agreement. Where the Purchaser has forfeited the Deposit and other amounts in favour of the Seller or the Sellers has become entitled to retain the Deposit or other amounts paid to the Trust Account, the Transferring Attorney will be obliged to pay such amounts to the Seller on demand. Upon cancellation of this Agreement for any reason whatsoever, the Purchaser/all persons occupying the Property through him hereby undertakes to vacate the Property within 24 (twenty-twenty- four) hours of such cancellation and the Seller shall immediately be entitled to resell the Property. If the Purchaser causes an unjustified delay in the registration of the Property and/or the registration of the bond, which delay results in the relevant documentation not being lodged for registration in the relevant deeds registry at the time of the lodging of the application for the opening of the Register and the registration of the Sectional Plan or the registration of the extension of the Scheme, the Seller will have the right, without prejudice to any other right or remedy he may have in law (including but not limited to the right to claim damages) to either: immediately cancel this Agreement or claim specific performance of the terms and provisions of this Agreement. In the event that the Seller claims specific performance, the Purchaser shall in addition to the monthly levies and the monthly occupational interest, also be liable for the payment of an amount of R10 000,00 (Ten Thousand Rand) per month from the date on which the documentation pertaining to the opening of the Register and the registration of the Sectional Plan or the registration of the extension of the Scheme could have been lodged in the relevant deeds registry until the actual date of lodgment lodgement thereof. Initial: _ Notwithstanding anything stated to the contrary herein, the Purchaser shall be entitled to cancel this Agreement by written notice to the Seller if the Seller fails to pass transfer of the Property into the name of the Purchaser within a period of 36 (thirty-six) months from the Signature Date, in which event the Purchaser shall be entitled to a refund of the Reservation Deposit and other amounts (if applicable) as contemplated in Clause 26.‌clause 26. Should the contract be cancelled by agreement the Purchaser shall remain liable for costs incurred which costs cannot be recovered from a subsequent purchaser as liquidated damages. Such costs shall include but not be limited to the wasted costs for preparing and drafting documentation not exceeding R5,000.00 (Five Thousand Rand). Should the sale be cancelled after complying with clause 8.2 due to the failure of the Purchaser in carrying out any of his obligations in terms of this agreement the Seller reserves the right to claim from the Purchaser who will be liable to the Seller for payment on demand of a cancellation fee of up to 5% of the Purchase Price as wasted costs as well as Agents commission as liquidated damages. The reservation deposit or part thereof shall be used by the Seller/Agent to recover the costs mentioned in clause 28.8 and 28.9. The Seller and Purchaser authorise the Transferring Attorney to pay the amount due to the Agent/Seller from the Transferring Attorneys trust account within 5 (five) days of the cancellation of the agreement subject to clause 7.2.