Common use of BREACH BY THE PURCHASER Clause in Contracts

BREACH BY THE PURCHASER. 27.1 Should the Purchaser – 27.1.1 fail to make payment on due date of any amount due to the Seller in terms of this Agreement; or 27.1.2 fail to fulfill any of his other obligations under this Agreement on due date, including failing to sign any documentation relating to the passing of transfer of the Property to the Purchaser and/or delivery of any certificates in terms of this Agreement, and remain in default of such obligation for a period of 7 (seven) days after receipt of written notice from the Seller demanding that the Purchaser rectifying such default then, and in any such event, the Seller shall be entitled, but not obliged, and without prejudice to any other rights the Seller may have in terms of this Agreement or at law to forthwith, and without further notice to the Purchaser, to – 27.1.2.1 claim specific performance by the Purchaser of the Purchaser’s obligations in terms of this Agreement; or 27.1.2.2 terminate this Agreement forthwith, in which event the Purchaser shall forthwith vacate the Property and restore vacant occupation thereof to the Seller. 27.2 Upon termination as a result of the breach by the Purchaser, the Seller shall be entitled to retain the deposit as reasonable pre-estimated damages in addition to any further rights it may have. 27.3 In the event that the Seller incurs any costs in the enforcement of the Seller’s rights in terms of this Agreement, or enforcement of any of the Purchaser’s obligations in terms of this Agreement, pursuant to a breach by the Purchaser of the Purchaser’s obligations in terms of this Agreement, the Purchaser shall be liable for the payment of such costs on a scale as between attorney and own client, including tracing fees and collection commission.

BREACH BY THE PURCHASER. 27.1 Should the Purchaser – 27.1.1 fail to make payment on due date of purchaser commit any amount due to the Seller in terms breach of this Agreement; or 27.1.2 fail to fulfill any of his other obligations under this Agreement on due date, including failing to sign any documentation relating to the passing of transfer of the Property to the Purchaser and/or delivery of any certificates in terms of this Agreement, agreement and remain or persist in default such breach after the expiry of such obligation for a period of 7 seven (seven7) days after receipt dispatch of a written notice from to him requiring him to rectify or remedy such breach, then the Seller demanding that the Purchaser rectifying such default then, and in any such event, the Seller seller shall be entitled, without prejudice to any other remedies that it may have at law, to: 7.1 immediately issue Summons against the purchaser for specific performance and payment of the full balance of the purchase price plus interest and all other amounts still due in terms hereof; OR 7.2 cancel this agreement and to recover all damages suffered by the seller as a result of such cancellation; OR 7.3 immediately cancel this agreement without the mediation of any Court and after that, all amounts paid by the purchaser in terms hereof will be forfeited to the seller as its sole and exclusive property and which shall be retained by it as partial 'rouwkoop' and as a genuine pre-estimate of liquidated damages suffered by it as a result of such cancellation. The parties agree that any amount thus retained represents a fair and reasonable estimate of the Sellers damages, but not obligedsuch damages shall always be subject to clause 7.5 hereof. 7.4 Should the agreement be cancelled as envisaged in clauses 7.2 and 7.3 above, the purchaser will immediately forfeit or abandon any rights which he may have acquired in and to the land to the seller and, as a result of this, irrevocably agrees and undertakes to vacate the ground immediately. 7.5 Notwithstanding the provisions of clauses 7.2 and 7.3 hereof and without prejudice to any of the seller's other rights rights, the Seller may have in terms parties agree that an amount of this Agreement or at law to forthwith, and without further notice R10,000 (Ten Thousand Rand) will be forfeited by the purchaser to the Purchaser, seller as an agreed penalty should this agreement be cancelled for any reason whatsoever. The seller's attorneys are irrevocably authorised to – 27.1.2.1 claim specific performance deduct this amount from the deposit and pay the same over to the seller. The parties acknowledge and agree that such a penalty is a fair and reasonable amount proportionate to the damages suffered (or which may be suffered) by the Purchaser of the Purchaser’s obligations in terms of this Agreement; or 27.1.2.2 terminate this Agreement forthwith, in which event the Purchaser shall forthwith vacate the Property seller within their contemplation and restore vacant occupation thereof is deliberately and specifically enacted to the Seller. 27.2 Upon termination as a result of the breach by the Purchaser, the Seller shall be entitled to retain the deposit as reasonable pre-estimated damages in addition to any further rights it may have. 27.3 In the event that the Seller incurs any costs in the enforcement of the Seller’s rights in terms of this Agreement, or enforcement of any of the Purchaser’s obligations in terms of this Agreement, pursuant to a breach by the Purchaser of the Purchaser’s obligations in terms of this Agreement, the Purchaser shall be liable provide for the payment of such costs on a scale as between attorney and own client, including tracing fees and collection commissionpurchaser's failure default.