Breach. 16.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages: 16.1.1 to cancel this Agreement and upon cancellation: - a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or 16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof. 16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession. 16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law. 16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser. 16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 24 contracts
Samples: Deed of Sale, Deed of Sale, Deed of Sale
Breach. 16.1 11.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 11.1.1 to cancel this Agreement and upon cancellation: -
a) 11.1.1.1 if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEERAGENT’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 11.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 11.2 Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 11.3 Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 11.4 Notwithstanding what is contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed of Sale, the parties record and agree that the Agent AGENT shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 11.5 It is recorded further that the deduction by the Agent AGENT of commission due to it under the sale does not absolve the Purchaser PURCHASER from any and all other obligations arising from this Deed of Sale.
Appears in 9 contracts
Samples: Offer to Purchase, Offer to Purchase, Offer to Purchase
Breach. 16.1 If one of 32.1 Should the Parties commits a breach Seller or the Purchaser, as the case may be ("the defaulting Party "):
32.1.1 fail to pay any amount due by the defaulting Party in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party on due date and remain in default for more than 7 (seven) days notice after being notified in writing to do so by the other Party ("the aggrieved Party ") ; or
32.1.2 commit any other breach of any of the provisions of this Agreement and fail to remedy such that breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the within a period of 7 (seven) day period may, at days after the election receipt of written notice to that effect by the other Party ( "the aggrieved Party ") and complete the remedying of such breach within a reasonable time ; or
32.1.3 commit a breach of any of the Aggrieved provisions of this Agreement at a time critical to the registration procedure and fail to remedy that breach within 48 hours after receipt of written notice to that effect by the other party ("the aggrieved Party"); then and in of these events, the aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he aggrieved Party may have in law, including the right to claim damages:
16.1.1 32.1.4 to cancel this Agreement without any further notice and upon cancellation: -
a) if in the event of the Purchaser being the defaulting party is the Purchaser Party, the Seller shall be entitled to retain all amounts monies paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate Purchaser pending determination of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other its damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 32.1.5 to claim immediate performance and/or payment of all the obligations of the defaulting party's obligations Party in terms hereofof this Agreement, including immediate payment of the balance of the purchase price of the Subject Matter in the event of the Purchaser being the defaulting Party.
16.2 32.2 Should the Purchaser dispute the right of the Seller to cancel this Agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by it in terms of this Agreement on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller's claim for cancellation of this Agreement or any other rights of the Seller whatsoever.
32.3 Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property Unit forthwith and shall cease to procure that the Property shall be vacated by have any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required rights under this Deed of Sale, Agreement and the parties record and agree that the Agent Seller shall immediately be entitled to first deduct from any such money paid under this Deed of Sale, resell the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserSubject Matter.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 9 contracts
Samples: Agreement of Sale, Agreement of Sale, Agreement of Sale
Breach. 16.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party aggrieved party shall be entitled to give the Defaulting Party defaulting party 7 (seven) days days’ notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party aggrieved party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEERAuctioneer’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Propertyproperty, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER Auctioneer shall be entitled, but not obliged, to immediately resubmit the Property property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property property and to procure that the Property property shall be vacated by any persons who occupy the Property property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 6 contracts
Samples: Deed of Sale, Deed of Sale, Deed of Sale
Breach. 16.1 25.1 If one of the Parties any party commits a breach of this Agreement or fails to comply with any of the provisions hereofof this Agreement and fails to remedy such breach within 14 (fourteen) days, then or in the Aggrieved Party shall be entitled to give the Defaulting Party instance of any financial obligation or a breach in terms of Clause 10.1 of this Agreement, within 7 (seven) days after receipt of written notice in writing from the other party calling upon it to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationbreach, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damagesterms of this Agreement and or at Law to:
16.1.1 to 25.1.1 cancel this Agreement and upon cancellation: -claim such damages as it may have sustained from the defaulting party;
a) if 25.1.2 claim immediate performance by the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's its obligations in terms hereofof this Agreement whether or not the due date for performance shall otherwise have arrived;
25.2 The Seller may retain any cash payments made by the Purchaser prior to cancellation as liquidated damages, without prejudice to any other right that the Seller may have.
16.2 25.3 Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property forthwith, and to procure that the Property shall be vacated by any persons who occupy the Property it through the Purchaser’s 's title or by his permission. Occupation shall be re- delivered redelivered in the same good order and condition as at the date of possessionOccupation Date.
16.3 Occupancy 25.4 The defaulting party shall pay all legal and other costs, including costs on the attorney and client scale, incurred by the innocent party in successfully enforcing the provisions of the Property this Agreement.
25.5 It is specifically recorded that should any breach by the Purchaser or persons on occur at a time critical to the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Saleregistration procedure, the parties record and agree that the Agent Seller shall be entitled to first deduct from require the Purchaser to remedy such breach within a period of 24 (Twenty Four) hours, and not within the 7 (Seven) days or 14 (Fourteen) days period provided for in Clause 25.1.
25.6 Where the Seller is entitled to retain any such money paid under this Deed cash payments in terms of SaleClause 25.2, the value of Transferring Attorneys is hereby authorized to pay such amounts to the Seller on its commission and any direct costs incurred and recover any shortfall thereon from the Purchaserrequest.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve 25.7 Should the Purchaser from dispute the Seller's right to cancel this Agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by him in terms of this Agreement which will include Levies and Interest on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller's claim for cancellation of this Agreement or any and all other obligations arising from rights of the Seller whatsoever. Failure to pay any of the aforesaid amounts will constitute a material breach of this Deed of SaleAgreement.
Appears in 6 contracts
Samples: Agreement of Sale, Agreement of Sale, Agreement of Sale
Breach. 16.1 If one of 22.1 Should any party (the Parties commits "defaulting party") commit a breach of this Agreement or fails to comply with any of the provisions hereofof this agreement, then the Aggrieved Party party which is not in breach (the "aggrieved party') shall be entitled to give the Defaulting Party 7 (seven) days defaulting party written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)breach. If the defaulting party fails to comply with such that notice then within 7 (seven) days of receipt thereof, subject to any other provisions of this agreement to the innocent contrary, the aggrieved party shall forthwith be entitledentitled to cancel this agreement or to claim specific performance, but not obliged, in either event without prejudice to any other rights or remedies which the he may have in law, including the aggrieved party's right to claim damages:. A foregoing is without prejudice to such other rights as the aggrieved party may have in terms of this agreement, common law or statute.
16.1.1 22.2 In the event of the Seller canceling this agreement in terms of the provisions of clause 22.1, any amount or amounts paid to cancel this Agreement the Seller or the Conveyancers (including any amount paid in trust) shall be forfeited to and upon cancellation: -
a) retained by the Seller as rouwkoop; alternatively, if the defaulting party is Seller so elects, he may recover any damages howsoever incurred as a result of such cancellation (including any losses and expenses on a resale, whether by public auction or private treaty), in which case the amount or amounts paid to the Seller or the Conveyancers as aforesaid (including any amount paid in trust) will not be forfeited as rouwkoop but may be retained by the Seller by way of set-off or partial set off against the damages claimed by the Seller;
22.3 Notwithstanding the a foregoing, should the Seller exercise any of his rights in terms hereof and should the Purchaser dispute the Seller's right to do so, then pending the determination of that dispute, the Purchaser shall continue to pay all amounts payable in terms of this agreement on the due date thereof and to comply with all the terms hereof, and the Seller shall be entitled to recover and accept such payments and/or other performance without prejudice to the Seller's claim to have exercised rights in terms hereof, and in the event of the Seller succeeding in such dispute, the Seller shall be entitled to retain all such amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered received in the same good condition interim as at payment for the date of possession.
16.3 Occupancy of the Property occupational rights exercised and/or enjoyed by the Purchaser or persons on in the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common lawinterim.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 5 contracts
Samples: Sale of Property Agreement, Sale of Property Agreement, Sale of Property Agreement
Breach. 16.1 If one 22.1 Should the Seller or the Purchaser ("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 should the Parties commits defaulting party commit a breach of any other of the terms and conditions of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party and remain in default for 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, may at the election of the Aggrieved Party other party ("the aggrieved party") be reduced to 48 24 (forty eighttwenty four) hours). If ) after dispatch of a written notice requiring payment and/or delivery of the defaulting party fails guarantee(s) and/or requiring such breach to comply with such notice then be remedied, the innocent aggrieved party shall forthwith be entitled, but not obliged, entitled without prejudice to any other rights or remedies which the he aggrieved party may have in law, including the right to claim damages:
16.1.1 22.1.1 to cancel this Agreement without any further notice and upon cancellation: -
a) if the event of the Purchaser being the defaulting party is the Purchaser party, the Seller shall be entitled to retain all amounts monies paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and and/or the Seller's agents or the Seller's Conveyancers in terms hereof, including monies paid as a deposit to the Agent and to claim Seller's Conveyancers together with any other damages from the Seller that it may have suffered as a result interest earned thereon; pending determination of the Seller‘s defaultdamages; or
16.1.2 22.1.2 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 and/or whole of the purchase price in the event of the Purchaser being the defaulting party.
22.2 The Purchaser shall be liable to the Seller to pay the selling agents commission in event of cancellation or default by the Purchaser. If the Seller cancels this Agreement and resells the Property at a lower price, then the Purchaser shall be liable to the Seller for payment of the shortfall.
22.3 Should the Purchaser dispute the right of the Seller to cancel this Agreement and/or remain in occupation of the Unit after the date of cancellation, then pending the determination of that dispute and/or vacation of the Unit, the Purchaser shall be obliged to continue payment of all of the defaulting party's obligations amounts payable by it in terms hereof.
16.2 Upon of this Agreement on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller's claim for cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by or any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy other rights of the Property by Seller whatsoever. Notwithstanding the Purchaser or persons on aforegoing the authority of the Purchaser above occupancy shall not create be regarded as creating a tenancy either in terms of any a statutory provision or at common law.
16.4 Notwithstanding what is contained herein22.4 Upon cancellation of the Agreement for any reason whatsoever, should the Purchaser pay hereby undertakes to vacate forthwith the Unit and all Exclusive Use Areas and shall cease to have any amount as required rights under this Deed of Sale, Agreement and the parties record and agree that the Agent Seller shall immediately be entitled to first deduct from any such money paid under this Deed of Sale, resell the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserProperty.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 5 contracts
Samples: Agreement of Sale, Agreement of Sale, Agreement of Sale
Breach. 16.1 13.1 If one of the Parties parties commits a breach of this Agreement agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party aggrieved party shall be entitled to give the Defaulting Party defaulting party 7 (seven) days days’ notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party aggrieved party be reduced to 48 (forty eight) eight hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 to 13.1.1 To cancel this Agreement agreement and upon cancellation: -
a) if 13.1.1.1 If the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEERAUCTIONEERS’s commission, as rouwkoop or as a genuine pre-pre- estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property PROPERTY for auction; and
b) if 13.1.1.2 If the defaulting party is the Seller SELLER the Purchaser PURCHASER shall be entitled to a full refund of all money paid in terms hereof to the Seller SELLER and to the Agent AUCTIONEER and to claim any other damages from the Seller SELLER that it may have suffered as a result of the Seller‘s SELLER’s default; orOR
16.1.2 to 13.1.2 To claim immediate performance and/or payment of all the defaulting party's ’s obligations in terms hereof.
16.2 13.2 Upon cancellation of this Agreement agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the PurchaserPURCHASER’s title or by his permission. Occupation shall be re- re-delivered to the SELLER in the same good condition as at the date of possession, by the PURCHASER.
16.3 13.3 Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding 13.4 Nothwithstanding what is contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed these rules of Saleauction, the parties record and agree that the Agent AUCTIONEER shall be entitled to first deduct from any such money paid under this Deed these rules of Saleauction, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 13.5 It is recorded further that the deduction by the Agent AUCTIONEER of commission due to it under the sale does not absolve the Purchaser PURCHASER from any and all other obligations arising from this Deed these rules of Saleauction.
Appears in 5 contracts
Samples: Auction Rules and Conditions of Sale, Auction Rules and Conditions of Sale, Auction Rules and Conditions of Sale
Breach. 16.1 13.1 If one of any party (“the Parties defaulting party”) commits a breach of this Agreement or fails to comply and persists with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party such breach for more than 7 (sevenSEVEN) days notice after being called upon in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationrectify same, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 13.1.1 to cancel this Agreement agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultdamages; or
16.1.2 13.1.2 to claim immediate performance and/or payment of all the defaulting party's ’s outstanding obligations in terms hereofhereof and claim damages.
16.2 13.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereincancellation, should the Purchaser pay any amount as required under this Deed of Saledefaulting party have been the Purchaser, the parties record and agree that the Agent Seller shall be entitled to first deduct from any such money paid under this Deed of Saleretain the deposit as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
13.3 Upon cancellation, should the defaulting party have been the Seller, the value Seller shall pay to the Purchaser an amount equal to the deposit paid by the Purchaser and the Purchaser shall be entitled to retain this amount as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
13.4 If the Seller becomes entitled and elects to cancel this Agreement after the Purchaser has taken occupation of its commission the Property, then the Purchaser shall notwithstanding that this Agreement may well be validly cancelled continue to pay the occupational rental, the municipal charges and the levy and any direct costs incurred other amounts as if the Agreement had not been cancelled. The Seller shall be entitled to claim and recover any shortfall thereon from accept payment of such amounts without prejudice to the PurchaserSeller’s claim for cancellation of this Agreement.
16.5 It is recorded further that 13.5 If any party (“the deduction by innocent party”) becomes entitled to enforce a remedy in terms of this Agreement, it will, notwithstanding having chosen a particular remedy, continue to enjoy the Agent of commission due right to enforce any other remedy open to it under as a result of the sale does same instance of breach.
13.6 Notwithstanding the above provisions neither party shall be entitled to cancel the agreement after 7 (seven) days’ notice if the breach complained of is not absolve reasonably capable of being remedied in the Purchaser from any and all other obligations arising from this Deed 7 (seven) day period. In such an event the notice placing the defaulting party on terms to perform shall only entitle the cancellation of Salethe Agreement if the period given to perform is reasonable in the circumstances.
Appears in 4 contracts
Samples: Deed of Sale, Deed of Sale, Deed of Sale
Breach. 16.1 If one 18.1 TKZN reserves the right to terminate this Agreement, if there are reasonable grounds for considering that there is non-performance by the Event Organiser. In the event of any such cancellation or curtailment. the Event Organiser shall forthwith refund to TKZN all monies paid in terms of the Parties commits Agreement for the particular year relating to the Event.
18.2 In the event of a Party (the "Defaulting Party") committing a breach of a provision of this Agreement or fails to comply with any of then, the provisions hereof, then Party which is not in breach (the "Aggrieved Party Party") shall be entitled to give the Defaulting Party written notice to remedy the breach.
18.3 If the Defaulting Party fails to comply with that notice within 5 (five) days of receipt thereof, the Aggrieved Party shall be entitled to cancel this Agreement by written notice or to claim specific performance, without prejudice to the Aggrieved Party's rights to claim damages.
18.4 The foregoing is without prejudice to such other rights the Aggrieved Party may have in terms of this Agreement or in law.
18.5 In the event that the Agreement is cancelled, then each party shall cease forthwith to use the other party's logo and Intellectual Property and any other promotional material prepared under this Agreement. Each party's property shall be returned to the other party within 7 (seven) days notice in writing to remedy such breach of cancellation.
18.7 Should there be any evidence of fraud or failure (unless such breach or failure occurs after corruption on the transfer documents have been lodged in part of Event Organiser during the Deeds Office for registrationexecution of its obligations, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including TKZN reserves the right to claim damages:
16.1.1 to summarily cancel this Agreement.
18.8 TKZN shall also be entitled to terminate this agreement should Event Organiser or any member of its staff, directors or associates, conduct himself or herself in any manner that may adversely affect this Agreement and upon cancellationand/or the working relationship, including but not limited to: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop 18.8.1 making any false statements or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements representations of whatsoever nature or relating to obligations arising from this Agreement;
18.8.2 falsifying any documents or records relating to obligations arising from this Agreement;
18.8.3 Any act of theft, fraud or dishonesty;
18.8.4 Breach of any warranty or indemnity.
18.9 In addition, this Agreement will be terminated with immediate effect in the event that: -
18.9.1 The Event Organiser commits any act which is or, if it may were a natural person would be an act of insolvency, as defined in the Insolvency laws of the Country;
18.9.2 The Event Organiser is liquidated or placed under business rescue and/or judicial management (whether provisional or final, voluntarily or compulsory);
18.9.3 the Event Organiser has any judgment or similar award against it and fails to satisfy or challenge such judgment or award within thirty days after it was granted provided the Event Organiser shall or should have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auctionreasonably been aware thereof; and
b) if the defaulting party 18.9.4 The Event Organiser is the Seller the Purchaser shall deemed to be entitled unable to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reasonpay its debts, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision Legislation,or at common lawotherwise.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 4 contracts
Samples: Event Agreement, Event Hosting Agreement, Event Hosting Agreement
Breach. 16.1 12.1 If one of any party (“the Parties defaulting party”) commits a breach of this Agreement or fails to comply and persists with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party such breach for more than 7 (sevenSEVEN) days notice after being called upon in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationrectify same, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 12.1.1 to cancel this Agreement agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultdamages; or
16.1.2 12.1.2 to claim immediate performance and/or payment of all the defaulting party's ’s outstanding obligations in terms hereofhereof and claim damages.
16.2 12.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereincancellation, should the Purchaser pay any amount as required under this Deed of Saledefaulting party have been the Purchaser, the parties record and agree that the Agent Seller shall be entitled to first deduct from any such money paid under this Deed of Saleretain the deposit as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
12.3 Upon cancellation, should the defaulting party have been the Seller, the value Seller shall pay to the Purchaser an amount equal to the deposit paid by the Purchaser and the Purchaser shall be entitled to retain this amount as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
12.4 If the Seller becomes entitled and elects to cancel this Agreement after the Purchaser has taken occupation of its commission the Property, then the Purchaser shall notwithstanding that this Agreement may well be validly cancelled continue to pay the occupational rental, the municipal charges and the levy and any direct costs incurred other amounts as if the Agreement had not been cancelled. The Seller shall be entitled to claim and recover any shortfall thereon from accept payment of such amounts without prejudice to the PurchaserSeller’s claim for cancellation of this Agreement.
16.5 It is recorded further that 12.5 If any party (“the deduction by innocent party”) becomes entitled to enforce a remedy in terms of this Agreement, it will, notwithstanding having chosen a particular remedy, continue to enjoy the Agent of commission due right to enforce any other remedy open to it under as a result of the sale does same instance of breach.
12.6 Notwithstanding the above provisions neither party shall be entitled to cancel the agreement after 7 (seven) days’ notice if the breach complained of is not absolve reasonably capable of being remedied in the Purchaser from any and all other obligations arising from this Deed 7 (seven) day period. In such an event the notice placing the defaulting party on terms to perform shall only entitle the cancellation of Salethe Agreement if the period given to perform is reasonable in the circumstances.
Appears in 4 contracts
Samples: Deed of Sale, Deed of Sale, Deed of Sale
Breach. 16.1 If one 11.1 Should the TENANT fail to make payment of the Parties commits a any amount due in terms of this agreement or commit any breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled terms and conditions of this agreement and fail to give the Defaulting Party remedy such breach within 7 (seven) days of the posting of written notice in writing to remedy such breach do so, the LANDLORD shall have the right to cancel this agreement forthwith without notice to the TENANT and without prejudice to the LANDLORD's claim for the arrear rent, damages or failure (unless such breach otherwise and further without prejudice to the LANDLORD's rights to enforce specific performance or failure occurs after fulfilment of any of the transfer documents terms and conditions of this agreement which may have been lodged in breached by the Deeds Office TENANT or otherwise and the LANDLORD shall have the right to take whatever action may be necessary for registration, in which case the 7 (seven) day period may, at the election immediate ejectment of the Aggrieved Party be reduced to 48 (forty eight) hours). If TENANT from the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obligedsaid PREMISES, without prejudice to the LANDLORD’s rights to claim any other rights rental already due and such further damages as the LANDLORD may sustain or remedies which the he may have in lawsustained by the reason of the TENANT’s breach of the terms and conditions of the lease agreement, including any legal charges or whatever nature in connection therewith.
11.2 In the event of the LANDLORD cancelling this lease and the TENANT disputing the LANDLORD's right to claim damages:
16.1.1 do so and remaining in occupation of the PREMISES, the TENANT shall, pending the determination of such dispute by litigation or otherwise, continue to cancel this Agreement pay to the LANDLORD an amount equivalent to the monthly rental and upon other sums payable hereunder on the date or dates on which such sums would have been due but for the cancellation: -
a) if , and the defaulting party is the Purchaser the Seller LANDLORD shall be entitled to retain all accept and recover such payments. The acceptance thereof shall be without prejudice to and shall not in any way whatsoever affect the LANDLORD's cancellation. Should the dispute be determined in favour of the LANDLORD, the payments made and received in terms of this clause shall be deemed to be amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate TENANT on account of damage damages suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result LANDLORD by reason of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property lease and/or unlawful holding over by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common lawTENANT.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 4 contracts
Samples: Lease Agreement, Lease Agreement, Lease Agreement
Breach. 16.1 17.1. If one at any time during the existence of the Parties commits This BEE Contract:
17.1.1. You have misrepresented that You are a BEE Compliant Person or have in any way committed a breach of this Agreement or fails to comply with any of the provisions hereofwarranties given by You and set out in This BEE Contract;
17.1.2. You breach any of Your obligations set out in clauses 8.2 to 8.10, then 12, 14, 15, 16 or 20 of This BEE Contract; or
17.1.3. You have made a fraudulent or untrue statement in This BEE Contract or any documents provided by You to the Aggrieved Party CSDP, JSE Member, IH, IHRS or the Registered Shareholder, You shall be entitled to give immediately notify all Specified Issuers, the Defaulting Party 7 (seven) days notice JSE, the Registered Shareholder, CSDP, JSE Member, IH and IHRS in writing to remedy such breach or failure (unless such breach or failure occurs writing.
17.2. At any time after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election learning of the Aggrieved Party be reduced to 48 occurrence of an event contemplated in clause 17.1, any Specified Issuer (forty eightor the Specified Issuer’s Nominee) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but shall not obligedbe obliged to buy from You the Specified BEE Securities issued by that Specified Issuer by giving You and if You are a Beneficial Owner, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser Registered Shareholder written notice, in which event a Sale of those Specified BEE Securities shall be entitled deemed to a full refund of all money paid in have been concluded on the following terms hereof and conditions:
17.2.1. those Specified BEE Securities shall be acquired with effect from the day prior to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result date of the Seller‘s default; oroccurrence of an event contemplated in clause 17.1;
16.1.2 to claim immediate performance and/or payment 17.2.2. the purchase price of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property those Specified BEE Securities shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition Forced Sale Value thereof calculated as at the date of possession.
16.3 Occupancy the occurrence of the Property relevant event, discounted by the Purchaser or persons on percentage set out in that Specified Issuer’s Additional Terms, if any;
17.2.3. the authority of the Purchaser shall not create a tenancy either purchase price as calculated in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereinclause 17.2.2, should less an amount equal to the Purchaser pay any amount as required under this Deed of Saledividends paid by that Specified Issuer to the Registered Shareholder for Your benefit while You were in breach, the parties record and agree that the Agent shall be entitled payable against the registration of those Specified BEE Securities in the name of that Specified Issuer’s Nominee, if the Specified Issuer’s Nominee acquires those Specified BEE Securities, or upon the cancellation of these Specified BEE Securities if the Specified Issuer buys back those Specified BEE Securities;
17.2.4. those Specified BEE Securities and claims, if any, shall be purchased voetstoots and without any warranties or representations of any nature whatsoever, save that:
17.2.4.1. You are the Beneficial Owner, and the Registered Shareholder is the registered holder, of those Specified BEE Securities, or You are an Own Name Client in whose name those Specified BEE Securities are registered, as the case may be; and
17.2.4.2. no person has any right of any nature whatsoever to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaseracquire these Specified BEE Securities.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 4 contracts
Samples: Bee Contract, Bee Contract, Bee Contract
Breach. 16.1 12.1 If one of any party (“the Parties defaulting party”) commits a breach of this Agreement or fails to comply and persists with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party such breach for more than 7 (sevenSEVEN) days notice after being called upon in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationrectify same, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 12.1.1 to cancel this Agreement agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultdamages; or
16.1.2 12.1.2 to claim immediate performance and/or payment of all the defaulting party's ’s outstanding obligations in terms hereofhereof and claim damages.
16.2 12.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereincancellation, should the Purchaser pay any amount as required under this Deed of Saledefaulting party have been the Purchaser, the parties record and agree that the Agent Seller shall be entitled to first deduct from any such money paid under this Deed of Saleretain the deposit as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
12.3 Upon cancellation, should the defaulting party have been the Seller, the value Seller shall pay to the Purchaser an amount equal to the deposit paid by the Purchaser and the Purchaser shall be entitled to retain this amount as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
12.4 If the Seller becomes entitled and elects to cancel this Agreement after the Purchaser has taken occupation of its commission the Property, then the Purchaser shall notwithstanding that this Agreement may well be validly cancelled continue to pay the occupational rental, the municipal charges and the levy and any direct costs incurred and recover any shortfall thereon from other amounts as if the PurchaserAgreement had not been cancelled. The Seller shall be entitled to claim accept payment of such amounts without prejudice to the Seller’s claim for cancellation of this Agreement.
16.5 It is recorded further that 12.5 If any party (“the deduction by innocent party”) becomes entitled to enforce a remedy in terms of this Agreement, it will, notwithstanding having chosen a particular remedy, continue to enjoy the Agent of commission due right to enforce any other remedy open to it under as a result of the sale does same instance of breach.
12.6 Notwithstanding the above provisions neither party shall be entitled to cancel the agreement after 7 (seven) days’ notice if the breach complained of is not absolve reasonably capable of being remedied in the Purchaser from any and all other obligations arising from this Deed 7 (seven) day period. In such an event the notice placing the defaulting party on terms to perform shall only entitle the cancellation of Salethe Agreement if the period given to perform is reasonable in the circumstances.
Appears in 3 contracts
Samples: Deed of Sale, Deed of Sale, Deed of Sale
Breach. 16.1 If one of 18.1 Should the Parties commits a breach Seller or the Purchaser, as the case may be ("the defaulting Party "):
18.1.1 fail to pay any amount due by the defaulting Party in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party on due date and remain in default for more than 7 (seven) days notice after being notified in writing to do so by the other Party ("the aggrieved Party ") ; or
18.1.2 commit any other breach of any of the provisions of this Agreement and fail to remedy such that breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the within a period of 7 (seven) day period may, at days after the election receipt of written notice to that effect by the other Party ( "the aggrieved Party ") and complete the remedying of such breach within a reasonable time ; or
18.1.3 commit a breach of any of the Aggrieved provisions of this Agreement at a time critical to the registration procedure and fail to remedy that breach within 48 hours after receipt of written notice to that effect by the other party ("the aggrieved Party"); then and in of these events, the aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he aggrieved Party may have in law, including the right to claim damages:
16.1.1 18.1.4 to cancel this Agreement without any further notice and upon cancellation: -
a) if in the event of the Purchaser being the defaulting party is the Purchaser Party, the Seller shall be entitled to retain all amounts monies paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate Purchaser pending determination of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other its damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 18.1.5 to claim immediate performance and/or payment of all the obligations of the defaulting party's obligations Party in terms hereofof this Agreement, including immediate payment of the balance of the purchase price of the Subject Matter in the event of the Purchaser being the defaulting Party.
16.2 18.2 Should the Purchaser dispute the right of the Seller to cancel this Agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by it in terms of this Agreement on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller's claim for cancellation of this Agreement or any other rights of the Seller whatsoever.
18.3 Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property Unit forthwith and shall cease to procure that the Property shall be vacated by have any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required rights under this Deed of Sale, Agreement and the parties record and agree that the Agent Seller shall immediately be entitled to first deduct from any such money paid under this Deed of Sale, resell the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserSubject Matter.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 3 contracts
Samples: Agreement of Sale, Agreement of Sale, Agreement of Sale
Breach. 16.1 14.1 If one of the Parties any party commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing of this Agreement and fails to remedy such breach within 14 (Fourteen) Days, or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationinstance of a breach of the obligation as referred to in Clause 8.2 of this Agreement or any financial obligation, in which case the within 7 (sevenSeven) day period mayDays after receipt of written notice from the other party calling upon it to remedy such breach, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damagesterms of this Agreement and or at Law to:
16.1.1 to 14.1.1 cancel this Agreement and upon cancellation: -claim such damages as it may have sustained from the defaulting party;
a) if 14.1.2 claim immediate performance by the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's its obligations in terms hereofof this Agreement whether or not the due date for performance shall otherwise have arrived;
14.2 The Contractor may retain any cash payments made by the Employer prior to cancellation as liquidated damages, without prejudice to any other right that the Contractor may have.
16.2 14.3 Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser Employer, if he took occupation of the Property and/or the Works, hereby undertakes to forthwith vacate the Property and/or the Works forthwith, and to procure that the Property and/or the Works shall be vacated by any persons who occupy the Property it through the Purchaser’s Employer's title or by his permission. Occupation shall be re- delivered redelivered to the Contractor in the same good order and condition as at the date Completion Date. The defaulting party shall pay all legal and other costs, including costs on the attorney and client scale, incurred by the innocent party in successfully enforcing the provisions of possessionthis Agreement.
16.3 Occupancy 14.4 In the event of the Property Contractor being obliged and/or electing to cancel the Agreement in accordance with this Clause 14, then the Employer shall, in addition to the right of the Contractor as referred to in Clause 14.1 above, be liable to pay to the Contractor an amount calculated as follows: (Total Contract Price) less (Amounts Paid and/or Payable in respect of Works already completed) times 35% (Thirty Five) as genuinely pre-estimated damages for the breach of the terms and conditions of this Agreement by the Purchaser Employer.
14.5 The Employer acknowledges that, by reason of his signature hereto, the Contractor will incur certain necessary costs or persons on charges relating amongst other to the authority processing of the Purchaser shall not create a tenancy either Agreement, the preparation of Plan and drawing relative to any loan/Mortgage Bond application and services rendered. In the event therefore, of the Employer electing to cancel this Agreement for whatever reason, and notwithstanding the fulfilment of the conditions precedent (if any) relating to loan/Mortgage Bond finance contained in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed Agreement of Sale, the parties record and agree Employer assumes liability, without recourse, for payment to the Contractor of cancellation costs, calculated as follows:
14.5.1 The amount of R10 000-00 (Ten Thousand Rand) if cancellation is effective prior to the granting of loan finance (if any);
14.5.2 The sum of R30 000-00 (Thirty Thousand Rand) if cancellation is effective after granting of required loan/Mortgage Bond (if any) but prior to commencement of the Works; or
14.5.3 Should the Employer cancel this Agreement after commencement of the Works, the Employer shall be liable for the payment to the Contractor of all costs incurred to the time of cancellation. The Employer acknowledges that the Agent foregoing and the costs stipulated are fair and reasonable and that until such time as the provisions contained in this Clause have been complied with, the Employer shall be entitled unable to first deduct from any such money paid under discharge its liabilities and cancel this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserAgreement for whatever reason.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 3 contracts
Samples: Building Agreement, Building Agreement, Building Agreement
Breach. 16.1 If one of 22.1 Should any party (the Parties commits "defaulting party") commit a breach of this Agreement or fails to comply with any of the provisions hereofof this agreement, then the Aggrieved Party party which is not in breach (the "aggrieved party') shall be entitled to give the Defaulting Party 7 (seven) days defaulting party written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)breach. If the defaulting party fails to comply with such that notice then within 7 (seven) days of receipt thereof, subject to any other provisions of this agreement to the innocent contrary, the aggrieved party shall forthwith be entitledentitled to cancel this agreement or to claim specific performance, but not obliged, in either event without prejudice to any other rights or remedies which the he may have in law, including the aggrieved party's right to claim damages:. A foregoing is without prejudice to such other rights as the aggrieved party may have in terms of this agreement, common law or statute;
16.1.1 22.2 In the event of the Seller cancelling this agreement in terms of the provisions of clause 22.1, any amount or amounts paid to cancel this Agreement the Seller or the Conveyancers (including any amount paid in trust) shall be forfeited to and upon cancellation: -
a) retained by the Seller as rouwkoop; alternatively, if the defaulting party is Seller so elects, he may recover any damages howsoever incurred as a result of such cancellation (including any losses and expenses on a resale, whether by public auction or private treaty), in which case the amount or amounts paid to the Seller or the Conveyancers as aforesaid (including any amount paid in trust) will not be forfeited as rouwkoop but may be retained by the Seller by way of set off or partial set off against the damages claimed by the Seller;
22.3 Notwithstanding the a foregoing, should the Seller exercise any of his rights in terms hereof and should the Purchaser dispute the Seller's right to do so, then pending the determination of that dispute, the Purchaser shall continue to pay all amounts payable in terms of this agreement on the due date thereof and to comply with all the terms hereof, and the Seller shall be entitled to recover and accept such payments and/or other performance without prejudice to the Seller's claim to have exercised rights in terms hereof, and in the event of the Seller succeeding in such dispute, the Seller shall be entitled to retain all such amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered received in the same good condition interim as at payment for the date of possession.
16.3 Occupancy of the Property occupational rights exercised and/or enjoyed by the Purchaser or persons on in the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common lawinterim.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 3 contracts
Samples: Sale of Property Agreement, Sale of Property Agreement, Sale of Property Agreement
Breach. 16.1 13.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 13.1.1 to cancel this Agreement and upon cancellation: -
a) 13.1.1.1 if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEERAGENT’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) 13.1.1.2 if the defaulting party is the Seller SELLER the Purchaser PURCHASER shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent SELLER and to claim any other damages from the Seller SELLER that it may have suffered as a result of the Seller‘s SELLER’s default; or;
16.1.2 13.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 13.2 Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 13.3 Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 13.4 Notwithstanding what is contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed of Sale, the parties record and agree that the Agent AGENT shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 13.5 It is recorded further that the deduction by the Agent AGENT of commission due to it under the sale does not absolve the Purchaser PURCHASER from any and all other obligations arising from this Deed of Sale.
Appears in 3 contracts
Samples: Deed of Sale, Deed of Sale, Deed of Sale
Breach. 16.1 If one 11.1 Should the Purchaser fail to pay any amount, or fail to provide the guarantee(s) required in terms of this Agreement on due date, or should the Parties commits Purchaser commit a breach of any other of the terms and conditions of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party and remain in default for 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, may at the election of the Aggrieved Party Seller be reduced to 48 (forty eighthours after dispatch of a written notice requiring payment and/or delivery of the guarantee(s) hoursand/or requiring such breach to be remedied). If , the defaulting party fails to comply with such notice then the innocent party Seller shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have enjoy in law, to:
11.1.1 cancel the sale, in which event the Purchaser shall forfeit all monies paid to the Seller and/or the Conveyancers in terms hereof, including monies paid as deposit to such Conveyancers together with interest earned thereon; and the Seller’s Conveyancers shall be obliged to pay the deposit together with such interest to the Seller. Such cancellation shall be without prejudice to the Seller’s other legal rights and remedies and the right to claim damages:; or
16.1.1 to cancel 11.1.2 claim immediate payment of the whole of the purchase price and the fulfillment of all the terms and conditions hereof.
11.2 In the event of the cancellation of this Agreement in terms of the previous paragraph, or the breach of any condition hereof that may result in this Agreement becoming null and upon cancellation: -
a) if the defaulting party is the Purchaser void, or the Seller shall be entitled to retain all amounts paid by the Purchaserresiling from this Agreement as provided herein, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to claim any compensation from the Seller for in respect of any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, and additions made to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller and the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure ensure that the Property shall be it is vacated by any persons who occupy occupying the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons property on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 3 contracts
Samples: Sale Agreement, Sale Agreement, Sale Agreement
Breach. 16.1 If one of the Parties commits a 14.1 Subject to clause14.2 below, should any party breach of this Agreement or fails to comply with any of its obligations in terms hereof and persist in such breach for a period of seven (7) days after written notice will have been given to it by the provisions hereofother party, then the Aggrieved Party aggrieved party shall be entitled without prejudice to any rights which it may have in terms hereof or at law, to:
14.1.1 an order for specific performance and damages; or
14.1.2 cancel this agreement and claim damages.
14.2 Notwithstanding anything to the contrary contained in clause 13 above, the parties agree that no party shall be entitled to give cancel this agreement unless the Defaulting Party 7 (seven) days notice in writing breach complained of is a material breach going to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election root of the Aggrieved Party be reduced to 48 (forty eight) hours). If contract and is incapable of being remedied by the payment of monetary compensation or otherwise or if so capable of being remedied, the defaulting party fails so to comply with such remedy the breach within thirty (30) days of receipt of written notice then the innocent party calling upon it so to do. If any dispute shall forthwith be entitled, but not obliged, without prejudice arise as to any other rights or remedies which the he may have in law, including the right to claim damageswhether:
16.1.1 14.2.1 any breach is a material breach which goes to cancel this Agreement and upon cancellation: -the root of the contract; or
a) 14.2.2 the breach is incapable of being remedied by the payment of monetary compensation or otherwise; or
14.2.3 if it is capable of being remedied by the payment of monetary compensation or otherwise, whether the defaulting party is the Purchaser the Seller has failed to do so timeously, then such dispute shall be entitled determined, mutatis mutandis, in accordance with the provisions of clause 13 above.
14.3 Any amount falling due for payment by any party in terms of or pursuant to retain all amounts paid by this agreement including any amount which may be payable as damages shall bear interest thereon, at the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Sellerprime rate, and furthermore the Purchaser shall not be entitled to compensation reckoned from the Seller due date for payment (or, in the case of any improvements amount payable by way of damages, with effect from the date upon which those damages are sustained) to the actual date of payment thereof, both dates inclusive.
14.4 All costs, charges and expenses of whatsoever nature it which may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting incurred by any party is the Seller the Purchaser shall be entitled to a full refund of all money paid in enforcing its rights in terms hereof to including, without limitation, legal costs on the Seller scale as between attorney and to the Agent own client and to claim collection commission, irrespective of whether any other damages action has been instituted shall be recoverable from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofparty against which such rights are successfully enforced.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 3 contracts
Samples: Sale of Business Agreement, Sale of Business Agreement, Sale of Business Agreement
Breach. 16.1 24.1 If one either party breaches any provision of this agreement and remains in breach for 10 (TEN) days after written notice to such party requiring that party to rectify that breach, or if either party repudiates this agreement (“Defaulting Party”), the other party (“Aggrieved Party”) shall be entitled at the Aggrieved Party’s election to:
24.1.1 sue for the immediate specific performance of any or all of the Parties commits Defaulting Party’s obligations under this agreement whether or not any such obligation is then due; or
24.1.2 (either as an alternative to a breach claim for specific performance or upon the abandonment of such a claim) cancel this Agreement or fails to comply with any agreement. Written notice of the provisions hereof, then such cancellation shall be given by the Aggrieved Party to the Defaulting Party and the cancellation shall take effect on the giving of such notice.
24.2 In the event of the Developer cancelling this agreement in terms of this clause:
24.2.1 all amounts paid by or on behalf of the Purchaser in terms of this agreement, including amounts paid to third parties, shall be forfeited to the Developer, unless the Developer elects to claim damages in lieu of such forfeiture, in which latter event:
24.2.1.1 the Developer shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy hold such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election amounts pending determination of the Aggrieved Party be reduced to 48 (forty eight) hours). If amount of the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitleddamages by agreement, but not obligedorder of court, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:otherwise;
16.1.1 to cancel this Agreement and upon cancellation: -
a) 24.2.1.2 if the defaulting party is damages as determined are greater or less than the Purchaser amounts held by the Seller Developer, the difference shall be paid to the party entitled to retain all amounts paid the difference, by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore other party;
24.2.2 the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to shall procure that the Property shall be is vacated by any persons who occupy the Property it through the Purchaser’s title or by his permission. Occupation , and the Property shall be re- delivered redelivered in the same good order and condition as at the date of possession.Occupation Date; and
16.3 Occupancy of the Property by the Purchaser or persons on the authority of 24.2.3 the Purchaser shall not create be entitled to claim any compensation in respect of any improvements and additions made to the Property.
24.3 If the Purchaser for any reason fails to vacate the Property after cancellation:
24.3.1 the Purchaser shall be obliged to perform obligations under this agreement as if it had not been cancelled;
24.3.2 the occupational rental shall in these circumstances be deemed to be an amount equivalent to double the occupational rental as recorded in this agreement;
24.3.3 The Developer’s acceptance of such performance shall be without prejudice to any of its rights;
24.3.4 the Developer shall, in addition, be entitled to claim all damages flowing from such unlawful occupation, including but not limited to:
24.3.4.1 the fair and reasonable costs of restoring the property to the condition in which it was at the Occupation Date;
24.3.4.2 damages for holding over from the date on which the agreement was cancelled to the date on which the property is restored to the Developer;
24.3.4.3 payment of an amount equivalent to all levies, rates and taxes and service charges and all other amounts which the Developer has had to pay during the subsistence of the holding over; and
24.3.4.4 such further damages as the Developer may have suffered as a tenancy either consequence of the Purchaser’s holding over, including a loss of profits arising out of any subsequent sale which the seller may prove would have been concluded but for the holding over.
24.4 The Developer’s remedies in terms of this clause are without prejudice to any statutory provision or at common other remedies to which the Developer may be entitled in law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 3 contracts
Samples: Agreement of Sale, Agreement of Sale, Agreement of Sale
Breach. 16.1 If one 19.1 Should the Purchaser fail to fulfil any of the Parties commits a breach of Purchaser's obligations under this Agreement or fails and fail to comply with any its obligations within 14 (fourteen) days after being informed of his failure and called upon to fulfil the provisions hereofobligation in question within such period of 14 (fourteen) days, then the Aggrieved Party Seller shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he Seller may have in law: -
19.1.1 to claim immediate payment of all amounts owing under this Agreement, which amounts shall all be deemed to become due and payable forthwith, or
19.1.2 to cancel this Agreement, obtain immediate repossession of the Property and to eject the Purchaser therefrom and to recover from the Purchaser the actual damages sustained by the Seller by reason of the Purchaser's default
19.2 In any such event provided for in terms of clause 19.1 any amounts paid by the Purchaser shall accrue to the Seller as damages without prejudice to the right of the Seller to claim further damages or to such other remedies it may have in law.
19.3 If the Seller elects to institute action for the balance of the Purchase Price or any other monies which may be owing, including the taking of a judgment against the Purchaser, it shall not thereby be prevented from cancelling this Agreement if the judgment is not satisfied within 30 (thirty) days of it being granted.
19.4 If the Agreement is cancelled, the Purchaser and all persons claiming a right to claim damages:occupation through the Purchaser shall forthwith be obliged to vacate the Property and to deliver the Property to the Seller.
16.1.1 19.5 If, however, the Purchaser disputes the Seller's right to cancel this Agreement and upon cancellation: -
a) if Agreement, then pending the defaulting party is determination of such dispute, the Purchaser shall be obliged to continue to pay all amounts payable by it in terms of this Agreement on the due dates thereof and the Seller shall be entitled to retain all amounts paid accept such payments without prejudice to its rights of cancellation as aforesaid.
19.6 Any payments due by the PurchaserPurchaser to the Seller in terms hereof, excluding AUCTIONEER’s commissionnot made on due date, as rouwkoop shall bear interest at the Prime Rate.
19.7 In the event of the Seller committing any breach of this Agreement, the Purchaser or as a genuine pre-estimate his agent shall likewise notify the Seller of damage suffered by the Sellersuch breach and require him to remedy such breach within 14 (fourteen) days of such notice, and furthermore failing which the Purchaser shall not be entitled to compensation from mutatis mutandis have the same remedies as the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid as set out in terms hereof to the Seller clauses 19.1.1 and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof19.1.2 above.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 3 contracts
Samples: Deed of Sale, Deed of Sale, Deed of Sale
Breach. 16.1 If one of 22.1 Should any party (the Parties commits "defaulting party") commit a breach of this Agreement or fails to comply with any of the provisions hereofof this agreement, then the Aggrieved Party party which is not in breach (the "aggrieved party') shall be entitled to give the Defaulting Party 7 (seven) days defaulting party written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)breach. If the defaulting party fails to comply with such that notice then within 7 (seven) days of receipt thereof, subject to any other provisions of this agreement to the innocent contrary, the aggrieved party shall forthwith be entitledentitled to cancel this agreement or to claim specific performance, but not obliged, in either event without prejudice to any other rights or remedies which the he may have in law, including the aggrieved party's right to claim damages:. The a foregoing is without prejudice to such other rights as the aggrieved party may have in terms of this agreement, common law or statute;
16.1.1 22.2 In the event of the Seller cancelling this agreement in terms of the provisions of clause 22.1, any amount or amounts paid to cancel this Agreement the Seller or the Conveyancers (including any amount paid in trust) shall be forfeited to and upon cancellation: -
a) retained by the Seller as rouwkoop; alternatively, if the defaulting party is Seller so elects, he may recover any damages howsoever incurred as a result of such cancellation (including any losses and expenses on a resale, whether by public auction or private treaty), in which case the amount or amounts paid to the Seller or the Conveyancers as aforesaid (including any amount paid in trust) will not be forfeited as rouwkoop but may be retained by the Seller by way of set off or partial set off against the damages claimed by the Seller;
22.3 Notwithstanding the a foregoing, should the Seller exercise any of his rights in terms hereof and should the Purchaser dispute the Seller's right to do so, then pending the determination of that dispute, the Purchaser shall continue to pay all amounts payable in terms of this agreement on the due date thereof and to comply with all the terms hereof, and the Seller shall be entitled to recover and accept such payments and/or other performance without prejudice to the Seller's claim to have exercised rights in terms hereof, and in the event of the Seller succeeding in such dispute, the Seller shall be entitled to retain all such amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered received in the same good condition interim as at payment for the date of possession.
16.3 Occupancy of the Property occupational rights exercised and/or enjoyed by the Purchaser or persons on in the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common lawinterim.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 3 contracts
Samples: Sale of Property Agreement, Sale of Property Agreement, Sale of Property Agreement
Breach. 16.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party 9.1 The Lessor shall be entitled to cancel this agreement, or demand specific performance of the Lessee’s obligations, together with any damages suffered by the Lessor, as a result of the Lessee failing to meet his/her obligations under this agreement, provided that the Lessor give the Defaulting Party 7 Lessee twenty (seven20) days notice written notice.
9.2 The Lessee hereby pledges to the Lessor, as security for its obligations in writing to remedy such breach or failure (unless such breach or failure occurs after terms of this agreement, all Goods stored by the transfer documents have been lodged Lessee in the Deeds Office for registrationStorage Unit. In this regard, the Lessee agrees that the act of storing Goods in the Storage Unit will constitute delivery of the said Goods to the Lessor, thereby constituting the pledge.
9.3 Should the Lessee fail to remove his/her Goods from the Storage Unit, in which case accordance with clause 5 above, in the 7 (seven) day period may, at the election event of the Aggrieved Party be reduced to 48 (forty eight) hours). If cancellation of this agreement, the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall Lessor will be entitled to retain remove the Lessee’s lock, retake possession of the Storage Unit and sell or otherwise dispose of the Lessee’s Goods.
9.4 The Lessor shall have tacit hypothec and lien on all Goods stored in the Storage Unit to secure payment of all amounts paid by due to the PurchaserLessor under this agreement. In terms thereof, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser Lessee shall not be entitled to compensation remove any Goods from the Seller for Storage Unit until all its debts are paid in full to the Lessor.
9.5 The Lessee hereby warrants that he/she/legal entity is the lawful owner of all goods stored in the unit and that such goods are free from any improvements claim which may arise from a third party. *
9.6 In the event of whatsoever nature it may have caused non-payment of any monthly rental/s and/or any other amounts due by the Lessee to the Lessor, the Lessee hereby irrevocably agrees and authorizes the Lessor to sell all goods stored in the unit by public auction to the higher bidder on the Property, whether with or without the Seller‘s consent. The parties specifically agree condition that the AUCTIONEER shall be entitledLessor has fulfilled the following procedures: *
9.6.1 The Lessor has given the Lessee 20 days written notice of his/her/its breach of the agreement and the amount owing to the Lessor in terms of the agreement and to demand rectification of such breach within 20 days, but not obligedfailing which the Lessor cancels the agreement without any further notice to the Lessee.
9.6.2 In the event that the Lessee has failed to rectify his breach of the agreement within the 20 day period, as mentioned herein above, the Lessor will then give the Lessee a further 20 days written notice of its intention to immediately resubmit sell the Property for auction; andgoods on public auction in order to recover all amounts owing by the Lessee to the Lessor in terms of the agreement.
b) if 9.6.3 After the defaulting party is lapse of the Seller above periods, and the Purchaser shall Lessee has still failed and/or neglected to rectify his/her/its breach of the agreement, the Lessor will be entitled to and is hereby authorized by the Lessee to immediately proceed with a full refund sale by public auction of all money paid the goods stored in terms hereof the unit. The nett proceeds of such auction will be utilized to recover the outstanding amounts owing to the Seller and Lessor by the Lessee. Should the nett proceeds recovered be in excess of the outstanding amount owing, the balance of the funds will be paid to the Agent and to claim any other damages from Lessee by the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at Lessor within 10 days after the date of possession.the public auction. *
16.3 Occupancy 9.6.4 The Lessee hereby irrevocably authorized the Lessor to hold the above mentioned public auction at the premises of the Property by Lessor and will be authorized to appoint a registered auctioneer to attend to the Purchaser or persons on public auction. *
9.7 The Lessee can at any stage before the authority public auction, reclaim all goods in the unit and stop the public auction of the Purchaser shall not create a tenancy either goods, by paying the full outstanding amount owing to the Lessor in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount agreement as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct well as all legal and/or auctioneering costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent Lessor in terms of commission due to it under the sale does not absolve agreement. The Lessee must immediately remove all goods stored in the Purchaser from any and all other obligations arising from this Deed unit on payment of Salethe amounts mentioned herein above.
Appears in 2 contracts
Samples: Storage Unit Agreement, Storage Unit Agreement
Breach. 16.1 24.1 If one of the Parties commits a breach party breaches any provision of this Agreement or fails agreement and remains in breach for 14 days after written notice to comply with that party requiring that party to rectify that breach, the aggrieved party shall be entitled, at its option:
24.1.1 to xxx for immediate specific performance of any of the provisions hereofdefaulting party's obligations under this agreement, whether or not such obligation is then due and to require the Aggrieved Party defaulting party to provide security to the satisfaction of the aggrieved party for the defaulting party's obligations; or
24.1.2 to cancel this agreement, in which case written notice of the cancellation shall be given to the defaulting party, and the cancellation shall take effect on the giving of the notice. Neither party shall be entitled to give cancel this agreement unless the Defaulting Party 7 (seven) days breach is a breach of a term which goes to the root of this agreement, and the remedy of specific performance or damages would not adequately prevent the aggrieved party from being materially prejudiced.
24.2 If the breach is a breach of warranty as at a particular date, notice in writing to remedy such breach shall be given and the breach shall be deemed to have been remedied if:
24.2.1 the defaulting party is able, within the period of the notice, to prevent the aggrieved party from being prejudiced or to make good any prejudice suffered, and does so; or
24.2.2 the defaulting party is able, but not within the period of the notice, to prevent the aggrieved party from being prejudiced or to make good any prejudice suffered within the period of the notice, and undertakes to do so and furnishes such security in support of the undertaking as the aggrieved party may require.
24.3 If the defaulting party is the purchaser or FSAH, and the breach is the non-payment of any instalment of the purchase price or a failure (unless to comply with clause 7.3, and if the purchaser fails to remedy such breach or failure occurs after having been given notice to do so in accordance with this clause, the transfer documents seller shall be entitled to cancel this agreement and if the seller does so the seller shall be entitled to have been lodged the intellectual property which is the subject of the intellectual property agreement assigned to the seller for no consideration. The seller shall, in the Deeds Office event of cancellation, deliver to FSAH, for registrationno consideration, the FSAH "B" shares forming part of the purchase price together with blank signed transfer forms and shall be entitled to a penalty as follows:-
24.3.1 FSAH shall forfeit to the seller all of the issued shares of the purchaser and shall deliver to the seller the share certificates in which case respect of such shares, together with blank signed transfer forms and letters of resignation of the 7 (seven) day period maydirectors of the purchaser; and
24.3.2 the seller shall retain all cash paid by the purchaser on account of the purchase price. Alternatively, and at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If seller, the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, seller may claim damages.
24.4 The aggrieved party's remedies in terms of this clause are without prejudice to any other rights or remedies to which the he aggrieved party may have be entitled in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Sale of Business Agreement (First South Africa Corp LTD), Sale of Business Agreement (First South Africa Corp LTD)
Breach. 16.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days days’ notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice notice, then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEERagent’s commission, as rouwkoop or as a genuine pre-pre- estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER agent shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Deed of Sale, Deed of Sale
Breach. 16.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party aggrieved party shall be entitled to give the Defaulting Party defaulting party 7 (seven) days days’ notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party aggrieved party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine - pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Propertyproperty, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER Auctioneer shall be entitled, but not obliged, to immediately resubmit the Property property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property property and to procure that the Property property shall be vacated by any persons who occupy the Property property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Deed of Sale, Deed of Sale
Breach. 16.1 If one Notwithstanding any conflicting conditions contained herein, should either of the Parties commits a parties (the defaulting party) fail to pay any amounts due in terms of this Deed of Sale, on due date or commit any other breach of this Agreement or fails to comply with any of the provisions hereofconditions hereof and fail to pay such amounts or remedy such other breach within 7 (SEVEN) days after receipt of a notice requesting the defaulting party to do so, then the Aggrieved Party aggrieved party shall be entitled have the right:-
11.1 In the event of the aggrieved party being the PURCHASER :
11.1.1 to give the Defaulting Party 7 (seven) days cancel this agreement by giving notice in writing to remedy such breach or failure (unless such breach or failure occurs after the SELLER to this effect in which event the PURCHASER shall have the right to recover from the SELLER all damages suffered as a result of the SELLER"S default;
11.1.2 to treat the sale as binding and to demand immediate transfer documents of the property in his name and tender all amounts due and payable by him in terms of this Agreement;
11.2 In the event of the aggrieved party being the SELLER, to cancel this agreement by giving notice in writing to the PURCHASER to this effect in which event the SELLER shall have been lodged in the Deeds Office for registrationelection, to either retain all monies paid by the PURCHASER as well as
11.2.1 all improvements effected to the PROPERTY by him as agreed pre- estimated liquidated damages, in which case event the 7 (seven) day period mayPURCHASER agrees the amount so forfeited shall be regarded as fair, at the election reasonable and just assessment of the Aggrieved Party be reduced pre-estimated liquidated damages sustained by the SELLER; or
11.2.2 to 48 (forty eight) hours). If recover all damages suffered by the defaulting party fails to comply with SELLER arising from the PURCHASER'S breach of this Deed of Sale and until such notice then time as such damages have been determined, the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller SELLER shall be entitled to retain all amounts monies paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate PURCHASER on account of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.damages;
Appears in 2 contracts
Samples: Deed of Sale, Deed of Sale
Breach. 16.1 If one 8.1 Should the Purchaser/s fail to fulfil any of the Parties commits a breach of Purchaser/s’ obligations under this Agreement or fails agreement and fail to comply with any these obligations within 5 (five) working days after a letter has been handed to the Purchaser/s, has been sent by way of facsimile or has been sent by registered post to the provisions hereofPurchaser/s at the Purchaser/s’ chosen address informing the Purchaser of his/her failure and calling upon him/her to fulfil the obligation in question within a period of 5 (five) working days, then the Aggrieved Party Seller shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he Seller may have in law, including the right :
8.1.1 to claim immediate payment of all amounts owing under this agreement, which amounts shall be deemed to become due and payable forthwith; or
8.1.2 to terminate this agreement, obtain immediate repossession of the Property and to eject the Purchaser/s there from; and
8.1.3 to retain as "rouwkoop" and/or as liquidated damages:, all amounts paid by the Purchaser/s under this agreement; or
16.1.1 8.1.4 to cancel this Agreement recover an amount equivalent to 10% (ten per cent) of the Purchase Price, together with an amount equal to any agent's commission which may be payable to or have been paid by the Seller, and upon cancellation: -Conveyancer’s wasted costs; or
a) if 8.1.5 to recover from the defaulting party is Purchaser/s the Purchaser actual damages sustained by the Seller shall be entitled by reason of the Purchaser/s’ default, and to retain all amounts paid by the Purchaser/s pending the determination of such damages.
8.2 If the Seller elects to institute action for the balance of the Purchase Price or any other monies which may be owing, excluding AUCTIONEER’s commissionincluding the taking of a judgment against the Purchaser/s, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser it shall not thereby be entitled to compensation debarred from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) cancelling this agreement if the defaulting party judgment is the Seller the Purchaser shall be entitled to a full refund not satisfied within 30 (thirty) days of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofbeing granted.
16.2 Upon cancellation of this Agreement 8.3 If the agreement is cancelled as provided for whatever reasonabove, the Purchaser hereby undertakes Purchaser/s and all persons claiming a right to occupation through the Purchaser/s, shall forthwith be obliged to vacate the Property and to procure that deliver it to the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered Seller in the same good order and condition as at in which he received it. In this regard, it is hereby specifically recorded, that no lease or other right of occupation in favour of the date Purchaser/s shall be created or come into existence by virtue of possessionthis agreement.
16.3 Occupancy 8.4 If however, the Purchaser/s dispute the Seller's right to terminate this agreement, then pending the determination of such dispute, the Property Purchaser/s shall be obliged to continue to pay all amounts payable by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either him/her in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should this agreement on the Purchaser pay any amount as required under this Deed of Sale, due dates and the parties record and agree that the Agent Seller shall be entitled to first deduct from accept such payments without prejudice to its rights of cancellation as aforesaid. If such dispute is decided in favour of the Seller, then such amounts so received by the Seller after cancellation as aforesaid shall be deemed to have been paid to the Seller prior to cancellation.
8.5 It is specifically recorded that should any such money paid under this Deed of Salebreach by the Purchaser/s occur at a time critical to the registration procedure, the value of its commission and any direct costs incurred and recover any shortfall thereon from Seller shall be entitled to require the Purchaser/s to remedy such breach within a period of 24 (twenty four) hours and not within the 7 (seven) day period as provided for above.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Agreement of Sale, Agreement of Sale
Breach. 16.1 If one Without prejudice to any other rights of the Parties commits a breach Landlord, the Landlord is entitled to cancel this lease immediately should the Tenant:
16.1.1 fail to make payment in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party lease on due date and remain in default for 7 (seven) days notice in writing after receiving written notices from the Landlord to make payment;
16.1.2 commits any other breach of this lease and fails to remedy such the breach within 14 (fourteen) days after receiving written notice from the Landlord to do so;
16.2 Should the Tenant fail to make payment to any third party as required by this lease or failure (unless such breach or failure occurs after the transfer documents have been lodged fail to perform any other obligation due in the Deeds Office terms of this lease and remain in default for registration, in which case the 7 (seven) day period maydays after receiving written notice from the Landlord to remedy the default, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, Landlord may without prejudice to its rights, make the payment or carry out the obligation and recover the amount paid or the cost of carrying out the obligation (as the case may be) from the Tenant on demand;
16.3 Should the Landlord institute any other rights action against the Tenant for relief arising out of the Tenant committing a breach or remedies which default of any of his / her obligations under this lease, the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller Landlord shall be entitled to retain claim any legal costs incurred on the scale as between Attorney and Own Client.
16.4 Should the Landlord cancel this lease and the Tenant disputes the Landlord’s right to do so, remain in occupation of the property, then, pending the determination of the dispute:
16.4.1 the Tenant shall continue to make all payments in terms of this lease on due date;
16.4.2 the Landlord’s acceptance of those payments will not in any manner affect its right to cancel this lease or any other remedy it may have;
16.4.3 Should the dispute between the Landlord and the Tenant be determined in favour of the Landlord, the payments made in terms of 17.4.2 will be regarded as amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate Tenant on account of damage suffered the loss sustained by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered Landlord as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy holding over of the Property property, by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.Tenant;
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall 16.4.4 The Landlord will be entitled to first deduct from cancel this lease by written notice to the Tenant if the Tenant commits any such money paid under breach of this Deed of Sale, the value of its commission lease and any direct costs incurred and recover any shortfall thereon fails to remedy same within 14 (fourteen) days after receiving written notice from the PurchaserLandlord to do so.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Breach. 16.1 If one the employer defaults in the payment of any sum whatsoever payable by him in terms hereof or breaches any of his other obligations (all of which are agreed to be material) hereunder or in terms of the Parties commits a breach of this Agreement Act or the rules and fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such default or breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election within seven days of the Aggrieved Party be reduced to 48 (forty eight) hours). If receipt of written notice requiring the defaulting party fails to comply with remedy of such notice then default or breach, the innocent party contractor shall forthwith be entitled, but not obliged, without prejudice to any other rights available to it in terms of this agreement or remedies in law have the right:
16.1 to stop all works on the premises and postpone the occupation date;
16.2 to claim all interim interest paid by the contractor back from the employer;
16.3 to claim and recover from the employer forthwith the whole of the balance of the contract price then outstanding together with interest thereon reckoned as herein before provided up to the date of payment of such balance as well as all other sums for which the he employer may have then be liable in lawterms of this agreement; provided that if the employer fails to make payment as provided for in terms of this sub-clause, including the right rights of the contractor under this agreement shall not be exhausted and the contractor shall notwithstanding the election to claim damages:immediate payment be entitled to exercise any of the rights available to it in terms hereof or at law; or
16.1.1 16.4 to cancel this Agreement agreement, repossess the section and upon claim from the employer such damages as it may have sustained by reason of the cancellation: -; or
a) if 16.5 to cancel this agreement, repossess the defaulting party is the Purchaser the Seller shall be entitled to section and retain all amounts which the employer has paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or in terms hereof as a genuine pre-estimate of damage suffered the damages which the contractor has sustained by reason of such cancellation in which event the employer shall be deemed to have authorized the agent to pay to the contractor any amount paid by him in terms hereof and invested by the Seller, agent on his behalf.
16.6 To claim for all legal costs incurred on a party and furthermore own client scale. Notwithstanding any other rights which the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it contractor may have caused on cancellation of this agreement due to the Propertyemployer's breach, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser contractor shall be entitled to a full refund cancellation fee of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofR10 000.00 (ten thousand rand).
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Building Contract, Building Contract
Breach. 16.1 14.1 If one of the Parties any party commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing of this Agreement and fails to remedy such breach within 14 (Fourteen) days, or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationinstance of a breach of the obligation as referred to in Clause 8.2 of this Agreement or any financial obligation, in which case the within 7 (sevenSeven) day period maydays after receipt of written notice from the other party calling upon it to remedy such breach, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damagesterms of this Agreement and or at Law to:
16.1.1 to 14.1.1 cancel this Agreement and upon cancellation: -claim such damages as it may have sustained from the defaulting party;
a) if 14.1.2 claim immediate performance by the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's its obligations in terms hereofof this Agreement whether or not the due date for performance shall otherwise have arrived.
16.2 14.2 The Contractor may retain any cash payments made by the Employer prior to cancellation as liquidated damages, without prejudice to any other right that the Contractor may have.
14.3 Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser Employer, if he took occupation of the Property and/or the Works, hereby undertakes to forthwith vacate the Property and/or the Works forthwith, and to procure that the Property and/or the Works shall be vacated by any persons who occupy the Property it through the Purchaser’s Employer's title or by his permission. Occupation shall be re- delivered redelivered to the Contractor in the same good order and condition as at the date Completion Date. The defaulting party shall pay all legal and other costs, including costs on the attorney and client scale, incurred by the innocent party in successfully enforcing the provisions of possessionthis Agreement.
16.3 Occupancy 14.4 In the event of the Property Contractor being obliged and/or electing to cancel the Agreement in accordance with this Clause 14, then the Employer shall, in addition to the right of the Contractor as referred to in Clause 14.1 above, be liable to pay to the Contractor an amount calculated as follows: (Total Contract Price) less (Amounts Paid and/or Payable in respect of Works already completed) times 35% (Thirty-Five) as genuinely pre-estimated damages for the breach of the terms and conditions of this Agreement by the Purchaser Employer.
14.5 The Employer acknowledges that, by reason of his signature hereto, the Contractor will incur certain necessary costs or persons on charges relating amongst other to the authority processing of the Purchaser shall not create a tenancy either in terms Agreement, the preparation of Plan and drawing relative to any statutory provision or at common lawloan/Mortgage Bond application and services rendered.
16.4 Notwithstanding what is 14.6 In the event therefore, of the Employer electing to cancel this Agreement for whatever reason, and notwithstanding the fulfilment of the conditions precedent (if any) relating to loan/Mortgage Bond finance contained herein, should in the Purchaser pay any amount as required under this Deed Agreement of Sale, the parties record and agree that Employer assumes liability, without recourse, for payment to the Agent Contractor of cancellation costs, calculated as follows:
14.6.1 The amount of R10 000-00 (Ten Thousand Rand) if cancellation is effective prior to the granting of loan finance (if any);
14.6.2 The sum of R30 000-00 (Thirty Thousand Rand) if cancellation is effective after granting of required loan/Mortgage Bond (if any) but prior to commencement of the Works; or
14.6.3 Should the Employer cancel this Agreement after commencement of the Works, the Employer shall be entitled liable for the payment to first deduct from any such money paid under this Deed the Contractor of Sale, the value of its commission and any direct all costs incurred and recover any shortfall thereon from to the Purchasertime of cancellation.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Building Agreement, Building Agreement
Breach. 16.1 12.1 If one of any party (“the Parties defaulting party”) commits a breach of this Agreement or fails to comply agreement and persists with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party such breach for more than 7 (sevenSEVEN) days notice after being called upon in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationrectify same, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 12.1.1 to cancel this Agreement agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultdamages; or
16.1.2 12.1.2 to claim immediate performance and/or payment of all the defaulting party's ’s outstanding obligations in terms hereofhereof and claim damages.
16.2 12.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereincancellation, should the Purchaser pay any amount as required under this Deed of Saledefaulting party have been the Purchaser, the parties record and agree that the Agent Seller shall be entitled to first deduct from any such money paid under this Deed of Saleretain the deposit as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
12.3 Upon cancellation, should the defaulting party have been the Seller, the value Seller shall pay to the Purchaser an amount equal to the deposit paid by the Purchaser and the Purchaser shall be entitled to retain this amount as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
12.4 If the Seller becomes entitled and elects to cancel this Agreement after the Purchaser has taken occupation of its commission the Property, then the Purchaser shall notwithstanding that this Agreement may well be validly cancelled continue to pay the occupational rental, the municipal charges and the levy and any direct costs incurred other amounts as if the agreement had not been cancelled. The Seller shall be entitled to claim and recover any shortfall thereon from accept payment of such amounts without prejudice to the PurchaserSeller’s claim for cancellation of this Agreement.
16.5 It is recorded further that 12.5 If any party (“the deduction by innocent party”) becomes entitled to enforce a remedy in terms of this Agreement, it will, notwithstanding having chosen a particular remedy, continue to enjoy the Agent of commission due right to enforce any other remedy open to it under as a result of the sale does same instance of breach.
12.6 Notwithstanding the above provisions neither party shall be entitled to cancel the agreement after 7 days’ notice if the breach complained of is not absolve reasonably capable of being remedied in the Purchaser from any and all other obligations arising from this Deed 7 day period. In such an event the notice placing the defaulting party on terms to perform shall only entitle the cancellation of Salethe agreement if the period given to perform is reasonable in the circumstances.
Appears in 2 contracts
Samples: Deed of Sale, Deed of Sale
Breach. 16.1 If one 18.1 Should the LESSEE fail to pay the rental and other charges in full on the due date and fail to remedy such breach within a period of fourteen (14) days after written notice to that effect has been made or given by the Parties commits a breach of this Agreement LESSOR to the LESSEE or fails to comply with any of such extended period as may be reasonably required, the provisions hereof, then the Aggrieved Party LESSOR shall be entitled to give terminate this Lease on written notice to the Defaulting Party 7 (seven) days Lessee; PROVIDED THAT the LESSOR shall be entitled to terminate this Lease forthwith on written notice in writing the event of the LESSEE committing a breach on more than two (2) occasions in any one (1) calendar year.
18.2 Should the LESSEE commit any act of insolvency the LESSOR shall without prejudice to its right to damages or its right to evict the LESSEE from the PREMISES or to any other right whatsoever that the LESSOR may have against the LESSEE as a result thereof, be entitled to terminate this Lease and immediately recover from the LESSEE the total cost incurred by the LESSOR.
18.3 Should the LESSEE commit any other breach of this Lease, the LESSOR shall be entitled to forthwith terminate this Lease if the LESSEE fails to remedy such breach within thirty (30) days after written notice to that effect has been made or failure given by the LESSOR to the LESSEE, or such further period as may be agreed upon. Should any two (unless such breach or failure occurs after 2) breaches occur in one (1) calendar year the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election Lease may be terminated.
18.4 The terms of the Aggrieved Party this Clause shall be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any and shall not limit other rights or remedies which the he LESSOR may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or law as a genuine pre-estimate result of damage suffered by the Sellerrelevant breach, and furthermore save that the Purchaser LESSOR shall not be entitled to compensation from terminate this Lease otherwise than in accordance with the Seller for terms of Clauses 18.1, 18.2 and 18.3 hereof.
18.5 While the LESSEE remains in occupation of the PREMISES and irrespective of any improvements of whatsoever nature it may have caused on dispute between the Propertyparties, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitledincluding, but not obliged, being restricted to immediately resubmit a dispute as to the Property for auction; andLESSOR’S right to terminate this Lease the-
b) if 18.5.1 LESSEE shall continue to pay all amounts due to the defaulting party is LESSOR in terms of this Lease on the Seller the Purchaser due dates;
18.5.2 LESSOR shall be entitled to a full refund recover and accept such payments;
18.5.3 acceptance by the LESSOR of all money paid such payment shall be without prejudice to and shall not in any manner whatsoever affect the LESSOR’S right to termination of this Lease or to any damages whatsoever - should the dispute between the LESSOR and the LESSEE be determined in favour of the LESSOR, the payments made to the LESSOR in terms hereof to of this Clause shall be regarded as amounts paid by the Seller and to LESSEE in respect of any loss and/or damages sustained by the Agent and to claim any other damages from the Seller that it may have suffered LESSOR as a result of the Seller‘s default; orbreach and -
16.1.2 18.5.4 Should the LESSEE fail to claim immediate performance and/or make any payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either due in terms of this Lease before or on the due date, the LESSEE shall be liable for the payment of interest on the outstanding amount, compounded monthly and calculated from the due date at a rate of two per centum (2 %) above the prime lending rate as determined from time to time by the Standard Bank of South Africa Limited (“Standard Bank”) in respect of overdrawn current accounts. The aforementioned rate changes on the same date as such prime lending rate changes. A certificate containing details of the applicable prime lending rate(s) for any statutory provision or at common lawappropriate period signed by a person professing to be a manager of any Branch of Standard Bank, and submitted by the LESSOR during any legal proceedings, is accepted as prima facie proof as to the correctness of the contents thereof by the LESSEE and it agrees to the submission and admissibility of such certificate during any legal proceedings arising from this Lease.
16.4 Notwithstanding what is contained herein, should 18.6 In the Purchaser event of the LESSEE failing to pay any amount due to the LESSOR, or committing any other breach of the terms and conditions embodied in this Lease, and the LESSOR being obliged as required under this Deed of Salea result thereof to instruct or call upon the LESSEE to rectify such breach, or to proceed against the LESSEE for any reason, in any event, the parties record LESSEE does hereby accept liability for and agree that undertakes to pay on demand to the Agent LESSOR all legal costs of the LESSOR calculated on an attorney and client basis, as shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaserlawfully charged.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Breach. 16.1 13.1. If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 13.1.1. to cancel this Agreement and upon cancellation: -
a) 13.1.1.1.1. if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property PROPERTY for auction; and
b) 13.1.1.1.2. if the defaulting party is the Seller SELLER the Purchaser PURCHASER shall be entitled to a full refund of all money paid in terms hereof to the Seller SELLER and to the Agent AUCTIONEER and to claim any other damages from the Seller SELLER that it may have suffered as a result of the Seller‘s SELLER’s default; or;
16.1.2 13.1.1.1.3. to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 13.2. Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 13.3. Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 13.4. Notwithstanding what is contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed these Rules of SaleAuction, the parties record and agree that the Agent AUCTIONEER shall be entitled to first deduct from any such money paid under this Deed these Rules of SaleAuction, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 13.5. It is recorded further that the deduction by the Agent AUCTIONEER of commission due to it under the sale does not absolve the Purchaser PURCHASER from any and all other obligations arising from this Deed these Rules of SaleAuction.
Appears in 2 contracts
Samples: Auction Rules and Conditions of Sale, Auction Agreement
Breach. 16.1 If one of Should the Parties commits Purchaser commit a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled terms and conditions of this agreement and fail to give the Defaulting Party 7 rectify such breach within 10 (seventen) days reckoned from the date of receipt of a notice in writing handed or sent to remedy such breach the Purchaser by or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election on behalf of the Aggrieved Party be reduced to 48 (forty eight) hours). If Seller then, notwithstanding any previous indulgence on the defaulting party fails to comply with such notice then part of the innocent party shall forthwith be entitled, but not obliged, Seller and without prejudice to any other or further rights of the Seller in terms hereof or remedies which otherwise, the he may have in lawSeller shall be entitled, including the right to claim damageswithout further notice:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is agreement in which event the Purchaser shall, subject to the provisions of Clause 3.2.2 above, forfeit the right to claim restitution of anything performed by the Purchaser in terms hereof, and, in particular, shall forfeit any rights which the Purchaser may have in respect of the deposit and the interest accrued thereon which deposit and accrued interest, less an administration fee of 0.5% of the total interest earned in respect of management and/or administration fees payable to the Conveyancers, shall, in this event, be paid by the Conveyancers to the Seller by way of a penalty or as liquidated damages or as a payment to the Seller in respect of the prejudice hereby agreed upon as will be suffered by the Seller as a result of the Purchaser's failure to comply with the Purchaser’s obligations hereunder;
16.1.2 to enforce performance by the Purchaser of the terms hereof and to claim payment from the Purchaser of the Balance of the Purchase Price and all other monies then owing by the Purchaser hereunder, which Balance and other monies shall then be claimable from and payable by the Purchaser immediately.
16.2 Should the Seller commit a breach of any of the terms and conditions of this agreement and fail to rectify such breach within 10 (ten) days reckoned from the date of receipt of a notice handed or sent to the Seller by or on behalf of the Purchaser then, notwithstanding any previous indulgence on the part of the Purchaser and without prejudice to any other or further rights of the Purchaser in terms hereof or otherwise, the Purchaser shall be entitled, without further notice:
16.2.1 to cancel this agreement and to recover from the Seller such damages as it may have suffered;
16.2.2 to enforce performance by the Seller of the terms hereof.
16.3 Should the Purchaser dispute the right of the Seller to cancel this agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by him in terms of this agreement on the due dates thereof and the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by recover and accept those payments without prejudice to the Seller, and furthermore the Purchaser shall not be entitled to compensation from ’s claim for cancellation of this agreement or any other rights of the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofwhatsoever.
16.2 16.4 Upon cancellation of this Agreement agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property unit and to procure that re-instate the Property shall be vacated by any persons who occupy unit to its original state of repair.
16.5 In the Property through event of the Seller instructing attorneys to enforce its rights or to compel the Purchaser’s title or by compliance with his permission. Occupation obligations in terms hereof the Purchaser shall be re- delivered liable for the legal costs incurred on a scale as between attorneys and own client together with VAT thereon.
16.6 Any amounts in arrears in terms of this agreement shall bear interest at the prime overdraft rate, from time to time, charged by Nedbank Limited, which interest shall be calculated monthly in advance from the date that such amount became due.
16.7 In the event of there being any delay in the same good condition as at the date of possession.
16.3 Occupancy of the Property by Transfer Date for which the Purchaser is responsible or persons on in the authority event of the Purchaser shall not create a tenancy either furnishing the guarantees and/or making payment of the Balance of the Purchase Price referred to in Clause 3.2 above timeously, then in such event, the Purchaser agrees, in addition to any other payment due in terms of any statutory provision or this agreement, to pay interest on the full Purchase Price at common law.
16.4 Notwithstanding what is contained hereinthe prime overdraft rate charged by Nedbank Limited from time to time, should calculated from the date the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction notified in writing by the Agent Conveyancers of commission due the breach in terms of Clause 16.1 above to it under the sale does not absolve date upon which the Purchaser from any and all other obligations arising from this Deed of Salehas rectified his breach, both days inclusive.
Appears in 2 contracts
Samples: Offer to Purchase, Offer to Purchase
Breach. 16.1 If one of 25.1 Subject to the Parties commits a breach Retired Persons’ Act, should the Purchaser fail on the due date to pay the Occupational Interest or any other amount due by it in terms of this Agreement Contract, or fails fail to comply with any of its other obligations in terms of this Contract before or on the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice date stipulated therefore or breach this Contract in writing any other way and fail to remedy such breach or failure to comply with his obligations within 7 (unless SEVEN) days after having received a written notice from the Seller to remedy such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then obligation(s), the innocent party Seller shall forthwith be entitled, but not obligedhave the right at any time, without prejudice to any other powers or rights or remedies which the he it may have in law, including the right to claim damagesby law or by virtue of this Contract:
16.1.1 25.1.1 to sue for or obtain payment of the full amount of the Purchase Price and any other amounts outstanding as at the date of such breach, notwithstanding anything to the contrary herein contained and where the Purchaser has failed to pay Occupational Interest that has fallen due, to eject the Purchaser from the Section and the Exclusive Use Area(s) and to regain vacant occupation thereof; or
25.1.2 to cancel this Agreement Contract by giving the Purchaser written notice of such cancellation, and upon cancellation: -in that event:
a) 25.1.2.1 the Purchaser shall be obliged, if the defaulting party is Purchaser has already obtained possession of the Section and, where applicable, the Exclusive Use Area(s), to vacate the Section or the Exclusive Use Area(s) immediately and place the Seller in possession thereof; and
25.1.2.2 the Purchaser shall forfeit to the Seller the Deposit and any other amount or amounts which have already been paid by him to the Conveyancers or to the Seller as pre-determined liquidated damages; or
25.1.3 to claim damages from the Purchaser in which event the Seller shall be entitled to retain all the Deposit and any amount or amounts already paid to it or to the Conveyancers, and to set them off against the Seller’s damages in due course.
25.2 Where the Purchaser has forfeited the Deposit and other amounts in favour of the Seller or the Seller has become entitled to retain the Deposit and other amounts paid by to the PurchaserConveyancers, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not Conveyancers will be entitled obliged to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof pay such amounts to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofon demand.
16.2 25.3 Upon cancellation of this Agreement Contract for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property Section and, where applicable, the Exclusive Use Area(s) forthwith, and to procure that the Property Section shall be vacated by any persons who occupy the Property it through the Purchaser’s title or by his its permission. Occupation Possession and occupation shall be re- delivered redelivered to the Seller in the same good order and condition as at the date of possessionOccupation Date.
16.3 Occupancy of the Property by 25.4 Should the Purchaser or persons on dispute the authority Seller’s right to cancel this Contract, then pending the determination of that dispute, the Purchaser shall not create a tenancy either be obliged to continue payment of all amounts payable by him in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should this Contract on the Purchaser pay any amount as required under this Deed of Sale, due dates thereof and the parties record and agree that the Agent Seller shall be entitled to first deduct from recover and accept those payments without prejudice to the Seller’s claim for cancellation of this Contract or any such money paid under other rights of the Seller whatsoever. Failure to pay any of the aforesaid amounts will constitute a material breach of this Deed Contract.
25.5 The Purchaser shall pay all legal and other costs, including costs on the attorney and own client scale, incurred by the Seller in successfully enforcing the provisions of Salethis Contract or in acting against the Purchaser in terms of this clause 25. Similarly, the value of its commission Seller will pay all legal and any direct other costs incurred and recover any shortfall thereon from by the PurchaserPurchaser in successfully enforcing the provisions of this Contract.
16.5 25.6 It is specifically recorded further that the deduction should any breach by the Agent of commission due Purchaser occur at a time critical to it under the sale does not absolve registration procedure, the Seller shall be entitled to require the Purchaser from any to remedy such breach within a period of 24 (TWENTY-FOUR) hours, and all other obligations arising from this Deed of Salenot within the seven days period provided for in Sub-Clause 25.1 above.
Appears in 2 contracts
Samples: Deed of Sale, Deed of Sale
Breach. 16.1 If one of 9.1 Should any party (the Parties commits “defaulting party”) commit a breach of this Agreement or fails to comply with any of the provisions hereofof this CONTRACT, then the Aggrieved Party party which is not in breach (the “aggrieved party”) shall be entitled to give the Defaulting Party 7 (seven) days defaulting party written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)breach. If the defaulting party fails to comply with such that notice then within 10 (TEN) days of receipt thereof, subject to any other provisions of this CONTRACT to the innocent contrary, the aggrieved party shall forthwith be entitledentitled to cancel this CONTRACT or to claim specific performance, but not obliged, in either event without prejudice to any other rights or remedies which the he may have in law, including the aggrieved party’s right to claim damages:. The aforegoing is without prejudice to such other rights as the aggrieved party may have in terms of this CONTRACT, common law or statute.
16.1.1 9.2 In the event of the SELLER cancelling this CONTRACT as aforesaid any amount or amounts paid to cancel this Agreement the SELLER or the CONVEYANCERS (including any amount paid in trust) shall be forfeited to and upon cancellation: -
a) retained by the SELLER as rouwkoop; alternatively, if the defaulting party is SELLER so elects, he may recover any damages howsoever incurred as a result of such cancellation (including any losses and expenses on a re-sale, whether by public auction or private treaty), in which case the Purchaser amount or amounts paid to the Seller SELLER or the CONVEYANCERS as aforesaid (including any amount paid in trust) will not be forfeited as rouwkoop but may be retained by the SELLER by way of set off or partial set off against the damages claimed by the SELLER.
9.3 Notwithstanding the foregoing, should the SELLER exercise any of his rights in terms hereof and should the PURCHASER dispute the SELLER’S right to do so, then pending the determination of that dispute, the PURCHASER shall continue to pay all amounts payable in terms of this CONTRACT on the due date thereof, and to comply with all the terms hereof, and the SELLER shall be entitled to recover and accept such payments and/or other performance without prejudice to the SELLER’S claim to have exercised rights in terms hereof, and in the event of the SELLER succeeding in such dispute, the SELLER shall be entitled to retain all such amounts paid received in the interim as payment for the occupational rights exercised and/or enjoyed by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered PURCHASER in the same good condition as at the date of possessioninterim.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Land & Building Agreement, Sale of Property Agreement
Breach. 16.1 12.1 If one of any party (“the Parties defaulting party”) commits a breach of this Agreement or fails to comply agreement and persists with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party such breach for more than 7 (sevenSEVEN) calendar days notice after being called upon in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationrectify same, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 12.1.1 to cancel this Agreement agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultdamages; or
16.1.2 12.1.2 to claim immediate performance and/or payment of all the defaulting party's ’s outstanding obligations in terms hereofhereof and claim damages.
16.2 12.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereincancellation, should the Purchaser pay any amount as required under this Deed of Saledefaulting party have been the Purchaser, the parties record and agree that the Agent Seller shall be entitled to first deduct from any such money paid under retain the deposit as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
12.3 If the Seller becomes entitled and elects to cancel this Deed Agreement after the Purchaser has taken occupation of Salethe Property, then the Purchaser shall notwithstanding that this Agreement may well be validly cancelled continue to pay the occupational rental, the value of its commission municipal charges and the levy and any direct costs incurred other amounts as if the agreement had not been cancelled. The Seller shall be entitled to claim and recover any shortfall thereon from accept payment of such amounts without prejudice to the PurchaserSeller’s claim for cancellation of this Agreement.
16.5 It is recorded further that 12.4 If any party (“the deduction by innocent party”) becomes entitled to enforce a remedy in terms of this Agreement, it will, notwithstanding having chosen a particular remedy, continue to enjoy the Agent of commission due right to enforce any other remedy open to it under as a result of the sale does same instance of breach.
12.5 Notwithstanding the above provisions neither party shall be entitled to cancel the agreement after 7 calendar days’ notice if the breach complained of is not absolve reasonably capable of being remedied in the Purchaser from any and all other obligations arising from this Deed of Sale7 calendar day period. In such an event the notice placing the defaulting party on terms to perform shall only entitled the cancellation on the agreement if the period given to perform is reasonable in the circumstances. The Transferring Attorneys will have the final say whether or not it is a reasonable period or what would be reasonable in the circumstances.
Appears in 2 contracts
Samples: Deed of Sale, Deed of Sale
Breach. 16.1 If one of Each party may terminate the Parties commits a breach portions of this Agreement relating to the Blood Screening Field or fails the portions of this Agreement relating to comply with the Clinical Diagnostic Field, as the case may be, upon or after the breach of any material provision of this Agreement, if the breaching party has not cured such breach within ninety (90) days after notice thereof from the non-breaching party.
(a) If the breaching party is not obligated as of the date of the breach in connection with the provisions hereofof this Agreement pertaining to both the Blood Screening Field and the Clinical Diagnostic Field, then a termination pursuant to Section 11.2.1, 11.2.2 or 11.2.3 of the portions of this Agreement relating to the Blood Screening Products shall not affect the portions of this Agreement relating to Clinical Diagnostic Products, and a termination of the portions of this Agreement relating to Clinical Diagnostic Products shall not affect the portions of this Agreement relating to Blood Screening Products. If the breaching party is obligated as of the date of the breach in connection with the provisions of this Agreement pertaining to both the Blood Screening Field and the Clinical Diagnostic Field, then the Aggrieved Party non-breaching party may terminate this Agreement in its entirety for any material breach if the breaching party has not cured such breach within ninety (90) days after notice.
(b) Any dispute with respect to the right of a party to terminate all or a portion of this Agreement pursuant to this Section 11.2.1 shall be entitled subject to give resolution pursuant to Article 13. During the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period maypendency of any arbitration proceeding, at the election request of the Aggrieved Party be reduced non-breaching party, the arbitrator may take such interim steps and make such preliminary orders as the arbitrator deems necessary to 48 (forty eight) hours). If preserve the defaulting rights of the non-breaching party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in lawpending a final arbitration award, including ordering the right grant, on a temporary basis, of such licenses or rights as may be necessary to claim damages:
16.1.1 enable the non-breaching party to cancel preserve its economic interest in the Products for the Blood Screening Field and/or the Products for the Clinical Diagnostic Field, as the case may be. At the conclusion of any such arbitration, if the arbitrator determines that the respondent materially breached this Agreement and upon cancellation: that money damages will not adequately compensate the claimant and that no other remedy is adequate in the circumstances considered as a whole, then the arbitrator may order the breaching party to grant to the non-
breaching party such rights (including a nonexclusive, worldwide license, bearing a reasonable commercial royalty, under intellectual property rights of the breaching party which are the subject of this Agreement) as may be reasonably necessary to enable the claimant to complete development already in progress of, make, use, offer for sale, sell and/or import Products for use in the Blood Screening Field and/or the Clinical Diagnostic Field, as the case may be, for the lesser of (a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop five years or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
(b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation then-remaining period of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possessionAgreement.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 2 contracts
Samples: Agreement (Gen Probe Inc), Agreement (Gen Probe Inc)
Breach. 16.1 12.1 If one of any party (“the Parties defaulting party”) commits a breach of this Agreement or fails to comply agreement and persists with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party such breach for more than 7 (sevenSEVEN) days notice after being called upon in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationrectify same, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 12.1.1 to cancel this Agreement agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultdamages; or
16.1.2 12.1.2 to claim immediate performance and/or payment of all the defaulting party's party‟s outstanding obligations in terms hereofhereof and claim damages.
16.2 12.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereincancellation, should the Purchaser pay any amount as required under this Deed of Saledefaulting party have been the Purchaser, the parties record and agree that the Agent Seller shall be entitled to first deduct from any such money paid under this Deed of Saleretain the deposit as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
12.3 Upon cancellation, should the defaulting party have been the Seller, the value Seller shall pay to the Purchaser an amount equal to the deposit paid by the Purchaser and the Purchaser shall be entitled to retain this amount as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
12.4 If the Seller becomes entitled and elects to cancel this Agreement after the Purchaser has taken occupation of its commission the Property, then the Purchaser shall notwithstanding that this Agreement may well be validly cancelled continue to pay the occupational rental, the municipal charges and the levy and any direct costs incurred other amounts as if the agreement had not been cancelled. The Seller shall be entitled to claim and recover any shortfall thereon from accept payment of such amounts without prejudice to the PurchaserSeller‟s claim for cancellation of this Agreement.
16.5 It is recorded further that 12.5 If any party (“the deduction by innocent party”) becomes entitled to enforce a remedy in terms of this Agreement, it will, notwithstanding having chosen a particular remedy, continue to enjoy the Agent of commission due right to enforce any other remedy open to it under as a result of the sale does same instance of breach.
12.6 Notwithstanding the above provisions neither party shall be entitled to cancel the agreement after 7 days‟ notice if the breach complained of is not absolve reasonably capable of being remedied in the Purchaser from any and all other obligations arising from this Deed 7 day period. In such an event the notice placing the defaulting party on terms to perform shall only entitle the cancellation of Salethe agreement if the period given to perform is reasonable in the circumstances.
Appears in 2 contracts
Samples: Deed of Sale, Deed of Sale
Breach. 16.1 If one of 14.1 Should any party (the Parties commits "defaulting party") commit a breach of this Agreement or fails to comply with any of the provisions hereofof this Agreement, then the Aggrieved Party party which is not in breach (the "aggrieved party') shall be entitled to give the Defaulting Party 7 (seven) days defaulting party written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)breach. If the defaulting party fails to comply with such that notice then within 7 (seven) days of receipt thereof, subject to any other provisions of this Agreement to the innocent contrary, the aggrieved party shall forthwith be entitledentitled to cancel this Agreement or to claim specific performance, but not obliged, in either event without prejudice to any other rights or remedies which the he may have in law, including the aggrieved party's right to claim damages:. The aforegoing is without prejudice to such other rights as the aggrieved party may have in terms of this Agreement, common law or statute;
16.1.1 to cancel 14.2 In the event of the Seller cancelling this Agreement as aforesaid, any amount or amounts paid by the Purchaser to the Seller or the Conveyancers (including any amount paid in trust) shall be forfeited to and upon cancellation: -
a) retained by the Seller as rouwkoop; alternatively, if the defaulting party is Seller so elects, he may recover any damages howsoever incurred as a result of such cancellation (including any losses and expenses on a resale, whether by public auction or private treaty), in which case the amount or amounts paid to the Seller or the Conveyancers as aforesaid (including any amount paid in trust) will not be forfeited as rouwkoop but may be retained by the Seller by way of set off or partial set off against the damages claimed by the Seller;
14.3 Notwithstanding the aforegoing, should the Seller exercise any of his rights in terms hereof and should the Purchaser dispute the Seller's right to do so, then pending the determination of that dispute, the Purchaser shall continue to pay all amounts payable in terms of this Agreement on the due date thereof and to comply with all the terms hereof, and the Seller shall be entitled to recover and accept such payments and/or other performance without prejudice to the seller's claim to have exercised rights in terms hereof, and in the event of the Seller succeeding in such dispute, the Seller shall be entitled to retain all such amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered received in the same good condition interim as at payment for the date of possession.
16.3 Occupancy of the Property occupational rights exercised and/or enjoyed by the Purchaser or persons on in the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common lawinterim.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Offer to Purchase Hotel Unit
Breach. 16.1 If one of the Parties commits a A breach of this Agreement agreement shall exist, if at any time during the term of this agreement Sublessee shall: (a) vacate said premises or fails to comply with default in the payment of rent or in the performance of any of these provisions; or (b) make an assignment for the provisions hereofbenefit of creditors; or (c) file or have filed against it, then a petition for bankruptcy or arrangement in settlement of liabilities or reorganization. In the Aggrieved Party event a breach occurs, and if the beach is not cured within thirty (30) days of the mailing of written notice by Lessor to Sublessee of the nature of such breach, Lessor shall have the following rights:
(1) Lessor shall have the right to enter the Premises and remove all persons and property from the Premises and store such property in a public warehouse or elsewhere at the cost of Sublessee, and Lessor may either terminate this agreement or, without terminating this agreement, make such alterations and repairs as may be necessary in order to rent the Premises, and rent the Premises or any part of the Premises for such term and at such rents and upon such other terms and conditions as Lessor, in its sole discretion, may deem advisable. Upon such renting, all rentals received by Lessor shall be entitled applied: first, to give the Defaulting Party 7 payment of any debt other than rent due hereunder from Sublessee to Lessor; second, to pay any reasonable costs and expenses of such renting, including brokerage and legal fees; third, to pay any rent due hereunder; and the residue, if any, shall be held by Lessor and applied in payment of future rent which becomes due and payable hereunder. If the rental received from renting the Premises is less than the rent payable hereunder, Sublessee shall pay any such deficiencies monthly to Lessor. No entry or taking possession of the Premises by Lessor shall be an election by Lessor to terminate this agreement.
(seven2) days notice Lessor shall also have the right to terminate this agreement in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationwhich event, in addition to any other remedies Lessor may have, Lessor may recover from Sublessee all damages incurred by reason of Sublessee's breach, including the cost of recovering the Premises, reasonable legal fees and any excess of the rent reserved in this agreement for the remainder of the stated term over the then reasonable rental value of the Premises for the remainder of the stated term, all of which case the 7 shall be immediately due and payable from Sublessee to Lessor.
(seven3) day period Lessor may, at the election its option, instead of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to exercising any other rights right or remedies which the he remedy, spend such reasonable sums as may have in lawbe reasonably necessary to cure any default of Sublessee and such amount, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller legal fees, shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commissionSublessee, as rouwkoop additional rent, upon demand.
(4) Any remedy of Lessor herein or by law or statute shall be cumulative with all other remedies and may be exercised from time to time and as often as the occasion may arise.
(5) No forbearance by Lessor to exercise any right accruing to Lessor hereunder shall be construed as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms waiver of any statutory provision or at common lawsuch rights.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Sublease Agreement (United Community Bancshares Inc)
Breach. 16.1 If one 15.1 Should the PURCHASER fail to pay any amount, or fail to provide the guarantee(s) required in terms of this Agreement on due date, or should the Parties commits PURCHASER commit a breach of any other of the terms and conditions of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party and remain in default for 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, may at the election of the Aggrieved Party SELLER be reduced to 48 24 (forty eighttwenty four) hours). If hours after dispatch of a written notice requiring payment and/or delivery of the defaulting party fails guarantee(s) and/or requiring such breach to comply with such notice then be remedied, the innocent party SELLER shall forthwith be entitled, but not obliged, entitled without prejudice to any other rights or remedies which of the he may have SELLER in law:
15.1.1 to cancel the sale in which event the PURCHASER shall forfeit all monies paid to the SELLER and/or the SELLER'S agents or conveyancers in terms hereof, including monies paid as a deposit to such conveyancers together with any interest earned thereon; and the SELLER'S agents or conveyancers shall be obliged to pay the deposit together with such interest to the SELLER. Such cancellation shall be without prejudice to the SELLER'S other legal rights and remedies and the right to claim damages:.
16.1.1 15.1.2 to cancel claim immediate payment, of the whole of the purchase price and the fulfilment of all the terms and conditions hereof.
15.2 In the event of the cancellation of this Agreement in terms of the previous paragraph, or the breach of any condition hereof that may result in this Agreement becoming null and upon cancellation: -
a) if void, or the defaulting party is SELLER resiling from this Agreement as provided herein, the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser PURCHASER shall not be entitled to claim any compensation from the Seller for in respect of any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, and additions made to immediately resubmit the Property for auction; and
b) if and the defaulting party is the Seller the Purchaser PURCHASER shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure ensure that the Property shall be it is vacated by any persons who occupy occupying the Property through on the Purchaser’s title or by his permission. Occupation shall be re- delivered in authority of the same good condition as at the date of possessionPURCHASER.
16.3 15.3 Occupancy of the Property by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common lawtenancy.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Sale Agreement
Breach. 16.1 If one of Should the Parties commits a breach Seller or the Purchaser, as the case may be (“the defaulting Party”): fail to pay any amount due by the defaulting Party in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party on due date and remain in default for more than 7 (seven) days notice after being notified in writing to do so by the other Party (“the aggrieved Party”);or commit any other breach of any of the provisions of this Agreement and fail to remedy such that breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the within a period of 7 (seven) day period may, at days after the election receipt of written notice to that effect by the other Party (“the aggrieved Party”) and complete the remedying of such breach within a reasonable time; or commit a breach of any of the Aggrieved provisions of this Agreement at a time critical to the registration procedure and fail to remedy that breach within 48 hours after receipt of written notice to that effect by the other party ("the aggrieved Party"); then and in any of these events, the aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he aggrieved Party may have in law, including the right to claim damages:
16.1.1 : to cancel this Agreement without any further notice and upon cancellation: -
a) if in the event of the Purchaser being the defaulting party is the Purchaser Party, the Seller shall be entitled to retain all amounts monies paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop Purchaser pending determination of its damages; or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the obligations of the defaulting party's obligations Party in terms hereof.
16.2 of this Agreement, including immediate payment of the balance of the purchase price of the Subject Matter in the event of the Purchaser being the defaulting Party. Should the Purchaser dispute the right of the Seller to cancel this Agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by it in terms of this Agreement on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller’s claim for cancellation of this Agreement or any other rights of the Seller whatsoever. Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to vacate forthwith vacate the Property Unit and all Exclusive Use Areas and shall cease to procure that the Property shall be vacated by have any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required rights under this Deed of Sale, Agreement and the parties record and agree that the Agent Seller shall immediately be entitled to first deduct from any such money paid under this Deed of Sale, resell the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserSubject Matter.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Agreement of Sale
Breach. 16.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the business/Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auctionauction or claim commission as agreed in terms of clause 7 hereto ; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof;
16.1.3 Should the agreement be cancelled as a result of the breach/default of the Seller, the Agent reserves its right to claim from the Seller agent commission not exceeding 10% (ten precent) of the purchase price or the total costs of advertising and conducting an auction and such other additional costs, as referred to in clause 3 of the Rules of Auction, whichever one is the greatest of the two.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property (and return the ownership of the business) and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his its permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Deed of Sale (Going Concern)
Breach. 16.1 If one 17.1 Should the Purchaser’s estate be provisionally sequestrated or liquidated as insolvent or place under judicial management prior to transfer of the Parties commits Property to the Purchaser or should the Purchaser commit a breach or any provision of this Agreement or fails agreement and should he fail to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party remedy such breach within 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced date of receipt of written notice from the Seller calling upon him to 48 (forty eight) hours). If do so, the defaulting party fails to comply with such notice then Seller shall have the innocent party shall forthwith be entitled, but not obligedright, without prejudice to any other rights or remedies which the he may have available in law, including the right to claim damages:
16.1.1 17.1.1 to cancel this Agreement and upon cancellation: -
aagreement by written notice to the Purchaser. The cancellation shall be deemed to take effect four (4) if days after the defaulting party is date of posting the notice to the Purchaser by prepaid registered post. In the event of cancellation and on such date of cancellation:
17.1.1.1 the Purchaser shall deliver possession and occupation of the Property and any improvements thereon to the Seller at the Purchaser’s expense;
17.1.1.2 prior to transfer of the Property to the Purchaser, the Purchaser shall have no claim for compensation for any improvements of any nature whatsoever on the Property, which improvements shall vest in the Seller;
17.1.1.3 any amounts paid by the Purchaser to the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, retained as rouwkoop or as a genuine for the Seller’s pre-estimate estimated and/or liquidated damages, or alternatively the Seller may institute action against the Purchaser for recovery of damage the actual damages suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result retain all payments received in terms of the Seller‘s default; oragreement pending determination of such actual damages.
16.1.2 17.1.2 to claim immediate specific performance and/or in accordance with the terms of the agreement including payment of all the defaulting party's obligations amounts payable in terms hereof.
16.2 Upon cancellation of this Agreement agreement, whether or not such amounts are then due for whatever reasonpayment, together with any damages suffered by the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through Seller in consequence of the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possessiondefault.
16.3 Occupancy of 17.2 Notwithstanding the Property by aforegoing and without prejudice to the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either Seller's other rights in terms of any statutory provision or at common this agreement and in law.
16.4 Notwithstanding what is contained herein, should the Purchaser fail to deliver the guarantees timeously or fail to pay any amount as required under transfer costs or other amounts due and payable in terms of this Deed agreement on its due date, or should the Purchaser cause the registration of Saletransfer to be delayed in any way, the parties record and agree Purchaser shall forthwith from such date of failure to deliver the guarantees or to effect payment, until date of receipt of guarantees or payment by the Seller/Conveyancer; or from the date of the commencement of the delay occasioned by the Purchaser until such date that the Agent aspect causing the delay has been resolved, as the case may be, be liable to pay interest to the Seller on the Purchase Price at the prime lending rate charged by Absa Bank Limited during the period aforesaid plus 2% (two percent), which interest shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction payable on demand by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of SaleSeller.
Appears in 1 contract
Samples: Agreement of Sale
Breach. 16.1 If one 12.1 In the event of the Parties commits a breach of the conditions contained in this Agreement or fails to comply with any of agreement by the provisions hereofPURCHASER, then the Aggrieved Party SELLER shall be entitled to give the Defaulting Party 7 (seven) days notice demand specific performance in writing terms of this agreement, including but not limited to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election immediate payment of the Aggrieved Party be reduced to 48 (forty eight) hours). If full outstanding balance of the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitledpurchase price, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement agreement immediately and upon cancellation: the PURCHASER shall be liable to pay in addition to any commission payable in terms of this agreement, also be liable to the SELLER for damages which include but not be limited to any and all additional costs associated with the re-
a) if auctioning of the defaulting party is PROPERTY any additional advertising costs, interest and damages suffered by the Purchaser SELLER as a result of the Seller PURCHASER’S breach and the subsequent cancellation of the agreement, Subject to all special conditions having been met. The AUCTIONEER shall be entitled to retain all amounts paid by any monies earned as commission as per clause 3.6, 3.7 and 4 herein.
12.2 Notwithstanding what is contained herein, should the PurchaserPURCHASER pay any portion of the deposit but not pay a portion of or the full commission as required under these Conditions of Sale, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, PARTIES record and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser AUCTIONEER/AGENT shall be entitled to a full refund deduct from any portion of all money the deposit paid in terms hereof to under these Conditions of Sale, the Seller value of its commission and to the Agent direct costs and to claim recover any other damages shortfall thereon from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofPURCHASER.
16.2 12.3 It is recorded further that the deduction by the AUCTIONEER/AGENT of commission due to it under the sale does not absolve the PURCHASER from any and all other obligations arising from these conditions of sale
12.4 Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein. 000 Xxxxxxxxx Xxxx, should the Purchaser pay any amount as required under this Deed of SaleMenlo Park, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of SalePretoria, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.Gauteng P.O Box 11246, Menlo Park, Gauteng, 0161
Appears in 1 contract
Samples: Auction Contract
Breach. 16.1 If one 11.1 Should the Purchaser commit any breach of the Parties commits a breach terms of this Agreement or fails Agreement, all of which are deemed to comply with any of the provisions hereofbe material, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 and persist in such breach for more than 14 (sevenfourteen) days after the Seller has given a written notice in writing to the Purchaser requiring him to remedy such breach or failure (unless such breach or failure occurs after breach, the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party Seller shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which available to the he may have in law, including the right Seller at law —
11.1.1.1 to claim damages:specific performance by way of immediate payment of the full Balance of The Purchase Price then unpaid, together with interest and all other monies then outstanding under this Agreement; or
16.1.1 11.1.1.2 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is retain all amounts paid by the Purchaser as a genuine pre-estimate of liquidated damages and to recover arrear payments up to the date of cancellation; or
11.1.1.3 cancel this Agreement and claim and recover from the Purchaser such damages as the Seller may have suffered, in which event the Seller shall be entitled to retain all amounts paid payments made by the PurchaserPurchaser prior to cancellation until the actual amount of damages has been determined by a court and thereupon, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate to set off such damages against the aforesaid sums retained.
11.2 In the event of damage suffered by cancellation of this Agreement before Transfer the Purchaser shall immediately vacate the Land and restore possession and occupation thereof to the Seller, and furthermore the Purchaser shall not be entitled to compensation from have any claim against the Seller for any improvements of whatsoever nature it that the Purchaser may have caused effected to the Land, notwithstanding the fact that the Seller may have consented to the possession and/or occupation of the Land or to the erection of such improvements.
11.3 The Purchaser shall be liable for and pay on demand all legal costs, on the Propertyattorney and client scale, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is incurred by the Seller in any legal proceedings instituted by the Seller against the Purchaser as a result of or arising from a breach of this Agreement.
11.4 Should the Purchaser dispute the Seller’s right to terminate or cancel this Agreement, then, pending the termination of such dispute, the Purchaser shall be entitled obliged to a full refund continue to effect payment of all money paid monies payable by him in terms hereof to on the due dates thereof and the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any recover and accept such money paid under this Deed of Sale, the value of payments without prejudice to its commission and any direct costs incurred and recover any shortfall thereon from the Purchaserrights.
16.5 It is recorded further that 12.1 The Parties choose as their domicilium citandi et executandi their respective addresses set out in this 12 for all purposes arising out of or in connection with this Agreement at which addresses all the deduction processes and notices arising out of or in connection with this Agreement, its breach or termination may validly be served upon or delivered to the Parties.
12.2 For the purpose of this Agreement the Parties’ respective addresses shall be -
12.2.1 as regards the Purchaser at the address set out in item 1.2.1 or 1.2.2, as the case may be, of the Transaction Schedule; and
12.2.2 as regards the Seller at the address set out in item 1.1 of the Transaction Schedule, or at such other address in the Republic of South Africa, not being a post office box or poste restante, of which the party concerned may notify the others in writing.
12.3 Any notice given in terms of this Agreement shall be in writing and shall if delivered by -
12.3.1 hand be deemed to have been duly received by the Agent addressee on the date of commission due delivery;
12.3.2 recognised international courier service be deemed to have been received by the addressee on the 1st (first) Business Day following the date of such delivery by the courier service concerned; and
12.3.3 telefax or email be deemed to have been received by the addressee on the 1st (first) Business Day following the date of transmission of such telefax or email.
12.4 Notwithstanding anything to the contrary herein contained a written notice or communication actually received by a Party shall be an adequate written notice or communication to it under the sale does notwithstanding that it was not absolve the Purchaser from any and all other obligations arising from this Deed of Salesent to or delivered at its chosen domicilium citandi et executandi.
Appears in 1 contract
Samples: Sale Agreement
Breach. 16.1 If one 12.1. Should the Company at any time prior to the issue of any Class C Subsequent Subscription Share to any Subscriber breach any material provision of the Parties commits a Original Preference Share Subscription Agreement and should:
12.1.1. such breach be incapable of this Agreement or fails to comply with any being remedied; or
12.1.2. such breach be capable of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing being remedied but fail to remedy such breach or failure within 5 (unless five) Business Days after receipt of a notice from the Preference Share Agent requiring such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationremedy, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obligedthen, without prejudice and in addition to any all other rights or remedies which that the he Subscribers may have in lawterms of the Original Preference Share Subscription Agreement, including this Agreement, any other Financing Agreement or at law (but subject to clause 13), the right Subscribers shall be entitled, on written notice from the Preference Share Agent to the Company, to forthwith cancel their commitment to subscribe for the Class C Subsequent Subscription Shares (and, accordingly, the Subscribers shall not be required or be obliged to subscribe for any Class C Subsequent Subscription Shares in the Company) and the Amended and Restated Agreements will cease to be of any force or effect and the Parties shall be restored, as near as possible to the position in which they would have been had the Amended and Restated Agreements not been entered into, and no Party shall have any claim damages:against any other Party in terms of the Amended and Restated Agreements except for such claim (if any) as may arise from a breach of clause 2 of the Amendment and Restatement Agreement or any other Financing Document by which the Parties remain bound.
16.1.1 12.2. Should the Company, in respect of the Class A Preference Shares, Class B Preference Shares, Class C Initial Subscription Shares or Class D Preference Shares, at any time or, in respect of the Class C Subsequent Subscription Shares, at any time after the issue of such Class C Subsequent Subscription Shares to any Subscriber, breach any provision of this Agreement and should the Company fail to remedy such breach within 5 (five) Business Days after receipt of a notice from the Preference Share Agent requiring such remedy, then the Subscribers, Class A Preference Shareholders, Class B Preference Shareholders, Class C Preference Shareholders and Class D Preference Shareholders shall not, as a result thereof, be entitled to cancel this Agreement but, without prejudice and upon cancellation: -
a) if in addition to all other rights or remedies that the defaulting party is Subscribers, Class A Preference Shareholders, Class B Preference Shareholders, Class C Preference Shareholders and/or Class D Preference Shareholders may have in terms of this Agreement, any other Financing Agreement or at law (but subject to 13), the Purchaser the Seller Subscribers, Class A Preference Shareholders, Class B Preference Shareholders, Class C Preference Shareholders and Class D Preference Shareholders shall be entitled entitled, at their election:
12.2.1. to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or treat such breach as a genuine pre-estimate “Trigger Event” for purposes of damage suffered the Class A Preference Shares, the Class B Preference Shares, the Class C Preference Shares and/or the Class D Preference Shares;
12.2.2. claim such damages from the Company as they may have suffered.
12.3. Should:
12.3.1. any Subscriber, by no later than 10h00 on the Sellerapplicable Subsequent Subscription Date, fail to pay the full Class C Subsequent Subscription Price payable by it in respect of the Class C Subsequent Subscription Shares to be subscribed for by it; and
12.3.2. that Subscriber fail to remedy same by no later than 11h00 on the applicable Subsequent Subscription Date after receipt of a notice from the Preference Share Agent, any other Subscriber and/or the Company requiring such remedy, then, without prejudice and furthermore in addition to all other rights or remedies that the Purchaser Preference Share Agent, the other Subscribers and/or the Company may have in terms of this Agreement, any other Financing Agreement (other than the Interfunder Agreement) or at law, the Preference Share Agent, any other Subscriber and/or the Company shall not be entitled to compensation from cancel this Agreement.
12.4. Should any Party breach any provision of this Agreement other than referred to in 12.1, 12.2 and 12.3, then none of the Seller for any improvements of whatsoever nature it may have caused on the Propertyremaining Parties shall, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitledas a result thereof, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim cancel this Agreement or any other damages from the Seller that it may have suffered as a result Financing Agreement.
12.5. The Parties agree that, because of the Seller‘s default; or
16.1.2 limitation of remedies available to claim immediate performance and/or payment some of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either them in terms of this Agreement, specific performance shall always be available as a remedy for any statutory breach of any provision or at common lawof this Agreement.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Breach. 16.1 11.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 11.1.1 to cancel this Agreement and upon cancellation: -
a) 11.1.1.1 if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEERAGENT’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 11.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.. DRAFT
16.2 11.2 Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 11.3 Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 11.4 Notwithstanding what is contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed of Sale, the parties record and agree that the Agent AGENT shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 11.5 It is recorded further that the deduction by the Agent AGENT of commission due to it under the sale does not absolve the Purchaser PURCHASER from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Offer to Purchase
Breach. 16.1 If one 8.1 Should the Purchaser/s fail to fulfil any of the Parties commits a breach of Purchaser/s’ obligations under this Agreement or fails agreement and fail to comply with any these obligations within 5 (five) working days after a letter has been handed to the Purchaser/s, has been sent by way of facsimile or has been sent by registered post to the provisions hereofPurchaser/s at the Purchaser/s’ domicilium citandi et executandi informing the Purchaser of his/her failure and calling upon him/her to fulfil the obligation in question within a period of 5 (five) working days, then the Aggrieved Party Seller shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he Seller may have in law, including the right :
8.1.1 to claim immediate payment of all amounts owing under this agreement, which amounts shall be deemed to become due and payable forthwith; or
8.1.2 to terminate this agreement, obtain immediate repossession of the Property and to eject the Purchaser/s there from; and
8.1.3 to retain as "rouwkoop" and/or as liquidated damages:, all amounts paid by the Purchaser/s under this agreement; or
16.1.1 8.1.4 to cancel this Agreement recover an amount equivalent to 10% (ten per centum) of the Purchase Price, together with an amount equal to any agent's commission which may be payable to or have been paid by the Seller, and upon cancellation: -Conveyancer’s wasted costs; or
a) if 8.1.5 to recover from the defaulting party is Purchaser/s the Purchaser actual damages sustained by the Seller shall be entitled by reason of the Purchaser/s’ default, and to retain all amounts paid by the Purchaser/s pending the determination of such damages.
8.2 If the Seller elects to institute action for the balance of the Purchase Price or any other monies which may be owing, excluding AUCTIONEER’s commissionincluding the taking of a judgment against the Purchaser/s, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser it shall not thereby be entitled to compensation debarred from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) cancelling this agreement if the defaulting party judgment is the Seller the Purchaser shall be entitled to a full refund not satisfied within 30 (thirty) days of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofbeing granted.
16.2 Upon cancellation of this Agreement 8.3 If the agreement is cancelled as provided for whatever reasonabove, the Purchaser hereby undertakes Purchaser/s and all persons claiming a right to occupation through the Purchaser/s, shall forthwith be obliged to vacate the Property and to procure that deliver it to the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered Seller in the same good order and condition as at in which he received it. In this regard, it is hereby specifically recorded, that no lease or other right of occupation in favour of the date Purchaser/s shall be created or come into existence by virtue of possessionthis agreement.
16.3 Occupancy 8.4 If however, the Purchaser/s dispute the Seller's right to terminate this agreement, then pending the determination of such dispute, the Property Purchaser/s shall be obliged to continue to pay all amounts payable by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either him/her in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should this agreement on the Purchaser pay any amount as required under this Deed of Sale, due dates and the parties record and agree that the Agent Seller shall be entitled to first deduct from accept such payments without prejudice to its rights of cancellation as aforesaid. If such dispute is decided in favour of the Seller, then such amounts so received by the Seller after cancellation as aforesaid shall be deemed to have been paid to the Seller prior to cancellation.
8.5 It is specifically recorded that should any such money paid under this Deed of Salebreach by the Purchaser/s occur at a time critical to the registration procedure, the value of its commission and any direct costs incurred and recover any shortfall thereon from Seller shall be entitled to require the Purchaser/s to remedy such breach within a period of 24 (twenty four) hours and not within the 7 (seven) day period as provided for above.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Sale Agreement
Breach. 16.1 If 12.1. Should either the Seller on the one of hand or Corvest on the Parties commits other hand ("the defaulting party") commit a breach of this Agreement or fails to comply with any of the provisions hereof, then any of the Aggrieved Party shall parties aggrieved thereby ("the aggrieved party") shall, if it wishes to enforce its rights hereunder, be entitled obliged to give the Defaulting Party 7 defaulting party 14 (sevenfourteen) days written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)breach. If the defaulting party fails to comply with such notice then notice, the innocent aggrieved party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid cancel this agreement, claim immediate payment and/or performance by the Purchaserdefaulting party of all of the defaulting party's obligations whether or not the due date for payment and/or performance shall have arrived. The parties agree that once the conditions precedent have been fulfilled and the shares and claims have been delivered and the full purchase price has been paid, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser aggrieved party shall not be entitled to compensation cancel this transaction as a result of a breach by any defaulting party of its obligations in terms hereof and the aggrieved party shall only be entitled to claim payment or performance from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is concerned. Any claim by an aggrieved party shall be without prejudice to such party's rights to claim damages.
12.2. Should the Seller acquisition agreement be cancelled, in circumstances entitling either the Purchaser company or Corvest, as the case may be, to cancel same as a result of any breach of the provisions thereof by:
12.2.1. the company, then Corvest shall be entitled to a full refund of all money paid in terms hereof cancel this agreement by written notice to the Seller and seller in which event the agreement shall be deemed to the Agent and to claim any other damages from the Seller that it may have suffered been cancelled as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy material breach of the Property provisions hereof by the Purchaser or persons on seller; and
12.2.2. Corvest, then the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent seller shall be entitled to first deduct from any such money paid under cancel this Deed agreement by written notice to Corvest in which event this agreement shall be deemed to have been cancelled as a result of Sale, a material breach of the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaserprovisions hereof by Corvest.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Breach. 16.1 20.1. If one of the Parties any party commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled of this Agreement and fails to give the Defaulting Party remedy such breach within 7 (seven) calendar days after receipt of a written notice in writing from the other party calling upon it to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationbreach, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damagesterms of this Agreement and or at Law to:
16.1.1 to 20.1.1. cancel this Agreement and upon cancellation: -claim such damages as it may have sustained from the defaulting party; or
a) if 20.1.2. claim immediate performance by the defaulting party is of all its obligations in terms of this Agreement whether or not the due date for performance shall otherwise have arrived.
20.2. The Seller may retain any cash payments made by the Purchaser prior to cancellation as liquidated damages, without prejudice to any other right that the Seller shall be entitled may have. In such cases the Transferring Attorneys is hereby authorized to retain all pay such amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofon its request.
16.2 20.3. Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property forthwith, and to procure that the Property shall be vacated by any persons who occupy the Property it through the Purchaser’s 's title or by his permission. Occupation shall be re- delivered redelivered in the same good order and condition as at the date of possessionOccupation Date.
16.3 Occupancy 20.4. The defaulting party shall pay all legal and other costs, including costs on the attorney and client scale, incurred by the innocent party in successfully enforcing the provisions of the Property this Agreement.
20.5. It is specifically recorded that should any breach by the Purchaser or persons on occur at a time critical to the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Saleregistration procedure, the parties record and agree that the Agent Seller shall be entitled to first deduct from any require the Purchaser to remedy such money paid under breach within a period of 24 (Twenty-Four) hours, and not within the 7 (Seven) calendar days provided for herein above.
20.6. Should the Purchaser dispute the Seller's right to cancel this Deed Agreement, then pending the determination of Salethat dispute, the value Purchaser shall be obliged to continue payment of its commission all amounts payable by him in terms of this Agreement which will include Levies and Interest on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller's claim for cancellation of this Agreement or any direct costs incurred and recover other rights of the Seller whatsoever. Failure to pay any shortfall thereon from of the aforesaid amounts will constitute a material breach of this Agreement.
20.7. In the event of the cancellation of this Agreement as a result of the conduct of the Purchaser.
16.5 It is recorded further that , the deduction Purchaser hereby agrees to pay the following amounts, amongst others, but not limited to, to the Seller: the amount due to the Estate Agent and referred to herein plus the wasted fees and costs of the Transferring Attorneys plus an amount equal to 20% (Twenty percent) of the Purchase Price. These amounts must be paid by the Agent Purchaser to the Seller within a period of commission due to it under 3 (Three) calendar days after written demand thereto by the sale does not absolve Seller or the Purchaser from any and all other obligations arising from this Deed of SaleTransferring Attorneys.
Appears in 1 contract
Samples: Agreement of Sale
Breach. 16.1 If one of the Parties commits 15.1 Should either party commit a breach of this Agreement or fails to comply with any of the provisions hereofterms of this Agreement, then the Aggrieved Party shall be entitled and fail to give the Defaulting Party 7 remedy same within five (seven5) days notice of being called upon in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationdo so, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other his rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it he may have suffered as a result of such breach to cancel the Seller‘s defaultAgreement by written notice to the defaulting party; or
16.1.2 or to claim immediate performance and/or payment by the party of all the defaulting party's his/her obligations in terms hereofof this Agreement.
16.2 15.2 No latitude, extension of time or indulgence granted by either party to the other shall be construed as prejudicing such party’s right to insist on the strict and punctual compliance by the other party with the terms of this Agreement.
15.3 Should this agreement be cancelled as a result of breach by the Purchaser, both the Seller and the Purchaser acknowledge and irrevocably agree that the deposit and/or any amount paid by the Purchaser to the Conveyancers for costs in connection with the transaction, will be utilized towards payment of the Brokerage Fee and will be paid out to NestEgg Real Estate by the Conveyancers from such deposit or costs received. The Seller and Purchaser hereby indemnify the Conveyancers against any claims for damages or otherwise that may be instituted by any party to this deed of sale for reason of payment of the Brokerage Fee made by the Conveyancers to NestEgg Real Estate in accordance with this paragraph. The parties agree further that any balance of monies paid by the Purchaser in terms of this Agreement shall be paid to the Seller as liquidated damages.
15.4 The Purchaser and Seller choose their residential addresses as stated in this Agreement, as the address at which they will accept delivery of service of all notices and legal process. All notices required to be given by one party to the other shall be in writing and shall be deemed to be received by the addressee on the seventh business day following the posting thereof by pre-paid registered post or on the date of transmission thereof if by sent by e-mail.
15.5 Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property forthwith, and to procure ensure that the Property shall be vacated by any persons who occupy the Property it through the Purchaser’s title or by his permission. Occupation shall be re- delivered redelivered in the same good order and condition as at the date of possessionOccupation Date.
16.3 Occupancy of 15.6 The defaulting party shall pay all legal and other costs, including costs on the Property attorney and client scale, incurred by the Purchaser or persons on innocent party in successfully enforcing the authority provisions of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common lawthis agreement.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Offer to Purchase
Breach. 16.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent eXp and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reasonreason in circumstances where the Purchaser has taken occupation pursuant to this Agreement, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered redelivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent eXp shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission brokerage and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent eXp of commission brokerage due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Offer to Purchase
Breach. 16.1 If one of 22.1 Should any party (the Parties commits "defaulting party") commit a breach of this Agreement or fails to comply with any of the provisions hereofof this agreement, then the Aggrieved Party party which is not in breach (the "aggrieved party') shall be entitled to give the Defaulting Party 7 (seven) days defaulting party written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)breach. If the defaulting party fails to comply with that notice within 7 (seven) days of receipt thereof, subject to any other provisions
22.2 In the event of the Seller cancelling this agreement in terms of the provisions of clause 22.1, any amount or amounts paid to the Seller or the Conveyancers (including any amount paid in trust) shall be forfeited to and retained by the Seller as rouwkoop; alternatively, if the Seller so elects, he may recover any damages howsoever incurred as a result of such notice cancellation (including any losses and expenses on a resale, whether by public auction or private treaty), in which case the amount or amounts paid to the Seller or the Conveyancers as aforesaid (including any amount paid in trust) will not be forfeited as rouwkoop but may be retained by the Seller by way of set off or partial set off against the damages claimed by the Seller;
22.3 Notwithstanding the a foregoing, should the Seller exercise any of his rights in terms hereof and should the Purchaser dispute the Seller's right to do so, then pending the innocent party determination of that dispute, the Purchaser shall forthwith continue to pay all amounts payable in terms of this agreement on the due date thereof and to comply with all the terms hereof, and the Seller shall be entitled, but not obliged, entitled to recover and accept such payments and/or other performance without prejudice to any other the Seller's claim to have exercised rights or remedies which in terms hereof, and in the he may have event of the Seller succeeding in lawsuch dispute, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all such amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered received in the same good condition interim as at payment for the date of possession.
16.3 Occupancy of the Property occupational rights exercised and/or enjoyed by the Purchaser or persons on in the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common lawinterim.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Sale of Property Agreement
Breach. 16.1 If one 17.1 Should the Purchaser fail to fulfill on due date any of the Parties commits a breach terms and conditions of this Agreement, including failure to provide the guarantee/s required in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party and remain in default for 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office deeds office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party Seller be reduced to 48 (forty eight) hours). If ) after dispatch of a written notice requiring payment and/or delivery of the defaulting party fails guarantee/s and/or requiring such breach to comply with such notice then be remedied, the innocent party Seller shall forthwith be entitled, but not obliged, without prejudice to any other rights of the Seller in law or remedies which the he may have in lawterms of this agreement, including the right to claim damageseither:
16.1.1 17.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser in which event the Seller shall be entitled to obtain immediate repossession of the Unit and to claim forfeiture of and retain on account of damages all amounts monies paid by the PurchaserPurchaser to the Seller or to the Seller’s Attorneys on account of the purchase price, excluding AUCTIONEER’s commissioncosts or otherwise in terms of and pursuant to this Agreement; or
17.1.2 to require the Purchaser to fulfill all obligations hereunder.
17.2 If the Seller institutes legal proceedings against the Purchaser for payment of any amount and/or performance of any obligation due by the Purchaser in terms hereof, as rouwkoop or as a genuine pre-estimate of damage suffered the Purchaser shall pay all costs incurred by the Seller, including, but not by way of limitation, the costs of any letter of demand, all collection charges and furthermore costs and Attorney and own client charges.
17.3 If the Purchaser disputes the Seller’s right to cancel and/or remains in occupation of the Unit after date of cancellation the Purchaser shall continue to pay interest and levies as herein provided in consideration for continuing to occupy the Unit. Notwithstanding the aforegoing the above occupancy shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered regarded as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create creating a tenancy either in terms of any a statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Deed of Sale
Breach. 16.1 (a) If one of the Parties commits a breach of this Agreement or fails to comply with Seller shall default under any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 of this Agreement and such default is not cured by Seller within ten (seven10) days after receipt of written notice in writing from Purchaser of such default (provided, such notice of default and cure period shall not apply to remedy such breach or the failure of Seller to perform its obligations on the date of the Closing), Purchaser may, at its option, either: (unless such breach or failure occurs after i) terminate this Agreement and have the transfer documents have been lodged in Deposit returned by the Deeds Office for registrationEscrow Agent, in which case event the 7 parties shall have no further rights or liabilities one to the other hereunder; or (sevenii) day seek the equitable remedy of specific performance (provided that if Seller’s breach or default makes specific performance unavailable Purchaser shall have any and all remedies available at law or equity).
(b) Purchaser and Seller agree that if Purchaser defaults in its obligations under this Agreement for any reason whatsoever and such default is not cured by Purchaser within ten (10) days after receipt of written notice from Seller of such default (provided, such notice of default and cure period may, at shall not apply to the election failure of Purchaser to perform its obligations on the date of the Aggrieved Party be reduced to 48 (forty eight) hoursClosing). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commissionreceive and retain, as rouwkoop or as a genuine pre-estimate fixed and agreed upon liquidated damages, the Deposit. The foregoing shall constitute the sole and exclusive remedy of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may breach by Purchaser hereunder, and Purchaser shall have caused on the Propertyno Purchase and Sale Agreement Xxxxxxxxx Ave. Yonkers. (November 2005) • Page 7 Enclaves Group, Inc. other liability hereunder or in connection herewith, whether with for damages or without otherwise, except for the Seller‘s consentindemnity provisions of §§ 3 and 8 hereof. The parties specifically agree that the AUCTIONEER shall be entitledDeposit is a reasonable estimate of Seller's damages in the event of Purchaser's default and that Seller's receipt of the Deposit is not intended as a penalty, but not obligedas full and final liquidated damages.
(c) In the event that after the termination of this Agreement or after Closing, as the case may be, a party (the “Defaulting Party”) breaches an obligation hereunder which is expressly stated herein to immediately resubmit survive the Property for auction; and
btermination of this Agreement or Closing, as the case may be, the other party (the “Non-Defaulting Party”) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof equitable relief, and the Defaulting Party shall be liable to the Seller and to Non-Defaulting Party for the Agent and to claim any other actual damages from incurred by the Seller that it may have suffered Non-Defaulting Party as a direct result of such breach, as the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property sole and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy exclusive remedies of the Property by Non-Defaulting Party. However, in no event shall the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall Non-Defaulting Party be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserDefaulting Party any punitive, consequential, speculative, or any damages other than actual damages.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Breach. 16.1 18.1. If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty forty-eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 18.1.1. to cancel this Agreement and upon cancellation: -
a) 18.1.1.1. if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEERAGENT’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) 18.1.1.2. if the defaulting party is the Seller SELLER the Purchaser PURCHASER shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent SELLER and to claim any other damages from the Seller SELLER that it may have suffered as a result of the Seller‘s SELLER’s default; or;
16.1.2 18.1.2. to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 18.2. Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 18.3. Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Tender Agreement
Breach. 16.1 If one 11.1 In the event of the Parties commits a breach either party failing to fulfil on due date his obligations in terms of any provision or provisions of this Agreement or fails and remaining in such default for 7 (SEVEN) calendar days of delivery of a written notice by the innocent party calling upon the guilty party to comply with any of the provisions hereofrectify such default, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice and in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationevent, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, have the right to:
11.1.1 Hold the guilty party to this Agreement and demand fulfilment of his/her obligations in terms thereof; or
11.1.2 Cancel this Agreement without prejudice to any other the innocent party's rights or remedies which the he may have in law, including the right to claim damagesall damages suffered as a result of such breach/default. If the cancellation was due to the Purchaser’s breach, the Seller shall be entitled to:
16.1.1 to cancel 11.1.2.1 Retain any amounts deposited with the Conveyancers under this Agreement (after payment of the commission due to the Agency and upon cancellation: deduction of wasted conveyancer’s costs) up to an amount equal to the reasonable damages suffered by the Seller as pre-
a) if the defaulting party is estimated, liquidated damages and the Purchaser hereby irrevocably authorizes the Conveyancers in this case to pay their wasted costs and estate agent’s commission from the amount held in trust and to pay the balance to the seller; or
11.1.2.2 claim all damages suffered by the Seller by reason of such breach/default, in which event the parties hereby agree that the Seller shall be entitled to retain all any amounts paid deposited with the Conveyancers under this Agreement (after payment of the commission due to the Agency and deduction of wasted conveyancer’s costs) in reduction of such damages sustained by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by Seller without prejudice to the Seller’s rights to claim the balance of such damages from the Purchaser. The Purchaser hereby irrevocably authorizes the Conveyancers in this case to pay their wasted costs and estate agent’s commission from the amount held in trust and to pay the balance to the seller. To be initialled by:
11.2 Should this Agreement be cancelled in terms of clause 11.1.2 above, and furthermore the Purchaser shall not forthwith give up possession and vacate that Section and the Seller shall immediately be entitled to compensation from resell the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consentSection. The parties specifically agree that membership of the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller Association by the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that immediately cease on such cancellation but it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser of his/its indebtedness to the Association.
11.3 The Purchaser shall be liable for any costs, including attorney and own client costs, collection commission or tracing agent’s fees or loss of commission, incurred by the Seller or its agent arising out of or in connection with any breach by the Purchaser of any of the provisions of this Agreement or any other matter relating to this Agreement.
11.4 No indulgence granted by the Seller shall constitute an estoppel or a waiver of any of the Seller’s rights under this Agreement. Accordingly, the Seller shall not be precluded, as a consequence of having granted such indulgence, from exercising any and all other obligations arising from this Deed of Salerights against the Purchaser which may have arisen in the past or which may arise in the future.
Appears in 1 contract
Samples: Sale Agreement
Breach. 16.1 If one of 18.1 Should the Parties commits a breach Seller or the Purchaser, as the case may be ("the defaulting Party "):
18.1.1 fail to pay any amount due by the defaulting Party in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party on due date and remain in default for more than 7 (seven) days notice after being notified in writing to do so by the other Party ("the aggrieved Party ") ; or
18.1.2 commit any other breach of any of the provisions of this Agreement and fail to remedy such that breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the within a period of 7 (seven) day period may, at days after the election receipt of written notice to that effect by the other Party ( "the aggrieved Party ") and complete the remedying of such breach within a reasonable time ; or
18.1.3 commit a breach of any of the Aggrieved provisions of this Agreement at a time critical to the registration procedure and fail to remedy that breach within 48 hours after receipt of written notice to that effect by the other party ("the aggrieved Party"); then and in any of these events, the aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he aggrieved Party may have in law, including the right to claim damages:
16.1.1 18.1.4 to cancel this Agreement without any further notice and upon cancellation: -
a) if in the event of the Purchaser being the defaulting party is the Purchaser Party, the Seller shall be entitled to retain all amounts monies paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate Purchaser pending determination of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other its damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 18.1.5 to claim immediate performance and/or payment of all the obligations of the defaulting party's obligations Party in terms hereofof this Agreement, including immediate payment of the balance of the purchase price of the Subject Matter in the event of the Purchaser being the defaulting Party.
16.2 18.2 Should the Purchaser dispute the right of the Seller to cancel this Agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by it in terms of this Agreement on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller's claim for cancellation of this Agreement or any other rights of the Seller whatsoever.
18.3 Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property Unit forthwith and shall cease to procure that the Property shall be vacated by have any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required rights under this Deed of Sale, Agreement and the parties record and agree that the Agent Seller shall immediately be entitled to first deduct from any such money paid under this Deed of Sale, resell the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserSubject Matter.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Agreement of Sale
Breach. 16.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 : to cancel this Agreement and upon cancellation: -
a) - if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Deed of Sale
Breach. 16.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party aggrieved party shall be entitled to give the Defaulting Party defaulting party 7 (seven) days days’ notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party aggrieved party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEERAuctioneer’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Propertyproperty, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER Auctioneer shall be entitled, but not obliged, to immediately resubmit the Property property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property property and to procure that the Property property shall be vacated by any persons who occupy the Property property through the Purchaser’s title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Deed of Sale
Breach. 16.1 If one of the Parties Purchaser commits a breach of the terms of this Agreement or fails Agreement, all of which are deemed to comply with any of be material, and persists in such breach for more than 10 (ten) days after the provisions hereofSeller has given a written notice to the Purchaser requiring the Purchaser to remedy the breach, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be Seller is entitled, but not obliged, without prejudice to any other rights or remedies which available to the he may have in Seller at law, including the right to claim damages:—
16.1.1 to claim specific performance by way of immediate payment of the Deposit, the full Balance of the Purchase Price then unpaid, together with interest and/or the other monies then outstanding under this Agreement; or
16.1.2 cancel this Agreement and upon cancellation: -
a) if retain the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the PurchaserPurchaser to the Seller and/or the Conveyancer, excluding AUCTIONEER’s commissionincluding the Deposit, as rouwkoop or as a genuine pre-estimate plus the interest which has accrued on the Deposit in terms of damage suffered by the provisions of 4.4.
16.2 If this Agreement is cancelled before Transfer, then the Purchaser –
16.2.1 shall immediately vacate the Land and restore possession and occupation of the Land to the Seller, and furthermore the Purchaser shall not be entitled to compensation from has no claim against the Seller for any improvements of whatsoever nature it that the Purchaser may have caused on effected to the PropertyLand, whether with or without notwithstanding the Seller‘s consent. The parties specifically agree fact that the AUCTIONEER shall be entitled, but not obliged, Seller may have consented to immediately resubmit the Property for auctionpossession and/or occupation of the Land or to the erection of improvements; and
b) if 16.2.2 authorises and instructs the defaulting party Conveyancers to pay the Deposit together with the interest which has accrued on the Deposit whilst invested in the Account, referred to in 4.4 to the Seller.
16.3 The Purchaser is liable for and shall pay on demand the legal costs, on the attorney and client scale, incurred by the Seller in legal proceedings instituted by the Seller against the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of or arising from a breach of this Agreement.
16.4 If the Seller‘s default; or
16.1.2 Purchaser disputes the Seller’s right to claim immediate performance and/or terminate or cancel this Agreement, then, pending the finalisation of this dispute, the Purchaser is obliged to continue to effect payment of all the defaulting party's obligations monies payable by the Purchaser in terms hereof.
16.2 Upon cancellation of this Agreement on the due dates thereof and the Seller is entitled to recover and accept these payments without prejudice to the Seller’s rights.
17.1 The Parties choose as their domicilium citandi et executandi their respective addresses set out in this 17 for whatever reasonall purposes arising out of or in connection with this Agreement at which addresses all the processes and notices arising out of or in connection with this Agreement, its breach or termination may validly be served upon or delivered to the Parties.
17.2 For the purpose of this Agreement the Parties’ respective addresses shall be -
17.2.1 as regards the Seller at the address set out in Item 1.1 of the Transaction Schedule; and
17.2.2 as regards the Purchaser hereby undertakes to forthwith vacate at the Property and to procure that address set out in Item 1.2, as the Property case may be, of the Transaction Schedule, or at such other address in the Republic of South Africa, not being a post office box or poste restante, of which the party concerned may notify the others in writing.
17.3 Any notice given in terms of this Agreement shall be vacated in writing and shall if delivered by any persons who occupy -
17.3.1 hand be deemed to have been duly received by the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at addressee on the date of possessiondelivery;
17.3.2 recognised international courier service be deemed to have been received by the addressee on the 1st (first) Business Day following the date of such delivery by the courier service concerned; and
17.3.3 telefax or email be deemed to have been received by the addressee on the 1st (first) Business Day following the date of transmission of such telefax or email.
16.3 Occupancy of 17.4 Notwithstanding anything to the Property contrary herein contained a written notice or communication actually received by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent Party shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due an adequate written notice or communication to it under the sale does notwithstanding that it was not absolve the Purchaser from any and all other obligations arising from this Deed of Salesent to or delivered at its chosen domicilium citandi et executandi.
Appears in 1 contract
Samples: Sale Agreement
Breach. 16.1 If one 14.1 Each Seller shall be entitled to cancel this Agreement summarily by written notice to that effect given to the Purchaser if the Purchaser fails to pay the amounts of the Parties commits a purchase price payable by it to the Seller in question in terms of clause 6 and remains in default for 7 (seven) days after receiving written notice from that Seller to remedy the default.
14.2 Should the Purchaser commit any other breach of this Agreement, the Sellers shall not be entitled to cancel it before the Completion Date unless the breach is material and cannot be remedied adequately by the payment of damages and, being such a breach, it is not remedied or is not capable of being remedied by specific performance within a reasonable time after the Purchaser receives written notice to remedy the breach.
14.3 The Purchaser shall be entitled to cancel this Agreement or fails summarily by giving written notice to that effect to the Sellers if any of the Sellers fail to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party their obligations under clause 7 and remain in default for 7 (seven) days Business Days after receiving written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election default.
14.4 Should any of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to Sellers commit any other rights or remedies which the he may have in lawbreach of this Agreement, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation cancel it before the Completion Date unless the breach is material and cannot be remedied adequately by the payment of damages and, being such a breach, it is not remedied or is not capable of being remedied by specific performance within a reasonable time after the Seller in question receives written notice from the Seller for any improvements Purchaser to remedy the breach.
14.5 Notwithstanding anything to the contrary anywhere else in this Agreement, none of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser Parties shall be entitled to a full refund of all money paid in terms hereof to cancel this Agreement after the Seller and to the Agent and to claim Completion Date, for any breach by any other Party, but shall always be entitled to recover any damages from which it would otherwise be entitled to recover.
14.6 Notwithstanding that the Seller Purchaser has paid the Caledonia ZAR Component and the CMSA ZAR Component to Caledonia and CMSA respectively, in the event that it may have suffered as a result the Purchaser fails to pay any portion of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations outstanding purchase prices in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy respect of the Property by Caledonia’s Equity Interest or the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either CMSA Shares in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereinclause 6, should then each Seller shall, in addition to the Purchaser pay any amount as required under remedies available to it in terms of this Deed of Saleclause 14, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed unconditionally retain the amounts already received by it as either the Caledonia ZAR Component or CMSA ZAR Component (as the case may be), in terms of Salethe Agreement, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaseras a non-refundable break fee.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Breach. 16.1 If one of the Parties commits a Should Trial User breach of this Agreement or fails to comply with any of the provisions hereofconditions in this Agreement, then or commit any act of insolvency, or attempt to compromise any of its creditors, or allow any judgement against it to remain unsatisfied for seven days, or be subject to a provisional or final order to liquidation or judicial management, or in the Aggrieved Party shall case of Trial User being a natural person, his estate being provisionally or finally sequestrated, or surrendered, or do, or cause to be entitled to give the Defaulting Party 7 (seven) days notice in writing done anything which may prejudice Excel4apps’ rights under this Agreement, and fail to remedy such the breach or failure (unless such within 14 working days after receipt from Excel4apps of written notice calling upon Trial User to do so then Excel4apps by that breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but in addition to and without prejudice to any right Excel4apps may have as a result of the breach either to:
16.1.1 enforce the performance of the terms hereof;
16.1.2 cancel this Agreement and recover such damages as it may have sustained; or
16.1.3 retain any and all of Trial User's data, reports, information or similar created by using XX Xxxx, and/or to terminate Trial User’s Licences and to claim all outstanding fees, training charges, disbursements and all such damages which Excel4apps shall have sustained by reason of the failure of Trial User to carry out and fulfil its obligations hereunder.
16.2 Excel4apps’ remedies set out under clause 20.2 shall not obliged, be exhaustive and shall be in addition and without prejudice to any other remedies Excel4apps may have, whether for damages or otherwise.
16.3 Should Excel4apps breach any of the conditions in this Agreement, or commit any act of insolvency, or attempt to compromise any of its creditors, or allow any judgement against it to remain unsatisfied for seven days, or be subject to a provisional or final order to liquidation or judicial management, or in the case of Excel4apps being a natural person, his estate being provisionally or finally sequestrated, or surrendered, or do, or cause to be done anything which may prejudice Trial User’s rights or remedies which under this Agreement, and fail to remedy the he may have in lawbreach within 30 working days after receipt from Trial User of written notice calling upon Excel4apps to do so then Trial User by that breach shall only be entitled, including the right to claim damages:
16.1.1 exhaustively and singularly to cancel this Agreement agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, recover such Licence Fees and Maintenance Fees as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on sustained. For the Propertyavoidance of doubt, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party liability of Excel4apps is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof limited to the Seller aggregate amount of Licence Fees and Maintenance Fees paid by Trial User to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofExcel4apps.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Trial License Agreement
Breach. 16.1 If one 14.1 In the event of the Parties commits a breach either party failing to fulfil on due date his obligations in terms of any provision or provisions of this Agreement or fails and remaining in such default for 7 (SEVEN) calendar days of delivery of a written notice by the innocent party calling upon the guilty party to comply with any of the provisions hereofrectify such default, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice and in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationevent, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, have the right to:
14.1.1 Hold the guilty party to this Agreement and demand fulfilment of his/her obligations in terms thereof; or
14.1.2 Cancel this Agreement without prejudice to any other the innocent party's rights or remedies which the he may have in law, including the right to claim damagesall damages suffered as a result of such breach/default. If the cancellation was due to the Purchaser’s breach, the Seller shall be entitled to:
16.1.1 to cancel 14.1.2.1 Retain any amounts deposited with the Conveyancers under this Agreement (after payment of the commission due to the Agency and upon cancellation: deduction of wasted conveyancer’s costs) up to an amount equal to the reasonable damages suffered by the Seller as pre-
a) if the defaulting party is estimated, liquidated damages and the Purchaser hereby irrevocably authorizes the Conveyancers in this case to pay their wasted costs and estate agent’s commission from the amount held in trust and to pay the balance to the seller; or
14.1.2.2 claim all damages suffered by the Seller by reason of such breach/default, in which event the parties hereby agree that the Seller shall be entitled to retain all any amounts paid deposited with the Conveyancers under this Agreement (after payment of the commission due to the Agency and deduction of wasted conveyancer’s costs) in reduction of such damages sustained by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by Seller without prejudice to the Seller’s rights to claim the balance of such damages from the Purchaser. The Purchaser hereby irrevocably authorizes the Conveyancers in this case to pay their wasted costs and estate agent’s commission from the amount held in trust and to pay the balance to the seller.
14.2 Should this Agreement be cancelled in terms of clause 14.1.2 above, and furthermore the Purchaser shall not forthwith give up possession and vacate that Section and the Seller shall immediately be entitled to compensation from resell the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consentSection. The parties specifically agree that membership of the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller Palm Lakes HOA and Retirement Village HOA by the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that immediately cease on such cancellation but it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser of his/its indebtedness to the said associations.
14.3 The Purchaser shall be liable for any costs, including attorney and own client costs, collection commission or tracing agent’s fees or loss of commission, incurred by the Seller or its agent arising out of or in connection with any breach by the Purchaser of any of the provisions of this Agreement or any other matter relating to this Agreement.
14.4 No indulgence granted by the Seller shall constitute an estoppel or a waiver of any of the Seller’s rights under this Agreement. Accordingly, the Seller shall not be precluded, as a consequence of having granted such indulgence, from exercising any and all other obligations arising from this Deed of Salerights against the Purchaser which may have arisen in the past or which may arise in the future.
Appears in 1 contract
Samples: Offer to Purchase
Breach. 16.1 If one Notwithstanding any conflicting conditions contained herein, should either of the Parties commits a parties (the defaulting party) fail to pay any amounts due in terms of this Deed of Sale, on due date or commit any other breach of this Agreement or fails to comply with any of the provisions hereofconditions hereof and fail to pay such amounts or remedy such other breach within 7 (SEVEN) days after receipt of a notice requesting the defaulting party to do so, then the Aggrieved Party aggrieved party shall be entitled have the right:-
10.1 In the event of the aggrieved party being the PURCHASER :
10.1.1 to give the Defaulting Party 7 (seven) days cancel this agreement by giving notice in writing to remedy such breach or failure (unless such breach or failure occurs after the SELLER to this effect in which event the PURCHASER shall have the right to recover from the SELLER all damages suffered as a result of the SELLER"S default;
10.1.2 to treat the sale as binding and to demand immediate transfer documents of the property in his name and tender all amounts due and payable by him in terms of this Agreement;
10.2 In the event of the aggrieved party being the SELLER, to cancel this agreement by giving notice in writing to the PURCHASER to this effect in which event the SELLER shall have been lodged in the Deeds Office for registrationelection, to either retain all monies paid by the PURCHASER as well as
10.2.1 all improvements effected to the PROPERTY by him as agreed pre-estimated liquidated damages, in which case event the 7 (seven) day period mayPURCHASER agrees the amount so forfeited shall be regarded as fair, at the election reasonable and just assessment of the Aggrieved Party be reduced pre- estimated liquidated damages sustained by the SELLER; or
10.2.2 to 48 (forty eight) hours). If recover all damages suffered by the defaulting party fails to comply with SELLER arising from the PURCHASER'S breach of this Deed of Sale and until such notice then time as such damages have been determined, the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller SELLER shall be entitled to retain all amounts monies paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate PURCHASER on account of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.damages;
Appears in 1 contract
Samples: Deed of Sale
Breach. 16.1 If one of Should the Parties commits Purchaser commit a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled terms and conditions of this agreement and fail to give the Defaulting Party 7 rectify such breach within 10 (seventen) days reckoned from the date of receipt of a notice in writing handed or sent to remedy such breach the Purchaser by or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election on behalf of the Aggrieved Party be reduced to 48 (forty eight) hours). If Seller then, notwithstanding any previous indulgence on the defaulting party fails to comply with such notice then part of the innocent party shall forthwith be entitled, but not obliged, Seller and without prejudice to any other or further rights of the Seller in terms hereof or remedies which otherwise, the he may have in lawSeller shall be entitled, including the right to claim damageswithout further notice:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is agreement in which event the Purchaser shall, subject to the provisions of Clause 3.2.2 above, forfeit the right to claim restitution of anything performed by the Purchaser in terms hereof, and, in particular, shall forfeit any rights which the Purchaser may have in respect of the deposit and the interest accrued thereon which deposit and accrued interest, less an administration fee in respect of management and/or administration fees payable to the Conveyancers, shall, in this event, be paid by the Conveyancers to the Seller by way of a penalty or as liquidated damages or as a payment to the Seller in respect of the prejudice hereby agreed upon as will be suffered by the Seller as a result of the Purchaser's failure to comply with the Purchaser’s obligations hereunder;
16.1.2 to enforce performance by the Purchaser of the terms hereof and to claim payment from the Purchaser of the Balance of the Purchase Price and all other monies then owing by the Purchaser hereunder, which Balance and other monies shall then be claimable from and payable by the Purchaser immediately.
16.2 Should the Seller commit a breach of any of the terms and conditions of this agreement and fail to rectify such breach within 10 (ten) days reckoned from the date of receipt of a notice handed or sent to the Seller by or on behalf of the Purchaser then, notwithstanding any previous indulgence on the part of the Purchaser and without prejudice to any other or further rights of the Purchaser in terms hereof or otherwise, the Purchaser shall be entitled, without further notice:
16.2.1 to cancel this agreement and to recover from the Seller such damages as it may have suffered;
16.2.2 to enforce performance by the Seller of the terms hereof.
16.3 Should the Purchaser dispute the right of the Seller to cancel this agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by him in terms of this agreement on the due dates thereof and the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by recover and accept those payments without prejudice to the Seller, and furthermore the Purchaser shall not be entitled to compensation from ’s claim for cancellation of this agreement or any other rights of the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofwhatsoever.
16.2 16.4 Upon cancellation of this Agreement agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property unit and to procure that re-instate the Property shall be vacated by any persons who occupy unit to its original state of repair.
16.5 In the Property through event of the Seller instructing attorneys to enforce its rights or to compel the Purchaser’s title or by compliance with his permission. Occupation obligations in terms hereof the Purchaser shall be re- delivered liable for the legal costs incurred on a scale as between attorneys and own client together with VAT thereon.
16.6 Any amounts in arrears in terms of this agreement shall bear interest at the prime overdraft rate, from time to time, charged by Nedbank Limited, which interest shall be calculated monthly in advance from the date that such amount became due.
16.7 In the event of there being any delay in the same good condition as at the date of possession.
16.3 Occupancy of the Property by Transfer Date for which the Purchaser is responsible or persons on in the authority event of the Purchaser shall not create a tenancy either furnishing the guarantees and/or making payment of the Balance of the Purchase Price referred to in Clause 3.2 above timeously, then in such event, the Purchaser agrees, in addition to any other payment due in terms of any statutory provision or this agreement, to pay interest on the full Purchase Price at common law.
16.4 Notwithstanding what is contained hereinthe prime overdraft rate charged by Nedbank Limited from time to time, should calculated from the date the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction notified in writing by the Agent Conveyancers of commission due the breach in terms of Clause 16.1 above to it under the sale does not absolve date upon which the Purchaser from any and all other obligations arising from this Deed of Salehas rectified his breach, both days inclusive.
Appears in 1 contract
Samples: Offer to Purchase
Breach. 16.1 15.1. If one of the Parties commits a breach of either this Agreement or the Special Conditions of Online Sale to which this is apprehended to or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 15.1.1. to cancel this Agreement and upon cancellation: -
a) 15.1.1.1. if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEER’s AGENT’S commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent.
15.1.1.2. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller SELLER the Purchaser PURCHASER shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent SELLER and to claim any other damages from the Seller SELLER that it may have suffered as a result of the Seller‘s SELLER’s default; or;
16.1.2 15.1.2. to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 15.2. Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 15.3. Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 15.4. Notwithstanding what is contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed these Conditions of Sale, the parties record and agree that the Agent AGENT shall be entitled to first deduct from any such money paid under this Deed these Conditions of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 15.5. It is recorded further that the deduction by the Agent AGENT of commission due to it under the sale does not absolve the Purchaser PURCHASER from any and all other obligations arising from this Deed these Conditions of Sale.
Appears in 1 contract
Samples: Standard Conditions of Online Sale
Breach. 16.1 If one of 22.1 Should any party (the Parties commits "defaulting party") commit a breach of this Agreement or fails to comply with any of the provisions hereofof this agreement, then the Aggrieved Party party which is not in breach (the "aggrieved party') shall be entitled to give the Defaulting Party 7 (seven) days defaulting party written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)breach. If the defaulting party fails to comply with such that notice then within 7 (seven) days of receipt thereof, subject to any other provisions of this agreement to the innocent contrary, the aggrieved party shall forthwith be entitledentitled to cancel this agreement or to claim specific performance, but not obliged, in either event without prejudice to any other rights or remedies which the he may have in law, including the aggrieved party's right to claim damages:. The a foregoing is without prejudice to such other rights as the aggrieved party may have in terms of this agreement, common law or statute;
16.1.1 22.2 In the event of the Seller cancelling this agreement in terms of the provisions of clause 22.1, any amount or amounts paid to cancel this Agreement the Seller or the Conveyancers (including any amount paid in trust) shall be forfeited to and upon cancellation: -
a) retained by the Seller as “rouwkoop”; alternatively, if the defaulting party is Seller so elects, he may recover any damages howsoever incurred as a result of such cancellation (including any losses and expenses on a resale, whether by public auction or private treaty), in which case the amount or amounts paid to the Seller or the Conveyancers as aforesaid (including any amount paid in trust) will not be forfeited as “rouwkoop” but may be retained by the Seller by way of set off or partial set off against the damages claimed by the Seller;
22.3 Notwithstanding the a foregoing, should the Seller exercise any of his rights in terms hereof and should the Purchaser dispute the Seller's right to do so, then pending the determination of that dispute, the Purchaser shall continue to pay all amounts payable in terms of this agreement on the due date thereof and to comply with all the terms hereof, and the Seller shall be entitled to recover and accept such payments and/or other performance without prejudice to the Seller's claim to have exercised rights in terms hereof, and in the event of the Seller succeeding in such dispute, the Seller shall be entitled to retain all such amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered received in the same good condition interim as at payment for the date of possession.
16.3 Occupancy of the Property occupational rights exercised and/or enjoyed by the Purchaser or persons on in the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common lawinterim.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Sale of Property Agreement
Breach. 16.1 If one of the Parties either party hereto commits a material breach of this Agreement or fails to comply with In the observance of any of the provisions hereofterms and conditions hereof and fails to remedy such default or breach within 30 (THIRTY) days of delivery of written notice requiring It so to do, or, if such breach is not capable of being remedied within 30 (THIRTY) days, if the party in breach fails to commence remedying it within the said period and fails thereafter to remedy it within a reasonable period of time, then the Aggrieved Party aggrieved party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If cancel this agreement against the defaulting party fails or to comply with such notice then claim immediate payment and/or performance by the innocent defaulting party of all of the defaulting party’s obligations whether or not the due date for payment and/or performance shall forthwith be entitledhave arrived, but not obliged, In either event without prejudice to any other the aggrieved party’s rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 . The aforegoing is without prejudice to cancel such other rights as the aggrieved party may have at law; provided always that, notwithstanding anything to the contrary contained in this Agreement and upon cancellation: -
a) if agreement, the defaulting aggrieved party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller cancel this agreement, for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if breach by the defaulting party is the Seller the Purchaser shall be entitled to unless such breach Is a full refund of all money paid in terms hereof material breach going to the Seller root of this agreement and Is Incapable of being remedied by a payment in money, or if it is capable of being remedied by a payment in money, the defaulting party falls to pay the Agent and to claim any other damages from amount concerned within 30 (THIRTY) days after such amount has been determined. THUS DONE AND EXECUTED at JOHANNESBURG on the Seller that it may have suffered as a result ___________ day of ______200___ written in the presence of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofundersigned witnesses.
16.2 Upon cancellation 1. For and on behalf of
2. Name: ______________ Status: Director (who warrants his authority hereto) THUS DONE AND EXECUTED at JOHANNESBURG on the ___________ day of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered ______200___ written in the same good condition as at presence of the date of possessionundersigned witnesses.
16.3 Occupancy 1. For and on behalf of
2. Name: ______________ Status: Authorised representative (who warrants his authority hereto) ANNEXURE C Eastern Limb Assets Limpopo Locatie van M’Phatlele 457 KS New Order Prospecting Right LP 30/5/1/2/2/87 MR 11,725.00 Tameng Mining and Exploration (Pty) Ltd Beneficial Interest to Platmin 54.29% PGEs and associated minerals Rietfontein 70 JS(Pts11,15, 17, 18,19, 27, RE12, RE26, RE30) 100% Platmin SA Converted Old Order Prospecting Right and New Order Prospecting Right MP30/5/1/1/2/1019PR (now LP30/5/1 /1/2/1 /4/2906PR) and MP30/5/1/1/2/1653PR (now LP30/5/1/1/2//2927PR) 2,280.36 Platmin SA (Pty) Ltd All minerals Pts 21,22, RE20 100% shared 50/50 by Platmin SA and WPL Portion 23, Re of the Property Portion 1 75% shared 50/50 by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.Platmin SA and WPL Portion 13 50% shared 50/50 by Platmin SA and WPL De Wagendrift 79 JS (Pts 12, 13,14,15, Re1) 100% Platmin SA2 Converted Old Order Prospecting Right and New Order Prospecting Right MP30/5/1/1/2/1141PR (now LP30/5/1/1/2/2914PR) and MP30/5/1/2/1/2/2926PR (now LP30/5/1/1/2/2926PR) 856.53 All minerals Grootboom 336 KT Formerly: MP 30/5/1/1/2/281 MR Currently: LP 30/5/1/1/2/282 MR 1995,93 ha 23 Nov 2006 Platmin SA All minerals excluding chrome
16.4 Notwithstanding what is contained herein1. PARTIES 2 2. INTERPRETATION 2
3. INTRODUCTION 10 4. COMMENCEMENT, should the Purchaser pay any amount as required under this Deed of SaleDURATION AND SUSPENSIVE CONDITIONS 10 5. SALE AND PXXXXXXX 00 0. DELIVERY PLAN 15 7. DELIVERY OF CONCENTRATE 16 8. WEIGHING, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of SaleSAMPLING AND ASSAYING TO DETERMINE THE TRANSFER QUANTITY AND QUALITY 17 9. PRICE 23 10. PAYMENT 33 11. RISK AND OWNERSHIP 34 12. CONFIDENTIALITY 34 13. FORCE MAJEURE 36 14. DISPUTE RESOLUTION 37 15. NOTICES AND DOMICILIA 41 16. COSTS 43 17. GOVERNING LAW 44 18. SEVERABILITY OF PROVISIONS 44 19. GENERAL 44 20. CESSION, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.ASSIGNMENT, SUB-GRANTING, HYPOTHECATION, ALIENATION 45
Appears in 1 contract
Samples: Subscription Agreement (Sedibelo Platinum Mines LTD)
Breach. 16.1 If one of Should the Parties commits a breach of this Agreement or fails User fail to comply with any of its obligations arising from this contract, or commit any act of insolvency or die, or attempt to compromise with any of its creditors, or have made any incorrect or untrue statement in connection herewith, or do or cause to be done anything which may prejudice the provisions hereofHirer's right under this contract, then the Aggrieved Party shall be entitled or allow any judgment against it to give the Defaulting Party 7 remain unsatisfied for a period of fourteen (seven14) days notice in writing after it came to remedy such breach its notice, or failure (unless such breach be subject to business rescue, or failure occurs after should the transfer documents Goods be seized under a legal process issued against the User, the Hirer shall have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obligedright, without prejudice to any other rights or remedies right which the he it may have in at law, including the right to claim damages:
16.1.1 16.1 to cancel this Agreement contract without any prior notice, and upon cancellation: -
a) if to take possession of the defaulting party is the Purchaser the Seller shall be entitled to goods, retain all amounts paid by the PurchaserUser in which event, excluding AUCTIONEER’s commissionthe User shall pay to the Hirer on demand, as rouwkoop or as a genuine pre-estimate any arrear rentals due on the date of damage suffered cancellation, plus the expenses incurred by the SellerHirer set out herein plus liquidated damages, amount to the aggregate of all rentals which would, but before such termination, have bee n payable for the unexpired period of this contract less the market value of the Goods at the date of the return of the Goods to the Hirer or repossession thereof by the Hirer (the market value being the value as determined by a sworn appraiser appointed by the Hirer or at the Hirer's option, the higher of two offers for the Goods obtained by the Hirer from two persons, one of whom shall be a dealer in the particular type of Goods and such market value shall be binding on the User and Hirer for all purposes of this agreement);
16.2 or without terminating this contract, to treat as immediately due and payable all rentals which would otherwise have become d ue and payable in terms of this contract over the then unexpired period of this contract, and furthermore to claim and recover from the Purchaser User forthwith the aggregate amount of such rentals as well as all rentals and other sums then in arrears in terms of this contract. The Hirer s hall, pending payment of all those amounts, be entitled to be in possession of the Goods and to retain possession the reof until full payment by the User whereupon the Goods will be returned to the User and the User shall not be entitled to compensation from the Seller for any improvements rebate of whatsoever nature it may have caused on the Property, whether with rentals or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund other am ounts by reason of all money paid in terms hereof to the Seller its loss of possession and to the Agent and to claim any other damages from the Seller that it may have suffered as a result enjoyment of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment Goods while same had been in the Hirer's possession. This risk in the Goods shall, however, remain with the User during the period of all possession by the defaulting party's obligations Hirer in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Contract of Lease
Breach. 16.1 (a) If one Licensee materially breaches any of the Parties commits a breach its obligations hereunder (including, without limitation, Licensee’s obligations under Section 6 of this Agreement or fails Agreement) Licensor may deliver a written notice to comply with Licensee specifying the breach. Licensee will materially cure such breach within forty-five (45) days of its receipt of such notice, unless such breach cannot reasonably be cured within forty-five (45) days, in which event Licensee will, within such period, commence action to cure such breach and materially complete such cure within a reasonable time (not to exceed six months) thereafter.
(b) Licensor may deliver a written notice to Licensee requesting Licensee cease using any of the provisions hereof, then Licensed Marks in a manner that materially and seriously violates the Aggrieved Party shall be entitled to give restrictions imposed on Licensee’s use of the Defaulting Party 7 (seven) Licensed Marks. Licensor may terminate this Agreement if such use is not ceased with 45 days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationuse is not reasonably capable of being ceased within 45 days, in which case event Licensor may terminate this Agreement if such use has not ceased within a reasonable period of time thereafter.
(c) The parties will attempt in good faith to resolve any dispute arising out of or relating to this Agreement promptly by negotiation between executives who have authority to stale the 7 (seven) day period may, controversy and who are at a higher level of management than the election persons with direct responsibility for administration of this Agreement. Either party may give the other party written notice of any dispute not resolved in the normal course of business. Within 15 days after delivery of the Aggrieved Party be reduced notice, the receiving party will submit to 48 the other a written response. The notice and the response will include (forty eighta) hours). If a statement of each party’s position and a summary of arguments supporting that position, and (b) the defaulting name and title of the executive who will represent that party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to and of any other rights or remedies which person who will accompany the he may have in lawexecutive. Within 30 days after delivery of the disputing party’s notice, including the right to claim damages:
16.1.1 to cancel this Agreement executives of both parties will meet at a mutually acceptable time and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Sellerplace, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obligedthereafter as often as they reasonably deem necessary, to immediately resubmit attempt to resolve the Property dispute. All reasonable requests for auction; and
b) if the defaulting information made by one party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller other will be honored. All negotiations pursuant to this clause are confidential and will be treated as compromise and settlement negotiations for purposes of applicable rules of evidence. Notwithstanding any other language to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Salecontrary, the parties record and agree that must complete the Agent shall be entitled foregoing procedures prior to first deduct from any such money paid delivering a notice under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserSection 10(a) or 10(b).
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Trademark License Agreement (Time Warner Telecom Inc)
Breach. 16.1 If one 18.1 Should the Purchaser fail to fulfill on due date any of the Parties commits a breach terms and conditions of this Agreement, including failure to provide the guarantee/s required in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party and remain in default for 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office deeds office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party Seller be reduced to 48 (forty eight) hourshours after dispatch of a written notice requiring payment and/or delivery of the guarantee/s and/or requiring such breach to be remedied). If , the defaulting party fails to comply with such notice then the innocent party Seller shall forthwith be entitled, but not obliged, without prejudice to any other rights of the Seller in law or remedies which the he may have in lawterms of this Agreement, including the right to claim damageseither:
16.1.1 18.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser in which event the Seller shall be entitled to obtain immediate repossession of the Unit and to claim forfeiture of and retain on account of damages all amounts monies paid by the PurchaserPurchaser to the Seller or to the Seller’s Attorneys on account of the purchase price, excluding AUCTIONEER’s commissioncosts or otherwise in terms of and pursuant to this Agreement; or
18.1.2 to require the Purchaser to fulfill all obligations hereunder.
18.2 If the Seller institutes legal proceedings against the Purchaser for payment of any amount and/or performance of any obligation due by the Purchaser in terms hereof, as rouwkoop or as a genuine pre-estimate of damage suffered the Purchaser shall pay all costs incurred by the Seller, including, but not by way of limitation, the costs of any letter of demand, all collection charges and furthermore costs on Attorney and own client scale.
18.3 If the Purchaser disputes the Seller’s right to cancel and/or remains in occupation of the Unit after date of cancellation the Purchaser shall continue to pay interest and levies as herein provided in consideration for continuing to occupy the Unit. Notwithstanding the aforegoing the above occupancy shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered regarded as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create creating a tenancy either in terms of any a statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Deed of Sale
Breach. 16.1 14.1 If one of the Parties either party commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party aggrieved party shall be entitled to give the Defaulting Party defaulting party 7 (seven) days days’ notice in writing to remedy such breach or failure (failure, unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party aggrieved party, be reduced to 48 (forty eight) hours). .
14.2 If the defaulting party fails to comply with such notice then the innocent aggrieved party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he aggrieved party may have in law, including the right to claim damages:
16.1.1 , to cancel this Agreement and upon Agreement.
14.3 Upon cancellation: -
a) , if the defaulting party is the Purchaser PURCHASER, the Seller SELLER shall retain the right to recover any costs incurred by the SELLER to present the PROPERTY for sale and any further costs to be incurred by the SELLER to re-sell the PROPERTY, as well as any difference between the purchase price and the price achieved at any subsequent sale of the PROPERTY by the SELLER.
14.4 If the defaulting party is the PURCHASER, all amounts held by VARTRUST and /or the SELLER’s Attorneys shall continue to be retained by them in trust until the actual amount of damages has been determined by a Court and thereupon the SELLER shall be entitled to retain all set-off such damages against the amounts paid by the Purchaserso retained.
14.5 Upon cancellation, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller SELLER, the Purchaser PURCHASER shall be entitled to a full refund of all money monies paid in terms hereof to the Seller SELLER and to the Agent VARTRUST, and to claim any other damages from the Seller SELLER that it he may have suffered as a result of the Seller‘s SELLER’s default; or;
16.1.2 to 14.6 Alternatively, instead of claiming cancellation of the Agreement, the aggrieved party may claim immediate performance and/or and / or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of 14.7 If this Agreement is cancelled for whatever reason, the Purchaser PURCHASER hereby undertakes forthwith to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation The PROPERTY shall be re- delivered returned to the SELLER in the same good condition as at the date of possessionoccupation.
16.3 14.8 Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 14.9 Notwithstanding what is anything else to the contrary contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed of SaleAgreement, the parties record and agree that the Agent VARTRUST shall be entitled first to first deduct from any such money monies paid under this Deed of SaleAgreement, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Offer to Purchase
Breach. 16.1 If one Should either Party breach any of his obligations under this Agreement (which for the Purchaser shall include the signature of any documentation relating to the passing of transfer or the payment of any amount due under this agreement or the delivery of the Parties commits guarantee referred to in Paragraph 1.3) and remain in breach thereof after expiry of a breach period of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (sevenSEVEN) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after breach, the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent other party shall forthwith be entitled, but not obligedhave the right, without prejudice to any other rights to which he may be entitled to in law, or remedies under this Agreement namely:
11.1 To hold the defaulting party bound to this Agreement, to enforce performance of the obligations of the defaulting party hereunder and should the defaulting party be the purchaser to claim immediate payment of all amounts payable by the Purchaser under this Agreement, including payment of the full balance of the purchase price outstanding with any interest accruing thereon, costs and other charges; OR
11.2 To cancel this Agreement forthwith and hold the defaulting party liable for all damages.
11.3 Should the defaulting party be the purchaser the seller may retake possession of the property and the Purchaser hereby waives any lien which the he may have over the property for improvements; and the seller to retain all payments made up to the time of the cancellation by the Purchaser to the Seller / his agent and or Conveyancer as being the amount which the parties record will be the prejudice suffered by the Seller, regard being had to his proprietary and other interest in lawthis sale, including which will be prejudiced by the right aforesaid breach; or
11.4 for the seller to claim damages:
16.1.1 damages in lieu of sub-clause 11.3 above in which event he shall not be obliged to cancel this Agreement and upon cancellation: -
a) if the defaulting party is return to the Purchaser such amounts as have already been paid by the Seller Purchaser, but shall be entitled to retain all such amounts, together with interest accruing thereon, pending the determination of the amount of such damages and upon such determination in favour of the Seller such amounts shall be deemed to have been paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate Purchaser on account of damage the damages suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree .
11.5 It is further recorded that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if should the defaulting party is be the Seller purchaser the Purchaser full commission shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the deemed earned on date of possessioncancelation and the purchaser accepts full responsibility for payment thereof and the agent shall have no claim against the seller in respect of such commission.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Agreement of Sale
Breach. 16.1 If one 24.1 In the event of either of the Parties commits hereto (“the Defaulting Party”) committing a breach of this Agreement or fails to comply with any of the provisions hereofof this Agreement, then the Party not in default (“the Aggrieved Party Party”) shall be entitled to give the Defaulting Party 7 (seven) days written notice in writing to remedy such breach or failure (unless such breach or failure occurs after breach. Should the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Defaulting Party be reduced to 48 (forty eight) hours). If the defaulting party fails fail to comply with such notice then notice, the innocent party Aggrieved Party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he that it may have in law, including the right at its option either to claim damages:-
16.1.1 to 24.1.1 cancel this Agreement and upon cancellation: -claim damages or to claim immediate payment and/or;
a) if 24.1.2 claim immediate performance by the defaulting party Defaulting Party of all the Defaulting Party’s obligations and claim damages.
24.2 In any such event and on condition that the Defaulting Party is the Purchaser the Seller shall be entitled to retain all Purchaser, any amounts paid by the Purchaser, excluding AUCTIONEER’s commission, Purchaser shall accrue to the Seller as rouwkoop or as a genuine pre-estimate damages without prejudice to the right of damage suffered by such the Seller, and furthermore the Purchaser shall not be entitled ’s to compensation from the Seller for any improvements of whatsoever nature claim further damages or to such other remedies as it may have caused by law. INITIAL __
24.3 Should the Aggrieved Party instruct its attorneys to take any steps against the Defaulting Party to enforce any of the Aggrieved Party’s rights in terms of this Agreement or to claim payment of any monies payable in terms of this Agreement, the Defaulting Party shall be liable for payment of all tracing fees, collection fees and other legal costs on the Property, whether with or without scale of attorney and own client.
25.1 If the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit Purchaser purchases the Property for auction; and
b) if as representative of a third party and fails to disclose the defaulting party is the Seller the Purchaser shall be entitled to a full refund name of all money paid in terms hereof his principal and furnish written proof of his mandate to the Seller and to on the Agent and to claim any other damages from Signature Date and/or the Seller is not supplied with proof to its satisfaction that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of representative’s principal has ratified this Agreement on the Signature Date, the representative will be personally liable for all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision this Agreement, and the Agreement will be regarded as having been entered into in the personal capacity of the person who signed this Agreement as Purchaser or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed on behalf of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further 25.2 Should this Agreement be signed by a person entering into this Agreement as trustee or agent for a company to be incorporated as the Purchaser in terms hereof -
25.2.1 such company shall be duly incorporated within 30 (thirty) days of signature hereof by the Purchaser;
25.2.2 such company shall duly adopt, ratify and render itself bound by this Agreement within 5 (five) days after the date of incorporation of the company;
25.2.3 the provisions of the Companies Act applicable to pre-incorporation contracts, must be duly and properly complied with; and
25.2.4 the person so signing this Agreement shall be deemed to have entered into this Agreement as Purchaser in his personal capacity should the provisions of clause 25.2.1 to 25.2.3 above not be complied with strictly in accordance with applicable legislative provisions concerning incorporation and pre-incorporation contracts.
25.3 The person signing this Agreement on behalf of any company or company to be formed, close corporation or trust, as aforesaid, shall be liable, jointly and severally, with the Purchaser to the Seller as surety and co-principal debtor for all the obligations of the Purchaser to the Seller arising out of or in connection with this Agreement and, provided that the deduction by the Agent of commission due to it under the sale CPA does not absolve apply to this Agreement, renounces the Purchaser from any benefits of excussion and all other obligations arising from this Deed of Saledivision.
Appears in 1 contract
Samples: Sale of Immovable Property Agreement
Breach. 16.1 14.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 14.1.1 to cancel this Agreement and upon cancellation: -
a) 14.1.1.1 if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEERAGENT’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) 14.1.1.2 if the defaulting party is the Seller SELLER the Purchaser PURCHASER shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent SELLER and to claim any other damages from the Seller SELLER that it may have suffered as a result of the Seller‘s SELLER’s default; or;
16.1.2 14.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 14.2 Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 14.3 Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 14.4 Notwithstanding what is contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed of Sale, the parties record and agree that the Agent AGENT shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 14.5 It is recorded further that the deduction by the Agent AGENT of commission due to it under the sale does not absolve the Purchaser PURCHASER from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Offer to Purchase by Tender
Breach. 16.1 If one of Should the Parties commits a breach Seller or the Purchaser, as the case may be (“the defaulting party”):
20.1 fail to pay any amount due by the defaulting party in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party agreement on due date and remain in default for more than 7 (seven) days notice after being notified in writing to remedy such do so by the other party (“the aggrieved party”); or
20.2 commit any other breach or failure (unless such of any of the provisions of this agreement and fail to commence remedying that breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the within a period of 7 (seven) day period maydays after the receipt of written notice to that effect by the other party (“the aggrieved party”) and complete the remedying of such breach within a reasonable time; then and in either such event, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent aggrieved party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he aggrieved party may have in law, including the right to claim damages:
16.1.1 20.2.1 to cancel this Agreement agreement upon written notice and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage claim damages suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting aggrieved party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultdefaulting party’s breach and, in the case of the Purchaser being the defaulting party, forfeit all monies paid to the Seller, or its attorneys or agent/s in terms of this agreement; or
16.1.2 20.2.2 to claim immediate performance and/or payment of all the obligations of the defaulting party's obligations party in terms hereofof this agreement.
16.2 20.3 Should the Purchaser dispute the right of the Seller to cancel this agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by it in terms of this agreement on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller’ claim for cancellation of this agreement or any other rights of the Seller whatsoever.
20.4 Upon cancellation of this Agreement agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to vacate forthwith the unit and all exclusive use areas.
20.5 The defaulting party agrees that, in the event of the agrieved party instructing its attorneys and/or taking legal proceedings against the defaulting party pursuant to a failure by the defaulting party to fulfil any of its obligations in terms of this Agreement, then the defaulting party shall pay all legal costs, legal fees, wasted costs of transfer, plus VAT, incurred by the agrieved party in connection therewith as between attorney and own client, including collection commission laid down at the tariff rate applicable. In such event of the Purchaser being the defaulting party, he irrevocably authorises the Conveyancers to deduct the amounts so owing from the deposit and interest in so far as that covers the amount due.
20.6 The defaulting party shall be liable to pay all legal costs incurred by the aggrieved party on the scale between attorney and own client, including tracing agent’s fees and collection commission.
20.7 If this Agreement is cancelled as hereinbefore provided, the Purchaser and all persons claiming a right of occupation through the Purchaser shall forthwith be obliged to vacate the Property Unit and to procure deliver it to the Seller. It is specifically recorded in this regard that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title no lease or by his permission. Occupation shall be re- delivered other similar right of occupation in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority favour of the Purchaser shall not create a tenancy either in terms be created or come into existence by virtue of any statutory provision or at common lawthis Agreement.
16.4 Notwithstanding what is contained herein, should 20.8 In the Purchaser pay any amount event of the Agreement being cancelled as required under this Deed of Salecontemplated above, the parties record and agree that the Agent Seller shall be entitled to first deduct from any such money paid under this Deed immediate possession and occupation of Sale, the value of its commission Unit and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed improvements made to the Unit shall belong to and vest in the Seller, without any obligation on the part of Salethe Seller to compensate the Purchaser therefore.
Appears in 1 contract
Samples: Sale Agreement
Breach. 16.1 11.1 If one of the Parties either party commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party aggrieved party shall be entitled to give the Defaulting Party defaulting party 7 (seven) days days’ notice in writing to remedy such breach or failure (failure, unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party aggrieved party, be reduced to 48 (forty eight) hours). .
11.2 If the defaulting party fails to comply with such notice then the innocent aggrieved party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he aggrieved party may have in law, including the right to claim damages:
16.1.1 , to cancel this Agreement and upon Agreement.
11.3 Upon cancellation: -
a) , if the defaulting party is the Purchaser PURCHASER, the Seller SELLER shall retain the right to recover any costs incurred by the SELLER to present the PROPERTY for sale and any further costs to be incurred by the SELLER to re-sell the PROPERTY, as well as any difference between the purchase price and the price achieved at any subsequent sale of the PROPERTY by the SELLER.
11.4 If the defaulting party is the PURCHASER, all amounts held by VARTRUST and /or the SELLER’s Attorneys shall continue to be retained by them in trust until the actual amount of damages has been determined by a Court and thereupon the SELLER shall be entitled to retain all set-off such damages against the amounts paid by the Purchaserso retained.
11.5 Upon cancellation, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller SELLER, the Purchaser PURCHASER shall be entitled to a full refund of all money monies paid in terms hereof to the Seller SELLER and to the Agent VARTRUST, and to claim any other damages from the Seller SELLER that it he may have suffered as a result of the Seller‘s SELLER’s default; or;
16.1.2 to 11.6 Alternatively, instead of claiming cancellation of the Agreement, the aggrieved party may claim immediate performance and/or and / or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of 11.7 If this Agreement is cancelled for whatever reason, the Purchaser PURCHASER hereby undertakes forthwith to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation The PROPERTY shall be re- delivered returned to the SELLER in the same good condition as at the date of possessionoccupation.
16.3 11.8 Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 11.9 Notwithstanding what is anything else to the contrary contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed of SaleAgreement, the parties record and agree that the Agent VARTRUST shall be entitled first to first deduct from any such money monies paid under this Deed of SaleAgreement, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Offer to Purchase
Breach. 16.1 11.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days days’ notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 11.1.1 to cancel this Agreement and upon cancellation: -
a) 11.1.2 if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEERAUCTION HOUSE’s commission, as rouwkoop roukoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER AUCTION HOUSE shall be entitled, but not obliged, to immediately resubmit the Property PROPERTY for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 11.1.3 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 11.2 Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 . Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Offer to Purchase
Breach. 16.1 26.1 If one of the Parties any Party commits a breach of this Agreement or fails to comply with any of the provisions hereofof this Agreement and fails to remedy such breach, then the Aggrieved Party shall be entitled to give the Defaulting Party within 7 (seven) days after receipt of written notice in writing from the other Party calling upon it to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationbreach, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party Party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damagesterms of this Agreement and/or at law to:
16.1.1 to 26.1.1 cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, claim such damages as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if sustained from the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultParty; or
16.1.2 to 26.1.2 claim immediate performance and/or payment by the defaulting Party of all the defaulting party's its obligations in terms hereofof this Agreement whether or not the due date for performance shall otherwise have arrived.
16.2 26.2 The Seller may retain any cash payments made by the Purchaser prior to cancellation as liquidated damages, without prejudice to any other rights that the Seller may have.
26.3 Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property forthwith, and to procure that the Property shall be vacated by any persons who occupy the Property it through the Purchaser’s 's title or by his permission. Occupation The Property shall be re- re-delivered in the same good order and condition as at the date of possessionOccupation Date.
16.3 Occupancy 26.4 The defaulting Party shall pay all legal and other costs, including costs on the attorney and client scale, incurred by the innocent Party in successfully enforcing the provisions of the Property this Agreement.
26.5 It is specifically recorded that should any breach by the Purchaser or persons on occur at a time critical to the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Saleregistration procedure, the parties record and agree that the Agent Seller shall be entitled to first deduct from require the Purchaser to remedy such breach within a period of 24 (twenty four) hours, and not within the 7 (seven) days period provided for in Clause 26.1
26.6 Where the Seller is entitled to retain any such money paid under this Deed cash payments in terms of SaleClause 26.2, the value of Transferring Attorneys is hereby authorized to pay such amounts to the Seller on its commission and any direct costs incurred and recover any shortfall thereon from the Purchaserwritten request.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve 26.7 Should the Purchaser from dispute the Seller's right to cancel this Agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by him in terms of this Agreement, which will include Levies and interest on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller's claim for cancellation of this Agreement or any and all other obligations arising from rights of the Seller whatsoever. Failure to pay any of the aforesaid amounts will constitute a material breach of this Deed of SaleAgreement.
Appears in 1 contract
Samples: Agreement of Sale
Breach. 16.1 (a) If one Buyer shall default in the observance or performance of Buyer's obligations under this Agreement and the Closing does not occur as a result thereof (a "Buyer Default"), Seller's sole and exclusive remedy shall be to retain the Xxxxxxx Money, and any interest earned thereon, as liquidated damages for such Buyer Default. Upon payment of the Parties commits a breach Xxxxxxx Money and any interest earned thereon to Seller, this Agreement shall be terminated and the parties shall be released from further liability to each other hereunder, except for those obligations and liabilities that are expressly stated to survive termination of this Agreement or fails to comply with Agreement. XXXXXX AND BUYER AGREE THAT IT WOULD BE IMPRACTICAL AND EXTREMELY DIFFICULT TO ESTIMATE THE DAMAGES THAT SELLER MAY SUFFER UPON A BUYER DEFAULT AND THAT THE XXXXXXX XXXXX AND ANY INTEREST EARNED XXXXXXX, AS THE CASE MAY BE, REPRESENTS A REASONABLE ESTIMATE OF THE TOTAL NET DETRIMENT THAT SELLER WOULD SUFFER UPON A BUYER DEFAULT. SUCH LIQUIDATED AND AGREED DAMAGES ARE NOT INTENDED AS A FORFEITURE OR A PENALTY WITHIN THE MEANING OF APPLICABLE LAW.
(b) If Seller shall default in the performance of any of Seller's obligations to be performed under this Agreement and the provisions Closing does not occur as a result thereof (a "Seller Default"), Buyer's sole and exclusive remedy shall be to either: (i) terminate this Agreement by delivery of written notice to Seller and the Title Company, and the Title Company or Seller, as applicable, shall return the Xxxxxxx Money to Buyer, with the interest earned thereon, if any, whereupon this Agreement shall terminate and neither party shall have any further rights or obligations with respect to each other or this Agreement, except those that are expressly provided in this Agreement to survive the termination hereof; or (ii) continue this Agreement and seek specific performance of Seller's obligations hereunder, and if Buyer prevails thereunder, Seller shall reimburse Buyer for all reasonable legal fees, court costs, and all other reasonable costs of such action. Notwithstanding the foregoing, if Seller shall willfully default in its obligation to close the transaction hereunder on the Closing Date and specific performance shall not be a legally available remedy to Buyer as a result thereof, then Buyer shall: (x) have the Aggrieved Party shall right to receive a return of the Xxxxxxx Money; and (y) be entitled to give (and Seller shall reimburse Buyer for), which reimbursement obligation shall survive the Defaulting Party 7 termination of this Agreement, reimbursement for the expenses, if any, actually incurred by Xxxxx for: (seven1) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationtitle examination, in which case the 7 (seven) day period maysurvey, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in lawand municipal searches, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result issuance of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission Title Commitment and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent continuation thereof, without issuance of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.a title insurance policy;
Appears in 1 contract
Samples: Sale and Purchase Agreement
Breach. 16.1 13.1. If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days days’ notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice notice, then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 13.1.1. to cancel this Agreement and upon cancellation: -
a) 13.1.1.1.1. if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property PROPERTY for auction; and
b) 13.1.1.1.2. if the defaulting party is the Seller SELLER the Purchaser PURCHASER shall be entitled to a full refund of all money paid in terms hereof to the Seller SELLER and to the Agent AUCTIONEER and to claim any other damages from the Seller SELLER that it may have suffered as a result of the Seller‘s SELLER’s default; or;
16.1.2 13.1.1.1.3. to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 13.2. Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 13.3. Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 13.4. Notwithstanding what is contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed these Rules of SaleAuction, the parties record and agree that the Agent AUCTIONEER shall be entitled to first deduct from any such money paid under this Deed these Rules of SaleAuction, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 13.5. It is recorded further that the deduction by the Agent AUCTIONEER of commission due to it under the sale does not absolve the Purchaser PURCHASER from any and all other obligations arising from this Deed these Rules of SaleAuction.
Appears in 1 contract
Samples: Auction Agreement
Breach. 16.1 If one 11.1 In the event that the Subscriber breaches any term of this Agreement, or any warranty given by him hereunder, or fails to fulfill any obligation resting upon him, including a failure to pay any amount owing to MicroTeq on due date, then without prejudice to MicroTeq ‘s rights, MicroTeq may forthwith and without notice to the Subscriber, either terminate this Agreement, or call for specific performance of all the Subscriber’s obligations and immediate payment of all sums of money owing by the Subscriber, whether or not then due, in either event without prejudice to MicroTeq’s right to seek such damages as it may have suffered by reason of such breach or failure. Notwithstanding the a foregoing, and pending MicroTeq’s election in terms of this clause, MicroTeq shall not be obliged to perform any of its obligations under this Agreement and the Subscriber shall remain liable for the payment of all amounts owing by the Subscriber in terms of this Agreement, whether or not such amounts are then due.
11.2 MicroTeq shall be entitled forthwith without notice, to terminate this Agreement in the event that the Subscriber is sequestrated, liquidated, or placed under judicial management, whether provisionally or finally, and whether voluntarily or compulsory.
11.3 Without detracting from any of the Parties commits a breach other provisions of this Clause 11, in the event of the Subscriber breaching of any provisions of this Agreement or fails the Subscriber prematurely terminating this Agreement and MicroTeq electing to cancel same, the Subscriber shall be liable to effect payment to MicroTeq of all the Monthly Charges which would have been payable to MicroTeq in respect of the remainder of the Initial Period or Renewal Period (whichever is applicable) of this Agreement.
11.4 Upon termination of this agreement due to breach, the terminal equipment, SIM Card and Software shall be repossessed from the Subscriber. In addition, the Subscriber will be held liable for any other damages or expenses incurred. Applicable to AmiCell 500, AmiCell 1500, AmiCell 3000.
12.1 The Subscriber shall insure the goods for the duration of this agreement with a registered insurer on a comprehensive basis for the replacement value (R2500.00) plus VAT under an insurance policy. The Subscriber shall ensure that MicroTeq’s interests are endorsed on the said policy/ies and shall at all times comply with any all the terms and conditions of such policy/ies. The Subscriber hereby cedes to MicroTeq as security for its obligations under this agreement all its rights, title and interest in and to said policy/ies. In the event of the provisions hereof, then Subscriber failing to furnish MicroTeq with proof of such insurance or in the Aggrieved Party event of the policy/ies becoming of no force or effect for any reason what so ever MicroTeq shall be entitled but not obliged to give insure the Defaulting Party 7 (seven) days notice goods and to reclaim the amount of such premiums from the Subscriber upon demand.
12.2 The Subscriber shall notify MicroTeq immediately in writing if the goods or any part thereof are lost or stolen or damaged and shall do all that is necessary for such submissions of a claim to remedy the insurers.
12.3 If any goods supplied to the Subscriber in terms of this agreement are lost, stolen or damaged beyond repair without such breach or failure (unless goods being insured in terms of clause 12.1, MicroTeq may elect to replace such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, goods in which case event this agreement shall apply mutates mutandis to such replacement of goods.
12.4 Upon loss of any goods in terms of 12.3 the 7 (seven) day period maySubscriber shall continue to pay to MicroTeq all charges which would have fallen due in terms of this agreement , at the election together with any/all other amounts due, including replacement of goods.
12.5 The Subscriber is hereby given notice of its right of free choice in connection with its insurance obligations under clause 12 in terms of section 43 of the Aggrieved Party be reduced to 48 (forty eight) hours)Short Term Insurance Act, 53 of 1998. If The Subscriber represent and warrants that it has read, understood and is fully acquainted with the defaulting party fails to comply with such notice then aforesaid provision. By signing this agreement, the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damagesSubscriber acknowledges that:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate 12.5.1 It has exercised his freedom of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auctionchoice; and
b) if the defaulting party is the Seller the Purchaser shall be entitled 12.5.2 It was not subject to a full refund of all money paid in terms hereof any coercion or inducement as to the Seller and to the Agent and to claim any other damages from the Seller manner in which it exercised that it may have suffered as a result freedom of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereofchoice.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Subscription Agreement
Breach. 16.1 15.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)failure. If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he may have in law, including the right to claim damages:
16.1.1 15.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 15.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 15.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate return the Property and including all movable assets to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possessionSeller within 14 (fourteen) days from this agreement being candled.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 15.3 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 15.4 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Deed of Sale
Breach. 16.1 If one 17.1 Without prejudice to any other rights of the Parties commits a breach Landlord, the Landlord is entitled to cancel this lease immediately should the Tenant:
17.1.1 fail to make payment in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party lease on due date and remain in default for 7 (seven) days notice in writing after receiving written notices from the Landlord to make payment;
17.1.2 commits any other breach of this lease and fails to remedy such the breach within 14 (fourteen) days after receiving writ- ten notice from the Landlord to do so;
17.2 Should the Tenant fail to make payment any third party as required by this lease or failure (unless such breach or failure occurs after the transfer documents have been lodged fail to perform any other obliga- tion due in the Deeds Office terms of this lease and remain in default for registration, in which case the 7 (seven) day period maydays after receiving written notice from the Landlord to remedy the default, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, Landlord may without prejudice to its rights, make the payment or carry out the obligation and recover the amount paid or the cost of carrying out the obligation (as the case may be) from the Tenant on demand;
17.3 Should the Landlord institute any other rights action against the Tenant for relief arising out of the Tenant committing a breach or remedies which default of any of his / her obligations under this lease, the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller Landlord shall be entitled to retain claim any legal costs incurred on the scale as between Attorney and Own Client.
17.4 Should the Landlord cancel this lease and the Tenant disputes the Landlord’s right to do so, remain in occupation of the property, then, pending the determination of the dispute:
17.4.1 the Tenant shall continue to make all payments in terms of this lease on due date;
17.4.2 the Landlord’s acceptance of those payments will not in any manner affect its right to cancel this lease or any other remedy it may have;
17.4.3 Should the dispute between the Landlord and the Tenant be determined in favour of the Landlord, the payments made in terms of 17.4.2 will be regarded as amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate Tenant on account of damage suffered the loss sustained by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered Landlord as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy holding over of the Property property, by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.Tenant;
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall 17.4.4 The Landlord will be entitled to first deduct from cancel this lease by written notice to the Tenant if the Tenant commits any such money paid under breach of this Deed of Sale, the value of its commission lease and any direct costs incurred and recover any shortfall thereon fails to remedy same within 14 (fourteen) days after receiving written notice from the PurchaserLandlord to do so.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Lease Agreement
Breach. 16.1 11.1 If one of the Parties commits either party breaches a breach term of this Agreement or and fails to comply with any remedy that breach within 14 (fourteen) days of receipt of written notice from the provisions hereofother party calling for the breach to be remedied, then the Aggrieved Party that party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights that it may have, whether under this Agreement or remedies which the he may have in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaserwithout notice, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate specific performance and/or payment of all the defaulting party's obligations obligations, whether or not due for performance, in terms hereofeither event without prejudice to the aggrieved party’s right to claimdamages.
16.2 Upon cancellation 11.2 In addition to what is stated in 11.1 above if the Customer:
11.2.1 commits any act of this Agreement insolvency;
11.2.2 endeavours to compromise generallywithitscreditors or does or causes anything to be done which may prejudice Nimbous Telecom’s rights hereunder or at all;
11.2.3 allows any judgement against it to remain unsettled for whatever reasonmore than 10 (ten) days without taking immediatesteps to have it rescinded and successfully prosecuting the application for rescission to its final end; or
11.2.4 is placed in liquidation or business rescue (in either case, whether provisionally or finally) or, being an individual, his estate is sequestrated or voluntarily surrendered; Nimbous Telecom shall have the Purchaser hereby undertakes right, without prejudice to forthwith vacate any other right, which it may have against Customer, to:
11.2.5 terminate the Property Services and cancel the Agreement; and
11.2.6 treat as immediatelydueandpayable all outstanding amounts, as well as allfuture amounts which would otherwise become due and payable over the unexpired period of the Agreement, and to procure that the Property claim such amounts including interest on arrear amounts and to cease performance of its obligations hereunder; in any event without prejudice to Nimbous Telecom’s right to claim damages.
11.3 The Customer shall be vacated liable for all costs incurred by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered Nimbous Telecom in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms recovery of any statutory provision amounts or at common lawthe enforcement of any rights which it has hereunder, including collection charges and costs on an attorney and own client scale whether incurred prior to or during the institution of legal proceedings or if judgement has been granted, in connection with the satisfaction or enforcement of such judgement.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Standard Terms and Conditions
Breach. 16.1 If one of 22.1 Should any party (the Parties commits "defaulting party") commit a breach of this Agreement or fails to comply with any of the provisions hereofof this agreement, then the Aggrieved Party party which is not in breach (the "aggrieved party') shall be entitled to give the Defaulting Party 7 (seven) days defaulting party written notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours)breach. If the defaulting party fails to comply with such that notice then within 7 (seven) days of receipt thereof, subject to any other provisions of this agreement to the innocent contrary, the aggrieved party shall forthwith be entitledentitled to cancel this agreement or to claim specific performance, but not obliged, in either event without prejudice to any other rights or remedies which the he may have in law, including the aggrieved party's right to claim damages:. The aforegoing is without prejudice to such other rights as the aggrieved party may have in terms of this agreement, common law or statute;
16.1.1 22.2 In the event of the Seller cancelling this agreement in terms of the provisions of clause 22.1, any amount or amounts paid to cancel this Agreement the Seller or the Conveyancers (including any amount paid in trust) shall be forfeited to and upon cancellation: -
a) retained by the Seller as rouwkoop; alternatively, if the defaulting party is Seller so elects, he may recover any damages howsoever incurred as a result of such cancellation (including any losses and expenses on a resale, whether by public auction or private treaty), in which case the amount or amounts paid to the Seller or the Conveyancers as aforesaid (including any amount paid in trust) will not be forfeited as rouwkoop but may be retained by the Seller by way of set off or partial set off against the damages claimed by the Seller;
22.3 Notwithstanding the aforegoing, should the Seller exercise any of his rights in terms hereof and should the Purchaser dispute the Seller's right to do so, then pending the determination of that dispute, the Purchaser shall continue to pay all amounts payable in terms of this agreement on the due date thereof and to comply with all the terms hereof, and the Seller shall be entitled to recover and accept such payments and/or other performance without prejudice to the Seller's claim to have exercised rights in terms hereof, and in the event of the Seller succeeding in such dispute, the Seller shall be entitled to retain all such amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered received in the same good condition interim as at payment for the date of possession.
16.3 Occupancy of the Property occupational rights exercised and/or enjoyed by the Purchaser or persons on in the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common lawinterim.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Sale of Property Agreement
Breach. 16.1 If one of 12.1 Should either Party (‘the Parties commits Defaulting Party’) commit a breach of this Agreement or fails to comply with any of the provisions hereof, then the other Party (‘the Aggrieved Party’) shall be entitled to require the Defaulting Party to remedy the breach upon 14 (fourteen) days written notice to do. If the defaulting Party fails to remedy the breach within the period specified in such notice the Aggrieved Party shall be entitled to give claim immediate payment and/or performance by the Defaulting Party 7 (seven) days notice and all of the Defaulting Party’s obligations whether or not the due date of payment and/or performance shall have risen, in writing either event, without prejudice to remedy the Aggrieved Party’s right to claim damages. The foregoing is without prejudice to such other rights as the Aggrieved Party may have at law; provided that notwithstanding anything to the contrary contained in this Contract, the Aggrieved Party shall not be entitled to cancel this Contract for any breach or failure (by the Defaulting Party unless such breach is a material breach going to the root of this Contract and is incapable of being remedied by a payment of money or, if it is capable of being remedied by a payment of money, the Defaulting Party fails to pay the amount concerned within 20 (twenty) Business Days after such amount has been determined.
12.2 The Purchaser may terminate this Contract at any time by giving to the Seller notice of such termination if/or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 compulsory liquidation (sevenwhether provisional or final) day period may, at the election or under judicial management or under receivership or under equivalent of any of the Aggrieved Party be reduced foregoing;
12.2.1 a final and unappeasable judgement against the Seller remains unsatisfied for a period of 14 (fourteen) days or more after it comes to 48 (forty eight) hours). the notice of the board of directors of the Seller;
12.2.2 the Seller makes any arrangement or composition with its creditors generally or ceases to carry on business;
12.2.3 the Seller is amalgamated with, purchase by or through any corporate reconstruction becomes a part or member of or associated with, a competitor of the Purchaser.
12.3 If the defaulting party fails Seller, or any of its sub-contractors, agents, employees or servants gives or offers to comply give any person any bribe, gift, gratuity or commission as an inducement or reward (i) for doing or forbearing to do any action in relation to this Contract or any Order or any other Contract with such notice the Purchaser, or (ii) for showing of forbearing to show favour or disfavour to any person in relation to the Order or this Contract or to any other Contract with the Purchaser, or (iii) commits any act of dishonesty, fraud or theft in relation to the Order and/or this Contract and/or this Contract and/or Goods delivered pursuant to this Contract (hereinafter (i), (ii) and (iii) shall be collectively referred to as ‘dishonesty’), then the innocent party Purchaser shall forthwith be entitled, but not obliged, entitled to cancel this Contract and/or any Order without prejudice to any other rights or remedies which the he Purchaser may have in terms of this Contract or at law, including outstanding under this Contract upon written notice to the right to claim damages:
16.1.1 Seller. Should the Purchaser choose not to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the PurchaserContract and/or any Order outstanding under this Contract, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller then the Purchaser shall be entitled to a full refund of claim all money paid in terms hereof to losses, costs and damages which the Seller and to the Agent and to claim any other damages from the Seller that it Purchaser may have suffered suffer as a result of the Seller‘s default; or
16.1.2 dishonesty to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permissionSeller. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the The Purchaser shall not create a tenancy either be obliged to pay or compensate the Seller or any of its sub-contractors, agents, employees or servants for any work in terms progress or Goods to be supplied under any Orders cancelled in accordance with the provisions of this clause 12.3.
12.4 Any termination pursuant to the preceding provisions of this clause 12 shall be without prejudice to any claim, which any Party may have in respect of any statutory provision or at common lawprior breach of the terms and conditions of this Contract by any other Party.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: General Conditions of Purchase
Breach. 16.1 If one of Should the Parties commits a breach of this Agreement or fails User fail to comply with any of its obligations arising from this contract, or commit any act of insolvency or die, or attempt to compromise with any of its creditors, or have made any incorrect or untrue statement in connection herewith, or do or cause to be done anything which may prejudice the provisions hereofHirer's right under this contract, then the Aggrieved Party shall be entitled or allow any judgment against it to give the Defaulting Party 7 remain unsatisfied for a period of fourteen (seven14) days notice in writing after it came to remedy such breach its notice, or failure (unless such breach be subject to business rescue, or failure occurs after should the transfer documents Goods be seized under a legal process issued against the User, the Hirer shall have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obligedright, without prejudice to any other rights or remedies right which the he it may have in at law, including the right to claim damages:
16.1.1 16.1 to cancel this Agreement contract without any prior notice, and upon cancellation: -
a) if to take possession of the defaulting party is the Purchaser the Seller shall be entitled to goods, retain all amounts paid by the PurchaserUser in which event, excluding AUCTIONEER’s commissionthe User shall pay to the Hirer on demand, as rouwkoop or as a genuine pre-estimate any arrear rentals due on the date of damage suffered cancellation, plus the expenses incurred by the SellerHirer set out herein plus liquidated damages, amount of the aggregate of all rentals which would, but for such termination, have been payable for the unexpired period of this contract less the market value of the Goods at the date of the return of the Goods to the Hirer or repossession thereof by the Hirer (the market value being the value as determined by a sworn appraiser appointed by the Hirer or at the Hirer's option, the higher of two offers for the Goods obtained by the Hirer from two persons, one of whom shall be a dealer in the particular type of Goods and such market value shall be binding on the User and Hirer for all purposes of this agreement);
16.2 or without terminating this contract, to treat as immediately due and payable all rentals which would otherwise have become due and payable in terms of this contract over the then unexpired period of this contract, and furthermore to claim and recover from the Purchaser User forthwith the aggregate amount of such rentals as well as all rentals and other sums then in arrears in terms of this contract. The Hirer shall, pending payment of all those amounts, be entitled to be in possession of the Goods and to retain possession thereof until full payment by the User whereupon the Goods will be returned to the User and the User shall not be entitled to compensation from the Seller for any improvements rebate of whatsoever nature it may have caused on the Property, whether with rentals or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund other amounts by reason of all money paid in terms hereof to the Seller its loss of possession and to the Agent and to claim any other damages from the Seller that it may have suffered as a result enjoyment of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment Goods while same had been in the Hirer's possession. This risk in the Goods shall, however, remain with the User during the period of all possession by the defaulting party's obligations Hirer in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Contract of Lease
Breach. 16.1 If one of Should either party (“the Parties commits a defaulting party”) commit any breach of this Agreement or fails (including failing to comply with make any of the provisions hereof, then the Aggrieved Party shall be entitled payments on due date) and fail to give the Defaulting Party remedy such breach within 7 (seven) days after date of delivery of a written notice in writing to him requiring to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationbreach, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent other party (“the aggrieved party) shall forthwith be entitled, but not obliged, entitled to –
16.1.1 cancel this agreement without prejudice to any other rights or remedies which the he may have in at law, including the right ; OR
16.1.2 to claim damages:specific performance of the defaulting party’s obligations in terms of this Agreement.
16.1.1 to cancel this Agreement and upon cancellation: -
a) if 16.2 Should the Purchaser be the defaulting party in accordance with clause 16.1 and this Agreement is the Purchaser cancelled in accordance with clause 16.1.1, then the Seller shall be entitled to retain all amounts paid by the PurchaserPurchaser –
16.2.1 as his sole and exclusive property, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-pre- estimate of damage the damages suffered by the Seller as a result of such cancellation;
16.2.2 until the damages suffered by the Seller as a result of such cancellation has been determined, whereafter the Seller shall be entitled to set off the retained amount against such damages and to recover the balance from the Purchaser.
16.3 Any claim for specific performance by the Seller in accordance with clause 16.1.2 may include immediate payment of the full balance of the purchase price plus interest and all other amounts still due in terms hereof.
16.4 Should this agreement be cancelled as envisaged in clause 16.1.1 above, the Purchaser will immediately forfeit or abandon any rights which he may have acquired in and to the property to the Seller, and furthermore the Purchaser shall not be entitled hereby irrevocably agrees and undertakes to compensation from immediately vacate the Seller for property.
16.5 Notwithstanding the provisions of clauses 16.1 and without prejudice to any improvements of whatsoever nature it may have caused on the PropertySeller's rights, whether with or without the Seller‘s consent. The parties specifically agree that an amount of R10 000,00 (TEN THOUSAND RAND) of the AUCTIONEER shall purchase price will be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof forfeited to the Seller and to the Agent and to claim any other as an genuine pre-estimated damages from the Seller that it may have suffered should this agreement be cancelled as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment Purchaser’s breach of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, contract and the Purchaser hereby undertakes irrevocably instructs the Conveyancers to forthwith vacate pay such pre-estimated damages from any amount retained by them to the Property and to procure that the Property shall be vacated by any persons who occupy the Property through Seller on behalf of the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy 16.6 Should the estate of either party be finally sequestrated or liquidated (as the Property by case) may be or any party be placed under judicial management; then the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent other party shall be entitled to first deduct from any such money paid under cancel this Deed of Sale, the value of its commission Agreement and any direct costs incurred and to recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction all damages suffered by the Agent aggrieved party as a result of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Salesuch cancellation.
Appears in 1 contract
Samples: Agreement of Sale
Breach. 16.1 (a) If one Vinney breaches any of his obligations under Section 8, 9, 10, 11, 12, 16 or 20 in any material respect, then the Company may, at its sole option, following reasonable notice to Vinney and opportunity to cure (other than with respect to those matters set forth in Section 13(b) below), terminate Vinney’s employment with STERIS and terminate all remaining payments and benefits described in this Agreement and obtain reimbursement from Vinney of any expenses and damages incurred as a result of the Parties commits a breach (including, without limitation, reasonable attorneys’ fees), with the remainder of this Agreement, and all promises and covenants in this Agreement, remaining in full force and effect; provided, however, that the Company shall not terminate pursuant to this Section 13(a) any benefits in which Vinney had vested under the Company’s 401(k) Savings Plan, nor will Vinney’s COBRA rights, if any, be reduced by any action taken by the Company under this Section 13(a).
(b) Vinney acknowledges and agrees that the remedy at law available to the Company for breach by Vinney of any of his obligations under Sections 8, 9, 10, 12 and 20 of this Agreement or fails would be inadequate and that damages flowing from such a breach would not readily be susceptible to comply with any of the provisions hereofbeing measured in monetary terms. Accordingly, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationVinney acknowledges, consents and agrees that, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice addition to any other rights or remedies which the he Company may have in at law, including in equity or under this Agreement, upon adequate proof of Vinney’s violation of any provision of Sections, 8, 9, 10, 12 and 20 of this Agreement, the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller Company shall be entitled to retain all amounts paid by the Purchaserimmediate injunctive relief and may obtain a temporary order restraining any threatened or further breach, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that necessity of proof of actual damage.
(c) If the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim Company breaches any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 Upon cancellation provisions of this Agreement in any material respect, then Vinney may, following reasonable notice to the Company and opportunity to cure, exercise all rights and remedies which Vinney may have, and the Company shall reimburse Vinney for whatever reasonany costs and expenses (including, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered without limitation, attorneys’ fees) reasonably incurred in the same good condition as at the date of possessionconnection therewith.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required under this Deed of Sale, the parties record and agree that the Agent shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the Purchaser.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Employment Agreement (Steris Corp)
Breach. 16.1 15.1. If one of any party (“the Parties defaulting party”) commits a breach of this Agreement or fails to comply agreement and persists with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party such breach for more than 7 (sevenSEVEN) days notice after being called upon in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registrationrectify same, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 15.1.1. to cancel this Agreement agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultdamages; or
16.1.2 15.1.2. to claim immediate performance and/or payment of all the defaulting party's ’s outstanding obligations in terms hereofhereof and claim damages.
16.2 15.2. Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereincancellation, should the Purchaser pay any amount as required under this Deed of Saledefaulting party have been the Purchaser, the parties record and agree that the Agent Seller shall be entitled to first deduct from any such money paid under this Deed of Saleretain the deposit as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
15.3. Upon cancellation, should the defaulting party have been the Seller, the value Seller shall (in addition to the refunding to the Purchaser of its commission any deposit which the Purchaser might already have paid) pay to the Purchaser an amount equal to the deposit paid by the Purchaser and the Purchaser shall be entitled to retain this amount as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above.
15.4. Should the defaulting party be the Purchaser, and should the Purchaser disputes the Seller’s right to cancel and remain in occupation of the unit after date of cancellation, the Purchaser shall continue to pay the occupational rental, the municipal charges and the levy and any direct costs incurred other amounts as if the agreement had not been cancelled. The Seller shall be entitled to claim and recover any shortfall thereon from accept payment of such amounts without prejudice to the PurchaserSeller’s claim for cancellation.
16.5 It is recorded further that 15.5. Should the deduction innocent party at first elect to not to enforce its rights of cancellation the innocent party shall not prevented from cancelling the agreement at a later stage as a result of the same breach should the defaulting party defend the action instituted by the Agent innocent party and/or should any judgment given to the innocent party, which obliges the defaulting party to perform, not be satisfied within a reasonable period.
15.6. Notwithstanding the above provisions neither party shall be entitled to cancel the agreement after 7 days notice if the breach complained of commission due is not reasonably capable of being remedied in the 7 day period. In such an event the notice placing the defaulting party on terms to it under perform shall only entitle the sale does not absolve cancellation of the Purchaser from any and all other obligations arising from this Deed of Saleagreement if the period given to perform is reasonable in the circumstances.
Appears in 1 contract
Samples: Offer to Purchase / Sale Agreement
Breach. 16.1 If one of 32.1 Should the Parties commits a breach Seller or the Purchaser, as the case may be ("the defaulting Party "):
32.1.1 fail to pay any amount due by the defaulting Party in terms of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party on due date and remain in default for more than 7 (seven) days notice after being notified in writing to do so by the other Party ("the aggrieved Party ") ; or
32.1.2 commit any other breach of any of the provisions of this Agreement and fail to remedy such that breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the within a period of 7 (seven) day period may, at days after the election receipt of written notice to that effect by the other Party ( "the aggrieved Party ") and complete the remedying of such breach within a reasonable time ; or
32.1.3 commit a breach of any of the Aggrieved provisions of this Agreement at a time critical to the registration procedure and fail to remedy that breach within 48 hours after receipt of written notice to that effect by the other party ("the aggrieved Party"); then and in of these events, the aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, entitled (but not obliged, ) without prejudice to any other rights or remedies which the he aggrieved Party may have in law, including the right to claim damages:
16.1.1 32.1.4 to cancel this Agreement without any further notice and upon cancellation: -
a) if in the event of the Purchaser being the defaulting party is the Purchaser Party, the Seller shall be entitled to retain all amounts monies paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate Purchaser pending determination of damage suffered by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s defaultits damages; or
16.1.2 32.1.5 to claim immediate performance and/or payment of all the obligations of the defaulting party's obligations Party in terms hereofof this Agreement, including immediate payment of the balance of the purchase price of the Subject Matter in the event of the Purchaser being the defaulting Party.
16.2 32.2 Should the Purchaser dispute the right of the Seller to cancel this Agreement, then pending the determination of that dispute, the Purchaser shall be obliged to continue payment of all amounts payable by it in terms of this Agreement on the due dates thereof and the Seller shall be entitled to recover and accept those payments without prejudice to the Seller's claim for cancellation of this Agreement or any other rights of the Seller whatsoever.
32.3 Upon cancellation of this Agreement for whatever reasonany reason whatsoever, the Purchaser hereby undertakes to forthwith vacate the Property Unit forthwith and shall cease to procure that the Property shall be vacated by have any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained herein, should the Purchaser pay any amount as required rights under this Deed of Sale, Agreement and the parties record and agree that the Agent Seller shall immediately be entitled to first deduct from any such money paid under this Deed of Sale, resell the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserSubject Matter.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Agreement of Sale
Breach. 16.1 If one of 12.1 Should the Parties commits Purchaser fail to make any payments on due date as provided for herein, or otherwise commit a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party other terms and conditions hereof and remain in breach for 7 (sevenSeven) days after dispatch of a written notice in writing by registered post, requiring him to remedy such breach or failure (unless of such breach or failure occurs after other terms and conditions, the transfer documents have been lodged in the Deeds Office for registrationSeller shall be entitled forthwith, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, and without prejudice to any other rights or remedies which the he may have in available at law, including the right to claim damagesto:
16.1.1 to 12.1.1 claim immediate payment of the entire balance outstanding although not otherwise due by the Purchaser under this agreement, or
12.1.2 cancel this Agreement agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall be entitled to retain all amounts paid by the Purchaser, excluding AUCTIONEER’s commission, Purchaser as rouwkoop or as a genuine pre-estimate of damage damages suffered by the Seller, and furthermore and, furthermore, the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it he may have caused on the Property, whether with or without the Seller‘s Seller's consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if 12.1.3 alternative to the defaulting party is above, the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller cancel this agreement and to the Agent and to claim recover any other damages from the Seller damage that it may have suffered as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all breach by the defaulting party's obligations in terms hereofPurchaser, from the Purchaser.
16.2 Upon cancellation of 12.2 If this Agreement for whatever reasonagreement is cancelled as hereinbefore provided, the Purchaser hereby undertakes and all persons claiming a right of occupation through the Purchaser shall forthwith be obliged to forthwith vacate the Property and to procure deliver it to the Seller. It is specifically recorded in this regard that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title no lease or by his permission. Occupation shall be re- delivered other similar right of occupation in the same good condition as at the date of possession.
16.3 Occupancy of the Property by the Purchaser or persons on the authority favour of the Purchaser shall not create a tenancy either be created or come into existence by virtue of this agreement. Should the Purchaser dispute the Seller's right to do so, then pending the determination of that dispute, the Purchaser shall continue to pay all amounts payable in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereinthis agreement on the due date thereof, should and to comply with all the Purchaser pay any amount as required under this Deed of Sale, terms hereof and the parties record and agree that the Agent Seller shall be entitled to first deduct retain such amounts received in the interim.
12.3 Without prejudice to any rights of the Seller as set out herein, all moneys payable by the Purchaser in terms hereof and unpaid on due date and any amounts secured by guarantee which is not provided on the due date shall bear interest at 2% (Two Percent) above the prime bank lending rate charged by the Seller's bankers from any such money paid under this Deed time to time. In the event of Salea dispute arising as to the rate payable, the value rate shall be certified by any manager or assistant manager of its commission any branch of the Seller's bank whose decision shall be final and any direct costs incurred and recover any shortfall thereon binding on the parties. Interest as aforesaid shall be calculated from the Purchaser.
16.5 It is recorded further that due date to actual date of payment and in the deduction case of guarantees to be presented from the due date thereof until date of actual payment and shall be payable without demand having to be made therefore. Each payment made by the Agent Purchaser shall be allocated first to the payment of commission interest and then to the payment of any other moneys due in terms hereof and thereafter to it under the sale does not absolve reduction of the Purchaser from any and all other obligations arising from this Deed of Salepurchase price.
Appears in 1 contract
Samples: Agreement of Sale
Breach. 16.1 11.1 If one of the Parties commits a breach of this Agreement or fails to comply with any of the provisions hereof, then the Aggrieved Party shall be entitled to give the Defaulting Party 7 (seven) days notice in writing to remedy such breach or failure (unless such breach or failure occurs after the transfer documents have been lodged in the Deeds Office for registration, in which case the 7 (seven) day period may, at the election of the Aggrieved Party be reduced to 48 (forty eight) hours). If the defaulting party fails to comply with such notice then the innocent party shall forthwith be entitled, but not obliged, without prejudice to any other rights or remedies which the he it may have in law, including the right to claim damages:
16.1.1 11.1.1 to cancel this Agreement and upon cancellation: -
a) 11.1.1.1 if the defaulting party is the Purchaser PURCHASER the Seller SELLER shall be entitled to retain all amounts paid by the PurchaserPURCHASER, excluding AUCTIONEERAGENT’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered by the SellerSELLER, and furthermore the Purchaser PURCHASER shall not be entitled to compensation from the Seller SELLER for any improvements of whatsoever nature it may have caused on the PropertyPROPERTY, whether with or without the Seller‘s SELLER’s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; andand DRAFT
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered as a result of the Seller‘s default; or
16.1.2 11.1.2 to claim immediate performance and/or payment of all the defaulting party's obligations in terms hereof.
16.2 11.2 Upon cancellation of this Agreement for whatever reason, the Purchaser PURCHASER hereby undertakes to forthwith vacate the Property PROPERTY and to procure that the Property PROPERTY shall be vacated by any persons who occupy the Property PROPERTY through the Purchaser’s PURCHASER's title or by his permission. Occupation shall be re- re-delivered in the same good condition as at the date of possession.
16.3 11.3 Occupancy of the Property PROPERTY by the Purchaser PURCHASER or persons on the authority of the Purchaser PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 11.4 Notwithstanding what is contained herein, should the Purchaser PURCHASER pay any amount as required under this Deed of Sale, the parties record and agree that the Agent AGENT shall be entitled to first deduct from any such money paid under this Deed of Sale, the value of its commission and any direct costs incurred and recover any shortfall thereon from the PurchaserPURCHASER.
16.5 11.5 It is recorded further that the deduction by the Agent AGENT of commission due to it under the sale does not absolve the Purchaser PURCHASER from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Offer to Purchase
Breach. 16.1 If one 13.1 Subject to clause 13.2 below, should either party breach a term of this agreement, the other party must advise the defaulting party of the Parties commits a breach and give that party at least 5 business days to remedy the breach.
13.2 Should the TENANT:
13.2.1 fail to pay the monthly rental or any other amount due in terms of this Agreement or fails to comply with agreement on due date; or
13.2.2 repeatedly breach any of the provisions hereofterms of this agreement in such manner as to justify the LANDLORD in holding that the TENANT’S conduct is inconsistent with the intention or ability of the TENANT to carry out the terms of this agreement, then the Aggrieved Party shall LANDLORD may, without prejudice to its right to damages or to its right to eject the TENANT from the Premises or to any other claim of any nature whatever that the LANDLORD may have against the TENANT as a result hereof:
13.2.3 be entitled to give cancel this agreement; or
13.2.4 in the Defaulting Party 7 (seven) days notice in writing case of a failure by the TENANT to make a repair, to remedy such breach or failure (unless such breach or failure occurs after and immediately recover the transfer documents have been lodged total cost incurred by the LANDLORD in so doing from the Deeds Office for registration, TENANT.
13.3 Should the LANDLORD cancel this agreement and the TENANT dispute the LANDLORD’S right to do so and remain in which case the 7 (seven) day period may, at the election occupation of the Aggrieved Party be reduced Premises pending the determination of that dispute, then:
13.3.1 the TENANT shall continue to 48 (forty eight) hours). If pay, on due date, all amounts due by the defaulting party fails TENANT in terms of this agreement;
13.3.2 the LANDLORD is entitled to comply with such notice then recover and accept those payments;
13.3.3 the innocent party shall forthwith be entitled, but not obliged, acceptance by the LANDLORD of those payments is without prejudice to and does not in any manner whatsoever affect the LANDLORD’S claim to cancellation of this agreement or of any other rights or remedies which nature whatever.
13.4 Should a dispute be determined in favour of the he may have LANDLORD, then payments made to the LANDLORD in law, including the right to claim damages:
16.1.1 to cancel this Agreement and upon cancellation: -
a) if the defaulting party is the Purchaser the Seller shall terms of clause 13.3.2 above will be entitled to retain all amounts regarded as damages paid by the Purchaser, excluding AUCTIONEER’s commission, as rouwkoop or as a genuine pre-estimate of damage suffered TENANT for loss sustained by the Seller, and furthermore the Purchaser shall not be entitled to compensation from the Seller for any improvements of whatsoever nature it may have caused on the Property, whether with or without the Seller‘s consent. The parties specifically agree that the AUCTIONEER shall be entitled, but not obliged, to immediately resubmit the Property for auction; and
b) if the defaulting party is the Seller the Purchaser shall be entitled to a full refund of all money paid in terms hereof to the Seller and to the Agent and to claim any other damages from the Seller that it may have suffered LANDLORD as a result of the Seller‘s default; or
16.1.2 to claim immediate performance and/or payment of all holding over by the defaulting party's obligations in terms hereof.
16.2 Upon cancellation of this Agreement for whatever reason, the Purchaser hereby undertakes to forthwith vacate the Property and to procure that the Property shall be vacated by any persons who occupy the Property through the Purchaser’s title or by his permission. Occupation shall be re- delivered in the same good condition as at the date of possession.
16.3 Occupancy TENANT of the Property by the Purchaser or persons on the authority of the Purchaser shall not create a tenancy either in terms of any statutory provision or at common law.
16.4 Notwithstanding what is contained hereinPremises and, should the Purchaser pay any amount as required under this Deed dispute be determined in favour of Salethe TENANT, the parties record and agree said payments shall be deemed to be rentals duly paid by the TENANT.
13.5 Should the TENANT vacate the Premises before the end of the lease, without notice to the LANDLORD, the lease is deemed to have expired on the date that the Agent shall be entitled to first deduct from any such money paid under LANDLORD established that the TENANT had vacated the Premises, but in this Deed of Sale, case the value of LANDLORD retains all its commission and any direct costs incurred and recover any shortfall thereon rights arising from the PurchaserTENANT’S breach of the lease.
16.5 It is recorded further that the deduction by the Agent of commission due to it under the sale does not absolve the Purchaser from any and all other obligations arising from this Deed of Sale.
Appears in 1 contract
Samples: Lease Agreement