Common use of CAPACITY OF EMPLOYER Clause in Contracts

CAPACITY OF EMPLOYER. 19.1 If more than one Employer signs this Agreement, the Employers will be jointly and severally liable for the due performance of the terms and conditions of this Agreement. 19.2 In the event of the Employer being a juristic person or a trustee for the time being of a Trust, the Signatory and his/her Spouse, if applicable, by his/their signature hereto, binds himself/themselves, as surety/ies and co-principal debtor/s in solidum with the Employer, under renunciation of the benefits of excussion and division, for the performance by the Purchaser of all the Employer’s obligations in terms of this Agreement. 19.3 In the event of the Employer being a company to be formed, the Signatory and his/her Spouse, if applicable, shall be personally liable for all the obligations of the Employer as though he/they contracted in his/their personal capacity, if the company in respect of which he/they act/s as agent, is not incorporated within 30 (thirty) days of the Signature Date and/or if the company, having been duly incorporated, fails to adopt and ratify this transaction without modification within 7 (seven) days of the date of such incorporation. 19.4 Upon timeous formation of the company and due and timeous ratification and adoption of this transaction, the Signatory/ies shall become and be liable as surety/ies for and co-principal debtor/s in solidum with the company for its obligations as Employer in terms of this Agreement, under renunciation of the benefits of excussion and division.

CAPACITY OF EMPLOYER. ‌ 19.1 If more than one Employer signs this Agreement, the Employers will be jointly and severally liable for the due performance of the terms and conditions of this Agreement. 19.2 In the event of the Employer being a juristic person or a trustee for the time being of a Trust, the Signatory and his/her Spouse, if applicable, by his/their signature hereto, binds himself/themselves, as surety/ies and co-principal debtor/s in solidum with the Employer, under renunciation of the benefits of excussion and division, for the performance by the Purchaser of all the Employer’s obligations in terms of this Agreement. 19.3 In the event of the Employer being a company to be formed, the Signatory and his/her Spouse, if applicable, shall be personally liable for all the obligations of the Employer as though he/they contracted in his/their personal capacity, if the company in respect of which he/they act/s as agent, is not incorporated within 30 (thirty) days of the Signature Date and/or if the company, having been duly incorporated, fails to adopt and ratify this transaction without modification within 7 (seven) days of the date of such incorporation. 19.4 Upon timeous formation of the company and due and timeous ratification and adoption of this transaction, the Signatory/ies shall become and be liable as surety/ies for and co-principal debtor/s in solidum with the company for its obligations as Employer in terms of this Agreement, under renunciation of the benefits of excussion and division.