Common use of CAPACITY OF PURCHASER Clause in Contracts

CAPACITY OF PURCHASER. 10.1 Should the Purchaser be married in community of property he/she warrants that his/her spouse shall forthwith countersign this agreement where indicated at the foot hereof and thereby: 10.1.1 contractually assist him/her herein as far as may be necessary, if at all; and 10.1.2 bind him/herself as surety and co-principal debtor jointly and severally with him/her for all his/her obligations arising from this agreement; and 10.1.3 commit him/herself also to assist and so bind him/herself in respect of the Purchaser's application and to procure a mortgage loan/s and in respect of the mortgage loan/s itself, as contemplated in Clause 9 hereof, should any proposed mortgagee so require. 10.2 Should there be a plurality of Purchasers in terms of this Agreement, their obligations arising from this agreement shall be joint and several. 10.3 Should the Purchaser sign this agreement as trustee or agent for a company or close corporation, the signatory shall be deemed to be personally liable in terms of this agreement should the company or close corporation not be incorporated or not ratify and adopt this agreement within 21 (twenty one) days of the date of signature hereof by the Purchaser and/or do not furnish the seller's attorneys with all company or close corporation registration documentation within 30 (thirty) days from date of signature hereof by the purchaser. Upon incorporation and ratification as aforesaid signatory by its signature hereto binds himself as surety for and co-principal debtor in solidum with the company or close corporation for the due and punctual performance by the company or close corporation purchaser of its obligations arising out of this agreement.

CAPACITY OF PURCHASER. 10.1 14.1 Should the Purchaser be married in community of property he/she warrants that his/her spouse shall forthwith countersign this agreement Agreement where indicated at the foot hereof and thereby: 10.1.1 14.1.1 contractually assist him/her herein as far as may be necessary, if at all; and 10.1.2 14.1.2 bind him/herself as surety and co-principal debtor jointly and severally with him/her for all his/her obligations arising from this agreementAgreement; and 10.1.3 commit 14.1.3 Commit him/herself also to assist and so bind him/herself in respect of the Purchaser's ’s application and to procure a mortgage loan/s Mortgage Loan and in respect of the mortgage loan/s Mortgage Loan itself, as contemplated in Clause 9 4.1 hereof, should any proposed mortgagee Mortgage be so requirerequired. 10.2 14.2 Should there be by a plurality of Purchasers in terms of this Agreement, ; their obligations arising from this agreement Agreement shall be joint and several. 10.3 14.3 Should the Purchaser sign this agreement Agreement as trustee or agent for a company or close corporationcorporation to be formed, the signatory shall be deemed to be personally liable in terms of this agreement Agreement should the company or close corporation not be incorporated or not ratify and adopt this agreement Agreement within 21 60 (twenty oneSIXTY) days of the date of signature hereof by the Purchaser and/or do not furnish the seller's attorneys with all company or close corporation registration documentation within 30 (thirty) days from date of signature hereof by the purchaserhereof. Upon incorporation and ratification as aforesaid signatory aforesaid, the Purchaser by its his signature hereto binds bind himself as surety for and co-principal debtor in solidum with the company or close corporation for the due and punctual performance by the company or close corporation purchaser Purchaser of its obligations arising out of this agreementAgreement. The Purchaser shall be obliged to furnish the Seller’s Conveyancers with written proof of such incorporation and ratification within 10 (TEN) days of such incorporation and adoption, failing which the signatory shall be the Purchaser in his/her personal capacity.

CAPACITY OF PURCHASER. 10.1 19.1 Should the Purchaser be married in community of property he/she warrants that his/her spouse shall forthwith countersign this agreement where indicated at the foot hereof and thereby: 10.1.1 contractually assist him/her herein as far as may be necessary, if at all; and 10.1.2 bind him/herself as surety and co-principal debtor jointly and severally with him/her for all his/her obligations arising from this agreement; and 10.1.3 commit him/herself also to assist and so bind him/herself in respect of the Purchaser's application and to procure a mortgage loan/s and in respect of the mortgage loan/s itself, as contemplated in Clause 9 hereof, should any proposed mortgagee so require. 10.2 Should there be a plurality of Purchasers in terms of this Agreement, their obligations arising from this agreement shall be joint and several. 10.3 Should the Purchaser sign this agreement as trustee or agent for a company or close corporation, the signatory shall be deemed hereto warrants and binds himself in his personal capacity by virtue of his signature hereto – 19.1.1 that he is duly authorised to be personally liable in terms of enter into this agreement should on behalf of the company or close corporation; 19.1.2 that the company or close corporation not be incorporated or not ratify is lawfully entitled to acquire and adopt take transfer of the Property; 19.1.3 that all conditions have been complied with in order to make this agreement binding on the company or close corporation; and 19.1.4 that the company or close corporation will duly and punctually comply with all its obligations in terms of this agreement. 19.2 Should the signatory for the Purchaser act as trustee for a company or close corporation to be formed, such signatory by his signature hereto – 19.2.1 undertakes to procure that the company or close corporation for which he is acting as trustee will be duly incorporated within 21 14 (twenty onefourteen) days of from the date of signature hereof by the Purchaser and/or do not furnish the seller's attorneys with all company or close corporation registration documentation within 30 (thirty) days from date of signature hereof by the purchaser. Upon incorporation and ratification as aforesaid signatory by its signature hereto that it will adopt and ratify this agreement in order that it becomes legally binding upon it; and 19.2.2 binds himself as surety for and co-principal debtor in solidum with the such company or close corporation for the due and punctual performance by it of all its obligations in terms of this agreement, under express renunciation of the benefits of excussion and division. 19.3 In the event that paragraph 19.2.1 is not fulfilled, the signatory hereto shall be deemed to have acted in his personal capacity and shall be deemed to be the Purchaser in terms of this agreement. 19.4 Should the Purchaser be a company or close corporation, this agreement shall be further subject to the suspensive condition (which may be waived by the Seller alone), and the Purchaser hereby warrants in favour of the Seller, that all the directors of the company or all the members of the close corporation purchaser corporation, as the case may be, will bind themselves jointly and severally as sureties for and co-principal debtors in solidum with the Purchaser to the Seller for the due and punctual performance by the Purchaser of all its obligations arising out of or in connection with this agreement, its breach, cancellation and/or termination.