Common use of Caveats and settlement notice Clause in Contracts

Caveats and settlement notice. (a) The Buyer or any agent or other person on behalf of the Buyer must not lodge a caveat affecting the Land or the Lot. (b) The Buyer irrevocably appoints the Seller and the Officers of the Seller and their substitutes, jointly and severally, to be the attorney of the Buyer for the purpose of signing any document (including withdrawal of caveat) and doing anything in order to procure the release or withdrawal of any caveat lodged by or on behalf of the Buyer. The Buyer acknowledges that this power of attorney is given to secure Obligations owed by the Buyer to the Seller and that the power of attorney may be exercised by the Seller despite any conflict of interest. (c) The Buyer may lodge a settlement notice but only when the Lot comes into existence after the Scheme is established.

Caveats and settlement notice. (a) The Buyer or any agent or other person on behalf of the Buyer must not lodge a caveat affecting the Land or the Lot. (b) The Buyer irrevocably appoints the Seller and the Officers of the Seller and their substitutes, jointly and severally, to be the attorney of the Buyer for the purpose of signing any document (including withdrawal of caveat) and doing anything in order to procure the release or withdrawal of any caveat lodged by or on behalf of the Buyer. .The Buyer acknowledges that this power of attorney is given to secure Obligations owed by the Buyer to the Seller and that the power of attorney may be exercised by the Seller despite any conflict of interest. (c) The Buyer may lodge a settlement notice but only when the Lot comes into existence after the Scheme is established.