Common use of COMPANY OR CLOSE CORPORATION TO BE FORMED Clause in Contracts

COMPANY OR CLOSE CORPORATION TO BE FORMED. 13.1. In the event of the party signing as PURCHASER acting as Trustee for a Company/Close Corporation formed or to be formed, then that signatory binds himself in his personal capacity as co- principal debtor for all obligations herein created and shall be responsible to the SELLER as if he was the PURCHASER in terms of this agreement.