Common use of Completion of Electronic Workspace Clause in Contracts

Completion of Electronic Workspace. (1) The parties must: (a) ensure that the Electronic Workspace is completed and all Electronic Conveyancing Documents and the Financial Settlement Schedule are Digitally Signed prior to settlement; and (b) do everything else required in the Electronic Workspace to enable settlement to occur on the Settlement Date. (2) If the parties cannot agree on a time for settlement, the time to be nominated in the Workspace is 4pm AEST. (3) If any part of the Purchase Price is to be paid to discharge an Outgoing: (a) the Buyer may, by notice in writing to the Seller, require that the amount is paid to the Buyer’s Solicitor’s trust account and the Buyer is responsible for paying the amount to the relevant authority; (b) for amounts to be paid to destination accounts other than the Buyer’s Solicitor’s trust account, the Seller must give the Buyer a copy of the current account for the Outgoing to enable the Buyer to verify the destination account details in the Financial Settlement Schedule. (4) If the Deposit is required to discharge any Encumbrance or pay an Outgoing at settlement: (a) the Deposit Holder must, if directed by the Seller at least 2 Business Days prior to Settlement, pay the Deposit (and any interest accrued on investment of the Deposit) less commission as clear funds to the Seller’s Solicitor; (b) the Buyer and the Seller authorise the Deposit Holder to make the payment in clause 11.2(4)(a); (c) the Seller’s Solicitor will hold the money as Deposit Holder under the Contract; (d) the Seller and Buyer authorise the Seller’s Solicitor to pay the money as directed by the Seller in accordance with the Financial Settlement Schedule.

Completion of Electronic Workspace. (1) The parties must: (a) ensure that the Electronic Workspace is completed and all Electronic Conveyancing Documents and the Financial Settlement Schedule are Digitally Signed prior to settlement; and (b) do everything else required in the Electronic Workspace or otherwise to enable settlement to occur on the Settlement Date. (2) If the parties cannot agree on a time for settlement, the time to be nominated in the Workspace is 4pm AEST. (3) If any part of the Purchase Price is to be paid to discharge an Outgoing: (a) the Buyer may, by notice in writing to the Seller, require that the amount is paid to the Buyer’s Solicitor’s trust account and the Buyer is responsible for paying the amount to the relevant authority; (b) for amounts to be paid to destination accounts other than the Buyer’s Solicitor’s trust account, the Seller must give the Buyer a copy of the current account for the Outgoing to enable the Buyer to verify the destination account details in the Financial Settlement Schedule. (4) If the Deposit is required to discharge any Encumbrance or pay an Outgoing at settlement: (a) the Deposit Holder must, if directed by the Seller at least 2 Business Days prior to Settlement, pay the Deposit (and any interest accrued on investment of the Deposit) less commission as clear funds to the Seller’s Solicitor; (b) the Buyer and the Seller authorise the Deposit Holder to make the payment in clause 11.2(4)(a); (c) the Seller’s Solicitor will hold the money as Deposit Holder under the Contract; (d) the Seller and Buyer authorise the Seller’s Solicitor to pay the money as directed by the Seller in accordance with the Financial Settlement Schedule.

Completion of Electronic Workspace. (1) The parties must: (a) ensure that the Electronic Workspace is completed and all Electronic Conveyancing Documents and the Financial Settlement Schedule are Digitally Signed prior to settlement; and (b) do everything else required in the Electronic Workspace or otherwise to enable settlement to occur on the Settlement Date. (2) If the parties cannot agree on a time for settlement, the time to be nominated in the Workspace is 4pm AEST. (3) If any part of the Purchase Price is to be paid to discharge an Outgoing: (a) the Buyer may, by notice in writing to the Seller, require that the amount is paid to the Buyer’s Solicitor’s trust account and the Buyer is responsible for paying the amount to the relevant authority; (b) for amounts to be paid to destination accounts other than the Buyer’s Solicitor’s trust account, the Seller must give the Buyer a copy of the current account for the Outgoing to enable the Buyer to verify the destination account details in the Financial Settlement Schedule. (4) If the Deposit is required to discharge any Encumbrance or pay an Outgoing at settlement: (a) the Deposit Holder must, if directed by the Seller at least 2 Business Days prior to Settlementbefore settlement, pay the Deposit (and any interest accrued on investment of the Deposit) less commission as clear funds to the Seller’s Solicitor; (b) the Buyer and the Seller authorise the Deposit Holder to make the payment in clause 11.2(4)(a); (c) the Seller’s Solicitor will hold the money as Deposit Holder under the Contract; (d) the Seller and Buyer authorise the Seller’s Solicitor to pay the money as directed by the Seller in accordance with the Financial Settlement Schedule.

Completion of Electronic Workspace. (1) The parties must: (a) ensure that the Electronic Workspace is completed and all Electronic Conveyancing Documents and the Financial Settlement Schedule are Digitally Signed prior to settlement; and (b) do everything else required in the Electronic Workspace to enable settlement to occur on the Settlement Date. (2) If the parties cannot agree on a time for settlement, the time to be nominated in the Workspace is 4pm AEST. (3) If any part of the Purchase Price is to be paid to discharge an Outgoing: (a) the Buyer may, by notice in writing to the Seller, require that the amount is paid to the Buyer’s 's Solicitor’s 's trust account and the Buyer is responsible for paying the amount to the relevant authority; (b) for amounts to be paid to destination accounts other than the Buyer’s 's Solicitor’s 's trust account, the Seller must give the Buyer a copy of the current account for the Outgoing to enable the Buyer to verify the destination account details in the Financial Settlement Schedule. (4) If the Deposit is required to discharge any Encumbrance or pay an Outgoing at settlement: (a) the Deposit Holder must, if directed by the Seller at least 2 Business Days prior to Settlement, pay the Deposit (and any interest accrued on investment of the Deposit) less commission as clear funds to the Seller’s 's Solicitor; (b) the Buyer and the Seller authorise the Deposit Holder to make the payment in clause 11.2(4)(a11(4)(a); (c) the Seller’s 's Solicitor will hold the money as Deposit Holder under the Contract; (d) the Seller and Buyer authorise the Seller’s 's Solicitor to pay the money as directed by the Seller in accordance with the Financial Settlement Schedule.

Completion of Electronic Workspace. (1) The parties must: (a) ensure that the Electronic Workspace is completed and all Electronic Conveyancing Documents and the Financial Settlement Schedule are Digitally Signed prior to settlement; and (b) do everything else required in the Electronic Workspace or otherwise to enable settlement to occur on the Settlement Date. (2) If the parties cannot agree on a time for settlement, the time to be nominated in the Workspace is 4pm AEST. (3) If any part of the Purchase Price is to be paid to discharge an Outgoing: (a) the Buyer may, by notice in writing to the Seller, require that the amount is paid to the Buyer’s 's Solicitor’s 's trust account and the Buyer is responsible for paying the amount to the relevant authority; (b7) for amounts relevant amount to the account nominated by the Commissioner of Taxation. The Seller will be paid taken to destination accounts other than the Buyer’s Solicitor’s trust accounthave complied with clause 5.3(1)(b), the Seller must give the Buyer a copy of the current account for the Outgoing to enable the Buyer to verify the destination account details in the Financial Settlement Schedule. (4c), (d) If the Deposit is required to discharge any Encumbrance or pay an Outgoing at settlementand (e) if: (a) in relation to documents which are suitable for Electronic Lodgement in the Deposit Holder mustLand Registry at settlement, if directed by the Seller at least 2 Business Days prior to Settlement, pay documents are Digitally Signed within the Deposit (and any interest accrued on investment of the Deposit) less commission as clear funds to the Seller’s Solicitor;Electronic Workspace; and (b) in relation to any other document or thing, the Seller's Solicitor: (i) confirms in writing prior to settlement that it holds all relevant documents which are not suitable for Electronic Lodgement and all Keys (if requested under clause 5.3(1)(c)) in escrow on the terms contained in the QLS E-Conveyancing Guidelines; and (ii) gives a written undertaking to send the documents and Keys (if applicable) to the Buyer and or Buyer’s Solicitor no later than the Seller authorise the Deposit Holder to make the payment in clause 11.2(4)(a);Business Day after settlement; and (ciii) if requested by the Buyer, provides copies of documents in the Seller’s Solicitor will hold Solicitors possession. A party is not in default to the money as Deposit Holder extent it is prevented from complying with an obligation because the other party or the other party's Financial Institution has not done something in the Electronic Workspace. Any rights under the Contract; (d) contract or at law to terminate the Seller and Buyer authorise contract may not be exercised during the Seller’s Solicitor time the Electronic Workspace is locked for Electronic Settlement. Electronic Settlement is taken to pay the money as directed by the Seller in accordance with the occur when Financial Settlement Scheduleis effected, whether or not Electronic Lodgement has occurred.

Completion of Electronic Workspace. (1) The parties must: (a) ensure that the Electronic Workspace is completed and all Electronic Conveyancing Documents and the Financial Settlement Schedule are Digitally Signed prior to settlement; and (b) do everything else required in the Electronic Workspace to enable settlement to occur on the Settlement Date. (2) If the parties cannot agree on a time for settlement, the time to be nominated in the Workspace is 4pm AEST. (3) If any part of the Purchase Price is to be paid to discharge an Outgoing: (a) the Buyer may, by notice in writing to the Seller, require that the amount is paid to the Buyer’s Solicitor’s trust account and the Buyer is responsible for paying the amount to the relevant authority; (b) for amounts to be paid to destination accounts other than the Buyer’s Solicitor’s trust account, the Seller must give the Buyer a copy of the current account for the Outgoing to enable the Buyer to verify the destination account details in the Financial Settlement Schedule. (4) If the Deposit is required to discharge any Encumbrance or pay an Outgoing at settlement: (a) the Deposit Holder must, if directed by the Seller at least 2 Business Days prior to Settlementsettlement, pay the Deposit (and any interest accrued on investment of the Deposit) less commission as clear funds to the Seller’s Solicitor; (b) the Buyer and the Seller authorise the Deposit Holder to make the payment in clause 11.2(4)(a17.2(4)(a); (c) the Seller’s Solicitor will hold the money as Deposit Holder under the Contract;; and (d) the Seller and Buyer authorise the Seller’s Solicitor to pay the money as directed by the Seller in accordance with the Financial Settlement Schedule.

Completion of Electronic Workspace. (1) The parties must: (a) ensure that the Electronic Workspace is completed and all Electronic Conveyancing Documents and the Financial Settlement Schedule are Digitally Signed prior to settlement; and (b) do everything else required in the Electronic Workspace or otherwise to enable settlement to occur on the Settlement Date. (2) If the parties cannot agree on a time for settlement, the time to be nominated in the Workspace is 4pm AEST. (3) If any part of the Purchase Price is to be paid to discharge an Outgoing: (a) the Buyer may, by notice in writing to the Seller, require that the amount is paid to the Buyer’s Solicitor’s trust account and the Buyer is responsible for paying the amount to the relevant authority; (b) for amounts to be paid to destination accounts other than the Buyer’s Solicitor’s trust account, the Seller must give the Buyer a copy of the current account for the Outgoing to enable the Buyer to verify the destination account details in the Financial Settlement Schedule. (4) If the Deposit is required to discharge any Encumbrance or pay an Outgoing at settlement: (a) the Deposit Holder must, if directed by the Seller at least 2 Business Days prior to Settlementbefore settlement, pay the Deposit (and any interest accrued on investment of the Deposit) less commission as clear funds to the Seller’s Solicitor; (b) the Buyer and the Seller authorise the Deposit Holder to make the payment in clause 11.2(4)(a13.2(4)(a); (c) the Seller’s Solicitor will hold the money as Deposit Holder under the Contract; (d) the Seller and Buyer authorise the Seller’s Solicitor to pay the money as directed by the Seller in accordance with the Financial Settlement Schedule.