Common use of Computer System Unavailable Clause in Contracts

Computer System Unavailable. If settlement fails and cannot occur by 4pm AEST on the Settlement Date because a computer system operated by the Land Registry, Queensland Revenue Office, Reserve Bank, a Financial Institution or the relevant ELNO System is inoperative or unavailable, neither party is in default and the Settlement Date is deemed to be the next Business Day. Time remains of the essence.

Computer System Unavailable. If settlement fails and cannot occur by 4pm AEST on the Settlement Date because a computer system operated by the Land Registry, Queensland Revenue OfficeOffice of State Revenue, Reserve Bank, a Financial Institution or the relevant ELNO System is inoperative or unavailableinoperative, neither party is in default and the Settlement Date is deemed to be the next Business Day. Time remains of the essence.

Computer System Unavailable. (1) If settlement fails and cannot occur by 4pm AEST on the Settlement Date because a computer system operated by the Land Registry, Queensland Revenue OfficeOffice of State Revenue, Reserve Bank, a Financial Institution or the relevant ELNO System XXXX is inoperative or unavailableinoperative, neither party is in default and the Settlement Date is deemed to be the next Business Day. Time remains of the essence.

Computer System Unavailable. (1) If settlement fails and cannot occur by 4pm AEST on the Settlement Date because a computer system operated by the Land Registry, Queensland Revenue OfficeOffice of State Revenue, Reserve Bank, a Financial Institution Bank or the relevant ELNO System XXXX is inoperative or unavailableinoperative, neither party is in default and the Settlement Date is deemed to be the next Business Day. Time remains of the essence.