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.
Appears in 32 contracts
Samples: Contract for Houses and Residential Land, Contract for Residential Lots in a Community Titles Scheme, Contract for Houses and Residential Land
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.
Appears in 23 contracts
Samples: Contract for Residential Lots in a Community Titles Scheme, Contract for Residential Lots in a Community Titles Scheme, Contract for Houses and Residential Land
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.
(2) A party is not required to settle if Electronic Lodgement is not available. If the parties agree to Financial Settlement without Electronic Lodgement, settlement is deemed to occur at the time of Financial Settlement.
Appears in 16 contracts
Samples: Contract for Houses and Residential Land, Contract for Houses and Residential Land, Contract for Houses and Residential Land
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.
(2) A party is not required to settle if Electronic Lodgement is not available. If the parties agree to Financial Settlement without Electronic Lodgement, settlement is deemed to occur at the time of Financial Settlement.
Appears in 1 contract
Samples: Contract for Sale
