Common use of CONDITION PRECEDENT IN FAVOUR OF THE SELLER Clause in Contracts

CONDITION PRECEDENT IN FAVOUR OF THE SELLER. 23.1. This Agreement is subject to the following conditions: 23.1.1. The Seller successfully pre-selling 85% (Eighty Five percent) of the units within the period specified in its agreement of sale with the registered owner of the Erf, or such extended period as the parties may agree to in writing; 23.1.2. The Erf being transferred into the Seller’s name. 23.1.3. The Seller obtaining approval substantially in accordance with the draft plans attached hereto. 23.1.4. The Seller obtaining approval of the Sectional Title Plan by the Surveyor-General as well as the opening of the Sectional Title Register in the Cape Town Deeds Registry on or before the Transfer Date.