Approval of Agreement The Board of Directors of the Company has authorized the execution and delivery of this Agreement by the Company and has approved this Agreement and the transactions contemplated hereby.
Construction and Scope of Agreement The language of all parts of this Agreement shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against any party. This Agreement is the only, sole, entire, and complete agreement of the parties relating in any way to the subject matter hereof. No statements, promises, or representations have been made by any party to any other, or relied upon, and no consideration has been offered or promised, other than as may be expressly provided herein. This Assumption of Risk, Release of Claims, Indemnification, and Hold Harmless and Agreement supersedes any earlier written or oral understandings or agreements between the parties. Participant acknowledges that he/she has read this Assumption of Risk, Release of Claims, Indemnification and Hold Harmless Agreement, understands its meaning and effect, and agrees to be bound by it. Date:
LOCATION AND DESCRIPTION OF THE PROPERTY The subject property is a two (2) bedroom service apartment unit bearing postal address of #08-08, Block B, Pangsapuri Xxxxx Xxxxxx, Jalan Xxxxxx, 80350 Johor Bahru, Johor Darul Takzim. RESERVE PRICE: The subject property will be sold on an “as is where is basis” and subject to a reserve price of RM333,000.00 (RINGGIT MALAYSIA THREE HUNDRED AND THIRTY THREE THOUSAND ONLY) and subject to the Conditions of Sale and by way of an Assignment from the above Assignee/Bank to the consent being obtained by the Purchaser from the Developer and other relevant authorities if any, including all terms, conditions, stipulations and covenants which were and may be imposed by the Developer and the relevant authorities. Any arrears of quit rent, assessments and service or maintenance charges which may be lawfully due to any relevant authority or the Developer up to the date of auction sale of the property shall be paid out of the purchase money upon receipt of full purchase price. All other fees, costs and charges relating to the transfer and assignment of the property shall be borne by the successful Purchaser. All intending bidders are required to deposit 10% of the fixed reserve price for the said property by Bank Draft or Cashier’s Order in favour of UOBM for XXXXX XXX SHENG on the day of auction sale. The balance of the purchase money shall be paid by the Purchaser within one hundred and twenty (120) days from the date of auction sale to UNITED OVERSEAS BANK (MALAYSIA) BHD via Real Time Electronics Transfer of Funds and Securities (XXXXXX). Online bidders are further subject to the Terms and Conditions on xxxx.xxxxxxxx.xxx.xx.