Entitlement to Deposit and Interest. (1) The party entitled to receive the Deposit is: (a) if this contract settles, the Seller; (b) if this contract is terminated without default by the Buyer, the Buyer; and (c) if this contract is terminated owing to the Buyer’s default, the Seller. (2) The interest on the Deposit must be paid to the person who is entitled to the Deposit. (3) If this contract is terminated, the Buyer has no further claim once it receives the Deposit and interest, unless the termination is due to the Seller’s default or breach of warranty. (4) The Deposit is invested at the risk of the party who is ultimately entitled to it.
Appears in 47 contracts
Samples: Contract for Houses and Residential Land, Contract for Houses and Residential Land, Contract for Houses and Residential Land
Entitlement to Deposit and Interest. (1) The party entitled to receive the Deposit is:
(a) if this contract settles, the Seller;
(b) if this contract is terminated without default by the Buyer, the Buyer; and
(c) if this contract is terminated owing to the Buyer’s default, the Seller.
(2) The interest on the Deposit must be paid to the person who is entitled to the Deposit.
(3) If this contract is terminated, the Buyer has no further claim once it receives the Deposit and interest, interest unless the termination is due to the Seller’s default or breach of warranty.
(4) The Deposit is invested at the risk of the party who is ultimately entitled to it.
Appears in 12 contracts
Samples: Contract for Residential Lots in a Community Titles Scheme, Contract for Residential Lots in a Community Titles Scheme, Contract for Residential Lots in a Community Titles Scheme
Entitlement to Deposit and Interest. (1) The party entitled to receive the Deposit is:
(a) if this contract settles, the Seller;
(b) if this contract is terminated without default by the Buyer, the Buyer; and;
(c) if this contract is terminated owing to the Buyer’s 's default, the Seller.
(2) The interest on the Deposit must be paid to the person who is entitled to the Deposit.
(3) If this contract is terminated, the Buyer has no further claim once it receives the Deposit and interest, interest unless the termination is due to the Seller’s 's default or breach of warranty.
(4) The Deposit is invested at the risk of the party who is ultimately entitled to it.
Appears in 1 contract
Samples: Contract for Residential Lots in a Community Titles Scheme
