Common use of Existing Lease Agreements Clause in Contracts

Existing Lease Agreements. 10.1 The PROPERTY is sold subject to all existing leases and vacant possession of the 10.2 The PURCHASER shall be bound by the terms and conditions of all existing leases, of which he acknowledges his is fully apprised alternatively which he has elected to accept and abide by. 10.3 The PURCHASER is aware of the provisionsof: 10.3.1 the “Restitution of Land Rights Act. 22 of1994”. 10.3.2 the “Land Reform (Labour Tenants) Act of1996”. 10.3.3 the “Extension of Security of Tenure Act 62 of1997” (ESTA) which regulate and/or secure the rights of tenure and occupation on land of any third party. Save as may be herein set out, the SELLER has not given any warranty or made any representations, whether express or implied, to the PURCHASER regarding the rights in law of any occupier or potential occupier or any third party in terms of the aforementioned Acts and more particularly, the PURCHASER indemnifies the SELLER against any claim or action which any occupier or claimant may bring in terms of the PROPERTY.