EXISTING TENANCIES Sample Clauses
The 'Existing Tenancies' clause defines how current leases or occupancy agreements affecting a property are to be handled during a sale or transfer. It typically outlines the rights and obligations of both the buyer and seller regarding tenants who are already in possession, such as whether the buyer must honor existing leases or if the seller must ensure vacant possession. This clause is essential for clarifying the status of occupants at completion and helps prevent disputes by specifying whether the property will be delivered with tenants in place or free of them.
EXISTING TENANCIES. 13.1 The Property is sold subject to all existing tenancies and vacant possession of the Property is not given or guaranteed.
13.2 The Purchaser shall be bound by the terms and conditions of all existing leases, of which he acknowledges he is fully apprised alternatively which he has accepted to be assigned to the Purchaser.
13.3 The Purchaser is aware of the provisions of: 13.3.1 the Restitution of Land Rights Act 22 of 1994;
EXISTING TENANCIES. The PURCHASER shall not be bound by the terms and conditions of any existing leases.
EXISTING TENANCIES. The PROPERTY is currently being sold with vacant occupation on registration of transfer.
EXISTING TENANCIES. 11.1 The PROPERTY is sold subject to all existing tenancies.
11.2 The PURCHASER shall be bound by the terms and conditions of all existing leases, of which he acknowledges he is fully apprised.
11.3 The SELLER shall hand over copies of all leases in his possession and agrees to not make any change to these leases upon acceptance of this offer prior to registration of transfer.
11.4 The SELLER will provide a schedule of all deposits held and hereby authorises the SELLER’s Attorney to pay the value of deposits and all accrued interest as at registration, from the proceeds of the sale, to the PURCHASER.
EXISTING TENANCIES. To the best of Seller's actual knowledge, there are no leases or tenancies affecting all or any part of the Property. There are no written or oral promises, understandings, agreements or other commitments between SELLER, and any tenant or any other person, affecting the Assets which have not been disclosed, in writing, to BUYER.
EXISTING TENANCIES. To the best of LESSOR's actual knowledge, there are no leases or tenancies affecting all or any part of the Premises. There are no written or oral promises, understandings, agreements or other commitments between LESSOR any tenant or any other person affecting the Assets which have not been disclosed, in writing, to LESSEE.
EXISTING TENANCIES. 15.1. The PROPERTY is currently being let to tenant/s other than the
15.2. The PURCHASER shall be bound by the terms and conditions of all existing leases, of which he acknowledges he is fully apprised alternatively which he has elected to accept and abide by.
15.3. The PURCHASER acknowledges herewith that he has conducted a complete due diligence on the tenant/s in particular as far as deposits are concerned including the rental payment history and general conduct of the tenant/s during his/their tenure at the premises.
15.4. From the date of acceptance until the transfer date:-
15.4.1. the SELLER shall be entitled to conduct the business in the ordinary course of business and without recourse to the PURCHASER;
15.4.2. if any tenant is in arrears with rental due to the SELLER in respect of the Leases, the SELLER shall be entitled to proceed with or take :-
15.4.2.1. any legal action or other proceedings against the tenant; and
15.4.2.2. a civil judgment against the tenant and/or evict the tenant from the leased premises concerned;
15.4.2.3. enforce any of its rights in terms of the Leases.
15.4.3. in the event that the SELLER enters into a new lease agreement in respect of the Properties and/or Buildings or renews the existing Leases, the PURCHASER shall be liable for the pro- rata commissions and tenant installation costs related thereto for the period of such leases or renewal beyond the date of transfer;
15.5. Neither the SELLER nor the AGENT guarantee any vacant occupation.
15.6. Occupancy of the PROPERTY by the PURCHASER or persons on the authority of the PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
EXISTING TENANCIES. 10.1 The PROPERTY is sold without any existing tenancies.
10.2 The SELLER nor the AGENT guarantee any vacant occupation.
10.3 Occupancy of the PROPERTY by the PURCHASER or persons on the authority of the PURCHASER shall not create a tenancy either in terms of any statutory provision or at common law.
EXISTING TENANCIES. 13.1 The Property is sold subject to all existing tenancies and vacant possession of the Property is not given or guaranteed. The Purchaser shall be bound by the terms and conditions of all existing leases, of which he acknowledges he is fully apprised alternatively which he has accepted to be assigned to the Purchaser. The Purchaser is aware of the provisions of: the Restitution of Land Rights Act 22 of 1994; the Land Reform (Labour Tenants) Act 3 of 1996; the Extension of Security of Tenure Act 62 of 1997, 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, that such rights may not exist. The Purchaser indemnifies the Seller against any claim or action which any occupier may bring in terms of the Property.
EXISTING TENANCIES. 9.1 The PROPERTY is sold subject to all existing tenancies.
9.2 The PURCHASER shall be bound by the terms and conditions of all existing leases, of which he acknowledges he is fully apprised.
9.3 The PURCHASER shall not be entitled to give notice to any existing tenant of the PROPERTY until he has complied with clause 3.4.