Insolvency Act Publication. 13.4.1 The Parties agree that notice of the Sale of Business will not be published as contemplated in section 34 of the Insolvency Act, 1936 (Act No. 24 of 1936) (as amended) (the “Insolvency Act”). 13.4.2 SANParks indemnifies the Private Party against any loss or damage which the Private Party may suffer as a result of notice of the Sale of Business not being published in terms of the Insolvency Act. 13.4.3 The Private Party warrants to SANParks that on Operation Commencement Date it will be registered as a “vendor” in terms of the VAT Act. The Private Party intends to carry on the Business continuously and regularly from the Operation Commencement Date and acknowledges that it reasonably expects this activity to result in taxable supplies in excess of R20 000 (twenty thousand Rand) over a period of 12 (twelve) months from the Operation Commencement Date.
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Samples: Public Private Partnership Agreement, Public Private Partnership Agreement, Public Private Partnership Agreement
Insolvency Act Publication. 13.4.1 The Parties agree that notice of the Sale of Business will not be published as contemplated in section 34 of the Insolvency Act, 1936 (Act No. 24 of 1936) (as amended) (the “Insolvency Act”).
13.4.2 SANParks indemnifies the Private Party against any loss or damage damage, which the Private Party may suffer as a result of notice of the Sale of Business not being published in terms of the Insolvency Act.
13.4.3 The Private Party warrants to SANParks that on Operation Commencement Date it will be registered as a “vendor” in terms of the VAT Act. The Private Party intends to carry on the Business continuously and regularly from the Operation Commencement Date and acknowledges that it reasonably expects this activity to result in taxable supplies in excess of R20 000 (twenty thousand Rand) over a period of 12 (twelve) months from the Operation Commencement Date.
Appears in 1 contract
Samples: Public Private Partnership Agreement
