INSOLVENCY OF SELLER. 21.1 Notwithstanding any other provision of this contract, the Buyer acknowledges that the Seller shall not be in default of this Contract if the Seller has an administrator or liquidator or receiver appointed, or a mortgagee takes possession of the Land or the Seller is otherwise insolvent. The Buyer is not entitled to terminate the Contract as a result of any of the aforementioned events.
Appears in 3 contracts
Samples: baysidemoretonbay.com.au, gallerygroup.com.au, www.galleryhomes.com.au
INSOLVENCY OF SELLER. 21.1 Notwithstanding any other provision of this contract, the Buyer acknowledges that the Seller shall not be in default of this Contract if the Seller has an administrator or liquidator or receiver appointed, or a mortgagee takes possession of the Land or the Seller is otherwise insolvent. The Buyer is not entitled to terminate the Contract as a result of any of the aforementioned events.. DRAFT
Appears in 1 contract
Samples: harvestbaldhills.com.au
