Common use of Liability of Purchaser Clause in Contracts

Liability of Purchaser. 18.1 If the PURCHASER is more than 1 (one) person, then all the persons signing the agreement shall jointly, severally and in solidum be liable for the due performance of its obligations in terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions de duobus vel pluribus xxxx debendi. 18.2 If this agreement is entered into by the PURCHASER in a representative capacity, then the signatory binds himself as surety and co-principal debtor in favour of the represented party for the due performance of his principal in terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus xxxx debendi. 18.3 If this agreement is entered into by the signatory as Trustee for a Company or Close Corporation to be formed or already formed, or on behalf of himself or his nominee, then in that instance the signatory shall in his personal capacity as surety and co-principal debtor be liable for the due fulfilment of all the obligations of such party in terms of this agreement, specifically including but not limited to the payment of interest and or levies. i. the Close Corporation or Company to be formed is not formed before or on the date on which payment of the outstanding balance or guarantees in terms of clause 4 of this agreement is to be furnished; or ii. the Close Corporation or Company is formed, but does not ratify, adopt and accept this agreement; or iii. the Close Corporation of Company ratifies, adopts and accepts this agreement, but does not perform timeously in terms thereof; or iv. if a Close Corporation or Company which has already been formed and such Company and Close Corporation fail to perform timeously in terms of this agreement; or v. such party nominates another person and the person thus nominated does not accept or does accept the nomination, but fails to perform timeously in terms of this agreement. 18.4 The trustee referred to in 18.3 above hereby renounces all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus xxxx debendi. 18.5 If this agreement is entered into by the PURCHASER as the founder of a trust to be created, then the signatory binds himself as surety and co-principal debtor in favour of the represented party for the due performance by his principal of the terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus xxxx debendi.

Liability of Purchaser. 18.1 19.1 If the PURCHASER is more than 1 (one) person, then all the persons signing the agreement shall jointly, severally and in solidum be liable for the due performance of its obligations in terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions de duobus vel pluribus xxxx debendi. 18.2 19.2 If this agreement is entered into by the PURCHASER in a representative capacity, then the signatory binds himself as surety and co-principal debtor in favour of the represented party for the due performance of his principal in terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus xxxx debendi. 18.3 19.3 If this agreement is entered into by the signatory as Trustee for a Company or Close Corporation to be formed or already formed, or on behalf of himself or his nominee, then in that instance the signatory shall in his personal capacity as surety and co-principal debtor be liable for the due fulfilment of all the obligations of such party in terms of this agreement, specifically including but not limited to the payment of interest and or levies. i. the Close Corporation or Company to be formed is not formed before or on the date on which payment of the outstanding balance or guarantees in terms of clause 4 of this agreement is to be furnished; or ii. the Close Corporation or Company is formed, but does not ratify, adopt and accept this agreement; or iii. the Close Corporation of Company ratifies, adopts and accepts this agreement, but does not perform timeously in terms thereof; or iv. if a Close Corporation or Company which has already been formed and such Company and Close Corporation fail to perform timeously in terms of this agreement; or v. such party nominates another person and the person thus nominated does not accept or does accept the nomination, but fails to perform timeously in terms of this agreement. 18.4 19.4 The trustee referred to in 18.3 19.3 above hereby renounces all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus xxxx debendi. 18.5 19.5 If this agreement is entered into by the PURCHASER as the founder of a trust to be created, then the signatory binds himself as surety and co-principal debtor in favour of the represented party for the due performance by his principal of the terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus xxxx debendi.

Liability of Purchaser. 18.1 If For the PURCHASER purposes of this Article 6, it is understood that: (a) the Guarantors undertake to mitigate or reduce all claims which could give rise to Purchaser's or GTS's liability under this Agreement. Only Seller Losses in excess of Seller Losses that would have been incurred as a result of the Guarantors' failure to use their respective best efforts to mitigate such Seller Losses shall not be taken into consideration; (b) a Seller Loss that results from a change in the laws, regulations, interpretations or practices applicable to the Purchaser or GTS with effect after the date hereof shall not give rise to the payment of the Seller Indemnity; (c) with respect to Seller Losses resulting from claims made by third parties, only the amount which has been definitively and finally determined and paid according to a final, non-appealable and binding decision of any competent court, arbitral tribunal or administrative authority shall be taken into account for the calculation of the Indemnity; (d) neither the Purchaser nor GTS shall be liable with respect to a claim for any Seller Loss to the extent that such Seller Loss is actually recovered by the Guarantors from any third party (including insurance companies) or could have been recovered by the Guarantors had the Guarantors used their best efforts to mitigate such Seller Loss; (e) the Guarantors shall not be entitled to recover damages for any misrepresentation or for the breach of any of the representations and warranties under Articles 4 and 5 or otherwise obtain reimbursement or restitution more than 1 once in respect of the same facts or matters giving rise to such misrepresentation or breach; (onef) personno warranty in favor of the Guarantor, then all the persons signing the agreement shall jointlyother than those contained in this Agreement, severally and in solidum may be liable for the due performance of its obligations in terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions de duobus vel pluribus xxxx debendi. 18.2 If this agreement is entered into invoked by the PURCHASER Guarantor against the Purchaser; (g) Seller Losses that only result in (a) a representative capacity, then the signatory binds himself as surety and co-principal debtor in favour of the represented party for the due performance of his principal in terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus xxxx debendi. 18.3 If this agreement is entered into by the signatory as Trustee for a Company or Close Corporation to be formed or already formed, or on behalf of himself or his nominee, then in that instance the signatory shall in his personal capacity as surety and co-principal debtor be liable for the due fulfilment of all the obligations of such party in terms of this agreement, specifically charge being deferred (including but not limited to the payment following, a reassessment by the relevant authorities of interest and depreciation allowances or levies. i. reserves), (b) a profit being deferred from one tax year to another or (c) a tax credit being imputable will not be taken into account for the Close Corporation or Company to be formed is not formed before or on the date on which payment calculation of the outstanding balance Indemnity; (h) the Guarantors shall not be entitled to recover any Seller Loss or guarantees Losses for any misrepresentation and/or for any breach of any of the representations and warranties or otherwise obtain any reimbursement or restitution in terms respect of clause 4 any information which is accurately disclosed in this Agreement and any Appendixes hereto; (i) the Guarantors shall not be entitled to recover any Seller Loss or Losses for any misrepresentation and/or for any breach of any of the representations and warranties or otherwise obtain any reimbursement or restitution in respect of any information which is accurately disclosed in this Agreement and any Appendices hereto. For the avoidance of doubt, any disclosure made with respect to any representation or warranty made by the Purchaser hereunder shall apply to all other representations and warranties as if such disclosure was specifically made in respect thereof; The provisions of this agreement is Article 6.2 (ii) shall not be applicable to be furnished; or ii. the Close Corporation or Company is formed, but does not ratify, adopt and accept this agreement; or iii. the Close Corporation of Company ratifies, adopts and accepts this agreement, but does not perform timeously in terms thereof; or iv. if a Close Corporation or Company which has already been formed and such Company and Close Corporation fail to perform timeously in terms of this agreement; or v. such party nominates another person and the person thus nominated does not accept or does accept the nomination, but fails to perform timeously in terms of this agreement. 18.4 The trustee referred to in 18.3 above hereby renounces all benefits arising Seller Loss resulting from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus xxxx debendi. 18.5 If this agreement is entered into by the PURCHASER as the founder of a trust to be created, then the signatory binds himself as surety and co-principal debtor in favour any misrepresentation and/or for any breach of the represented party for the due performance by his principal of the terms of this agreement representations and the PURCHASER hereby renounces all benefits arising from the legal exceptions that may be applicablewarranties set forth in Articles 4.1, namely ordinis seu execusionis et divisionis 4.2, and de duobus vel pluribus xxxx debendi5.