LOAN FROM FINANCIAL INSTITUTION Sample Clauses

LOAN FROM FINANCIAL INSTITUTION. 2.1 This Agreement is subject to the Buyer obtaining a loan in principle, from a South African commercial bank for the amount stated in 1.8 of the Schedule and receiving a copy of the written approval of such loan by the aforesaid commercial bank, both by no later than the date stated in 1.9 of the Schedule, failing which this Agreement shall lapse and be of no further force and effect. 2.2 The Buyer undertakes forthwith to apply to a financial institution for the loan referred to in paragraph 2.1 above and undertakes to sign all documents and do all things as are necessary to implement the conditions of loan and the registration of the mortgage bond relating to the loan.
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LOAN FROM FINANCIAL INSTITUTION. 2.1 This CONTRACT is subject to and conditional upon the PURCHASER obtaining a loan in principle from a South African commercial bank or Lending Entity for the amount stated in 1.3.4 of the AGREEMENT and the SELLER receiving a copy of the written approval of such loan by the aforesaid commercial bank or entity, both by no later than the date stated in 1.3.4 of the AGREEMENT. Should the aforesaid loan not be granted by the date stated in 1.3.5 of the AGREEMENT or should the SELLER not receive a copy of the written approval by the aforesaid commercial bank of such loan by the date stated in 1.3.4 of the AGREEMENT, then in that event, this AGREEMENT shall lapse and be of no further force and effect between the parties. In the event of the AGREEMENT lapsing as contemplated above, the SELLER shall forthwith repay or procure the repayment of all amounts paid by the PURCHASER in respect of the purchase consideration of the PROPERTY. It is recorded that this clause has been inserted for the benefit of both the SELLER and the PURCHASER. 2.2 It is the intention of the SELLER and the PURCHASER that the CONVEYANCERS be appointed by the bank, granting the loan referred to in paragraph 2.1, to attend to the registration of the mortgage bond over the PROPERTY in favour of the aforesaid bank, on the DATE OF TRANSFER. The PURCHASER undertakes to utilize its best endeavours to prevail upon the aforesaid bank to appoint the CONVEYANCERS in this regard.
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LOAN FROM FINANCIAL INSTITUTION. If the PURCHASER requires a loan for the amount stated in 1.5 of the CONTRACT OF SALE, the PURCHASER undertakes forthwith to apply for the said loan and if such loan is not granted by the date stated in 1.5 of the CONTRACT OF SALE or by such later date as the parties may agree to in writing, then this CONTRACT shall lapse and be of no further force or effect and the SELLER shall forthwith repay or procure the repayment of all amounts paid by the PURCHASER in respect of the purchase consideration of the PROPERTY.
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LOAN FROM FINANCIAL INSTITUTION. 2.1. If this CONTRACT is subject to the PURCHASER obtaining a loan of not less than the amount stated in 1.12 of the CONTRACT OF SALE, the PURCHASER undertakes forthwith to apply for the said loan and if such loan is not granted in principal, by the date stated in 1.13 of the CONTRACT OF SALE or by such later date as the SELLER may agree to in writing, then in that event this CONTRACT shall lapse and be of no further force and effect between the parties. If this CONTRACT is so terminated, the SELLER shall forthwith repay or procure the repayment of all amounts paid by the PURCHASER in respect of the purchase consideration of the UNIT, less any administration fee charged by the CONVEYANCERS, excluding however any non-refundable price paid in respect of any agreement whereby the PURCHASER acquired a right of Pre-Emption in respect of the UNIT. It is recorded that this clause has been inserted for the benefit of both the SELLER and the PURCHASER. 2.2. The PURCHASER shall make application to a South African commercial bank for the aforesaid loan as soon as possible after the DATE OF SIGNATURE and undertakes, in good faith, to do whatever else may be reasonably required in order to ensure the aforesaid loan is granted timeously.
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LOAN FROM FINANCIAL INSTITUTION. 2.1 If the SUBLEASEE requires a loan for any portion of the amount stated in 1.3 of the SUBLEASE AGREEMENT, the SUBLEASEE undertakes forthwith to apply for the said loan and if such loan is not granted, within 30 days of signature of this SUBLEASE AGREEMENT. If payments are not received on dates detailed in 1.4, the SUBLEASOR shall be entitled to terminate the SUBLEASE AGREEMENT and the SUBLEASEE shall forfeit all payments made. 2.2 Should the SUBLEASEE require a loan to fund the payment of the purchase price or part thereof, as contemplated in paragraph 2.1 above, the SUBLEASEE shall be obliged to make an application through ………………It is recorded however that the SUBLEASEE shall not be limited to in making such application for the loan and may make other applications if it so requires. The SUBLEASEE shall not be obliged to accept any loan granted through its application to ……………
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LOAN FROM FINANCIAL INSTITUTION. 2.1. This CONTRACT is not subject to or conditional upon the Purchaser obtaining a loan from a South African commercial bank. 2.2. The Purchaser shall however be entitled to make application to a South African commercial bank for the aforesaid loan as soon as possible after the Date of Signature, and undertakes, in good faith, to do whatever else may be reasonably required in order to ensure the aforesaid loan is granted timeously.
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LOAN FROM FINANCIAL INSTITUTION. 2.1 This CONTRACT is subject to and conditional upon the PURCHASER obtaining a loan in principle from a South African commercial bank or Lending Entity for the amount stated in 1.3.4 of the AGREEMENT and the SELLER receiving a copy of the written approval of such loan by the aforesaid commercial bank or entity, both by no later than the date stated in
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LOAN FROM FINANCIAL INSTITUTION. It is specifically recorded that the Contract is not subject to, or conditional upon, the Purchaser obtaining a loan.
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Related to LOAN FROM FINANCIAL INSTITUTION

  • EEA Financial Institution No Loan Party is an EEA Financial Institution.

  • EEA Financial Institutions No Loan Party is an EEA Financial Institution.

  • Affected Financial Institution No Loan Party is an Affected Financial Institution.

  • Affected Financial Institutions No Loan Party is an Affected Financial Institution.

  • Financial Institutions Notwithstanding this Article 3, any party may provide Confidential Information to any financial institution in connection with borrowings from such financial institution by such party or any of its Controlled Related Parties, so long as prior to any such disclosure such financial institution executes a confidentiality agreement that provides protection substantially equivalent to the protection provided the parties in this Article 3.

  • Location of Financial Institution Regardless of any provision in any other agreement, for purposes of the UCC, New York will be the location of the bank for purposes of Sections 9-301, 9-304 and 9-305 of the UCC and the securities intermediary for purposes of Sections 9-301 and 9-305 and Section 8-110 of the UCC.

  • Reliance by Financial Institution The Financial Institution is not obligated to investigate or inquire whether the Secured Party may deliver a Secured Party Order. The Financial Institution may rely on communications (including Secured Party Orders) believed by it in good faith to be genuine and given by the proper party.

  • FINANCIAL INSTITUTION’S LIABILITY Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Financial Institution The Financial Institution will not be liable under this Agreement, except for (i) its own willful misconduct, bad faith or negligence or (ii) breach of its representations and warranties in this Agreement. The Financial Institution will not be liable for special, indirect or consequential losses or damages (including lost profit), even if the Financial Institution has been advised of the likelihood of the loss or damage and regardless of the form of action.

  • Acknowledgement and Consent to Bail-In of EEAAffected Financial Institutions Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEAAffected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEAthe applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: (a) the application of any Write-Down and Conversion Powers by an EEAthe applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEAAffected Financial Institution; and (b) the effects of any Bail-in Action on any such liability, including, if applicable: (i) a reduction in full or in part or cancellation of any such liability; (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEAAffected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or (iii) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEAthe applicable Resolution Authority.

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