Common use of Minimum Sales Clause in Contracts

Minimum Sales. 26.1.1. It is recorded that the Scheme will comprise Sections. This Agreement is made subject to the Seller selling Sections in the Scheme to a value of at least 80% (Eighty) percent of the aggregate value of all Sections in the Scheme within 12 (Twelve) months after the date that marketing commenced. For purposes of this Clause "sell" will mean the coming into existence of a deed of sale between the Seller and the Purchaser, which is not subject to the condition precedent referred to in Clause 6 and/or Clause 29, or in respect of which such condition precedent, if imposed, has been fulfilled. 26.1.2. In the event of the aforesaid condition not being fulfilled within the abovementioned time-period, the time-period will automatically be extended with a maximum period of 6 (Six) months after the Due Date, or such longer period as the Parties may agree to in writing (the Extended Date). 26.1.3. It is recorded that this condition precedent is inserted solely for the benefit of the Seller. The Seller may waive the benefit of this condition. 26.1.4. In the event of this condition not being fulfilled, the Seller will refund the Purchaser all amounts paid in terms of this Agreement.

Minimum Sales. 26.1.1. It is recorded that the Scheme will comprise Sections. This Agreement is made subject to the Seller selling Sections in the Scheme to a value of at least 8040% (EightyForty) percent of the aggregate value of all Sections in the Scheme within 12 6 (TwelveSix) months after the date that marketing commenced. For purposes of this Clause "sell" will mean the coming into existence of a deed of sale between the Seller and the Purchaser, which is not subject to the condition precedent referred to in Clause 6 and/or Clause 29, or in respect of which such condition precedent, if imposed, has been fulfilled. 26.1.2. In the event of the aforesaid condition not being fulfilled within the abovementioned time-period, the time-period will automatically be extended with a maximum period of 6 (Six) months after the Due Date, or such longer period as the Parties may agree to in writing (the Extended Date). 26.1.3. It is recorded that this condition precedent is inserted solely for the benefit of the Seller. The Seller may waive the benefit of this condition. 26.1.4. In the event of this condition not being fulfilled, the Seller will refund the Purchaser all amounts paid in terms of this Agreement.

Minimum Sales. 26.1.1. It is recorded that the Scheme will comprise Sections. This Agreement is made subject to the Seller selling Sections in the Scheme to a value of at least 80% (Eighty) percent of the aggregate value of all Sections in the Scheme within 12 (Twelve) months after the date that marketing commenced. For purposes of this Clause "sell" will mean the coming into existence of a deed of sale between the Seller and the Purchaser, which is not subject to the condition precedent referred to in Clause 6 and/or Clause 29, or in respect of which such condition precedent, if imposed, has been fulfilled. 26.1.2. In the event of the aforesaid condition not being fulfilled within the abovementioned time-time period, the time-time period will automatically be extended with a maximum period of 6 (Six) months after the Due Date, or such longer period as the Parties may agree to in writing (the Extended Date). 26.1.3. It is recorded that this condition precedent is inserted solely for the benefit of the Seller. The Seller may waive the benefit of this condition. 26.1.4. In the event of this condition not being fulfilled, the Seller will refund the Purchaser all amounts paid in terms of this Agreement.

Minimum Sales. 26.1.1. It is recorded that the Scheme will comprise Sectionsbe a phased development as set out in Clause 31. This Agreement is made subject to the Seller selling Sections in the Scheme to a value of at least 80% (Eighty) percent of the aggregate value of all Sections in the Scheme within 12 (Twelve) months after the date that marketing commenced. For purposes of this Clause "sell" will mean the coming into existence of a deed of sale between the Seller and the Purchaser, which is not subject to the condition precedent referred to in Clause 6 and/or Clause 29, or in respect of which such condition precedent, if imposed, has been fulfilled. 26.1.2. In the event of the aforesaid condition not being fulfilled within the abovementioned time-time period, the time-time period will automatically be extended with a maximum period of 6 (Six) months after the Due Date, or such longer period as the Parties may agree to in writing (the Extended Date). 26.1.3. It is recorded that this condition precedent is inserted solely for the benefit of the Seller. The Seller may waive the benefit of this condition. 26.1.4. In the event of this condition not being fulfilled, the Seller will refund the Purchaser all amounts paid in terms of this Agreement.

Minimum Sales. 26.1.128.1.1. It is recorded that the Scheme will comprise Residential Sections. This Agreement is made subject to the Seller selling Residential Sections in the Scheme to a value of at least 80% (Eighty( ) percent of the aggregate value of all Residential Sections in the Scheme within 12 (TwelveSchemewithin ( ) months after or the date that marketing commenced. For purposes of this Clause "sell" will mean the coming into existence of a deed of sale between the Seller and the Purchaser, which is not subject to the condition precedent referred to in Clause 6 and/or Clause 29above, or in respect of which such condition precedent, if imposed, has been fulfilled. 26.1.228.1.2. In the event of the aforesaid condition not being fulfilled within the abovementioned time-time period, the time-time period will automatically be extended with a maximum period of 6 (Six( ) months after the Due DateDate for fulfillment thereof, or such longer period as the Parties may agree to in writing (the Extended Date)writing. 26.1.328.1.3. It is recorded that this condition precedent is inserted solely for the benefit of the Seller. The Seller may waive the benefit of this conditionthiscondition by communicating such waiver to the Purchaser in writing. 26.1.428.1.4. In the event of this condition not being fulfilledfulfilled or waived, the Seller will refund the Purchaser all amounts paid in terms of this Agreement.