Common use of MORTGAGE FINANCE Clause in Contracts

MORTGAGE FINANCE. 3.1 This sale shall be subject to and conditional upon the Purchaser procuring the Mortgage Loan from a bank or other financial institution no later than the date provided for in clause (d) of the Schedule or such extended period as the Seller in its sole discretion may determine. 3.2 In the event that a loan is approved for an amount less than the Mortgage Loan and the Purchaser accepts such lesser amount, the Purchaser undertakes to furnish the Seller's Conveyancers with either payment or a bank guarantee for the shortfall within 14 (fourteen) days from the date of the granting of the aforesaid loan. 3.3 The Purchaser hereby undertakes timeously to do all such things and to sign all such documents as may be necessary to apply for and procure the approval of the Mortgage Loan from a bank or other financial institution and to furnish written proof to the Seller of the granting or refusal thereof. 3.4 The suspensive condition pertaining to the Mortgage Loan shall be deemed to be fulfilled upon the issue by the bank or financial institution of a letter of final grant or accepted quotation. 3.5 In the event that the condition in clause 3.1 is not fulfilled, this Agreement shall be of no force or effect and neither party shall have any claim against the other, except that: 3.5.1 the Seller shall instruct the Conveyancers or the Agent to refund to the Purchaser the Deposit with accrued interest; 3.5.2 The Purchaser shall be obliged to immediately vacate the Property. 3.6 The Conveyancers shall attend to the registration of the mortgage bond required as security for such loan.

MORTGAGE FINANCE. 3.1 1. This sale shall be subject to and conditional upon the Purchaser procuring the Mortgage Loan from a bank or other financial institution no later than the date provided for in clause (d) of the Schedule or such extended period as the Seller Developer in its sole discretion may determine. 3.2 2. In the event that a loan is approved for an amount less than the Mortgage Loan and the Purchaser accepts such lesser amount, the Purchaser undertakes to furnish the Seller's Conveyancers with either payment or a bank guarantee for the shortfall within 14 7 (fourteenseven) days from the date of the granting of the aforesaid loan. 3.3 3. The Purchaser hereby undertakes timeously to do all such things and to sign all such documents as may be necessary to apply for and procure the approval of the Mortgage Loan from a bank or other financial institution and to furnish written proof to the Seller Developer of the granting or refusal thereof. 3.4 4. The suspensive condition pertaining to the Mortgage Loan shall be deemed to be fulfilled upon the issue by the bank or financial institution of a letter of final grant or accepted quotation. 3.5 5. In the event that the condition in clause 3.1 is not fulfilled, this Agreement shall be of no force or effect and neither party shall have any claim against the other, except that: 3.5.1 the Seller Developer shall instruct the Conveyancers or the Agent to refund to the Purchaser the Deposit with accrued interest; 3.5.2 The Purchaser shall be obliged to immediately vacate the Property. 3.6 The Conveyancers shall attend to the registration of the mortgage bond required as security for such loan.

MORTGAGE FINANCE. 3.1 This sale shall be subject to and conditional upon the Purchaser procuring the Mortgage Loan from a bank or other financial institution no later than the date provided for in clause (d) of the Schedule or such extended period as the Seller Developer in its sole discretion may determine. 3.2 In the event that a loan is approved for an amount less than the Mortgage Loan and the Purchaser accepts such lesser amount, the Purchaser undertakes to furnish the Seller's Conveyancers with either payment or a bank guarantee for the shortfall within 14 7 (fourteenseven) days from the date of the granting of the aforesaid loan. 3.3 The Purchaser hereby undertakes timeously to do all such things and to sign all such documents as may be necessary to apply for and procure the approval of the Mortgage Loan from a bank or other financial institution and to furnish written proof to the Seller Developer of the granting or refusal thereof. 3.4 The suspensive condition pertaining to the Mortgage Loan shall be deemed to be fulfilled upon the issue by the bank or financial institution of a letter of final grant or accepted quotation. 3.5 In the event that the condition in clause 3.1 is not fulfilled, this Agreement shall be of no force or effect and neither party shall have any claim against the other, except that: 3.5.1 the Seller Developer shall instruct the Conveyancers or the Agent to refund to the Purchaser the Deposit with accrued interest; 3.5.2 The Purchaser shall be obliged to immediately vacate the Property. 3.6 The Conveyancers shall attend to the registration of the mortgage bond required as security for such loan.

MORTGAGE FINANCE. 3.1 This sale shall be subject to and conditional upon the Purchaser procuring the Mortgage Loan from a bank or other financial institution no later than the date provided for in clause (d) of the Schedule or such extended period as the Seller Developer in its sole discretion may determine. 3.2 In the event that a loan is approved for an amount less than the Mortgage Loan and the Purchaser accepts such lesser amount, the Purchaser undertakes to furnish the Seller's Conveyancers with either payment or a bank guarantee for the shortfall within 14 7 (fourteenseven) days from the date of the granting of the aforesaid loan. 3.3 The Purchaser hereby undertakes timeously to do all such things and to sign all such documents as may be necessary to apply for and procure the approval of the Mortgage Loan from a bank or other financial institution and to furnish written proof to the Seller Developer of the granting or refusal thereof. 3.4 The suspensive condition pertaining to the Mortgage Loan shall be deemed to be fulfilled upon the issue by the bank or financial institution of a letter of final grant in principle or accepted a pre-agreement statement and quotation. 3.5 In the event that the condition in clause 3.1 is not fulfilled, this Agreement shall be of no force or effect and neither party shall have any claim against the other, except that: 3.5.1 the Seller Developer shall instruct the Conveyancers or the Agent to refund to the Purchaser the Deposit with accrued interest; 3.5.2 The Purchaser shall be obliged to immediately vacate the Property. 3.6 The Conveyancers shall attend to the registration of the mortgage bond required as security for such loan.

MORTGAGE FINANCE. 3.1 This sale shall be subject to and conditional upon the Purchaser procuring the Mortgage Loan from a bank or other financial institution no later than the date provided for in clause (d) of the Schedule or such extended period as the Seller Owner in its sole discretion may determine. 3.2 In the event that a loan is approved for an amount less than the Mortgage Loan and the Purchaser accepts such lesser amount, the Purchaser undertakes to furnish the SellerOwner 's Conveyancers with either payment or a bank guarantee for the shortfall within 14 7 (fourteenseven) days from the date of the granting of the aforesaid loan. 3.3 The Purchaser hereby undertakes timeously to do all such things and to sign all such documents as may be necessary to apply for and procure the approval of the Mortgage Loan from a bank or other financial institution and to furnish written proof to the Seller Owner of the granting or refusal thereof. 3.4 The suspensive condition pertaining to the Mortgage Loan shall be deemed to be fulfilled upon the issue by the bank or financial institution of a letter of final grant in principle or accepted a pre-agreement statement and quotation. 3.5 In the event that the condition in clause 3.1 is not fulfilled, this Agreement shall be of no force or effect and neither party shall have any claim against the other, except that: 3.5.1 the Seller Owner shall instruct the Conveyancers or the Agent to refund to the Purchaser the Deposit with accrued interest; 3.5.2 The Purchaser shall be obliged to immediately vacate the Property. 3.6 The Conveyancers shall attend to the registration of the mortgage bond required as security for such loan.