Common use of NATIONAL CREDIT ACT Clause in Contracts

NATIONAL CREDIT ACT. If this Agreement is subject to the National Credit Act 34 of 2005 (“the NCA”), the Purchaser warrants that: 28.1 Once the loan finance to be secured by a mortgage bond, is approved and the pre-agreement statement and quotation is accepted, the Purchaser shall not do anything that may cause the Purchaser to become over-indebted in terms of the NCA or cause the concerned bank to withdraw the said loan finance approval; 28.2 The Purchaser shall not do anything between the date of acceptance of the pre-agreement statement and quotation and registration of the mortgage bond which may cause the Purchaser’s financial situation to deteriorate; 28.3 At the time of signature of this Agreement, the Purchaser is not: 28.3.1 over-indebted; and/or 28.3.2 subject to debt review; and/or 28.3.3 subject to an administration order.

NATIONAL CREDIT ACT. If this Agreement is subject to the National Credit Act 34 of 2005 (“the NCA”), the Purchaser warrants that: 28.1 30.1 Once the loan finance to be secured by a mortgage bond, is approved and the pre-agreement statement and quotation bond, is approved is accepted, the Purchaser shall not do anything that may cause the Purchaser to become over-indebted in terms of the NCA or cause the concerned bank to withdraw the said loan finance approval; 28.2 30.2 The Purchaser shall not do anything between the date dat of acceptance of the pre-agreement statement and quotation and registration of the mortgage bond which may cause the Purchaser’s financial situation to deteriorate; 28.3 30.3 At the time of signature of this Agreement, the Purchaser is not: 28.3.1 30.3.1 over-indebted; and/or 28.3.2 30.3.2 subject to debt review; and/or 28.3.3 30.3.3 subject to an administration order.

NATIONAL CREDIT ACT. If this Agreement is subject to the National Credit Act 34 of 2005 (“the NCA”), the Purchaser warrants that: 28.1 31.1 Once the loan finance to be secured by a mortgage bond, is approved and the pre-agreement statement and quotation is accepted, the Purchaser shall not do anything that may cause the Purchaser to become over-indebted in terms of the NCA or cause the concerned bank to withdraw the said loan finance approval; 28.2 31.2 The Purchaser shall not do anything between the date of acceptance of the pre-agreement statement and quotation and registration of the mortgage bond which may cause the Purchaser’s financial situation to deteriorate; 28.3 31.3 At the time of signature of this Agreement, the Purchaser is not: 28.3.1 : 31.3.1 over-indebted; and/or 28.3.2 subject to debt review; and/or 28.3.3 subject to an administration order.