OCCUPATIONAL INTEREST. Should the Purchaser take possession of the Property prior to registration of transfer, the Purchaser shall pay occupational interest to the Seller, as stipulated in Schedule “1”. Occupational interest is payable in advance on the first day of every month, from date of possession until date of transfer, both days inclusive, payable directly to the Seller ‘s Attorney (reduced pro rata for any period less than a month).
OCCUPATIONAL INTEREST. 6.1 In the event of the PURCHASER being allowed by the SELLER (within the latter’s absolute discretion) to occupy the unit prior to the payment by the PURCHASER of the aforesaid full purchase price, referred to in Clause 3 (and likewise in the event of the PURCHASER occupying the unit without any approval of the SELLER), then the PURCHASER shall be obliged to pay occupational interest to the SELLER or his nominee on the purchase price, for each cycle of 30 (thirty) days of such occupation (or a pro rata portion thereof), whether occupation is for an interrupted or uninterrupted period, at the rate of 1,5% (one comma five percent) of the purchase price for such cycle of 30 (thirty) days, based on the purchase price on the FIRST day of each such cycle of 30 (thirty) days.
6.2 Payment is to be made in advance on the FIRST day of each such cycle of 30 (thirty) days at the address of the SELLER as set out above, with the first payment on date of possession. The pro rata share of the occupational interest shall be refunded to the PURCHASER by the SELLER should payment of the purchase price be made within the cycle of 30 (thirty) days.
OCCUPATIONAL INTEREST. Should the PURCHASER not take possession and occupation of the PROPERTY on date of Registration of Transfer as per clause 9.1 below and take earlier possession of the PROPERTY as per pre-agreed written agreement with the SELLER, the PURCHASER shall pay occupational interest to the SELLER, calculated at 12% (Twelve Percent) per annum on the balance of the purchase price payable in advance on the first day of every month, from date of possession until date of transfer, both days inclusive, payable directly to the SELLER’s Attorney (reduced pro rata for any period less than a month).
OCCUPATIONAL INTEREST. Should the PURCHASER take possession of the PROPERTY prior to registration of transfer, the PURCHASER shall pay occupational interest to the SELLER, calculated at R per month, payable in advance on the first day of every month, from date of possession until date of transfer, both days inclusive, payable directly to the SELLER’s Attorney (reduced pro rata for any period less than a month).
OCCUPATIONAL INTEREST. An amount being 0.8% (ZERO POINT EIGHT PERCENT) per month of the Purchase Price in 5 above.
OCCUPATIONAL INTEREST. The CESSIONARY shall only take possession and occupation of the PROPERTY on registration of transfer unless the CEDENT and CESSIONARY have agreed otherwise in writing in which case occupational rent shall be payable at a rate to be agreed in writing by the CEDENT and CESSIONARY.
OCCUPATIONAL INTEREST. 4.1 If the Purchaser obtains occupation of the Unit prior to the Transfer Date the Purchaser shall be liable for and shall pay to the Seller occupational interest for the period from the Occupation Date to the Transfer Date.
4.2 The occupational interest shall be calculated on the purchase price, at a rate equal to the prime rate of interest levied by Investec Bank Limited from time to time and which interest shall be calculated and be payable for the period from the Occupation Date to the last Day of the month in which the Occupation Date occurs and thereafter on the first Day of each and every month until the Transfer Date.
4.3 The interest shall be payable to the Seller or its agent monthly in advance at the offices of the Seller or its agent alternatively it shall be paid into the Conveyancer’s Trust Account.
OCCUPATIONAL INTEREST. From the Occupation Date until registration of transfer of the Unit into the name of the Purchaser, the Purchaser shall, irrespective of whether the Purchaser is in fact occupying the Unit or not, pay Occupational Interest to the Seller in the amount set out in paragraph 4 of the Transaction Cover, which Occupational Interest shall be paid monthly in advance from the Occupation Date to the date of transfer and pro-rated in respect of any portion of a month.
OCCUPATIONAL INTEREST. Should transfer take place after the Occupation Date, the Purchaser shall pay to the Seller occupational interest calculated on the purchase price at the Prime Rate from the date of occupation to date of transfer both dates inclusive, which rental shall be paid monthly in advance (on the first day of every calendar month) from the Occupation Date to the date of transfer aforesaid. In the event of registration of transfer being effected during the course of a calendar month, the Purchaser shall be refunded occupational interest overpaid. The Purchaser shall also be responsible for all electricity and (where applicable) water consumed in the unit as from the occupation date.
OCCUPATIONAL INTEREST. (Vide Clause 7.6) 1% (ONE PER CENTUM) of the full (VAT inclusive) purchase price per month.
