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.
Appears in 5 contracts
Samples: Memorandum of Agreement, Memorandum of Agreement, Memorandum of Agreement
