Passing of Risk. (a) Upon Registration of the Purchaser against the Unit as per this Agreement within the Oqood Pre- registration System the Purchaser acknowledges that it shall share the risk of possession of the Unit with the Seller. (b) Provided that the Purchaser has fulfilled the Purchaser’s obligations under this Agreement, and subject to the provisions contained in this Agreement, the Purchaser shall have the right to, and bear the risk of, possession of the Unit from Completion. (c) The Seller will be entitled to refuse to hand-over possession and occupation of the Unit to the Purchaser if the Purchaser has failed to pay any monies owed under this Agreement or has failed to rectify any breach of any provision(s) of this Agreement. (d) All rights and risks in respect of the Unit will pass to the Purchaser on Completion, irrespective of whether or not the Purchaser has taken physical possession of the Unit. (e) The possession and risk with respect to the Building Common Areas will pass to the Purchaser in proportion to his/its Entitlement and further to Building Owners Association/Owners Committee upon its legal formation in accordance with the Applicable Law or the risk with respect to the Building Common Areas will pass to the Building Owners Association/Owners Committee on the appointment of the Building Manager.
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Samples: Sales Purchase Agreement, Sales Purchase Agreement, Sales Purchase Agreement
Passing of Risk. (a) Upon Registration of the Purchaser against the Unit as per this Agreement within the Oqood Pre- Pre-registration System the Purchaser acknowledges that it shall share the risk of possession of the Unit with the Seller.
(b) Provided that the Purchaser has fulfilled the Purchaser’s obligations under this Agreement, and subject to the provisions contained in this Agreement, the Purchaser shall have the right to, and bear the risk of, possession of the Unit from Completion.
(c) The Seller will be entitled to refuse to hand-over possession and occupation of the Unit to the Purchaser if the Purchaser has failed to pay any monies owed under this Agreement or has failed to rectify any breach of any provision(s) of this Agreement.
(d) All rights and risks in respect of the Unit will pass to the Purchaser on Completion, irrespective of whether or not the Purchaser has taken physical possession of the Unit.
(e) The possession and risk with respect to the Building Common Areas will pass to the Purchaser in proportion to his/its Entitlement and further to Building Owners Association/Owners Committee Association upon its legal formation in accordance with the Applicable Jointly Owned Property Law or the risk with respect to the Building Common Areas will pass to the Building Owners Association/Owners Committee Association on the appointment of the Building Manager.Association Manager.
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