Common use of Payment Due to Resident by Scheme Operator Clause in Contracts

Payment Due to Resident by Scheme Operator. 3.7.1 Subject to Clauses 4.1 and 19.1 the Scheme Operator will, within fourteen (14) days from the day upon which it receives the Ingoing Contribution from a New Resident on the sale of the right to reside in the Accommodation Unit, pay to the Resident the Resident’s Exit Entitlement.

Payment Due to Resident by Scheme Operator. 3.7.1 Subject to Clauses 4.1 and 19.1 the Scheme Operator will, within fourteen (14) days from the day upon which it receives the Ingoing Contribution from a New Resident on the sale of the right to reside in the Accommodation Unit, pay to the Resident the Resident’s Exit Entitlement.