Common use of Payment of the Purchase Price Clause in Contracts

Payment of the Purchase Price. 2.1 The purchase price shall be paid to the Seller as per clause 5 of the schedule of information. 2.2 Within 30 (thirty) days after being requested in writing to do so by the Seller’s conveyancer, the Purchaser shall deliver to the Seller’s conveyancer a written guarantee by a South African registered Commercial Bank acceptable to the Seller for the due payment of the amount stated in clause 5.2 of the schedule of information. The Purchaser hereby waives the right that the Seller can only call for a guarantee when the transfer is lodged in the Deeds office and hereby agrees that the Seller can request a guarantee at any time. 2.3 The conveyancer shall be entitled and obliged and is hereby authorised by the parties hereto in terms of Section 78(2) of the Xxxxxxxxx Xxx, 0000, to invest the deposit and any other amount paid to them in terms of clause 2 in an interest- bearing trust account, interest accruing to the Purchaser. The Purchaser hereby authorises the conveyancer to make payment to the Seller in accordance with clause 2 from any monies held on trust by them on behalf of the Purchaser. 2.4 All amounts payable by the Purchaser in terms of this agreement shall be paid to the Seller’s conveyancer free of exchange or commission and without deduction or set off in cash or by means of a bank guaranteed cheque or cheque drawn by a South African registered commercial bank.

Payment of the Purchase Price. 2.1 The purchase price shall be paid to the Seller as per clause 5 of the schedule of information. 2.2 Within 30 (thirty) days after being requested in writing to do so by the Seller’s conveyancer, the Purchaser shall deliver to the Seller’s conveyancer a written guarantee by a South African registered Commercial Bank acceptable to the Seller for the due payment of the amount stated in clause 5.2 of the schedule of information. The Purchaser hereby waives the right that the Seller can only call for a guarantee when the transfer is lodged in the Deeds office and hereby agrees that the Seller can request a guarantee at any time. 2.3 The conveyancer shall be entitled and obliged and is hereby authorised by the parties hereto in terms of Section 78(2) of the Xxxxxxxxx XxxAttorneys Act, 00001979, to invest the deposit and any other amount paid to them in terms of clause 2 in an interest- bearing trust account, interest accruing to the Purchaser. The Purchaser hereby authorises the conveyancer to make payment to the Seller in accordance with clause 2 from any monies held on trust by them on behalf of the Purchaser. 2.4 All amounts payable by the Purchaser in terms of this agreement shall be paid to the Seller’s conveyancer free of exchange or commission and without deduction or set off in cash or by means of a bank guaranteed cheque or cheque drawn by a South African registered commercial bank.

Payment of the Purchase Price. 2.1 The purchase price shall be paid to the Seller as per clause 5 of the schedule of information. 2.2 Within 30 (thirty) days after being requested in writing to do so by the Seller’s conveyancerConveyancer, the Purchaser shall deliver to the Seller’s conveyancer Conveyancer a written guarantee by a South African registered Commercial Bank acceptable to the Seller for the due payment of the amount stated in clause 5.2 of the schedule of information. The Purchaser hereby waives the right that the Seller can only call for a guarantee when the transfer is lodged in the Deeds office and hereby agrees that the Seller can request a guarantee at any time. 2.3 The conveyancer Conveyancer shall be entitled and obliged and is hereby authorised by the parties Parties hereto in terms of Section 78(286(4) of the Xxxxxxxxx XxxLegal Practice Act, 00002014 (Act 28 of 2014), to invest the deposit and any other amount paid to them in terms of clause 2 in an interest- interest-bearing trust account, interest accruing to the Purchaser. The Purchaser hereby authorises the conveyancer Conveyancer to make effect payment of the purchase price to the Seller in accordance with clause 2 from any monies held on trust by them on behalf registration of the Purchasertransfer. 2.4 All amounts payable by the Purchaser in terms of this agreement Agreement shall be paid to the Seller’s conveyancer Conveyancer free of exchange or commission and without deduction or set off in cash or by means of a bank guaranteed cheque or cheque drawn by a South African registered commercial bank.