Place for Payments. 7.1 The parties shall complete settlement by way of remote settlement, provided that where payment by bank cheque is permitted under the PLS Guidelines, payment may be made by the personal delivery of a bank cheque to the Vendor’s Lawyer’s office, so long as it is accompanied by the undertaking from the Purchaser’s Lawyer required by those Guidelines. 7.2 If due to delay of the Purchaser, settlement takes place between 4.00 pm and 5.00 pm on the Settlement Date (i.e. last minute settlement), the Purchaser shall pay the Vendor: (a) One day’s interest at the penalty interest rate on the portion of the purchase price paid in the last minute settlement; and (b) If the day following the last minute settlement is not a working day, an additional day’s interest (calculated in the same manner) for each day until, but excluding, the next working day.
Appears in 5 contracts
Samples: Sale and Purchase Agreement, Sale and Purchase Agreement, Sale and Purchase Agreement
