Common use of POSSESSION AND OCCUPATION Clause in Contracts

POSSESSION AND OCCUPATION. 7.1 The Purchaser shall be placed in possession and occupation of the Property on the Date of the delivery of a unconditional guarantee issued by a South African financial institution from which date the Property will be at the sole risk, profit or loss of the Purchaser. The Seller, however, gives no warranty or guarantee that the Purchaser will obtain vacant occupation of the property on that date and the Purchaser shall have no claim of whatsoever nature against the Seller should vacant occupation not be obtained on the said date or at all. 7.2 If the date of occupation and possession does not coincide with the date of registration of transfer, the party enjoying occupation and possession whilst the property is registered in the name of the other party, shall, in consideration thereof and for the period of such possession and occupation, pay to the other party occupational interest calculated on the Purchase Price at a rate equal to the Prime Rate payable monthly in advance. Such occupational interest shall be payable monthly in advance to the Conveyancers directly. Occupational interest shall be adjusted for any period of less than one month, the final adjustment to be made on the Transfer Date. 7.3 This clause 7 of this Annexure “1” read together with such other clauses of this Annexure “1” as might be applicable and specifically with inclusion of clause 22 of this Annexure “1”, shall be regarded as an independent divisible agreement and notwithstanding any contradictory term elsewhere contained in this agreement, the Seller shall, without prejudice to any of its other rights in terms of this Agreement, be entitled without notice to the Purchaser, take steps in order to enforce the terms of this clause 7 of this Annexure “1” and/or the collection of any amounts due in terms of this clause.

POSSESSION AND OCCUPATION. 7.1 The Purchaser shall be placed in possession and occupation of the Property on the Date of the delivery of a unconditional guarantee issued by a South African financial institution Occupation from which date the Property will be at the sole risk, profit or loss of the Purchaser. The Seller, however, gives no warranty or guarantee that the Purchaser will obtain vacant occupation of the property on that date and the Purchaser shall have no claim of whatsoever nature against the Seller should vacant occupation not be obtained on the said date or at all. 7.2 If the date of occupation and possession does not coincide with the date of registration of transfer, the party enjoying occupation and possession whilst the property is registered in the name of the other party, shall, in consideration thereof and for the period of such possession and occupation, pay to the other party occupational interest calculated on the Purchase Price at a rate equal to the Prime Rate payable monthly in advance. Such occupational interest shall be payable monthly in advance to the Conveyancers directly. Occupational interest shall be adjusted for any period of less than one month, the final adjustment to be made on the Transfer Date.; 7.3 This clause 7 of this Annexure “1” read together with such other clauses of this Annexure “1” as might be applicable and specifically with inclusion of clause 22 of this Annexure “1”, shall be regarded as an independent divisible agreement and notwithstanding any contradictory term elsewhere contained in this agreement, the Seller shall, without prejudice to any of its other rights in terms of this Agreement, be entitled without notice to the Purchaser, take steps in order to enforce the terms of this clause 7 of this Annexure “1” and/or and/of the collection of any amounts due in terms of this clause.

POSSESSION AND OCCUPATION. 7.1 6.1 The Purchaser shall be placed in possession and occupation of the Property on the Date of the delivery of a unconditional guarantee issued by a South African financial institution Occupation from which date the Property will be at the sole risk, profit or loss of the Purchaser. The Seller, however, gives no warranty or guarantee that the Purchaser will obtain vacant occupation of the property on that date and the Purchaser shall have no claim of whatsoever nature against the Seller should vacant occupation not be obtained on the said date or at all. 7.2 6.2 If the date of occupation and possession does not coincide with the date of registration of transfer, the party enjoying occupation and possession whilst the property is registered in the name of the other party, shall, in consideration thereof and for the period of such possession and occupation, pay to the other party occupational interest calculated on the Purchase Price at a rate equal to the Prime Rate payable monthly in advance. Such occupational interest shall be payable monthly in advance to the Conveyancers directly. Occupational interest shall be be, by the Conveyancers, adjusted for any period of less than one month, the final adjustment to be made on the Transfer Date. Should any occupational interest be, in terms of the final adjustment, be payable to the Purchaser, the Conveyancers shall deduct the relevant amount from the amount payable to the Seller and pay same to the Purchaser. 7.3 6.3 This clause 7 6 of this Annexure “1A” read together with such other clauses of this Annexure “1A” as might be applicable and specifically with inclusion of clause 22 of this Annexure “1A”, shall be regarded as an independent divisible agreement and notwithstanding any contradictory term elsewhere contained in this agreement, the Seller shall, without prejudice to any of its other rights in terms of this Agreement, be entitled without notice to the Purchaser, take steps in order to enforce the terms of this clause 7 6 of this Annexure “1A” and/or the collection of any amounts due in terms of this clause.

POSSESSION AND OCCUPATION. 7.1 The Purchaser shall be placed in possession and occupation of the Property on the Date of the delivery of a unconditional guarantee issued by a South African financial institution Occupation from which date the Property will be at the sole risk, profit or loss of the Purchaser. The Seller, however, gives no warranty or guarantee that the Purchaser will obtain vacant occupation of the property on that date and the Purchaser shall have no claim of whatsoever nature against the Seller should vacant occupation not be obtained on the said date or at all. 7.2 If the date of occupation and possession does not coincide with the date of registration of transfer, the party enjoying occupation and possession whilst the property is registered in the name of the other party, shall, in consideration thereof and for the period of such possession and occupation, pay to the other party occupational interest calculated on the Purchase Price at a rate equal to the Prime Rate payable monthly in advance. Such occupational interest shall be payable monthly in advance to the Conveyancers directly. Occupational interest shall be adjusted for any period of less than one month, the final adjustment to be made on the Transfer Date.; 7.3 This clause 7 of this Annexure “1” Agreement read together with such other clauses of this Annexure “1” Agreement as might be applicable and specifically with inclusion of clause 22 32 of this Annexure “1”Agreement, shall be regarded as an independent divisible agreement and notwithstanding any contradictory term elsewhere contained in this agreement, the Seller shall, without prejudice to any of its other rights in terms of this Agreement, be entitled without notice withoutnotice to the Purchaser, take steps in order to enforce the terms of this clause 7 of this Annexure “1” Agreement and/or the collection of any amounts due in terms of this clauseclause 7 .