RESOLUTIVE CONDITIONS. 18.1 The Purchaser acknowledges that the economic viability of the development of the Scheme depends largely on the response by the purchasing public to the advertising campaign launched by the Seller and/or the Agent in respect of the development. If the Seller is of the opinion that the development will not be financially viable or if the Seller has not managed to successfully sell a sufficient number of units in the Scheme and/or,
18.2 The Seller may require finance for the acquisition and/or development of the Buildings and the Property in its discretion, for which the Seller shall apply for in due course when required. Should the Seller be unsuccessful in applying for such finance or insufficient finance is approved,
18.3 The Seller may give notice of the termination of this Agreement to the Purchaser, in which event this Agreement shall immediately terminate and be null and void and the Purchaser shall be entitled to a refund of the Reservation Deposit and other amounts (if applicable). The said notice to the Purchaser will be given by the Transferring Attorney by way of email.
RESOLUTIVE CONDITIONS. 22.1 The Purchaser acknowledges that the economic viability of the development of the Scheme depends largely on the response by the purchasing public to the advertising campaign launched by the Seller and/or the Agent in respect of the development. In the event that the Seller is of the opinion that the development will not be financially viable or if the Seller has not managed to successfully sell a sufficient number of units in the Scheme, the Seller may give notice of the termination of this Agreement, in which event this Agreement shall immediately terminate and be null and void and the Purchaser shall be entitled to a refund of the Reservation Deposit and other amounts (if applicable) as contemplated in clause 24 below. The said notice to the Purchaser will be given by the Transferring Attorney by way of email or any other form of electronic message.
22.2 The Seller may require finance for the acquisition and/or development of the Buildings and the Property in its discretion, for which the Seller shall apply for in due course when required. Should the Seller be unsuccessful in applying for such finance or insufficient finance is approved, the Seller may give notice of the termination of this Agreement, in which event this Agreement shall immediately terminate and be null and void. The said notice to the Purchaser will be given by the Transferring Attorney by way of email or any other form of electronic message 23 AGENT’S COMMISSION AND PAYMENT OF COMMISSION PRIOR TO THE TRANSFER DATE
23.1 The parties warrant that the Agent was the effective cause of this Agreement and that no other person or estate agent introduced the Purchaser to the Property or the Purchaser to the Seller, and the Seller shall be liable to effect payment of the Agent’s commission as agreed to in this Agreement.
23.2 The parties record that the Agent shall be entitled to part payment of commission in an amount equal to the Reservation Deposit, and the Transferring Attorney is authorised to pay such commission to the Agent, once:
23.2.1 the full balance of the Purchase Price is secured by the Purchaser to the satisfaction of the Seller should the Purchaser not require mortgage finance as contemplated in clause 18 above; or
23.2.2 once the bond registration attorney receives an instruction from the bank or other financial institution who approved the Purchaser’s loan application to attend to the registration of a mortgage bond over the Property or another property registered in the na...
RESOLUTIVE CONDITIONS. (a) The Joint Venture will terminate unless the following resolutive conditions (the “Resolutive Conditions”) are satisfied on or before 30 June 2005 or any later date agreed in writing between the parties:
(i) Broad-based composition of Xxxxxxx. Xxxxxxx and its existing shareholders having completed and implemented, by way of a shareholders agreement and lockup arrangements to the reasonable satisfaction of GBG and Southgold, a restructuring of the shareholding in Xxxxxxx to provide for broader based BEE participation. The shareholding in Xxxxxxx is proposed to be held as to 51% by the existing four HDSA’s and the balance of the shareholding being distributed without consideration amongst:
A. a trust consisting of a local youth group, with its trustees and beneficiaries all being HDSA’s;
B. a company representing a rural HDSA womens’ group;
C. a local community development trust, with its trustees and beneficiaries all being HDSA’s; and
D. a trust for the Southgold employees, with its trustees and beneficiaries all being HDSA’s (subject to the requirements of the South African labour regime).
RESOLUTIVE CONDITIONS. 2.1 Subject to clause 2.2, this Agreement shall take effect on the Signature Date but, save for the provisions of this clause 2 and clauses 1, 11, 12 and 13, shall fall away and be of no further force and effect if, by 31 May 2005, or such later date as DRDGOLD and BSCM may agree in writing prior to 31 May 2005, any one of the following resolutive conditions is fulfilled:
2.1.1 any documentation in respect of this Agreement and the Claw Back Offer which requires approval in terms of the Listings Requirements of the JSE is not duly approved by the JSE, or the JSE does not agree to list the Offer Shares;
2.1.2 any approvals and consents necessary to offer the Offer Shares for subscription within the United States of America have not been obtained;
2.1.3 any other regulatory approvals, including without limitation that of the South African Reserve Bank, necessary to implement this Agreement have not been obtained;
2.1.4 any documentation which is required to be registered by the Registrar of Companies in terms of the Act has not been duly registered; or
2.1.5 any statement which is required to be lodged with and registered by the Registrar of Companies in terms of section 80(1)(c)(ii) of the Act in respect of any payment to be made in terms of this Agreement has not been so lodged or registered.
2.2 The condition contained in clause 2.1.2 is stipulated for the benefit of DRDGOLD alone and may accordingly be waived by it by written notice to that effect given to BSCM on or before 31 May 2005 or any later date as may be agreed between DRD and BSCM in terms of clause 2.1.
2.3 If this Agreement is terminated in accordance with the provisions of clause 2.1, then, subject to the provisions of clause 2.5, no Party shall have any claim against any other Party pursuant to the fulfilment of any of the conditions.
2.4 DRDGOLD shall use reasonable endeavours to ensure that the resolutive conditions referred to in clause 2.1 are not fulfilled. However, DRDGOLD shall not be obliged to institute any appeal or review proceedings whatsoever to ensure the non-fulfilment of those resolutive conditions.
2.5 If this Agreement is terminated in accordance with clause 2.1 or cancelled in accordance with clause 11.1:
2.5.1 DRDGOLD shall forthwith pay to the Underwriters any amounts paid to it by the Underwriters in terms of clause 3 by electronic transfer to the accounts notified in writing by BSCM to DRDGOLD.
2.5.2 Each of the Underwriters shall forthwith pay to DRDGOLD any amounts ...
RESOLUTIVE CONDITIONS. The Purchaser acknowledges that the economic viability of the development of the Scheme depends largely on the response by the purchasing public to the advertising campaign launched by the Seller and/or the Agent in respect of the development. If the Seller is of the opinion that the development will not be financially viable or if the Seller has not managed to successfully sell a sufficient number of units in the Scheme; and/or, The Seller may require finance for the acquisition and/or development of the Buildings and the Property in its discretion, for which the Seller shall apply for in due course when required. Should the Seller be unsuccessful in applying for such finance or insufficient finance is approved. The Seller may give notice of the termination of this Agreement to the Purchaser, in which event this Agreement shall immediately terminate and be null and void and the Purchaser shall be entitled to a refund of the Reservation Deposit and other amounts (if applicable). The said notice to the Purchaser will be given by the Transferring Attorney by way of email. Prior to the occupation date, the Purchaser and/or his duly authorised representative shall, together with the duly authorised representative of the Seller, inspect the property on a date specified by the Seller.
RESOLUTIVE CONDITIONS. 21.1 This agreement shall immediately bind the parties on signature thereof by the last signing party, but shall resolve with immediate effect with neither party having a claim against the other party:
21.1. 1Should the Seller for any reason, fail or be unable to obtain an extension for the approval of the subdivision and township development from the Local Authority, registration of the general plan with the Surveyor General and the registration of the general plan and township development in the Deeds Office, Cape Town at any time prior to 31 December 2019;
21.1. 2Should the Seller not be able to successfully sell a minimum of 5 plots within 6 months from date of signature of this Agreement. A successful sale means that all the suspensive conditions of the sale must be met. The Seller has the exclusive right to either extent the said period or waive this condition.
21.1. 3Should the Purchaser enter into a Plot & Plan Agreement with the Seller, and fail to sign the Building Agreement on the same terms and conditions as the copy attached hereto including all its Annexures (if not already signed), at the latest within 2 consecutive days of date of signature of this Agreement; (or such extended period as the Seller in its sole discretion may grant), and/or;
RESOLUTIVE CONDITIONS. 3.1 This whole agreement shall be of full force and effect with effect from the date of signature, but is subject to the resolutive condition that should ...KATLA.................................. fail to execute, in writing a memorandum of agreement or the Joint Venture agreement with any operator before or on ...5. MARCH 2012............................ or such later date as the parties may agree, then this agreement shall be of no force and effect.
3.2 Each of the parties shall use reasonable endeavours to procure that this agreement does not cease to be of any force or effect in terms of 3.1.
3.3 The resolutive conditions are expressed to be for the benefit of both parties and may therefore not be waived other than by agreement in writing by them.
3.4 Should this agreement cease to be of any force and effect in terms of 3.1, then -
3.4.1 the parties shall be restored, as near as may be possible to the positions in which they would have been, had this agreement not been entered into; and
3.4.2 no party shall have any claim against any other in terms of this agreement except for such claims (if any) as may arise from a breach of this 3.1 or any of the effective provisions.
RESOLUTIVE CONDITIONS. In the event that the Seller fails to: have the development plan approved by the relevant local authority; and/or register the Scheme over the Property, on or before 30 April 2021 (“the Long Stop Date”), the entire Agreement shall automatically lapse and be of no further force or effect and the parties shall be reinstated to the position which the occupied prior to the Signature Date, provided that the Purchaser shall be entitled to interest earned on the amounts paid to the Conveyancer in accordance with the provisions of clause 4.1 or 4.2.
RESOLUTIVE CONDITIONS. 12.1 The Lessee shall at its own cost use all reasonable endeavors to obtain such municipal and other relevant consents (“Authority”) necessary for the construction, erection, installation and operation of a Base Station at the Base Station Site.
12.2 If:
12.2.1 any Authority required by the Lessee to build and/or operate the Base Station is suspended or cancelled for whatever reason or should Buildings be erected on land adjacent to and/or in the proximity of the Property which measurably interfere (in the Lessee’s discretion) with the installed telecommunications network; or
12.2.2 the Lessee determines that the Base Station is not suitable for purposes of operating a telecommunications network and/or any other purpose intended by the Lessee; or
12.2.3 the Base Station becomes outdated owing to technological development and is not economically capable of being upgraded, or replaced or otherwise altered and as a result becomes redundant, then the Lessee shall be entitled to cancel this Agreement on 30 (thirty) days Written notice of cancellation to the Lessor. In such event the Lessee shall use all commercially reasonable endeavors to remove all equipment within 120 (one hundred and twenty) days after the Termination Date and the Property must be reinstated by the Lessee to the conditions in which it was before the installation of the Lessee’s equipment, fair, wear and tear excepted. For the avoidance of doubt, the Lessee will continue to make payment of rental amounts until the Base Station and all equipment has been removed from the Base Station Site, which is expected not to exceed 120 (one hundred and twenty) days after the Termination Date.
12.3 If the Lessee is unable to obtain, within a reasonable time, any Authority required by it after application thereof, the Lessee shall be entitled to cancel this Agreement forthwith.
RESOLUTIVE CONDITIONS. 8.1 The Lessor reserves the right to terminate the Agreement with immediate effect, unilaterally and without judicial intervention, and to deny the Lessee access to the Rental Accommodation by changing the locks in the event of one of the following situations: - The Lessee has fallen more than eight days in arrears of payment of the rent; - The Lessee fails to comply with the rules and regulations of the park of which the Rental Accommodation forms part; - The Lessee fails to keep the Rented Accommodation in a clean and tidy condition and/or fails to treat with due care the Rented Accommodation or - the inventory, such to be established at the Lessor’s sole discretion; - The Lessor has established that the maximum number of persons permitted to stay at the Rental Accommodation is being exceeded.
