RIGHT TO RESILE. The Agreement shall be subject to the following resolutive condition: 16.1. The Seller and/or Developer reserve the right to resile from this Agreement by 31 January 2017 in the event of insufficient sales of Properties or for any other reason making the development not feasible for the Developer. In such an event, the Seller and Developer shall not be liable to the Purchaser for any loss whatsoever. 16.2. In the event of the Seller and/or Developer resiling from this Agreement as contemplated in clause 16.1, any amounts paid towards the Purchase Price together with interest earned thereon shall be refunded to the Purchaser. 16.3. This clause 16 is inserted for the benefit of the Seller and/or Developer and they may waive the benefits arising from this clause at any time and in which event no agent fee will be payable.
Appears in 4 contracts
Samples: Building Agreement, Building Agreement, Sale Agreement
