Common use of SALE BEING SET ASIDE OR CONSENT NOT BEING OBTAINED Clause in Contracts

SALE BEING SET ASIDE OR CONSENT NOT BEING OBTAINED. 16.1 In the event of the sale being set aside for any reason whatsoever by the Assignee or by an Order of Court or consent not being obtained from the Developer/Proprietor (if applicable) and/or other relevant authorities (if applicable) (other than for reasons attributable to any act of default or omission by the Purchaser) on the expiry of the time period prescribed for completion, then the Assignee is absolutely entitled to terminate the sale by giving the Purchaser written notice thereof, in which case: a) if in the meanwhile the Purchaser has entered into possession of the property, then the Purchaser is liable at his own costs to reinstate the property to the original condition as at the auction sale, and thereafter peaceably to yield up vacant possession of the property to the Assignee within 7 days upon service of the notice terminating the sale; and b) the costs/expenses reasonably incurred by the Assignee in connection with the sale, as well as the costs to reinstate damage (if any) to the property caused by the Purchaser in possession thereof shall be deducted and set-off against the Deposit or TPP and thereafter the residue (if any) shall be refunded to the Purchaser free of interest. For this purpose a certificate signed by any officer of the Assignee certifying the amount of such expenses or costs shall be deemed final/conclusive and binding upon the Purchaser. 16.2 In the event of consent not being obtained from the Developer/Landowner and/or other relevant authorities due to the act of default or omission by the Purchaser, the Assignee/Bank shall be entitled to forfeit the Bidding Deposit and the Differential Sum paid pursuant to Clauses 3 and 8.2 above.

SALE BEING SET ASIDE OR CONSENT NOT BEING OBTAINED. 16.1 In the event of the sale being set aside for any reason whatsoever by the Assignee Assignee/Bank or by an Order of Court or consent not being obtained from the Developer/Proprietor (if applicable) Landowner and/or other relevant authorities (if applicable) (other than for reasons attributable to any act of default or omission by the Purchaser) on the expiry of the time period prescribed for completion, then the Assignee is absolutely entitled to terminate the sale by giving the Purchaser written notice thereof, in which case: a) if in the meanwhile the Purchaser has entered into possession of the property, then the Purchaser is liable at his own costs to reinstate the property to the original condition as at the auction sale, and thereafter peaceably to yield up vacant possession of the property to the Assignee Assignee/Bank within 7 days upon service of the notice terminating the sale; and b) the costs/expenses reasonably incurred by the Assignee Assignee/Bank in connection with the sale, as well as the costs to reinstate damage (if any) to the property caused by the Purchaser in possession thereof shall be deducted and set-off against the Deposit or TPP and thereafter the residue (if any) shall be refunded to the Purchaser free of interest. For this purpose a certificate signed by any officer of the Assignee Assignee/Bank certifying the amount of such expenses or costs shall be deemed final/conclusive and binding upon the Purchaser. 16.2 In the event of consent not being obtained from the Developer/Landowner and/or other relevant authorities due to the act of default or omission by the Purchaser, the Assignee/Bank shall be entitled to forfeit the Bidding Deposit and the Differential Sum Purchaser Deposit paid pursuant to Clauses 3 and 8.2 above.

SALE BEING SET ASIDE OR CONSENT NOT BEING OBTAINED. 16.1 In the event of the sale being set aside for any reason whatsoever by the Assignee Assignee/Bank or by an Order of Court or consent not being obtained from the Developer/Proprietor (if applicable) Landowner and/or other relevant authorities (if applicable) (other than for reasons attributable to any act of default or omission by the Purchaser) on the expiry of before the time period prescribed for completion, then the Assignee is absolutely entitled to terminate the this sale by shall become null and void and be of no further effect and upon giving the Purchaser written notice thereof, in which case:; (a) if in the meanwhile the Purchaser has entered into possession of the property, then the Purchaser is liable at his own costs to reinstate the property to the original condition as at the auction sale, and thereafter peaceably to yield up vacant possession of the property to the Assignee Assignee/Bank within 7 days upon service of the notice terminating the sale; and; (b) the costs/expenses reasonably incurred by the Assignee Assignee/Bank in connection with the sale, as well as the costs to reinstate damage (if any) to the property caused by the Purchaser in possession thereof shall be deducted and set-set- off against the Deposit or TPP and thereafter the residue (if any) shall be refunded to the Purchaser free of interest. For this purpose purpose, a certificate signed by any officer of the Assignee Assignee/Bank certifying the amount of such expenses or costs shall be deemed final/conclusive and binding upon the Purchaser; and (c) Upon payment by the Assignee/Bank the Purchaser shall have no other or further claims, demands whatsoever in nature or howsoever caused against the Assignee/Bank, the Solicitors, the Auctioneers or their respective servant or agents. 16.2 In the event of consent not being obtained from the Developer/Landowner and/or other relevant authorities due to the act of default or omission by the Purchaser, the Assignee/Bank shall be entitled to forfeit the Bidding Deposit and the Differential Sum Purchase Deposit paid pursuant to Clauses 3 and 8.2 above.

SALE BEING SET ASIDE OR CONSENT NOT BEING OBTAINED. 16.1 In the event of the sale being set aside for any reason whatsoever by the Assignee Assignee/Co-operative or by an Order of Court or consent not being obtained from the Developer/Proprietor (if applicable) and/or other relevant authorities (if applicable) (other than for reasons attributable to any act of default or omission by the Purchaser) on the expiry of the time period prescribed for completion, then the Assignee Assignee/Co-operative is absolutely entitled to terminate the sale by giving the Purchaser written notice thereof, in which case: (a) if in the meanwhile the Purchaser has entered into possession of the propertyProperty, then the Purchaser is liable at his own costs to reinstate the property Property to the original condition as at the auction sale, and thereafter peaceably to yield up vacant possession of the property Property to the Assignee Assignee/Co-operative within 7 days upon service of the notice terminating the sale; and (b) the costs/expenses reasonably incurred by the Assignee Assignee/Co-operative in connection with the sale, as well as the costs to reinstate repair damage (if any) to the property Property caused by the Purchaser in possession thereof shall be deducted and set-off against the Deposit Bidding Deposit/Purchase Deposit, whichever is applicable, or TPP and thereafter the residue (if any) shall be refunded to the Purchaser free of interest. For this purpose purpose, a certificate signed by any officer of the Assignee Assignee/Co-operative certifying the amount of such expenses or costs shall be deemed final/conclusive and binding upon the Purchaser. 16.2 In the event of consent not being obtained from the Developer/Landowner Proprietor and/or other relevant authorities due to the act of default or omission by the Purchaser, the Assignee/Bank Co-operative shall be entitled to forfeit the Bidding Deposit and the Differential Sum Deposit/Purchase Deposit, whichever is applicable, paid pursuant to Clauses 3 and 8.2 above.

SALE BEING SET ASIDE OR CONSENT NOT BEING OBTAINED. 16.1 In the event of the sale being set aside for any reason whatsoever by the Assignee or by an Order of Court or consent not being obtained from the Developer/Proprietor (if applicable) Landowner and/or other relevant authorities (if applicable) (other than for reasons attributable to any act of default or omission by the Purchaser) on the expiry of the time period prescribed for completion, then the Assignee is absolutely entitled to terminate the sale by giving the Purchaser written notice thereof, in which case: a) if in the meanwhile the Purchaser has entered into possession of the property, then the Purchaser is liable at his own costs to reinstate the property to the original condition as at the auction sale, and thereafter peaceably to yield up vacant possession of the property to the Assignee within 7 days upon service of the notice terminating the sale; and b) the costs/expenses reasonably incurred by the Assignee in connection with the sale, as well as the costs to reinstate damage (if any) to the property caused by the Purchaser in possession thereof shall be deducted and set-off against the Deposit or TPP and thereafter the residue (if any) shall be refunded to the Purchaser free of interest. For this purpose a certificate signed by any officer of the Assignee certifying the amount of such expenses or costs shall be deemed final/conclusive and binding upon the Purchaser. 16.2 In the event of consent not being obtained from the Developer/Landowner and/or other relevant authorities due to the act of default or omission by the Purchaser, the Assignee/Bank shall be entitled to forfeit the Bidding Deposit and the Differential Sum Purchaser Deposit paid pursuant to Clauses 3 and 8.2 above.