Common use of STATUTORY SUPERVISOR Clause in Contracts

STATUTORY SUPERVISOR. 21.1 The Resident and the Operator appoint the Statutory Supervisor as stakeholder under the Deed of Supervision and agree to be bound by the provisions of the Deed of Supervision. 21.2 The Resident acknowledges that in terms of clause 20.2 of the Deed of Supervision, the Statutory Supervisor and every attorney, agent or other person appointed by the Statutory Supervisor pursuant to that Deed, will be entitled to be indemnified by the Operator and by the Resident and all other Residents for the time being in the Village: (a) in respect of all expenses and liabilities reasonably incurred by the Statutory Supervisor in the execution or purported execution in good faith of the Statutory Supervisor’s duties hereunder, or any powers, authorities, or directions vested in the Statutory Supervisor pursuant to that Deed; and (b) against all actions, proceedings, costs, claims and demands in respect of any matter or thing done or omitted relating to the Statutory Supervisor’s appointment and duties under the Deed of Supervision, other than a claim arising out of a wilful or negligent default by the Statutory Supervisor. 21.3 It is acknowledged for the purposes of the Contracts (Privity) Xxx 0000, that the provisions of this clause 21 are provided for the benefit of the Statutory Supervisor as well as binding the Operator and the Resident, and are intended to be enforceable by the Statutory Supervisor against either party as well as by the Operator and the Resident. 21.4 Procedure if there ceases to be a statutory supervisor If there ceases to be a Statutory Supervisor for the Village, the Operator shall promptly exercise its power of appointment of a new Statutory Supervisor who is approved as such pursuant to the Act and shall require the new Statutory Supervisor to execute a Deed undertaking to be bound by all the obligations of the Statutory Supervisor under the Deed of Supervision, and as from the date of the appointment the new Statutory Supervisor shall be vested with all the rights, powers, immunities, duties and obligations of its predecessor as if it had been originally named as a party to the Deed of Supervision.

STATUTORY SUPERVISOR. 21.1 The Resident and the Operator appoint the Statutory Supervisor as stakeholder under the Deed of Supervision and agree to be bound by the provisions of the Deed of Supervision. 21.2 The Resident acknowledges that in terms of clause 20.2 of the Deed of Supervision, the Statutory Supervisor and every attorney, agent or other person appointed by the Statutory Supervisor pursuant to that DeedXxxx, will be entitled to be indemnified by the Operator and by the Resident and all other Residents for the time being in the Village: (a) in In respect of all expenses and liabilities reasonably incurred by the Statutory Supervisor in the execution or purported execution in good faith of the Statutory Supervisor’s 's duties hereunder, or any powers, authorities, or directions vested in the Statutory Supervisor pursuant to that Deed; and (b) against Against all actions, proceedings, costs, claims and demands in respect of any matter or thing done or omitted relating to the Statutory Supervisor’s 's appointment and duties under the Deed of Supervision, other than a claim arising out of a wilful or negligent default by the Statutory Supervisor. 21.3 It is acknowledged for the purposes of the Contracts (Privity) and Commercial Law Xxx 0000, that the provisions of this clause 21 are provided for the benefit of the Statutory Supervisor as well as binding the Operator and the Resident, and are intended to be enforceable by the Statutory Supervisor against either party as well as by the Operator and the Resident. 21.4 Procedure if there ceases to be a statutory supervisor supervisor. If there ceases to be a Statutory Supervisor statutory supervisor for the Village, the Operator shall promptly exercise its power of appointment of a new Statutory Supervisor statutory supervisor who is approved as such pursuant to the Act and shall require the new Statutory Supervisor statutory supervisor to execute a Deed undertaking to be bound by all the obligations of the Statutory Supervisor under the Deed of Supervision, and as from the date of the appointment the new Statutory Supervisor statutory supervisor shall be vested with all the rights, powers, powers immunities, duties and obligations of its predecessor as if it had been originally named as a party to the Deed of Supervision.

STATUTORY SUPERVISOR. 21.1 The Resident and the Operator appoint the Statutory Supervisor as stakeholder under the Deed of Supervision and agree to be bound by the provisions of the Deed of Supervision. 21.2 The Resident acknowledges that in terms of clause 20.2 of the Deed of Supervision, the Statutory Supervisor and every attorney, agent or other person appointed by the Statutory Supervisor pursuant to that DeedXxxx, will be entitled to be indemnified by the Operator and by the Resident and all other Residents for the time being in the Village: (a) in respect of all expenses and liabilities reasonably incurred by the Statutory Supervisor in the execution or purported execution in good faith of the Statutory Supervisor’s duties hereunder, or any powers, authorities, or directions vested in the Statutory Supervisor pursuant to that Deed; and (b) against all actions, proceedings, costs, claims and demands in respect of any matter or thing done or omitted relating to the Statutory Supervisor’s appointment and duties under the Deed of Supervision, other than a claim arising out of a wilful or negligent default by the Statutory Supervisor. 21.3 It is acknowledged for the purposes of the Contracts (Privity) Xxx 0000Act 1982, that the provisions of this clause 21 are provided for the benefit of the Statutory Supervisor as well as binding the Operator and the Resident, and are intended to be enforceable by the Statutory Supervisor against either party as well as by the Operator and the Resident. 21.4 Procedure if there ceases to be a statutory supervisor If there ceases to be a Statutory Supervisor for the Village, the Operator shall promptly exercise its power of appointment of a new Statutory Supervisor who is approved as such pursuant to the Act and shall require the new Statutory Supervisor to execute a Deed undertaking to be bound by all the obligations of the Statutory Supervisor under the Deed of Supervision, and as from the date of the appointment the new Statutory Supervisor shall be vested with all the rights, powers, immunities, duties and obligations of its predecessor as if it had been originally named as a party to the Deed of Supervision.

STATUTORY SUPERVISOR. 21.1 The Resident and the Operator appoint the Statutory Supervisor as stakeholder under the Deed of Supervision and agree to be bound by the provisions of the Deed of Supervision. 21.2 The Resident acknowledges that in terms of clause 20.2 of the Deed of Supervision, the Statutory Supervisor and every attorney, agent or other person appointed by the Statutory Supervisor pursuant to that Deed, will be entitled to be indemnified by the Operator and by the Resident and all other Residents for the time being in the Village: (a) in In respect of all expenses and liabilities reasonably incurred by the Statutory Supervisor in the execution or purported execution in good faith of the Statutory Supervisor’s 's duties hereunder, or any powers, authorities, or directions vested in the Statutory Supervisor pursuant to that Deed; and (b) against Against all actions, proceedings, costs, claims and demands in respect of any matter or thing done or omitted relating to the Statutory Supervisor’s 's appointment and duties under the Deed of Supervision, other than a claim arising out of a wilful or negligent default by the Statutory Supervisor. 21.3 It is acknowledged for the purposes of the Contracts (Privity) Xxx 0000, that the provisions of this clause 21 are provided for the benefit of the Statutory Supervisor as well as binding the Operator and the Resident, and are intended to be enforceable by the Statutory Supervisor against either party as well as by the Operator and the Resident. 21.4 Procedure if there ceases to be a statutory supervisor If there ceases to be a Statutory Supervisor statutory supervisor for the Village, the Operator shall promptly exercise its power of appointment of a new Statutory Supervisor statutory supervisor who is approved as such pursuant to the Act and shall require the new Statutory Supervisor statutory supervisor to execute a Deed undertaking to be bound by all the obligations of the Statutory Supervisor under the Deed of Supervision, and as from the date of the appointment the new Statutory Supervisor statutory supervisor shall be vested with all the rights, powers, powers immunities, duties and obligations of its predecessor as if it had been originally named as a party to the Deed of Supervision.

STATUTORY SUPERVISOR. 21.1 The Resident and the Operator appoint the Statutory Supervisor as stakeholder under the Deed of Supervision and agree to be bound by the provisions of the Deed of Supervision. 21.2 The Resident acknowledges that in terms of clause 20.2 of the Deed of Supervision, the Statutory Supervisor and every attorney, agent or other person appointed by the Statutory Supervisor pursuant to that Deed, will be entitled to be indemnified by the Operator and by the Resident and all other Residents for the time being in the Village: (a) in In respect of all expenses and liabilities reasonably incurred by the Statutory Supervisor in the execution or purported execution in good faith of the Statutory Supervisor’s 's duties hereunder, or any powers, authorities, or directions vested in the Statutory Supervisor pursuant to that Deed; and (b) against Against all actions, proceedings, costs, claims and demands in respect of any matter or thing done or omitted relating to the Statutory Supervisor’s 's appointment and duties under the Deed of Supervision, other than a claim arising out of a wilful or negligent default by the Statutory Supervisor. 21.3 It is acknowledged for the purposes of the Contracts (Privity) and Commercial Law Xxx 0000, that the provisions of this clause 21 are provided for the benefit of the Statutory Supervisor as well as binding the Operator and the Resident, and are intended to be enforceable by the Statutory Supervisor against either party as well as by the Operator and the Resident. 21.4 Procedure if there ceases to be a statutory supervisor supervisor. If there ceases to be a Statutory Supervisor statutory supervisor for the Village, the Operator shall promptly exercise its power of appointment of a new Statutory Supervisor statutory supervisor who is approved as such pursuant to the Act and shall require the new Statutory Supervisor statutory supervisor to execute a Deed undertaking to be bound by all the obligations of the Statutory Supervisor under the Deed of Supervision, and as from the date of the appointment the new Statutory Supervisor statutory supervisor shall be vested with all the rights, powers, powers immunities, duties and obligations of its predecessor as if it had been originally named as a party to the Deed of Supervision.

STATUTORY SUPERVISOR. 21.1 The Resident and the Operator appoint the Statutory Supervisor as stakeholder under the Deed of Supervision and agree to be bound by the provisions of the Deed of Supervision. 21.2 The Resident acknowledges that in terms of clause 20.2 of the Deed of Supervision, the Statutory Supervisor and every attorney, agent or other person appointed by the Statutory Supervisor pursuant to that Deed, will be entitled to be indemnified by the Operator and by the Resident and all other Residents for the time being in the Village: (a) in In respect of all expenses and liabilities reasonably incurred by the Statutory Supervisor in the execution or purported execution in good faith of the Statutory Supervisor’s 's duties hereunder, or any powers, authorities, or directions vested in the Statutory Supervisor pursuant to that Deed; and (b) against Against all actions, proceedings, costs, claims and demands in respect of any matter or thing done or omitted relating to the Statutory Supervisor’s 's appointment and duties under the Deed of Supervision, other than a claim arising out of a wilful or negligent default by the Statutory Supervisor. 21.3 It is acknowledged for the purposes of the Contracts (Privity) and Commercial Law Xxx 0000, that the provisions of this clause 21 are provided for the benefit of the Statutory Supervisor as well as binding the Operator and the Resident, and are intended to be enforceable by the Statutory Supervisor against either party as well as by the Operator and the Resident. 21.4 Procedure if there ceases to be a statutory supervisor If there ceases to be a Statutory Supervisor statutory supervisor for the Village, the Operator shall promptly exercise its power of appointment of a new Statutory Supervisor statutory supervisor who is approved as such pursuant to the Act and shall require the new Statutory Supervisor statutory supervisor to execute a Deed undertaking to be bound by all the obligations of the Statutory Supervisor under the Deed of Supervision, and as from the date of the appointment the new Statutory Supervisor statutory supervisor shall be vested with all the rights, powers, powers immunities, duties and obligations of its predecessor as if it had been originally named as a party to the Deed of Supervision.