Common use of SUBJECT TO SALE Clause in Contracts

SUBJECT TO SALE. (delete if not applicable) 22.1 This agreement of sale is subject to the Purchaser being able to sell the following property:- (hereinafter referred to as the “Second Property”) by no later than: failing which, this agreement shall automatically lapse and be of no force or effect unless both parties have agreed to a written extension of this condition prior to the lapsing thereof. 22.2 All suspensive conditions relating to the sale of the Second Property must be fulfilled within 30 (thirty) days from acceptance of the offer by the Purchaser. Should the suspensive conditions on the Second Property not be fulfilled within 30 (thirty) days from date of acceptance of the offer, the parties agree that this sale agreement shall automatically lapse and be of no force or effect unless both parties have agreed to a written extension of this condition prior to the lapsing thereof. 22.3 Pending fulfilment of this condition of sale of the Second Property, the Seller shall be entitled to continue to market the Property and should he receive a bona fide offer (hereinafter referred to as the “Competing Offer”) prior to the Purchaser accepting an offer for the Second Property, he may accept the Competing Offer subject to the following conditions: 22.3.1 A copy of the Competing Offer shall be delivered to the Purchaser (by hand or via facsimile or e-mail) together with proof that the deposit has been secured by the Transferring Attorneys; 22.3.2 The Purchaser will have the option to waive the provisions of clause 22, within 3 (three) days from the date of delivery of the Competing Offer (excluding the day of delivery) and to proceed with this agreement unconditionally. The Purchaser may only waive clause 22 if he has been granted unconditional bond finance by a registered financial institution, or is able to within 3 (three) days after having received the Competing Offer, deliver guarantees for the full purchase price. 22.3.3 The Purchaser must exercise this option exclusively by written notice which must be delivered timeously to the Transferring Attorneys (by hand or via email). 22.3.4 Should the Purchaser not exercise this option timeously and exclusively by written confirmation, the Seller shall be entitled to accept the Competing Offer and on acceptance thereof this agreement shall thereupon automatically and immediately become cancelled without prejudice to either party. 22.3.5 The Seller acknowledges that in the event that the Purchaser exercises his option to waive clause 22, this agreement will remain in full force and binding on the parties irrespective of the fact that the Competing Offer may have more favourable terms, condition and/or a higher purchase price. 22.3.6 Despite the Purchaser having obtained bond finance as contemplated in Clause 3 of this agreement, the Seller shall be entitled to market and accept a Competing Offer if the Purchaser has not accepted an offer on the Second Property.

SUBJECT TO SALE. (delete if not applicable) 22.1 This agreement of sale is subject to the Purchaser being able to sell the following property:- (hereinafter referred to as the “Second Property”) by no later than: failing which, this agreement shall automatically lapse and be of no force or effect unless both parties have agreed to a written extension of this condition prior to the lapsing thereof. 22.2 All suspensive conditions relating to the sale of the Second Property must be fulfilled within 30 (thirty) days from acceptance of the offer by the Purchaser. Should the suspensive conditions on the Second Property not be fulfilled within 30 (thirty) days from date of acceptance of the offer, the parties agree that this sale agreement shall automatically lapse and be of no force or effect unless both parties have agreed to a written extension of this condition prior to the lapsing thereof. 22.3 Pending fulfilment of this condition of sale of the Second Property, the Seller Developer shall be entitled to continue to market the Property and should he receive a bona fide offer (hereinafter referred to as the “Competing Offer”) prior to the Purchaser accepting an offer for the Second Property, he may accept the Competing Offer subject to the following conditions: 22.3.1 A copy of the Competing Offer shall be delivered to the Purchaser (by hand or via facsimile or e-mail) together with proof that the deposit has been secured by the Transferring Attorneys; 22.3.2 The Purchaser will have the option to waive the provisions of clause 22, within 3 (three) days from the date of delivery of the Competing Offer (excluding the day of delivery) and to proceed with this agreement unconditionally. The Purchaser may only waive clause 22 if he has been granted unconditional bond finance by a registered financial institution, or is able to within 3 (three) days after having received the Competing Offer, deliver guarantees for the full purchase price. 22.3.3 The Purchaser must exercise this option exclusively by written notice which must be delivered timeously to the Transferring Attorneys (by hand or via email). 22.3.4 Should the Purchaser not exercise this option timeously and exclusively by written confirmation, the Seller Developer shall be entitled to accept the Competing Offer and on acceptance thereof this agreement shall thereupon automatically and immediately become cancelled without prejudice to either party. 22.3.5 The Seller Developer acknowledges that in the event that the Purchaser exercises his option to waive clause 22, this agreement will remain in full force and binding on the parties irrespective of the fact that the Competing Offer may have more favourable terms, condition and/or a higher purchase price. 22.3.6 Despite the Purchaser having obtained bond finance as contemplated in Clause 3 of this agreement, the Seller Developer shall be entitled to market and accept a Competing Offer if the Purchaser has not accepted an offer on the Second Property.

SUBJECT TO SALE. (delete if not applicable) 22.1 This agreement of sale is subject to the Purchaser being able to sell the following property:- (hereinafter referred to as the “Second Property”) by no later than: _ _ failing which, this agreement shall automatically lapse and be of no force or effect unless both parties have agreed to a written extension of this condition prior to the lapsing thereof. 22.2 All suspensive conditions relating to the sale of the Second Property must be fulfilled within 30 (thirty) days from acceptance of the offer by the Purchaser. Should the suspensive conditions on the Second Property not be fulfilled within 30 (thirty) days from date of acceptance of the offer, the parties agree that this sale agreement shall automatically lapse and be of no force or effect unless both parties have agreed to a written extension of this condition prior to the lapsing thereof. 22.3 Pending fulfilment of this condition of sale of the Second Property, the Seller Developer shall be entitled to continue to market the Property and should he receive a bona fide offer (hereinafter referred to as the “Competing Offer”) prior to the Purchaser accepting an offer for the Second Property, he may accept the Competing Offer subject to the following conditions: 22.3.1 A copy of the Competing Offer shall be delivered to the Purchaser (by hand or via facsimile or e-mail) together with proof that the deposit has been secured by the Transferring Attorneys; 22.3.2 The Purchaser will have the option to waive the provisions of clause 22, within 3 (three) days from the date of delivery of the Competing Offer (excluding the day of delivery) and to proceed with this agreement unconditionally. The Purchaser may only waive clause 22 if he has been granted unconditional bond finance by a registered financial institution, or is able to within 3 (three) days after having received the Competing Offer, deliver guarantees for the full purchase price. 22.3.3 The Purchaser must exercise this option exclusively by written notice which must be delivered timeously to the Transferring Attorneys (by hand or via email). 22.3.4 Should the Purchaser not exercise this option timeously and exclusively by written confirmation, the Seller Developer shall be entitled to accept the Competing Offer and on acceptance thereof this agreement shall thereupon automatically and immediately become cancelled without prejudice to either party. 22.3.5 The Seller Developer acknowledges that in the event that the Purchaser exercises his option to waive clause 22, this agreement will remain in full force and binding on the parties irrespective of the fact that the Competing Offer may have more favourable terms, condition and/or a higher purchase price. 22.3.6 Despite the Purchaser having obtained bond finance as contemplated in Clause 3 of this agreement, the Seller Developer shall be entitled to market and accept a Competing Offer if the Purchaser has not accepted an offer on the Second Property.

SUBJECT TO SALE. (delete if not applicable) 22.1 This agreement of sale is subject to the Purchaser being able to sell the following property:- (hereinafter referred to as the “Second Property”) by no later than: failing which, this agreement shall automatically lapse and be of no force or effect unless both parties have agreed to a written extension of this condition prior to the lapsing thereof. 22.2 All suspensive conditions relating to the sale of the Second Property must be fulfilled within 30 (thirty) days from acceptance of the offer by the Purchaser. Should the suspensive conditions on the Second Property not be fulfilled within 30 (thirty) days from date of acceptance of the offer, the parties agree that this sale agreement shall automatically lapse and be of no force or effect unless both parties have agreed to a written extension of this condition prior to the lapsing thereof. 22.3 Pending fulfilment of this condition of sale of the Second Property, the Seller Developer shall be entitled to continue to market the Property and should he receive a bona fide offer (hereinafter referred to as the “Competing Offer”) prior to the Purchaser accepting an offer for the Second Property, he may accept the Competing Offer subject to the following conditions: 22.3.1 A copy of the Competing Offer shall be delivered to the Purchaser (by hand or via facsimile or e-mail) together with proof that the deposit has been secured by the Transferring Attorneys; 22.3.2 The Purchaser will have the option to waive the provisions of clause 22, within 3 (three) days from the date of delivery of the Competing Offer (excluding the day of delivery) and to proceed with this agreement unconditionally. The Purchaser may only waive clause 22 if he has been granted unconditional bond finance by a registered financial institution, or is able to within 3 (three) days after having received the Competing Offer, deliver guarantees for the full purchase price. 22.3.3 The Purchaser must exercise this option exclusively by written notice which must be delivered timeously to the Transferring Attorneys (by hand or via email). 22.3.4 Should the Purchaser not exercise this option timeously and exclusively by written confirmation, the Seller Developer shall be entitled to accept the Competing Offer and on acceptance thereof this agreement shall thereupon automatically and immediately become cancelled without prejudice to either party. 22.3.5 The Seller Developer acknowledges that in the event that the Purchaser exercises his option to waive clause 22, this agreement will remain in full force and binding on the parties irrespective of the fact that the Competing Offer may have more favourable terms, condition and/or a higher purchase price. 22.3.6 Despite the Purchaser having obtained bond finance as contemplated in Clause 3 of this agreement, the Seller Developer shall be entitled to market and accept a Competing Offer if the Purchaser has not accepted an offer on the Second Property.