Common use of SURETYSHIP Clause in Contracts

SURETYSHIP. If the Purchaser is a company or close corporation or trust or other juristic person or other entity, the person who signs this Agreement in the name of such company or close corporation or trust or other juristic person or other entity warrants that the company or close corporation or trust or other juristic person or other entity is registered in terms of the applicable legislation and binds himself as surety and co-principal debtor with such company or close corporation or trust or other juristic person or other entity in favour of the Seller for all the obligations of such company or close corporation or trust or other juristic person or other entity in terms of this Agreement. Such person shall be personally liable as Purchaser in terms of this Agreement if such company or close corporation or trust or other juristic person or other entity legally does not exist, or for whatever reason is not bound to this Agreement or fails to comply with the provisions hereof.

SURETYSHIP. If the Purchaser is a company or close corporation or trust or other juristic person or other entity, the person who signs this Agreement in the name of such company or close corporation or trust or other juristic person or other entity warrants that the company or close corporation or trust or other juristic person or other entity is registered in terms of the applicable legislation and binds himself as surety and co-co- principal debtor with such company or close corporation or trust or other juristic person or other entity in favour of the Seller for all the obligations of such company or close corporation or trust or other juristic person or other entity in terms of this Agreement. Such person shall be personally liable as Purchaser in terms of this Agreement if such company or close corporation or trust or other juristic person or other entity legally does not exist, or for whatever reason is not bound to this Agreement or fails to comply with the provisions hereof.