SUSPENSIVE CONDITION i) The contract only becomes binding and enforceable once:
a. the Parties have signed this contract and the PRODUCER has received a MEATCO confirmation letter stipulating the applicable xxxxxxxxx period and cattle quantity to be delivered to MEATCO;
b. MEATCO agrees to provide a xxxxxxxxx allocation to the PRODUCER on a first come first served basis principle, and at the sole discretion of MEATCO; and
c. the PRODUCER has provided, within 10 business days of MEATCO’s request, a guarantee or security for the payment of the maximum penalty capable of being imposed in terms of clause A. vi) above to the satisfaction of MEATCO.
SUSPENSIVE CONDITION. 5.1 This agreement is subject to the fulfilment of the suspensive condition that, if applicable, the purchaser obtains a loan from a South African bank or other South African financial institution, which is reasonably acceptable to the seller, on terms acceptable to the seller in the sum stipulated in the schedule (or such lesser amount as the purchaser may agree to accept) against the security of a first mortgage bond over the property.
5.2 If the suspensive condition provided for in clause 5.1 is not fulfilled within 20 (twenty) business days after the signature date, or within such extended period as the seller in its sole discretion may allow, which extension shall not exceed a further 20 (twenty) business days, then and in such event this agreement shall terminate and shall be of no further force and effect. In such event the parties shall be restored as near as may be possible to the position each would have been in if this agreement not been entered into at all.
5.3 The purchaser shall, on or prior to the date referred to in clause 5.2 above, provide the conveyancers with written confirmation by the said bank or financial institution of the final approval of the loan. The loan referred to in clause 5.1 shall be deemed to have been obtained when the bank or financial institution provides the purchaser with a quotation and offer a secured loan in terms of the provisions of the National Credit Act, No. 34 of 2005, irrespective of whether such quotation and offer has been signed and accepted by the purchaser.
5.4 The suspensive condition recorded in clause 5.1 is incorporated herein for the sole benefit of the purchaser who shall be entitled to waive the benefit thereof in writing at any time prior to the date stipulated for the fulfilment thereof. In the event of the purchaser electing to waive the benefit of the suspensive condition, the suspensive condition shall be deemed to have been fulfilled.
5.5 The purchaser shall take all steps reasonably necessary to procure the timeous fulfilment of the suspensive condition.
5.6 All costs relating to the registration of the mortgage bond shall be borne by the Purchaser.
SUSPENSIVE CONDITION. 18.1 This agreement has been concluded subject to the suspensive condition that the Intern satisfies the conditions governing admission to an Internship by no later than the start of the Internship period. The precise conditions applicable for admission to an Internship are stipulated in the applicable Education and Examination and/or Internship Regulations.
SUSPENSIVE CONDITION. 6.1 This offer is subject to the suspensive condition that the Purchaser or the agent on behalf of the Purchaser obtains loan finance in the amount of: The quotation and pre-agreement statement (loan finance) is to be issued in principle within 14 (fourteen) days of date of acceptance hereof or such later date as the Seller may agree to in writing which period will not exceed 30 (thirty) days.
6.1.1 The Purchaser hereby warrants in favour of the Seller that it is able to afford and obtain finance from a recognised, registered financial institution so as to comply with its financial requirements in terms hereof.
6.2 The Purchaser hereby irrevocably –
6.2.1 undertakes and agrees to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or
6.2.2 Authorises and instructs the Seller and/or the Seller's representative in rem suam to apply to a registered financial institution and to sign all such document(s), for the finance contemplated herein, for and on behalf of the Purchaser. In this regard, the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require.
6.3 Should the Suspensive Condition referred to in clause 6.1 above not be fulfilled or waived then this Agreement shall lapse and be of no further force or effect and the provisions of clause 6.5 below shall apply.
6.4 If the suspensive condition is not fulfilled for any reason whatever and is not waived by the Seller, then –
6.4.1 this whole Agreement (other than the provisions hereof by which the parties shall be bound) shall be of no force or effect;
6.4.2 the parties shall be entitled to be restored as near as possible to the positions in which they would have been, had this Agreement not been entered into; and
6.5 No party shall have any claim against any other in terms of this Agreement except for such claims (if any) as may arise from a breach of this clause or from any other provision of this Agreement by which the parties remain bound.
SUSPENSIVE CONDITION. 12.1 This Agreement is subject to the fulfilment of the suspensive condition namely that, simultaneously with the signature of this Building Agreement, the Agreement of Sale is concluded and becomes unconditional to its terms except for the condition that this Building Agreement becomes unconditional to its terms.
12.2 If the aforesaid suspensive condition is not fulfilled within the time period contemplated above or any other date agreed to in and between the Parties to it in writing then this Agreement shall automatically lapse and be of no further force and effect and no Party shall have any claim against the other of them as a result of the failure of the suspensive condition.
SUSPENSIVE CONDITION. This agreement has been concluded subject to the suspensive condition that the student satisfies the conditions governing admission to an internship by no later than the start of the internship period. The precise conditions applicable for admission to an internship are stipulated in the applicable education and examination and/or internship regulations.
SUSPENSIVE CONDITION. The contractual parties to this Agreement want to have the following condition and statements added to this Agreement: -
5.20.1 The contractual parties agree that they are in their right-mind and therefore capable to enter into this Agreement.
5.20.2 The contractual parties agree to work being done on the Estate.
5.20.3 The work is conditional to an occurrence, being that the responsible parties complete the work, as agreed in this Agreement.
5.20.4 The work will commence on the _______day of__________20___ and be completed on the _______day of 20___.
5.20.5 If the work is not completed by close of business on the date specified above, the responsible parties will be in breach of this Agreement.
5.20.1 The responsible parties will be fined a Penalty Levy equivalent of 1 (one) month presiding general xxxx, at the time for every month or pro-rate thereof, if the work is not completed on time, whereafter the work must be completed, as agreed, and/or;
5.20.2 The HOA/Estate and/or its representative(s) can cancel the Agreement, after giving 14 (fourteen) days written notice to the responsible parties and thereafter be entitled to recover damages.
SUSPENSIVE CONDITION. 2.1 The whole of this Agreement, other than the preamble and the provisions of clause 1, this clause 2, clause 5.2, clauses 6 to 24, which shall be of immediate force and effect on the Signature Date, is subject to the fulfilment of the following suspensive condition, that by no later than 15 December 2013, the BPJV Shareholders Agreement has been terminated in accordance with the Consolidation Agreements.
2.2 Forthwith after the Signature Date, the Parties shall use their respective reasonable endeavours and co-operate in good faith to procure the fulfilment of the Suspensive Condition, to the extent that it is within their power to do so, as expeditiously as reasonably possible.
2.3 The Suspensive Condition has been inserted for the benefit of both the Parties, who will be entitled to waive fulfilment of same by written agreement prior to the expiry of the relevant time period set out in clauses 2.1 (or such time period as extended in accordance with clause 2.4).
2.4 Unless the Suspensive Condition has been fulfilled or waived by not later than the relevant dates for fulfilment thereof set out in clause 2.1 (or such later date or dates as may be agreed in writing between the Parties before the aforesaid date or dates), the provisions of this Agreement, save for clause 1, this clause 2, clause 6 and clause 12 to 24, which will remain of full force and effect, will never become of any force or effect and the status quo ante will be restored as near as may be possible and neither of the Parties will have any claim against the other in terms hereof or arising from the failure of the Suspensive Condition, save for any claims arising from a breach of clause 2.2 and/or any prior breach of any of the provisions of this Agreement which became effective prior to the Fulfilment Date.
SUSPENSIVE CONDITION. The effectiveness of the obligations contained in this CONTRACT shall be subordinated, pursuant to article 125, of Law 10,406, of January 10, 2002, as amended (“Civil Code”), to the sending of the MOBILIZATION ORDER (“Suspensive Condition”).
13.3.1. The PARTIES acknowledge and agree that this CONTRACT: (i) contains all the essential premises and elements to the consummation of the transactions provided for herein and, therefore, is subject to specific performance by any of the PARTIES under the terms provided for herein based on Articles 463 and 464 of the Civil Code; and (ii) is not subject to repentance by any of the PARTIES.
13.3.2. If the MOBILIZATION ORDER is not sent within the TERM LIMIT, the SUSPENSIVE CONDITION will not be verified and this CONTRACT will have no effect before either PARTY.
SUSPENSIVE CONDITION. This Agreement is subject to the following suspensive conditions, that –
4.1 within 21 (twenty one) days of the Signature Date (which date may be extended by the Seller in its sole discretion and without written notice to the Purchaser by a further period not exceeding 60 (sixty) days), the Purchaser will have –
4.1.1 been granted a loan, for the amount referred to in clause 3.1.3 above, by a financial institution, as may be agreed to in writing by the Seller, to be secured by a mortgage bond against the Property; or
4.1.2 deposited the amount referred to in clause 3.2 above, into the trust account of the Conveyancers, to be invested and paid in accordance with clause 3 of this Agreement;
