Common use of TIME AND DATE Clause in Contracts

TIME AND DATE. (1) Settlement must occur: (a) between 9am and 4pm AEST on the Settlement Date; and (b) subject to clause 5.1(2), in the Place for Settlement at the office of a solicitor, Financial Institution or settlement agent nominated by the Seller. (2) If the Seller has not nominated an office under clause 5.1(1)(b) or the parties have not otherwise agreed where settlement is to occur by 5pm on the date 2 Business Days before the Settlement Date, section 61(2)(c) of the Property Law ▇▇▇ ▇▇▇▇ applies.