Common use of TRANSFER AND CESSION Clause in Contracts

TRANSFER AND CESSION. 8.1 Transfer of the Section and cession of the right to the Exclusive Use Areas shall be registered by the Attorneys as soon as is reasonably possible after the Completion Date and simultaneously with or as soon as possible after the opening of the Register, provided the Purchaser has fully complied with clause 6 above and clause 8.2 below. 8.2 The Purchaser shall upon request by the Attorneys: 8.2.1 pay all costs of transfer of the Section and the cession of the right to the Exclusive Use Areas, together with VAT in respect of such costs; 8.2.2 pay all costs incurred in and ancillary to the preparation for and registration of the mortgage bond, and where such mortgage bond is not attended to and registered by the Attorneys, pay all costs incurred in and ancillary to the preparation for and registration of the mortgage bond by such other attorneys; and 8.2.3 sign all preliminary transfer, loan and mortgage bond documents. 8.3 In the event of the Purchaser failing to comply, within 7 (seven) days of being requested by the Attorneys, with the requirements of clauses 8. 2.1 to 8.2.3, or where applicable, to ensure that all ancillary documentation is satisfactorily completed, then, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price at a rate of 5% (five percent) above the Prime Rate for the period of the delay. 8.4 In the event of registration of transfer to the Purchaser being delayed as a consequence of a default on the part of the Purchaser, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price, at a rate of 5% (five percent) above the Prime Rate calculated from the date transfer would have taken place had it not been for the default of the Purchaser until the date of actual transfer, both dates inclusive. 8.5 In the event that minor work and/or rectification in the discretion of the Architect still has to be done in the Section, notwithstanding that he has given a signed certificate that the Section is available and ready for beneficial occupation, the Purchaser hereby agrees to take transfer of the Section and cession of the right to the Exclusive Use Areas and shall comply with all his obligations in terms of the Agreement. 8.6 The Purchaser warrants that all his tax affairs are in order.

TRANSFER AND CESSION. 8.1 Transfer of the Section and cession of the right to the Exclusive Use Areas shall be registered by the Attorneys as soon as is reasonably possible after the Completion Occupation Date and simultaneously with or as soon as possible after the opening of the RegisterRegister , provided the Purchaser has fully complied with clause 6 above and clause 8.2 below. 8.2 The Purchaser shall upon Upon request by the Attorneys: 8.2.1 The Purchaser shall pay all costs of transfer of the Section and the cession of the right to the Exclusive Use AreasSection, together with VAT in respect of such costs; 8.2.2 pay all costs incurred in and ancillary to the preparation for and registration of the mortgage bond, and where such mortgage bond is not attended to and registered by the Attorneys, The Purchaser shall pay all costs incurred in and ancillary to the preparation for and registration of the mortgage bond , requested by such other attorneysthe attorneys attending to the registration of the mortgage bond; and 8.2.3 The Purchaser shall sign all preliminary transfer, loan and mortgage bond documents. 8.3 In the event of the Purchaser failing fai ling to comply, within 7 (seven) days of being requested by the Attorneys, with the requirements of clauses 8. 2.1 to 8.2.3, or where applicable, to ensure that all ancillary documentation is satisfactorily completed, then, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price at a rate of 5% (five percent) above the Prime Rate for the period of the delay. 8.4 In the event of registration of transfer to the Purchaser being delayed as a consequence of a default on the part of the Purchaser, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price, at a rate of 5% (five percent) above the Prime Rate calculated from the date transfer would have taken place had it not been for the default of the Purchaser until the date of actual transfer, both dates inclusive. 8.5 In the event that minor work and/or rectification rectificatio n in the discretion of the Architect still has to be done in the Section, notwithstanding that he has given a signed certificate that the Section is available and ready for beneficial occupation, the Purchaser hereby agrees to take transfer of the Section and cession of the right to the Exclusive Use Areas and shall comply with all his obligations in terms of the Agreement. 8.6 The Purchaser warrants that all his tax affairs are in order.

TRANSFER AND CESSION. 8.1 Transfer of the Section and cession of the right to the Exclusive Use Areas shall be registered by the Attorneys as soon as is reasonably possible after the Completion Date and simultaneously with or as soon as possible after the opening of the Register, provided the Purchaser has fully complied with clause 6 above and clause 8.2 below.Purchaser 8.2 The Purchaser shall upon request by the Attorneys: 8.2.1 pay all costs of transfer of the Section and the cession of the right to the Exclusive Use Areas, together with VAT in respect of such costs; 8.2.2 pay all costs incurred in and ancillary to the preparation for and registration of the mortgage bond, and where such mortgage bond is not attended to and and where such registered by the Attorneys, pay all costs incurred in and ancillary to the preparation for and registration of the mortgage m ortgage bond by such other attorneys; andattorneys;and 8.2.3 sign all preliminary transfer, loan and documents. mortgage bond documents.bond 8.3 In the event of the Purchaser failing to comply, within 7 (seven) days of being requested by the Attorneys, with the requirements of clauses 8.clauses 2.1 8.2.1 to 8.2.3, or where applicable, to ensure that all ancillary documentation is satisfactorily completed, then, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price at a rate of 5% (five percent) above the Prime Rate for delay. the period of the delay.the 8.4 In the event of registration of transfer to the Purchaser being delayed as a consequence of a default on the part of the Purchaser, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price, at a rate of 5% (five percent) above the Prime Rate calculated from f rom the date transfer would have taken place had it not been for the default of the Purchaser until the date both dates inclusive. of actual transfer, both dates inclusive., 8.5 In the event that minor work and/or rectification in the discretion of the Architect still has to be done in the Section, notwithstanding that he has given a signed certificate that the Section is available and ready for beneficial occupation, the Purchaser hereby agrees to take transfer of the Section and cession of the right to the Exclusive Use Areas and shall comply with all his obligations in terms of the Agreement. 8.6 The Purchaser warrants that all his tax affairs are in order.

TRANSFER AND CESSION. 8.1 6.1. Transfer of the Section and cession of the right to the Exclusive Use Areas shall be registered by the Attorneys as soon as is reasonably possible after the Completion Occupation Date and simultaneously with or as soon as possible after the opening of the Register, provided . In the event of the Purchaser has fully complied with clause 6 above funding, whether partially or in full, the purchase of the Unit by way of a mortgage bond, the Purchaser shall endeavour that the registration of such mortgage bond be effected and clause 8.2 belowregistered by the Attorneys. 8.2 6.2. The Purchaser shall upon request by the Attorneys: 8.2.1 6.2.1. pay all costs of transfer of the Section Unit and the cession of the right to the Exclusive Use Areas, including but not limited to conveyancing costs, costs of all necessary affidavits, Deeds Office fees and all other costs which have to be incurred in order to comply with the statutes or other enactments or regulations relating to the transfer and registration of the bond, if applicable, together with VAT in respect of such costs; 8.2.2 pay all costs incurred in and ancillary to the preparation for and registration of the mortgage bond, and where such mortgage bond is not attended to and registered by the Attorneys, pay all costs incurred in and ancillary to the preparation for and registration of the mortgage bond by such other attorneys; and 8.2.3 6.2.2. sign all preliminary transfer, loan and mortgage bond transfer documents. 8.3 6.3. In the event of the Purchaser failing to comply, within 7 5 (sevenfive) days of being requested by the Attorneys, Attorneys to comply with the requirements of clauses 8. 2.1 to 8.2.36.2.1 and 6.2.2, or where applicable, to ensure that all ancillary documentation is satisfactorily completed, then, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price Total Purchase Price at a rate of 5% (five percent) above the Prime Rate for the period of the delay. 8.4 In the event of registration of transfer to the Purchaser being delayed as a consequence of a default on the part of the Purchaser, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price, at a rate of 5% (five percent) above the Prime Rate calculated from the date transfer would have taken place had it not been for the default of the Purchaser until the date of actual transfer, both dates inclusive. 8.5 6.4. In the event that minor work and/or rectification in the discretion of the Architect Principal Agent still has to be done in the SectionUnit, notwithstanding that he has given a signed certificate that the Section is available and ready for beneficial occupationCertificate of Practical Completion, the Purchaser hereby agrees to take transfer of the Section Unit and cession of the right to the Exclusive Use Areas and shall comply with all his obligations in terms of the Agreement. 8.6 6.5. The Purchaser warrants that shall accept transfer of the Unit subject to all his tax affairs are conditions and servitudes benefitting or burdening the Property, whether existing or hereafter imposed by any competent authority and/or imposed by the Seller, the Rules of the Body Corporate in orderforce from time to time and any amendments thereto, as well as the additional Conditions of Title (“Annexure E”) which the Seller will impose when opening the Register. 6.6. Without prejudice to any other rights it may have, the Seller shall be entitled to withhold transfer in the event of any monies being outstanding by the Purchaser whether in respect of the Total Purchase Price, costs, occupational rental, levies or any other amount under this Agreement. 6.7. The Purchaser shall not be entitled to resile from the Agreement nor to hold the Seller liable for damages or otherwise in the event of delays in the registration of the Sectional Plan.

TRANSFER AND CESSION. 8.1 Transfer of the Section and Sectionand cession of the right to the Exclusive Use Areas shall be registered by the Attorneys as soon as is reasonably possible after the Completion Date and simultaneously with or as soon as possible after the opening of the Register, provided the Purchaser has fully complied with clause 6 above and clause 8.2 below. 8.2 The Purchaser shall upon request by the Attorneys: 8.2.1 pay all costs of transfer of the Section and Sectionand the cession of the right to the Exclusive Use Areas, together with VAT in respect of such costs; 8.2.2 pay all costs incurred in and ancillary to the preparation for and registration of the mortgage bond, and where such mortgage bond is not attended to and and where such registered by the Attorneys, pay all costs incurred in and ancillary to the preparation for and registration of the mortgage m ortgage bond by such other attorneys; andattorneys;and 8.2.3 sign all preliminary transfer, loan and documents. mortgage bond documents.bond 8.3 In the event of the Purchaser failing to comply, within 7 (seven) days of being requested by the Attorneys, with the requirements of clauses 8. 2.1 to 8.2.38.2.1to8.2.3, or where applicable, to ensure that all ancillary documentation is satisfactorily completed, then, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price at a rate of 5% (five percent) above the Prime Rate for the period of the delay. 8.4 In the event of registration of transfer to the Purchaser being delayed as a consequence of a default on Purchaser being the part of the Purchaser, the Purchaser shall pay to the Seller, monthly in advance, interest on the full purchase price, at a rate of 5% (five percent) above the Prime Rate calculated from the date transfer would have taken place had it not been for the default of the Purchaser until the date of actual transfer, both dates inclusive. 8.5 In the event that minor work and/or rectification in the discretion of the Architect still has to be done in the Section, notwithstanding that he has given a signed certificate that the Section is Sectionis available and ready for beneficial occupation, the Purchaser hereby agrees to take transfer of the Section and Sectionand cession of the right to the Exclusive Use Areas and shall comply with all his obligations in terms of the Agreement. 8.6 The Purchaser warrants that all his tax affairs are in order.