XXXX INTEREST. In the event of the Purchaser failing to comply with any of his obligations or any terms or conditions of the Contract on due date or in the event of there being any delay in connection with the registration of transfer for which the Purchaser is responsible, the Purchaser hereby undertakes to pay interest on the full purchase price at the prime overdraft rate charged from time to time by the Seller’s bank plus 2%, calculated from the date upon which the Purchaser is notified in writing by the Seller, or the Seller’s agent, as being in xxxx, to the date upon which the Purchaser ceased being in xxxx, both days inclusive. The Purchaser shall be obliged to pay such penalty interest to the Conveyancers before registration of transfer. A certificate signed by the conveyancers confirming the amount of such interest shall be conclusive proof of the amount owing by the Purchaser to the Seller.
XXXX INTEREST. 5.1 In the event of there being any delay in connection with the registration of transfer for which the Purchaser is responsible, the Purchaser undertakes to pay interest on the full purchase price at the rate of 2% (Two Percent) per annum above the prime lending rate charged from time to time by Investec Bank Limited, calculated from the date that the Purchaser has been notified in writing by the Seller, the Seller's Agent or Conveyancers, as being in xxxx, to the date upon which the Purchaser has ceased to be in xxxx. The Purchaser shall be obliged to secure payment of such sums to the satisfaction of the Conveyancers before registration of transfer. The Certificate signed by the Conveyancers confirming the amount of such interest shall be conclusive proof of the amount owing by the Purchaser to the Seller.
5.2 For the purposes of Clause 5.1 the Purchaser shall be deemed to be responsible for any delay in the registration of transfer which is caused by failure on the part of the institution from which he obtains mortgage finance, or any conveyancer appointed by such institution, to procure the issue of guarantees as contemplated in Clause 3.3.3 or to lodge documents with the Registrar of Deeds when called upon to do so.
XXXX INTEREST. In the event that transfer of the Unit is delayed by an act or omission on the part of the Purchaser, whether as a result of any failure to supply the Seller’s Attorney with information required by them, delays in the signing of transfer or bond documents, delays in the payment of transfer or bond registration costs or any delay in satisfying the requirements of the financial institution granting the loan or any other default on the part of the Purchaser, then the Purchaser shall be responsible for payment to the Seller of an increased occupational rental at a rate of interest as stipulated in Clause 1.1.9 above on the Purchase Price, from the date on which transfer would but for such delay have otherwise been registered to the date of the actual registration of transfer. For the purpose of this clause the Seller’s Attorney assessment of the date on which transfer would otherwise have been registered shall be binding upon the Purchaser unless the same is proved to be unreasonable.
XXXX INTEREST. 22.1 In the event of there being any delay in connection with the DATE OF TRANSFER for which the PURCHASER is responsible, the PURCHASER agrees, in addition to any other payments due in terms of this AGREEMENT, to pay interest on the full (VAT inclusive) Purchase Price of the PROPERTY at the prime overdraft rate charged by Nedbank Limited from time to time calculated from the date the PURCHASER is notified in writing by the SELLER (or the SELLER's agent) as being in xxxx, to the date upon which the PURCHASER has ceased to be in xxxx, both days inclusive.
22.2 A certificate by any manager of the said bank as to such prime overdraft rate from time to time shall be prima facie proof of suchrate.
XXXX INTEREST. 13.1 Penalty interest shall be charged at 5% above the prime rate charged from time to time by Standard Bank of South Africa Limited ("the prime rate") on every amount payable by the Purchaser to the Developer in terms of this Agreement, should any such amount not be paid on due date whether such date is fixed in this Agreement or specified in a written demand made by or on behalf of the Developer to the Purchaser. Such penalty interest shall accrue from the due date for payment until the actual date of payment of such amount both days inclusive, and shall be paid by the Purchaser to the Developer prior to transfer of the Property.
13.2 Should the Purchaser fail to deliver the guarantee(s) on or before the due date specified in 3.2 above or should the Purchaser fail to comply with any of the Purchaser's obligations relating to transfer as specified in 6 above, then penalty interest will be charged at 5% above the prime rate on the balance of the purchase price. Such penalty interest will accrue from the due date for delivery of the guarantee(s) up until whichever is the later of the actual date of delivery of the guarantee(s) and the date upon which the Purchaser has complied with all the Purchaser's obligations relating to transfer, and shall be paid by the Purchaser to the Developer prior to transfer of the property.
XXXX INTEREST. 28.1 In the event of there being any delay in connection with the registration of transfer for which the Buyer is responsible, the Buyer agrees to pay interest on the full purchase price at the prime overdraft rate charged by Investec Bank (from time to time) plus 3% (three percent), calculated from the date the Buyer is notified in writing by the Seller (or the Seller's agent) as being in xxxx, to the date upon which the Buyer has ceased to be in xxxx, both days inclusive.
28.2 A certificate by any manager of the said Bank as to such prime overdraft rate from time to time shall be prima facie proof of such rate.
XXXX INTEREST. 20.1 In the event of there being any delay in connection with the registration of transfer for which the Purchaser is responsible, the Purchaser agrees to pay interest on the full purchase price at the prime interest rate charged by the Standard Bank of South Africa Limited on mortgage bond facilities from time to time calculated from the date the Purchaser is notified in writing by the Seller (or the Seller’s agent) as being in xxxx, to the date upon which the Purchaser has ceased to be in xxxx, both days inclusive.
20.2 If, at any time the Purchaser fails to make payment of any amount which is at that time owing due and payable to the Seller, the Purchaser agrees to pay interest on the full outstanding amount at the prime interest rate charged by the Standard Bank of South Africa Limited on mortgage bond facilities from time to time calculated from the date the Purchaser is notified in writing by the Seller (or the Seller’s agent) as being in xxxx, to the date upon which the Purchaser has ceased to be in xxxx, both days inclusive.
20.3 A certificate by any Branch Manager of the said bank as to such prime interest rate on mortgage bond facilities, shall be prima facie proof of such rate.
XXXX INTEREST. 4.1 In the event of there being any delay in registration of transfer as a result of either party’s failure to comply with their obligations in terms of this Agreement, they shall be obliged to pay the other party, in addition to any payment of occupational rental interest on the full purchase price at the prime interest rate, calculated from the date on which the defaulting party is placed in xxxx in writing by the aggrieved party or their agents, to the date upon which the defaulting party ceases to be in xxxx.
4.2 The defaulting party shall be obliged to secure payment of such sum to the satisfaction of the conveyancers before registration of transfer. A letter signed by the conveyancers confirming the amount of such interest shall be prima facie proof of the amount of xxxx interest owing by the defaulting party.
XXXX INTEREST. In the event of the Purchaser causing a delay in the registration of transfer, through any act of omission or commission whatsoever, or in the event of the delay in registration of transfer and the mortgage bond being in any way the responsibility of the Purchaser, the Purchaser shall be obliged to pay and hereby undertakes to pay interest on the full Purchase Price at the rate of 12% (TWELVE PERCENT) per annum calculated from the date that the Purchaser has been notified in writing by the Seller or the Conveyancer as being in xxxx to the date upon which registration of transfer is effected or until the date of compliance with the Purchaser's obligations under the agreement as certified by the Conveyancer, whichever is the sooner. The Purchaser shall be obliged to make payment of such sum to the satisfaction of the Conveyancer before registration of transfer and a certificate signed by the Conveyancer confirming the amount of such interest due in terms hereof shall be satisfactory proof of the amount owing by the Purchaser to the Seller in terms hereof.
XXXX INTEREST. In the event of there being a delay in connection with the registration of transfer for which either party is responsible, the party delaying shall compensate the other party by way of an interest payment on the PURCHASE PRICE calculated at the rate of 15% per annum reckoned from the date upon which the party delaying receives written notice from the other party or their agent/CONVEYANCER as being in Xxxx, to the date upon which the delaying party ceases to be in Xxxx.
