Examples of Occupation Right Agreement in a sentence
The Operator shall notify the Resident of the rules and any changes thereto, and the Resident agrees to comply with such rules and regulations and changes thereto as a condition of the continuation of this Occupation Right Agreement.
The Operator is not obliged to accept any prospective Resident who does not meet the Operator’s normal entry criteria or whose offer for an Occupation Right Agreement does not meet market value or conditions.
This Occupation Right Agreement shall terminate upon the death of the Resident, or, where two Residents have jointly signed this Occupation Right Agreement, upon the death of the surviving Resident.
The rules shall not be contrary to the terms of this Occupation Right Agreement and in the event of any conflict the terms of this Occupation Right Agreement shall prevail.
If the Resident or the Operator defaults in payment of any monies payable under this Occupation Right Agreement for 14 days then the Resident or the Operator respectively shall on demand pay interest on the monies unpaid from the due date for payment down to the date of payment at the rate of 4% per annum above the bank overdraft interest rate of the Operator calculated on a daily basis.
In respect of a Rest Home Apartment Occupation Right Agreement the Resident’s possessions and belongings shall be removed within 7 days during which time the Service Fee continues to be payable.
This Occupation Right Agreement shall terminate upon the expiry of one calendar month’s written notice from the Resident terminating the Occupation Right Agreement for any reason PROVIDED HOWEVER that subject to clauses 3.2(j) and 3.2(k), the Resident shall continue to be liable for all payments under clause 3.
The Operator shall give to the Resident (or his or her nominated representative) a copy of the Code of Residents’ Rights before the Resident enters into this Occupation Right Agreement, and also on request.
The nature of the right to occupy the Unit or Rest Home Apartment is a contractual Occupation Right Agreement that does not grant the Resident any interest in land of the Unit or Rest Home Apartment.
The Operator’s obligation to repay the Capital Repayment Entitlement is subject to the Operator issuing a new Occupation Right Agreement for the Unit or Rest Home Apartment to a third party.