Cancellation of Transaction. If the Buyer fails to pay all of the Purchase Price to the Company in full within 90 days from the Sale Date, the Seller shall, after giving the Company written notice and obtaining the Company’s consent, have the right to cancel the transaction, and the Company will give the Buyer a notice of cancellation of the transaction within 7 working days from the date on which the Company gives its consent to the Seller’s decision to cancel the transaction. If the Seller applies for the cancellation of transaction, the amount of Purchase Price received by the Seller from the Buyer (“Received Amount”) shall be returned in full to the Company. If the Seller refuses to return the Received Amount in full for any reason, such as compensation for losses, the Company shall have the right to refuse the Seller's application to cancel the transaction. If, at the time the Seller serves the notice of cancellation of the transaction on the Company, the Buyer has paid all of the Purchase Price in full and/or has completed the procedure for taking delivery of the Auction Property, the Seller’s notice of cancellation of the transaction shall automatically be deemed void, performance of the transaction shall continue, and the Seller shall offer necessary cooperation and may not raise any objections in respect thereof. If the Seller cancels the transaction, he or she shall collect the Auction Property (packaging and removal costs of which shall be at the Seller’s own expense) within 30 days from the date of receipt of the collection notice from the Company. If the Seller fails to collect the Auction Property by the deadline, he or she shall pay the Company a daily storage fee in the amount specified in the Contract of Auction by Consignment starting from the day immediately following the expiration of the deadline. If the Seller fails to collect the Auction Property within 90 days after the expiry of the deadline, the Company shall have the right to execute in accordance with Article 32 hereof.
