Common use of ACCEPTANCE AND CONFIRMATION Clause in Contracts

ACCEPTANCE AND CONFIRMATION. 5.1 By signing this Agreement at the end of the auction or by private treaty, the Purchaser offers to purchase the Sale Object on the terms and conditions contained herein and the Purchaser’s offer shall remain open for acceptance by the Seller or by the Agent on behalf of the Seller, until the date specified in Schedule “2” (“confirmation period”). The Purchaser and the Agent acknowledge and agree that this provision is inserted and intended for the benefit of the Seller. 5.2 The Purchaser’s offer shall be deemed to have been accepted only when the Seller or the Agent duly authorised, has signed this Agreement and the Seller shall not be required to notify the Purchaser of the acceptance of its offer prior to expiry of the confirmation period. 5.3 Should the Seller reject the Purchaser’s offer, the Agent will then repay to the Purchaser any deposit and/or commission paid to it in terms of this Agreement. 5.4 In the event of the sale requiring the consent of any statutory authority or any court of law, then this sale is subject to the granting of such consent. 5.5 The Auctioneer/Agent shall, as expressly authorised by the Seller, have the right to extend the confirmation period with a reasonable time should the need arise, but not longer than an additional 14 days after the initial confirmation period as referred to in Schedule 2.

ACCEPTANCE AND CONFIRMATION. 5.1 By signing this Agreement at the end of the auction or by private treaty, the Purchaser offers to purchase the Sale Object on the terms and conditions contained herein and the Purchaser’s offer shall remain open for acceptance by the Seller or by the Agent on behalf of the Seller, until the date specified in Schedule “2” (“confirmation period”). The Purchaser and the Agent acknowledge and agree that this provision is inserted and intended for the benefit of the Seller. 5.2 The Purchaser’s offer shall be deemed to have been accepted only when the Seller or the Agent Agent, duly authorised, has signed this Agreement on behalf of the Seller and the Seller shall not be required to notify the Purchaser of the acceptance of its offer prior to expiry of the confirmation period. 5.3 Should the Seller reject the Purchaser’s offer, the Agent will then repay to the Purchaser any deposit and/or commission paid to it in terms of this Agreement. 5.4 In the event of the sale requiring the consent of any statutory authority or any court of law, then this sale Agreement is subject to the granting of such consent. 5.5 The Auctioneer/Agent shall, as expressly authorised by the Seller, have the right to extend the confirmation period with a reasonable time should the need arise, but not longer than an additional 14 days after the initial confirmation period as referred to in Schedule 2.

ACCEPTANCE AND CONFIRMATION. 5.1 By signing this Agreement at the end of the auction or by private treaty, the Purchaser offers to purchase the Sale Object on the terms and conditions contained herein and the Purchaser’s offer shall remain open for acceptance by the Seller or by the Agent on behalf of the Seller, until the date specified in Schedule “2” (“confirmation period”). The Purchaser and the Agent acknowledge and agree that this provision is are inserted and intended for the benefit of the Seller. 5.2 The Purchaser’s offer shall be deemed to have been accepted only when the Seller or the Agent duly authorisedAgent, whichever may be applicable, has signed this Agreement on behalf of the Seller and the Seller shall not be required to notify the Purchaser of the acceptance of its offer prior to expiry of the confirmation period. 5.3 Should the Seller reject the Purchaser’s offer, the Agent will then repay to the Purchaser any deposit and/or commission paid to it in terms of this Agreement. 5.4 In the event of the sale requiring the consent of any statutory authority or any court of law, then this sale is subject to the granting of such consent. 5.5 The Auctioneer/Agent shall, as expressly authorised by the Seller, shall have the right to extend the confirmation period with a reasonable time should the need arise, but not longer than an additional 14 days after the initial confirmation period as referred to in Schedule 2.