Common use of Delay Event Clause in Contracts

Delay Event. (1) This clause 6.3 applies if a party is unable to perform a Settlement Obligation solely as a consequence of (1) covenants by the Tenants under the Tenancies; (2) guarantees and Bonds (subject to the requirements of the Residential Tenancies and Rooming Accommodation Act 2008) supporting the Tenancies; a Delay Event but does not apply where the inability is attributable to: (a) damage to, destruction of or diminution in value of the Property or other property of the Seller or (4) manufacturer’s warranties regarding the Included Chattels; and builders’ warranties on the Improvements; Buyer; or

Appears in 5 contracts

Sources: Contract for Houses and Residential Land, Contract for Houses and Residential Land, Contract for Houses and Residential Land