Liability of Purchaser Sample Clauses
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Liability of Purchaser. 18.1 If the PURCHASER is more than 1 (one) person, then all the persons signing the agreement shall jointly, severally and in solidum be liable for the due performance of its obligations in terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions de duobus vel pluribus ▇▇▇▇ debendi.
18.2 If this agreement is entered into by the PURCHASER in a representative capacity, then the signatory binds himself as surety and co-principal debtor in favour of the represented party for the due performance of his principal in terms of this agreement and the PURCHASER hereby renounces all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus ▇▇▇▇ debendi.
18.3 If this agreement is entered into by the signatory as Trustee for a Company or Close Corporation to be formed or already formed, or on behalf of himself or his nominee, then in that instance the signatory shall in his personal capacity as surety and co-principal debtor be liable for the due fulfilment of all the obligations of such party in terms of this agreement, specifically including but not limited to the payment of interest and or levies.
i. the Close Corporation or Company to be formed is not formed before or on the date on which payment of the outstanding balance or guarantees in terms of clause 4 of this agreement is to be furnished; or
ii. the Close Corporation or Company is formed, but does not ratify, adopt and accept this agreement; or
iii. the Close Corporation of Company ratifies, adopts and accepts this agreement, but does not perform timeously in terms thereof; or
iv. if a Close Corporation or Company which has already been formed and such Company and Close Corporation fail to perform timeously in terms of this agreement; or
v. such party nominates another person and the person thus nominated does not accept or does accept the nomination, but fails to perform timeously in terms of this agreement.
18.4 The trustee referred to in 18.3 above hereby renounces all benefits arising from the legal exceptions that may be applicable, namely ordinis seu execusionis et divisionis and de duobus vel pluribus ▇▇▇▇ debendi.
18.5 If this agreement is entered into by the PURCHASER as the founder of a trust to be created, then the signatory binds himself as surety and co-principal debtor in favour of the represented party for the due performance by his principal of the terms of this agr...
Liability of Purchaser. Except for any obligation expressly assumed or agreed to be assumed by the Purchaser hereunder, the Purchaser does not assume any obligation of the Seller or any liability for claims arising out of any occurrence prior to Closing.
Liability of Purchaser. Purchaser and Provider acknowledge that Purchaser has legal liabilities under its contract with various State and Federal agencies and that nothing herein shall relieve, or be construed to relieve, Purchaser of its obligations under those contracts. Any term in this contract that is later determined to be inconsistent with Purchaser's obligations under its contract with the above stated agencies, or that in any way terminates Purchaser's legal liability to the above stated agencies, shall become null and void.
Liability of Purchaser. If the Purchaser shall default in the performance of any obligation under this Agreement and such default entitles the Vendor to terminate this Agreement, such right of termination will be the Vendor's only remedy and the Vendor will be entitled to retain the Deposit as liquidated damages and not as a penalty.
Liability of Purchaser. The fact that Purchaser is not obligated to indemnify Seller hereunder shall not be construed so as to limit the rights or remedies that Seller may otherwise have against Purchaser, whether under this Agreement or applicable law, in the event of (a) any breach or inaccuracy of a representation or warranty of Purchaser contained in this Agreement or (b) any failure by Purchaser to perform or comply with any covenant given by Purchaser contained in this Agreement.
Liability of Purchaser. At the Closing, Purchaser shall assume all Liability for Property and Production Taxes attributable to the ownership or operation of the Acquired Assets with respect to all taxable periods that begin before, on, or after the Effective Time, and all Liability for Property and Production Taxes attributable to the Straddle Period (and all such Property and Production Taxes with respect to all such taxable periods shall be deemed completely and finally settled by the related Purchase Price adjustment under Section 3.2).
Liability of Purchaser. The Purchaser shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Purchaser under this Agreement and the representations made by the Purchaser in this Agreement.
Liability of Purchaser. INDEMNIFICATION BY SELLER; -------------------------------------------------- TERMINATION RIGHTS ------------------
Liability of Purchaser. Property and Production Taxes attributable to periods of time prior to the Effective Time, to the extent not actually assessed or otherwise determined as of the Execution Date (for purposes of the Preliminary Settlement Statement) and as of the Final Settlement Date (for purposes of the Final Settlement Statement), shall be computed based on each applicable Tax for the preceding tax year and prorated between Seller and Purchaser as of the Effective Time on the Preliminary Settlement Statement and prorated and readjusted as appropriate on the Final Settlement Statement in accordance with such calculation methodology and any additional assessment, determination or corrective information received as of the Final Statement Date.
Liability of Purchaser. For a period of eighteen months following the Closing, Purchaser shall be liable to Seller for all costs, damages and reasonable expenses (including reasonable attorney's fees) suffered by Seller arising out of any misrepresentation or breach of any warranty or breach of the covenants or other obligations of Purchaser under or in connection with this Agreement.