Common use of LODGEMENT OF CAVEAT Clause in Contracts

LODGEMENT OF CAVEAT. 15.1 At any time after the date hereof, the Purchaser shall be entitled at their own cost and expense to present and register private caveat against the Property for the purpose of protecting the Purchaser’s interest in the Property and prohibiting any dealing by the Vendor in the Property prior to the completion or lawful termination of this Agreement PROVIDED THAT the Purchaser hereby irrevocably and unconditionally agree and covenant with and undertake to the Vendor that the Purchaser shall at their own costs and expense forthwith remove or cause to be removed the aforesaid private caveat or private caveats upon any lawful termination of this Agreement. The Purchaser shall upon execution of the entry of private caveat execute a withdrawal of private caveat and deposit the same together with the required fees for registration with the Purchaser’s Solicitors who are irrevocably authorised by the Purchaser to forthwith remove or cause to be removed the aforesaid private caveat upon lawful termination of this Agreement.