Common use of OCCUPATIONAL INTEREST Clause in Contracts

OCCUPATIONAL INTEREST. Should transfer take place after the Occupation Date, the Purchaser shall pay to the Seller occupational interest calculated on the purchase price at the Prime Rate from the date of occupation to date of transfer both dates inclusive, which rental shall be paid monthly in advance (on the first day of every calendar month) from the Occupation Date to the date of transfer aforesaid. In the event of registration of transfer being effected during the course of a calendar month, the Purchaser shall be refunded occupational interest overpaid. The Purchaser shall also be responsible for all electricity and (where applicable) water consumed in the unit as from the Occupation Date.

OCCUPATIONAL INTEREST. Should transfer take place after the Occupation Date, the Purchaser shall pay to the Seller occupational interest calculated on the purchase price at the Prime Rate from the date of occupation to date of transfer both dates inclusive, which rental shall be paid monthly in advance (on the first day of every calendar month) from the Occupation Date to the date of transfer aforesaid. In the event of registration of transfer being effected during the course of a calendar month, the Purchaser shall be refunded occupational interest overpaid. The Purchaser shall also be responsible for all electricity and (where applicable) water consumed in the unit as from the Occupation Dateoccupation date.