Common use of Purchase Price and Payment Clause in Contracts

Purchase Price and Payment. 4.1 The Purchase Price for the Property shall be paid as follows - 4.1.1 the deposit shall be paid into the Trust Account no later than 3 (three) Business Days after the Signature Date; and 4.1.2 the balance of the Purchase Price shall be paid against Transfer, provided that the balance shall be secured by a bank guarantee made payable to the Trust Account on Transfer, which bank guarantee must be provided to the Conveyancer within 10 (ten) Business Days from being called upon to do so by the Conveyancer, provided that the Condition Precedent, if applicable, has been fulfilled or waived, as the case may be. 4.2 The Purchaser shall be released from its obligation to provide the bank guarantee referred to in clause 4.1.2 above by making payment of the balance of the Purchase Price into the Trust Account. 4.3 The Conveyancer is hereby irrevocably authorised and required to invest any cash amount received from the Purchaser in terms of this Agreement in an investment account as contemplated in Section 86(4) of the Legal Practice Act, with the interest accruing for the benefit of the Purchaser until Transfer whereupon the Conveyancer shall pay the balance of the Purchase Price to the Seller. 4.4 In the event that the Purchaser fails to make payment of the deposit in accordance with clause 4.1.1 above within 4 (four) months of the Signature Date, then without prejudice to any other rights that the Seller may have, the Purchase Price shall be increased by 12% (twelve percent) per annum, calculated daily and compounded monthly in arrears, from the expiry of the aforesaid 4 (four) month period until such time as the Purchaser has complied with his aforesaid obligations.

Purchase Price and Payment. 4.1 The Purchase Price for the Property shall be paid as follows - 4.1.1 the deposit shall be paid into the Trust Account no later than 3 (three) Business Days after the Signature Date; and 4.1.2 the balance of the Purchase Price shall be paid against Transfer, provided that the balance shall be secured by a bank guarantee made payable to the Trust Account on Transfer, which bank guarantee must be provided to the Conveyancer within 10 (ten) Business Days from being called upon to do so by the Conveyancer, provided that the Condition PrecedentPrecedent set out in clause 3.1.1, if applicable, has been fulfilled or waived, as the case may be. 4.2 The Purchaser shall be released from its obligation to provide the bank guarantee referred to in clause 4.1.2 above by making payment of the balance of the Purchase Price into the Trust Account. 4.3 The Conveyancer is hereby irrevocably authorised and required to invest any cash amount received from the Purchaser in terms of this Agreement in an investment account as contemplated in Section 86(4) of the Legal Practice Act, with the interest accruing for the benefit of the Purchaser until Transfer whereupon the Conveyancer shall pay the balance of the Purchase Price to the Seller. 4.4 In the event that the Purchaser fails to make payment of the deposit in accordance with clause 4.1.1 above within 4 (four) months of the Signature Date, then without prejudice to any other rights that the Seller may have, the Purchase Price shall be increased by 12% (twelve percent) per annum, calculated daily and compounded monthly in arrears, from the expiry of the aforesaid 4 (four) month period until such time as the Purchaser has complied with his aforesaid obligations.

Purchase Price and Payment. 4.1 The Purchase Price for the Property shall be paid as follows - 4.1.1 the deposit shall be paid into the Trust Account no later than 3 (three) Business Days after the Signature Date; and 4.1.2 the balance of the Purchase Price shall be paid against Transfer, provided that the balance shall be secured by a bank guarantee made payable to the Trust Account on Transfer, which bank guarantee must be provided to the Conveyancer within 10 (ten) Business Days from being called upon to do so by the Conveyancer, provided that the Condition PrecedentPrecedent set out in clause 3.1, if applicable, has been fulfilled or waived, as the case may be. 4.2 The Purchaser shall be released from its obligation to provide the bank guarantee referred to in clause 4.1.2 above by making payment of the balance of the Purchase Price into the Trust Account. 4.3 The Conveyancer is hereby irrevocably authorised and required to invest any cash amount received from the Purchaser in terms of this Agreement in an investment account as contemplated in Section 86(4) of the Legal Practice Act, with the interest accruing for the benefit of the Purchaser until Transfer whereupon the Conveyancer shall pay the balance of the Purchase Price to the SellerVal de Vie. 4.4 In the event that the Purchaser fails to make payment of the deposit in accordance with clause 4.1.1 above within 4 (four) months of the Signature Date, then without prejudice to any other rights that the Seller Val de Vie may have, the Purchase Price shall be increased by 12% (twelve percent) per annum, calculated daily and compounded monthly in arrears, from the expiry of the aforesaid 4 (four) month period until such time as the Purchaser has complied with his aforesaid obligations.

Purchase Price and Payment. 4.1 The Purchase Price for the Property shall be paid as follows - 4.1.1 the deposit shall be paid into the Trust Account no later than 3 (three) Business Days after the Signature Date; and 4.1.2 the balance of the Purchase Price shall be paid against Transfer, provided that the balance shall be secured by a bank guarantee made payable to the Trust Account on Transfer, which bank guarantee must be provided to the Conveyancer within 10 (ten) Business Days from being called upon to do so by the Conveyancer, provided that the Condition PrecedentPrecedent set out in clause 3.1, if applicable, has been fulfilled or waived, as the case may be. 4.2 The Purchaser shall be released from its obligation to provide the bank guarantee referred to in clause 4.1.2 above by making payment of the balance of the Purchase Price into the Trust Account. 4.3 The Conveyancer is hereby irrevocably authorised and required to invest any cash amount received from the Purchaser in terms of this Agreement in an investment account as contemplated in Section 86(4) of the Legal Practice Act, with the interest accruing for the benefit of the Purchaser until Transfer whereupon the Conveyancer shall pay the balance of the Purchase Price to the Seller. 4.4 In the event that the Purchaser fails to make payment of the deposit in accordance with clause 4.1.1 above within 4 (four) months of the Signature Date, then without prejudice to any other rights that the Seller may have, the Purchase Price shall be increased by 12% (twelve percent) per annum, calculated daily and compounded monthly in arrears, from the expiry of the aforesaid 4 (four) month period until such time as the Purchaser has complied with his aforesaid obligations.

Purchase Price and Payment. 4.1 ‌‌ 5.1 The Purchase Price for the Property shall be paid as follows - 4.1.1 5.1.1 the deposit shall be paid into the Trust Account no later than within 3 (three) Business Days after of the Signature Date; andand‌ 4.1.2 5.1.2 the balance of the Purchase Price shall be paid against Transfer, provided that the balance shall be secured by a bank guarantee made payable to the Trust Account on Transfer, which bank guarantee must be provided to the Conveyancer within 10 30 (tenthirty) Business Days days from being called upon to do so by the Conveyancer, provided that the Condition Precedent, if applicable, has been fulfilled or waived, as the case may be.be.‌ 4.2 5.2 The Purchaser shall be released from its obligation to provide the bank guarantee referred to in clause 4.1.2 5.1.2 above by making payment of the balance of the Purchase Price into the Trust Account.Account.‌ 4.3 5.3 The Conveyancer is hereby irrevocably authorised and required to invest any cash amount received from the Purchaser in terms of this Agreement clause 5 in an investment account as contemplated in Section 86(4) of the Legal Practice Act, with the interest accruing for the benefit of the Purchaser until Transfer whereupon the Conveyancer shall pay the balance of the Purchase Price to the Seller.Seller.‌ 4.4 5.4 In the event that the Purchaser fails to make payment of the deposit in accordance with clause 4.1.1 5.1.1 above within 4 (four) months of the Signature Date, then without prejudice to any other rights that the Seller may have, the Purchase Price shall be increased by 12% (twelve percent) per annum, calculated daily and compounded monthly in arrears, from the expiry of the aforesaid 4 (four) month period until such time as the Purchaser has complied with his aforesaid obligations.obligations.‌ INITIAL _ 5.5 In the event that the Purchaser fails to deliver the guarantee referred to in clause

Purchase Price and Payment. 4.1 5.1 The Purchase Price for the Property shall be paid as follows - 4.1.1 5.1.1 the deposit shall be paid into the Trust Account no later than within 3 (three) Business Days after of the Signature Date; and 4.1.2 5.1.2 the balance of the Purchase Price shall be paid against Transfer, provided that the balance shall be secured by a bank guarantee made payable to the Trust Account on Transfer, which bank guarantee must be provided to the Conveyancer within 10 30 (tenthirty) Business Days days from being called upon to do so by the Conveyancer, provided that the Condition Precedent, if applicable, has been fulfilled or waived, as the case may be. 4.2 5.2 The Purchaser shall be released from its obligation to provide the bank guarantee referred to in clause 4.1.2 5.1.2 above by making payment of the balance of the Purchase Price into the Trust Account. 4.3 5.3 The Conveyancer is hereby irrevocably authorised and required to invest any cash amount received from the Purchaser in terms of this Agreement clause 5 in an investment account as contemplated in Section 86(4) of the Legal Practice Act, with the interest accruing for the benefit of the Purchaser until Transfer whereupon the Conveyancer shall pay the balance of the Purchase Price to the Seller. 4.4 5.4 In the event that the Purchaser fails to make payment of the deposit in accordance with clause 4.1.1 5.1.1 above within 4 (four) months of the Signature Date, then without prejudice to any other rights that the Seller may have, the Purchase Price shall be increased by 12% (twelve percent) per annum, calculated daily and compounded monthly in arrears, from the expiry of the aforesaid 4 (four) month period until such time as the Purchaser has complied with his aforesaid obligations.

Purchase Price and Payment. 4.1 5.1 The Purchase Price for the Property shall be paid by the Purchaser to the Seller as follows -follows: 4.1.1 5.1.1 The Purchaser shall pay a deposit in an amount equal to 15% (fifteen) per cent of the deposit shall be paid into Purchase Price to the Trust Account no later than 3 Conveyancers within 7 (threeseven) Business Days after days from the Signature Date; and. 4.1.2 5.1.2 The Purchaser shall pay the balance of the Purchase Price by way of the guarantee envisaged in 5.2 on Transfer. 5.2 The Purchaser shall be paid against Transferwithin 14 (fourteen) days from being called up by the Conveyancers to do so, provided that deliver to the balance shall be secured Seller and/or the Conveyancers an irrevocable guarantee issued by a bank guarantee made or other financial institution, payable to ABSA Bank Limited for the Trust Account on Transfercredit of the Seller, which bank guarantee must be provided reasonably acceptable to the Conveyancer within 10 (ten) Business Days from being called upon to do so by the Conveyancer, provided that the Condition Precedent, if applicable, has been fulfilled or waived, as the case may be. 4.2 The Purchaser shall be released from its obligation to provide the bank guarantee referred to in clause 4.1.2 above by making Seller for payment of the balance of the Purchase Price into in accordance with the Trust Accountprovisions of this Agreement. 4.3 5.3 The Conveyancer is hereby deposit referred to in 5.1.1 above shall be held in trust by the Conveyancers and shall be paid to the Seller on the Transfer date. The Conveyancers are irrevocably authorised and required to invest any cash amount received from the Purchaser such deposit in an interest bearing account with a bank or other financial institution of their choice in terms of this Agreement in an investment account as contemplated in Section 86(4section 78(2A) of the Legal Practice Attorneys Act 53 of 1997. All interest earned shall accrue to the Purchaser. 5.4 The Purchaser will be required to comply with the Financial Intelligence Centre Act, with No 38 of 2001 and consequently – 5.4.1 acknowledges that the interest accruing for the benefit of deposit payable by the Purchaser until Transfer whereupon the Conveyancer shall pay the balance of the Purchase Price as referred to the Seller. 4.4 In the event that the Purchaser fails to make payment of the deposit in accordance with clause 4.1.1 5.1.1 above within 4 (four) months of the Signature Datecannot be invested and accordingly, then without prejudice to any other rights that the Seller may haveinterest cannot accrue thereon, the Purchase Price shall be increased by 12% (twelve percent) per annum, calculated daily and compounded monthly in arrears, from the expiry of the aforesaid 4 (four) month period until such time as the said requirements have been met; and 5.4.2 hereby renounces any claim for interest, where the claim arises from the Conveyancers being unable to invest the deposit as a result of the Purchaser has not having properly complied with his aforesaid obligationsthat act.

Purchase Price and Payment. 4.1 The Purchase Price for the Property shall be paid as follows - 4.1.1 the deposit shall be paid into the Trust Account no later than 3 (three) Business Days after the Signature Date; and 4.1.2 the balance of the Purchase Price shall be paid against Transfer, provided that the balance shall be secured by a bank guarantee made payable to the Trust Account on Transfer, which bank guarantee must be provided to the Conveyancer within 10 (ten) Business Days from being called upon to do so by the Conveyancer, provided that the Condition PrecedentPrecedent set out in clause 3.1.1, if applicable, has been fulfilled or waived, as the case may be. 4.2 The Purchaser shall be released from its obligation to provide the bank guarantee referred to in clause 4.1.2 above by making payment of the balance of the Purchase Price into the Trust Account. 4.3 The Conveyancer is hereby irrevocably authorised and required to invest any cash amount received from the Purchaser in terms of this Agreement in an investment account as contemplated in Section 86(4) of the Legal Practice Act, with the interest accruing for the benefit of the Purchaser until Transfer whereupon the Conveyancer shall pay the balance of the Purchase Price to the SellerLevendal. 4.4 In the event that the Purchaser fails to make payment of the deposit in accordance with clause 4.1.1 above within 4 (four) months of the Signature Date, then without prejudice to any other rights that the Seller Levendal may have, the Purchase Price shall be increased by 12% (twelve percent) per annum, calculated daily and compounded monthly in arrears, from the expiry of the aforesaid 4 (four) month period until such time as the Purchaser has complied with his aforesaid obligations.

Purchase Price and Payment. 4.1 The Purchase Price for the Property shall be paid as follows - 4.1.1 the deposit shall be paid into the Trust Account no later than 3 (three) Business Days after the Signature Date; and 4.1.2 the balance of the Purchase Price shall be paid against Transfer, provided that the balance shall be secured by a bank guarantee made payable to the Trust Account on Transfer, which bank guarantee must be provided to the Conveyancer within 10 (ten) Business Days from being called upon to do so by the Conveyancer, provided that the Condition Precedent, if applicable, has been fulfilled or waived, as the case may be. 4.2 The Purchaser shall be released from its obligation to provide the bank guarantee referred to in clause 4.1.2 above by making payment of the balance of the Purchase Price into the Trust Account. 4.3 The Conveyancer is hereby irrevocably authorised and required to invest any cash amount received from the Purchaser in terms of this Agreement in an investment account as contemplated in Section 86(4) of the Legal Practice Act, with the interest accruing for the benefit of the Purchaser until Transfer whereupon the Conveyancer shall pay the balance of the Purchase Price to the Seller. 4.4 In the event that the Purchaser fails to make payment of the deposit in accordance with clause 4.1.1 above within 4 (four) months of the Signature Date, then without prejudice to any other rights that the Seller may have, the Purchase Price shall be increased by 12% (twelve percent) per annum, calculated daily and compounded monthly in arrears, from the expiry of the aforesaid 4 (four) month period until such time as the Purchaser has complied with his aforesaid obligations.,