Common use of RISK AND CONTROL Clause in Contracts

RISK AND CONTROL. 11.1. The sole risk in and control pertaining to the PROPERTY shall pass to the PURCHASER upon acceptance of this offer by the SELLER, and from date of acceptance the PURCHASER shall be liable for all imposts levied on the PROPERTY, inclusive of and without limiting the generality hereof, all rates and taxes, licenses and other official and/or municipal charges. 11.2. On date of acceptance all other benefits including rental in respect of the PROPERTY, if any, and risks of ownership in respect of the PROPERTY, shall pass to the PURCHASER who shall insure the PROPERTY and improvements thereon for its full replacement value against risk of loss or damage. 11.3. Any rates and taxes or other amounts paid after the date of acceptance by the SELLER shall be refunded proportionately by the PURCHASER on demand.

RISK AND CONTROL. 11.1. The sole risk in and control pertaining to the PROPERTY shall pass to the PURCHASER upon acceptance of this offer by the SELLER, and from date of acceptance the PURCHASER shall be liable for all imposts levied on the PROPERTY, inclusive of and without limiting the generality hereof, all rates and taxes, licenses and other official and/or municipal charges. 11.2. On date of acceptance all other benefits including rental in respect of the PROPERTY, if any, and risks of ownership in respect of the PROPERTY, shall pass to the PURCHASER who shall insure the PROPERTY and improvements thereon for its full replacement value against risk of loss or damage. 11.3. Any rates and taxes or other amounts paid after subsequent to the date of acceptance by the SELLER shall be refunded proportionately by the PURCHASER on demand.