Common use of SUSPENSIVE CONDITION Clause in Contracts

SUSPENSIVE CONDITION. 6.1 This offer is subject to the suspensive condition that the Purchaser or the agent on behalf of the Purchaser obtains loan finance in the amount of: The quotation and pre-agreement statement (loan finance) is to be issued in principle within 14 (fourteen) days of date of acceptance hereof or such later date as the Seller may agree to in writing which period will not exceed 30 (thirty) days. 6.1.1 The Purchaser hereby warrants in favour of the Seller that it is able to afford and obtain finance from a recognised, registered financial institution so as to comply with its financial requirements in terms hereof. 6.2 The Purchaser hereby irrevocably – 6.2.1 undertakes and agrees to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or 6.2.2 Authorises and instructs the Seller and/or the Seller's representative in rem suam to apply to a registered financial institution and to sign all such document(s), for the finance contemplated herein, for and on behalf of the Purchaser. In this regard, the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require. 6.3 Should the Suspensive Condition referred to in clause 6.1 above not be fulfilled or waived then this Agreement shall lapse and be of no further force or effect and the provisions of clause 6.5 below shall apply. 6.4 If the suspensive condition is not fulfilled for any reason whatever and is not waived by the Seller, then – 6.4.1 this whole Agreement (other than the provisions hereof by which the parties shall be bound) shall be of no force or effect; 6.4.2 the parties shall be entitled to be restored as near as possible to the positions in which they would have been, had this Agreement not been entered into; and 6.5 No party shall have any claim against any other in terms of this Agreement except for such claims (if any) as may arise from a breach of this clause or from any other provision of this Agreement by which the parties remain bound.

SUSPENSIVE CONDITION. 6.1 MORTGAGE BOND 4.1 This offer sale is subject to the suspensive condition that the Purchaser purchaser, or the agent developer on behalf of the Purchaser his behalf, obtains a loan finance from a registered bank in the amount of: The quotation and pre-agreement statement (loan finance) is to be issued in principle within 14 (fourteen) days of date of acceptance hereof or such later date as the Seller may agree referred to in writing which period will not exceed clause C(b) of the main agreement against the security of the registration of a first mortgage bond over the unit. The said loan shall be obtained within 30 (thirty) daysdays of signature of this agreement by the purchaser notwithstanding that the developer may not yet have signed this agreement. The said period of 30 (thirty) days may be extended by the developer in writing at its sole discretion. 6.1.1 4.2 The Purchaser hereby warrants condition contained in favour clause 4.1 is for the benefit of the Seller purchaser only who shall at any time prior to the due date for fulfilment thereof be entitled to waive such condition by written notice to the developer, the estate agent, or the developer's attorneys and in that it is able event the sale will become unconditional, and the purchaser will be obliged to afford and obtain finance from a recognised, registered financial institution so furnish guarantees as to comply with its financial requirements provided for in terms hereofclause 2.2. 6.2 4.3 The Purchaser hereby irrevocably – 6.2.1 undertakes and agrees condition set out in 4.1 above will be deemed to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or 6.2.2 Authorises and instructs the Seller and/or the Seller's representative in rem suam to apply to have been fulfilled if a registered financial institution bank issues a quotation and pre agreement statement subject to sign all such document(s)the usual conditions associated with residential loans including but not restricted to the provision of collateral security by way of suretyship/s and the payment of an initiation fee to the bank even if more than one offer is made and the purchaser fails to approve or accept same. 4.4 If the loan is granted subject to: 4.4.1 the cancellation of an existing mortgage bond over another property registered in the name of the purchaser; or 4.4.2 the sale of that property; or 4.4.3 any other condition, compliance with which by the purchaser will, in the sole opinion of the developer, delay classifying this sale as a presale for the finance contemplated herein, for and on behalf purpose of the Purchaser. In this regarddeveloper's financing requirements, then the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require. 6.3 Should the Suspensive Condition referred to developer will in clause 6.1 above not be fulfilled or waived then this Agreement shall lapse his sole discretion, and be of no further force or effect and notwithstanding the provisions of clause 6.5 below shall apply4.2, be entitled to treat the suspensive condition as unfulfilled. 6.4 4.5 If the suspensive condition contained in clause 4.1 is not fulfilled for any reason whatever this sale shall lapse and is not waived become null and void. In that event the deposit paid by the Sellerpurchaser together with any interest earned thereon shall be refunded to him. 4.6 The purchaser undertakes to take all necessary steps to:- 4.6.1 procure the granting of the loan and to provide all such documentation and information as may be required for this purpose by the purchaser's bankers or his agent for this purpose within 7 (seven) days of request therefore; 4.6.2 comply with any conditions that may be imposed by his financiers in the granting of the loan, then – 6.4.1 this whole Agreement (other than subject to the provisions hereof by which of clause 4.4 above. 4.6.3 The purchaser acknowledges that should he fail to comply with the parties shall be bound) shall be provisions of no force or effect; 6.4.2 the parties shall be entitled to be restored as near as possible to the positions in which they would have been, had this Agreement not been entered into; and 6.5 No party shall have any claim against any other in terms of this Agreement except for such claims (if any) as may arise from a breach of this clause or from any other provision of this Agreement by which the parties remain bound.clause

SUSPENSIVE CONDITION. 6.1 2.1.1 This offer is sale shall be subject to the suspensive condition that and conditional upon the Purchaser or being granted a mortgage secured loan by a financial institution approved by the agent on behalf Seller for an amount not less than that specified in clause 3.3.1 of the Purchaser obtains IS from a financial institution. Such loan finance in the amount of: The quotation and pre-agreement statement (loan finance) is to must be issued in principle granted within 14 (fourteen) days of from the signature date on terms and conditions normally applicable to such loans granted by financial institutions. It is recorded that the Seller shall not approve SA Home Loans as a financial institution from which the Purchaser may acquire loan approval. 2.1.2 If this suspensive condition is not fulfilled or waived within the period mentioned in clause 2.1.1 above, the period shall be deemed to be automatically extended until the Seller gives 7(seven) days written notice to the Purchaser requiring that the condition be fulfilled within such 7 (seven) days failing which the Seller shall have the right to cancel the sale forthwith in which event the Deposit together with interest shall be refunded to the Purchaser. 2.1.3 If the Seller does not cancel the sale as contemplated in clause 2.1.2 above within 30(thirty) days after the date of acceptance hereof or such later date as the Seller may agree to in writing which period will not exceed 30 (thirty) days. 6.1.1 The Purchaser hereby warrants in favour of the Seller that it is able to afford and obtain finance from a recognised, registered financial institution so as to comply with its financial requirements in terms hereof. 6.2 The Purchaser hereby irrevocably – 6.2.1 undertakes and agrees to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or 6.2.2 Authorises and instructs the Seller and/or the Seller's representative in rem suam to apply to a registered financial institution and to sign all such document(s), for the finance contemplated herein, for and on behalf of the Purchaser. In this regard, the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require. 6.3 Should the Suspensive Condition notice referred to in clause 6.1 2.1.2 above or if the suspensive condition is not be fulfilled or waived then within the period described in clause 2.1.2 above, this Agreement shall lapse and be of no further force or effect and the provisions of clause 6.5 below deposit together with interest shall applybe refunded to the Purchaser. 6.4 2.1.4 The mortgage secured loan may be obtained on behalf of the Purchaser by a bond broker appointed by the Seller. 2.1.5 The Purchaser undertakes to provide the bond broker (if appointed by the Seller) on request with all the information/documentation required to enable the bond broker to apply for the loan. The Seller shall however not be obliged to appoint a bond broker or to facilitate a loan to the Purchaser. 2.1.6 The suspensive condition shall be deemed to have been fulfilled: 2.1.6.1 upon the issue to the Purchaser of a written quotation and pre-agreement statement as contemplated in Section 92 of the National Credit Act, No. 35 of 2005 by a financial institution in respect of the loan in the said amount within the period referred to above, OR 2.1.6.2 upon the issue to the Purchaser of a written quotation and pre-agreement statement as described in clause 2.1.6.1 above in respect of a loan for an amount less than the said amount and such quotation for the lesser amount is accepted by the Purchaser within the period referred to above . 2.1.7 The Purchaser shall use his best endeavours to procure fulfillment of the suspensive condition and the Purchaser futhermore undertakes to fulfill all of the requirements laid down by the financial institution in question in connection with the grant of such loan. If the Purchaser is unable to demonstrate to the Seller that the Purchaser actively or forcefully made all reasonable efforts in order procure fulfillment of the suspensive condition or fails to comply with or accept any condition reasonably imposed by the financial institution, the Seller may regard the suspensive 2.1.8 In the event that the suspensive condition is not fulfilled for any reason whatever fulfilled, the Agreement shall terminate, expire and is not waived by become unenforceable. In such event, the Seller, then – 6.4.1 this whole Agreement (other than the provisions hereof by which the parties shall be bound) shall be of no force or effect; 6.4.2 the parties Purchaser shall be entitled to a refund of the Deposit together with interest earned thereon. 2.1.9 Should the suspensive condition be restored fulfilled or waived as near as possible to contemplated herein, and the positions in which they would have beengrant of the loan is subsequently retained or withdrawn by the financial institution at the instance of the Purchaser, had this Agreement shall not been entered into; and 6.5 No party lapse or be rendered null and void or unenforceable as a result of such retention, cancellation or withdrawal by the financial institution, and the Purchaser shall have any claim against any other nevertheless be bound to fulfill his obligations in terms of this entire Agreement except for such claims (as if any) as may arise from a breach of this clause or from any other provision of this Agreement the condition was waived by which the parties remain boundPurchaser.

SUSPENSIVE CONDITION. 6.1 MORTGAGE LOAN 2.1 This offer is sale shall be subject to the suspensive condition that and conditional upon the Purchaser or being granted a mortgage secured loan by a financial institution approved by the agent on behalf Seller for an amount not less than that specified in clause 3.2.3 of the Purchaser obtains IS from a financial institution. Such loan finance in the amount of: The quotation and pre-agreement statement (loan finance) is to must be issued in principle granted within 14 (fourteen) calendar days of from the signature date on terms and conditions normally applicable to such loans granted by financial institutions. It is recorded that the Seller shall not approve SA Home Loans as a financial institution from which the Purchaser may acquire loan approval. 2.2 If this suspensive condition is not fulfilled or waived within the period mentioned in clause 2.1.1 above, the period shall be deemed to be automatically extended until the Seller gives 7(seven) days written notice to the Purchaser requiring that the condition be fulfilled within such 7 (seven) days failing which the Seller shall have the right to cancel the sale forthwith. 2.3 If the Seller does not cancel the sale as contemplated in clause 2.2 above within 30(thirty) days after the date of acceptance hereof or such later date as the Seller may agree to in writing which period will not exceed 30 (thirty) days. 6.1.1 The Purchaser hereby warrants in favour of the Seller that it is able to afford and obtain finance from a recognised, registered financial institution so as to comply with its financial requirements in terms hereof. 6.2 The Purchaser hereby irrevocably – 6.2.1 undertakes and agrees to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or 6.2.2 Authorises and instructs the Seller and/or the Seller's representative in rem suam to apply to a registered financial institution and to sign all such document(s), for the finance contemplated herein, for and on behalf of the Purchaser. In this regard, the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require. 6.3 Should the Suspensive Condition notice referred to in clause 6.1 2.2 above or if the suspensive condition is not be fulfilled or waived then within the period described in clause 2.2 above, this Agreement shall lapse and be of no further force or effect and the provisions of clause 6.5 below shall applyeffect. 6.4 If 2.4 The mortgage secured loan may be obtained on behalf of the Purchaser by a bond broker appointed by the Seller. 2.5 The Purchaser undertakes to provide the bond broker (if appointed by the Seller) on request with all the information/documentation required to enable the bond broker to apply for the loan. The Seller shall however not be obliged to appoint a bond broker or to facilitate a loan to the Purchaser. 2.6 The suspensive condition shall be deemed to have been fulfilled: 2.6.1 upon the issue to the Purchaser of a written quotation and pre-agreement statement as contemplated in Section 92 of the National Credit Act, No. 35 of 2005 by a financial institution in respect of the loan in the said amount within the period referred to above, OR 2.6.2 upon the issue to the Purchaser of a written quotation and pre-agreement statement as described in clause 2.6.1 above in respect of a loan for an amount less than the said amount and such quotation for the lesser amount is accepted by the Purchaser within the period referred to above . 2.7 A loan granted on the condition that a loan against security of a bond over another property be cancelled or settled in full first shall NOT constitute fulfilment of the suspensive condition is not fulfilled for any reason whatever contained in clause 2.1 above. 2.8 The Purchaser shall use his best endeavours to procure fulfillment of the suspensive condition and is not waived the Purchaser futhermore undertakes to fulfill all of the requirements laid down by the Seller, then – 6.4.1 this whole Agreement (other than financial institution in question in connection with the provisions hereof by which grant of such loan. If the parties shall be bound) shall be of no force or effect; 6.4.2 the parties shall be entitled Purchaser is unable to be restored as near as possible demonstrate to the positions Seller that the Purchaser actively or forcefully made all reasonable efforts in which they would have beenorder procure fulfillment of the suspensive condition or fails to comply with or accept any condition reasonably imposed by the financial institution, had this Agreement not the Seller may regard the suspensive condition as having been entered into; and 6.5 No party shall have any claim against any other waived and demand performance by the Purchaser of his obligations in terms of this Agreement except for such claims (if any) Agreement. 2.9 Should the suspensive condition be fulfilled or waived as may arise from a breach contemplated herein, and the grant of this clause the loan is subsequently retained or from any other provision withdrawn by the financial institution at the instance of the Purchaser, this Agreement shall not lapse or be rendered null and void or unenforceable as a result of such retention, cancellation or withdrawal by which the parties remain bound.financial institution, and the Purchaser

SUSPENSIVE CONDITION. 6.1 MORTGAGE BOND 4.1 This offer sale is subject to the suspensive condition that the Purchaser purchaser, or the agent developer on behalf of the Purchaser his behalf, obtains a loan finance from a registered bank in the amount of: The quotation and pre-agreement statement (loan finance) is to be issued in principle within 14 (fourteen) days of date of acceptance hereof or such later date as the Seller may agree referred to in writing which period will not exceed clause C(b) of the main agreement against the security of the registration of a first mortgage bond over the unit. The said loan shall be obtained within 30 (thirty) daysdays of signature of this agreement by the purchaser notwithstanding that the developer may not yet have signed this agreement. The said period of 30 (thirty) days may be extended by the developer in writing at its sole discretion. 6.1.1 4.2 The Purchaser hereby warrants condition contained in favour clause 4.1 is for the benefit of the Seller purchaser only who shall at any time prior to the due date for fulfilment thereof be entitled to waive such condition by written notice to the developer, the estate agent or the developer's attorneys and in that it is able event the sale will become unconditional, and the purchaser will be obliged to afford and obtain finance from a recognised, registered financial institution so furnish guarantees as to comply with its financial requirements provided for in terms hereofclause 2.2. 6.2 4.3 The Purchaser hereby irrevocably – 6.2.1 undertakes and agrees condition set out in 4.1 above will be deemed to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or 6.2.2 Authorises and instructs the Seller and/or the Seller's representative in rem suam to apply to have been fulfilled if a registered financial institution bank issues a quotation and pre agreement statement subject to sign all such document(s)the usual conditions associated with residential loans including but not restricted to the provision of collateral security by way of suretyship/s and the payment of an initiation fee to the bank even if more than one offer is made and the purchaser fails to approve or accept same. 4.4 If the loan is granted subject to: 4.4.1 the cancellation of an existing mortgage bond over another property registered in the name of the purchaser; or 4.4.2 the sale of that property; or 4.4.3 any other condition, compliance with which by the purchaser will, in the sole opinion of the developer, delay classifying this sale as a presale for the finance contemplated herein, for and on behalf purpose of the Purchaser. In this regarddeveloper's financing requirements, then the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require. 6.3 Should the Suspensive Condition referred to developer will in clause 6.1 above not be fulfilled or waived then this Agreement shall lapse his sole discretion, and be of no further force or effect and notwithstanding the provisions of clause 6.5 below shall apply4.2, be entitled to treat the suspensive condition as unfulfilled. 6.4 4.5 If the suspensive condition contained in clause 4.1 is not fulfilled for any reason whatever this sale shall lapse and is not waived become null and void. In that event the deposit paid by the Sellerpurchaser together with any interest earned thereon shall be refunded to him. 4.6 The purchaser undertakes to take all necessary steps to:- 4.6.1 procure the granting of the loan and to provide all such documentation and information as may be required for this purpose by the purchaser's bankers or his agent for this purpose within 7 (seven) days of request therefore; 4.6.2 comply with any conditions that may be imposed by his financiers in the granting of the loan, then – 6.4.1 this whole Agreement (other than subject to the provisions hereof by which of clause 4.4 above. 4.6.3 The purchaser acknowledges that should he fail to comply with the parties shall be bound) shall be provisions of no force or effect;clause 6.4.2 4.6 above the parties developer shall be entitled to treat the suspensive condition as having been fulfilled. This agreement shall then become unconditional. 4.7 If this agreement lapses due to non-fulfilment of this condition, the purchaser, if he is already in occupation of the unit, shall – 4.7.1 vacate the unit at the end of the calendar month following the month during which failure to fulfil the condition becomes known (and restore the unit to its previous condition); 4.7.2 continue to pay occupational rental as provided for in clause 8.10 below until the date on which he vacates the unit; INITIAL 4.7.3 be restored as near as possible entitled within 30 (thirty) days of vacating the unit to a refund of all monies paid on account of the purchase price less any amounts due to the positions developer in which they would have beenrespect of damage caused to the unit, had any outstanding occupational rent and, if necessary, any legal costs incurred in ejecting the purchaser from the unit should this Agreement not been entered into; and 6.5 No party become necessary. The purchaser irrevocably consents that the developer’s attorneys may deduct such amounts mentioned above from any monies paid in respect of the purchase price, before the purchaser is refunded. If there is a shortfall due to the developer, the developer shall have a claim in respect of same against the purchaser. 4.8 If after having granted the loan the purchaser's financiers withdraw the loan for any claim against any other in reason whatsoever, the purchaser shall continue to be bound by the terms and conditions of this Agreement except agreement and shall within 30 (thirty) days of such withdrawal provide acceptable alternative security for such claims (if any) as may arise from payment of the amount represented by the loan. It is a breach material term of this agreement that should the purchaser’s financier withdraw the loan due to any act or omission on the part of the purchaser, and the purchaser is unable to provide acceptable security within 30 (thirty) days of such withdrawal for the payment of the amount represented by the loan, the developer will be entitled exercise his rights contained in clause or from 25 below, and at its election cancel this agreement and retain any other provision deposits as ‘rouwkoop”, 4.9 The purchaser acknowledges that his financiers who granted the loan will be entitled to re-asses the loan for any reason whatsoever. Should the purchaser’s financiers, after the granting of the loan, but before registration of the bond elect to re-assess the loan application for any reason whatsoever, the purchaser shall ensure that his affordability is at the same level as when the loan was granted. Should the loan be declined after re-assessment for whatever reason including but not limited to affordability the purchaser shall provide acceptable alternative security for payment of the amount represented by the loan within 30 (thirty) days of such withdrawal. It is a material term of this Agreement agreement that should the purchaser’s financier withdraw the loan due to any act or omission on the part of the purchaser that negatively affected his/her/its affordability, and the purchaser is unable to provide acceptable security within 30 (thirty) days of such withdrawal for the payment of the amount represented by which the parties remain bound.loan, the developer will be entitled exercise his rights contained in clause 28 below, and at its election cancel this agreement and retain any deposits as ‘rouwkoop” , INITIAL

SUSPENSIVE CONDITION. 6.1 This offer ‌ 4.1 The whole of this Agreement (save for the provisions of 2, this 4, 12, 13, 15, 17 and 20 to 24 inclusive, which shall be of immediate force and effect) is subject to the fulfilment of the following suspensive condition that condition, namely that: 4.1.1 the Purchaser or the agent on behalf of the Purchaser obtains loan finance in the amount of: The quotation and pre-agreement statement (loan finance) is to be issued in principle within 14 (fourteen) days of date of acceptance hereof or such later date as the Seller may agree to in writing which period will not exceed 30 (thirty) days. 6.1.1 The Purchaser hereby warrants in favour of the Seller that it is able to afford and obtain finance from arrange a recognised, registered financial institution so as loan upon the security of a first mortgage bond to comply with its financial requirements in terms hereof. 6.2 The Purchaser hereby irrevocably – 6.2.1 undertakes and agrees to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or 6.2.2 Authorises and instructs be passed over the Seller and/or Unit for a sum of not less than the Seller's representative in rem suam to apply to a registered financial institution and to sign all such document(s), for the finance contemplated herein, for and on behalf of the Purchaser. In this regard, the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require. 6.3 Should the Suspensive Condition amount referred to in clause 6.1 the Schedule at prevailing bank rates and on conditions for similar properties for and Purchaser of a similar financial standing, on or before the date specified in the Transaction Schedule;‌ 4.2 In the event of the suspensive condition in 4.1.1 above not be fulfilled or waived then being timeously fulfilled, this Agreement sale shall automatically lapse and be of no further force or effect effect. The Seller shall then refund the deposit, together with interest, as contemplated in 6.1.1 below, if applicable. 4.3 The Purchaser shall properly and expeditiously do all things necessary and sign all documents as may be required for the purpose procuring the fulfilment of the condition in 4. 4.4 The condition contained in 4.1.1 shall be fulfilled if timeous written advice is given by the Purchaser or the Purchaser’s financial institution to the Seller or to the Conveyancers that the application was successful and that the loan within the meaning of the clause has been approved in principle by the proposed mortgagee. 4.5 The Purchaser hereby acknowledges that it is obliged to actively pursue the fulfilment of the condition in 4.1.1 and to make application for a loan in an amount not greater than the amount stated in clause 4.1.1 and that should it fail to do so, the Seller will be entitled to deem the Purchaser to have waived the benefit of the aforesaid suspensive conditions, it being recorded that the suspensive condition contained in 4. 1.1 is a condition in favour of the Purchaser which may be waived, at any time prior to the fulfilment thereof, on notice to the Seller. 4.6 In the event of the Purchaser making application for a loan in an amount less than the sum in 4.1.1 and the said loan being approved in principle by the proposed mortgagee, clause 4.1.1 shall be deemed to have been fulfilled. Should the Purchaser make application for a loan in an amount greater than the amount in 4.1.1, or failed to take sufficient steps to fulfil the provisions of clause 6.5 below shall apply4.1.1, the Purchaser will be deemed to have waived the benefit of the said suspensive condition. 6.4 If the suspensive condition is not fulfilled for any reason whatever and is not waived by the Seller, then – 6.4.1 this whole Agreement (other than the provisions hereof by which the parties shall be bound) shall be of no force or effect; 6.4.2 the parties shall be entitled to be restored as near as possible to the positions in which they would have been, had this Agreement not been entered into; and 6.5 No party shall have any claim against any other in terms of this Agreement except for such claims (if any) as may arise from a breach of this clause or from any other provision of this Agreement by which the parties remain bound.

SUSPENSIVE CONDITION. 6.1 MORTGAGE BOND 4.1 This offer sale is subject to the suspensive condition that the Purchaser purchaser, or the agent developer on behalf of the Purchaser his behalf, obtains a loan finance from a registered bank in the amount of: The quotation and pre-agreement statement (loan finance) is to be issued in principle within 14 (fourteen) days of date of acceptance hereof or such later date as the Seller may agree referred to in writing which period will not exceed clause C(b) of the main agreement against the security of the registration of a first mortgage bond over the unit. The said loan shall be obtained within 30 (thirty) daysdays of signature of this agreement by the purchaser notwithstanding that the developer may not yet have signed this agreement. The said period of 30 (thirty) days may be extended by the developer in writing at its sole discretion. 6.1.1 4.2 The Purchaser hereby warrants condition contained in favour clause 4.1 is for the benefit of the Seller purchaser only who shall at any time prior to the due date for fulfilment thereof be entitled to waive such condition by written notice to the developer, the estate agent or the developer's attorneys and in that it is able event the sale will become unconditional, and the purchaser will be obliged to afford and obtain finance from a recognised, registered financial institution so furnish guarantees as to comply with its financial requirements provided for in terms hereofclause 2.2. 6.2 4.3 The Purchaser hereby irrevocably – 6.2.1 undertakes and agrees condition set out in 4.1 above will be deemed to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or 6.2.2 Authorises and instructs the Seller and/or the Seller's representative in rem suam to apply to have been fulfilled if a registered financial institution bank issues a quotation and pre agreement statement subject to sign all such document(s)the usual conditions associated with residential loans including but not restricted to the provision of collateral security by way of suretyship/s and the payment of an initiation fee to the bank even if more than one offer is made and the purchaser fails to approve or accept same. 4.4 If the loan is granted subject to: 4.4.1 the cancellation of an existing mortgage bond over another property registered in the name of the purchaser; or 4.4.2 the sale of that property; or 4.4.3 any other condition, compliance with which by the purchaser will, in the sole opinion of the developer, delay classifying this sale as a presale for the finance contemplated herein, for and on behalf purpose of the Purchaser. In this regarddeveloper's financing requirements, then the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require. 6.3 Should the Suspensive Condition referred to developer will in clause 6.1 above not be fulfilled or waived then this Agreement shall lapse his sole discretion, and be of no further force or effect and notwithstanding the provisions of clause 6.5 below shall apply4.2, be entitled to treat the suspensive condition as unfulfilled. 6.4 4.5 If the suspensive condition contained in clause 4.1 is not fulfilled for any reason whatever this sale shall lapse and is not waived become null and void. In that event the deposit paid by the Sellerpurchaser together with any interest earned thereon shall be refunded to him. 4.6 The purchaser undertakes to take all necessary steps to:- 4.6.1 procure the granting of the loan and to provide all such documentation and information as may be required for this purpose by the purchaser's bankers or his agent for this purpose within 7 (seven) days of request therefore; 4.6.2 comply with any conditions that may be imposed by his financiers in the granting of the loan, then – 6.4.1 this whole Agreement (other than subject to the provisions hereof by which of clause 4.4 above. 4.6.3 The purchaser acknowledges that should he fail to comply with the parties shall be bound) shall be provisions of no force or effect;clause 6.4.2 4.6 above the parties developer shall be entitled to treat the suspensive condition as having been fulfilled. This agreement shall then become unconditional. 4.7 If this agreement lapses due to non-fulfilment of this condition, the purchaser, if he is already in occupation of the unit, shall – 4.7.1 vacate the unit at the end of the calendar month following the month during which failure to fulfil the condition becomes known (and restore the unit to its previous condition); 4.7.2 continue to pay occupational rental as provided for in clause 8.10 below until the date on which he vacates the unit; 4.7.3 be restored as near as possible entitled within 30 (thirty) days of vacating the unit to a refund of all monies paid on account of the purchase price less any amounts due to the positions developer in which they would have beenrespect of damage caused to the unit, had any outstanding occupational rent and, if necessary, any legal costs incurred in ejecting the purchaser from the unit should this Agreement not been entered into; and 6.5 No party become necessary. The purchaser irrevocably consents that the developer’s attorneys may deduct such amounts mentioned above from any monies paid in respect of the purchase price, before the INITIAL purchaser is refunded. If there is a shortfall due to the developer, the developer shall have a claim in respect of same against the purchaser. 4.8 If after having granted the loan the purchaser's financiers withdraw the loan for any claim against any other in reason whatsoever, the purchaser shall continue to be bound by the terms and conditions of this Agreement except agreement and shall within 30 (thirty) days of such withdrawal provide acceptable alternative security for such claims (if any) as may arise from payment of the amount represented by the loan. It is a breach material term of this agreement that should the purchaser’s financier withdraw the loan due to any act or omission on the part of the purchaser, and the purchaser is unable to provide acceptable security within 30 (thirty) days of such withdrawal for the payment of the amount represented by the loan, the developer will be entitled exercise his rights contained in clause or from 25 below, and at its election cancel this agreement and retain any other provision of this Agreement by which the parties remain bound.deposits as ‘rouwkoop”,

SUSPENSIVE CONDITION. 6.1 This offer The sale of the Shares and Shareholders' Claims is subject to the suspensive condition that the Purchaser or the agent on behalf Competition Commission established in accordance with provisions of the Purchaser obtains loan finance in the amount of: Competition Act No. 89 of 1998 approves this transaction insofar as is required by law. The quotation and pre-agreement statement (loan finance) is to be issued in principle within 14 (fourteen) days of date of acceptance hereof or such later date as the Seller may agree to in writing which period will not exceed 30 (thirty) days. 6.1.1 The Purchaser hereby warrants parties reciprocally warrant in favour of each other that they will in good faith use their best endeavours to fulfil the Seller that it is able to afford condition as soon as reasonably possible, and obtain finance from a recognised, registered financial institution so as to comply with its financial requirements in terms hereof. 6.2 The Purchaser hereby irrevocably – 6.2.1 undertakes and agrees to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or 6.2.2 Authorises end they shall do all things, including to supply such information and instructs execute such documentation as may be reasonably required in order to bring about the Seller and/or the Seller's representative in rem suam to apply to a registered financial institution and to sign all such document(s), for the finance contemplated herein, for and on behalf fulfilment of the Purchasercondition. In Those aspects of this regardagreement whose operation is expressly or by necessary implication not suspended pending fulfilment of the condition, shall be carried out by the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require. 6.3 parties timeously and expeditiously. Should the Suspensive Condition referred to in clause 6.1 above condition not be fulfilled or waived then this Agreement shall lapse and be of no further force or effect and the provisions of clause 6.5 below shall apply. 6.4 If the suspensive condition is not fulfilled for any reason whatever and is not waived by the Sellerfulfilled, then – 6.4.1 this whole Agreement (other than and in such event the provisions hereof by which sale of the Shares and Shareholders' claims shall ipso facto be and become null and void AB INITIO and the parties shall be bound) shall be of no force or effect; 6.4.2 the parties shall be entitled obliged to be restored restore each other, as reciprocal obligations, as near as possible to the positions status quo ante as at the date of signature of this agreement, subject to the pledge of the Shares and cessions of the Shareholders' claims in which SECURITAM DEBITI and other surviving provisions of this agreement. All costs of and in connection with the application to the Competition Commission for approval of this transaction, shall be borne and paid by the Sellers and the Purchaser in equal shares. DELIVERY OF DOCUMENTS OF TITLE As soon after date of signature as is practical and against payment of the sum referred to in 5.1, the Sellers shall deliver - to the Purchaser, a resolution passed by the Company acknowledging and agreeing to the cessions referred to in 5.3 above; to the Purchaser's auditors, ________who shall retain same in trust as the Purchaser's agent in perfection of the pledge and pending the closing date (whereupon they would have beenshall hand same to the Purchaser) - the original share certificates in respect of all of the Shares; appropriate share transfer forms in respect of each of the said certificates, had this Agreement not been entered intosigned by the registered owners thereof, in negotiable form and undated, with appropriate authority to insert the appropriate date therein; and 6.5 No party shall have any claim against any other written and signed resignations of each of the present directors of the Company, with appropriate authority to date same on the closing date; a resolution duly passed by the Company - approving the sale and transfer of the Shares in terms of this Agreement except for such claims (if any) agreement; accepting the resignations of the existing directors and the appointment of the Purchaser's nominees as may arise directors; and acknowledging and agreeing to the outright cession and assignment of the Shareholders' Claims to the Purchaser as contemplated by this agreement, all with effect from a breach of this clause or from any other provision of this Agreement by which the parties remain boundclosing date.

SUSPENSIVE CONDITION. 6.1 This offer 2.1 The whole of this Agreement, other than the provisions of clause 1, this clause 2, and clauses 5 to 15 (both inclusive), which shall be of immediate force and effect on the Signature Date, is subject to the fulfilment of the suspensive condition, that by not later than 15 December 2013 the suspensive condition that to the Purchaser or Relationship Agreement has been fulfilled. 2.2 Forthwith after the agent on behalf Signature Date, the Parties shall use their respective reasonable endeavours and co-operate in good faith to procure the fulfilment of the Purchaser obtains loan finance Suspensive Condition, to the extent that it is within their power to do so, as expeditiously as reasonably possible. 2.3 The Suspensive Condition has been Inserted for the benefit of all Parties who will be entitled to waive fulfilment of same by written agreement prior to the expiry of the relevant time period set out in clause 2.1 (or extended in accordance with clause 2.4). 2.4 Unless the amount of: The quotation and pre-agreement statement Suspensive Condition has been fulfilled or waived by not later than the date contemplated in clause 2.1 (loan finance) is to be issued in principle within 14 (fourteen) days of date of acceptance hereof or such later date or dates as the Seller may agree to be agreed in writing which period will not exceed 30 (thirty) days. 6.1.1 The Purchaser hereby warrants in favour of between the Seller that it is able to afford and obtain finance from a recognised, registered financial institution so as to comply with its financial requirements in terms hereof. 6.2 The Purchaser hereby irrevocably – 6.2.1 undertakes and agrees to take all steps and sign all documents reasonably necessary to give effect to this clause; and/or 6.2.2 Authorises and instructs Parties before the Seller and/or the Seller's representative in rem suam to apply to a registered financial institution and to sign all such document(saforesaid date or dales), for the finance contemplated herein, for and on behalf provisions of the Purchaser. In this regard, the Purchaser hereby undertakes on demand to furnish the Seller with all such documents and/or information as the Seller may reasonably require. 6.3 Should the Suspensive Condition referred to in clause 6.1 above not be fulfilled or waived then this Agreement shall lapse save for clause 1, this clause 2 and be clauses 5 to 15 (both inclusive) which will remain of no further full force and effect, will never become of any force or effect and the provisions of clause 6.5 below shall apply. 6.4 If the suspensive condition is not fulfilled for any reason whatever and is not waived by the Seller, then – 6.4.1 this whole Agreement (other than the provisions hereof by which the parties shall be bound) shall be of no force or effect; 6.4.2 the parties shall be entitled to status quo ante will be restored as near as may be possible to and none of the positions in which they would have been, had this Agreement not been entered into; and 6.5 No party shall Parties will have any claim against any other in terms hereof or arising from the failure of this Agreement except the Suspensive Condition, save for such any claims (if any) as may arise arising from a breach of this clause or from 2.2 and/or any other provision prior breach of any of the provisions of this Agreement by which became effective prior to the parties remain boundEffective Date.