Common use of Transfer To Another Unit Clause in Contracts

Transfer To Another Unit. 28.1 The Operator acknowledges that you may wish to move to another unit within the Village. Where possible, and subject to: (a) the availability of another unit; (b) the Operator being satisfied that the alternate unit will be suitable for you; and (c) the Operator finding a new Resident to enter an Occupation Right Agreement for your Unit on terms satisfactory to the Operator, the Operator will endeavour to accommodate your requirements to allow one transfer to another unit. 28.2 Any transfer will be subject to the following: (a) A new Resident entering an Occupation Right Agreement in respect of the Unit that you are vacating and making full payment to the Operator for that Occupation Right Agreement (this condition will be waived if you pay the Operator the amount referred to in clause (c) below; (b) Receipt by the Operator of an acknowledgement of termination of this Agreement signed by or on behalf of you; (c) You signing an Occupation Right Agreement for the new unit on the Operator’s then standard terms and conditions (including any particular terms and conditions that apply on a transfer) and paying the Operator the current market value for an Occupation Right Agreement for the new unit as at the date of the transfer (the “New Entry Payment”) or such other amount as determined by the Operator at its sole discretion; (d) You paying a transfer fee equal to 2.5% of the New Entry Payment; (e) You meeting your legal costs associated with the transfer; and (f) You arranging for the moving of yourself and your belongings to the new unit at your own cost. 28.3 For your first transfer to another unit within the Village, you will only pay one Deferred Management Fee for this Unit and the new unit. That Deferred Management Fee will be calculated on the higher value of the two units. This clause does not apply to any subsequent transfers. The deductions and fees payable by you when transferring from one unit to another unit in the Village will otherwise be the deductions and fees payable on the termination of this Agreement as set out in clause 38, except in the case of a transfer where a unit is damaged or destroyed and in such circumstances the provisions of clause 29 below will apply. 28.4 Subject to any requirements of the Code of Practice and any relevant requirements elsewhere in this Occupation Right Agreement, the terms and conditions that will apply to your transfer to another unit within the Village will be at the Operator’s sole discretion.

Transfer To Another Unit. 28.1 27.1 The Operator acknowledges that you may wish to move to another unit within the Village. Where possible, and subject to: (a) the availability of another unit; (b) the Operator being satisfied that the alternate unit will be suitable for you; and (c) the Operator finding a new Resident to enter an Occupation Right Agreement for your Unit on terms satisfactory to the Operator, the Operator will endeavour to accommodate your requirements to allow one transfer to another unit. 28.2 27.2 Any transfer will be subject to the following: (a) A new Resident entering an Occupation Right Agreement in respect of the Unit that you are vacating and making full payment to the Operator for that Occupation Right Agreement (this condition will be waived if you pay the Operator the amount referred to in clause (c) below; (b) Receipt by the Operator of an acknowledgement of termination of this Agreement signed by or on behalf of you; (c) You signing an Occupation Right Agreement for the new unit on the Operator’s then standard terms and conditions (including any particular terms and conditions that apply on a transfer) and paying the Operator the current market value for an Occupation Right Agreement for the new unit as at the date of the transfer (the “New Entry Payment”) or such other amount as determined by the Operator at its sole discretion; (d) You paying a transfer fee equal to 2.5% of the New Entry Payment; (e) You meeting your legal costs associated with the transfer; and (f) You arranging for the moving of yourself and your belongings to the new unit at your own cost. 28.3 27.3 For your first transfer to another unit within the Village, you will only pay one Deferred Management Fee for this Unit and the new unit. That Deferred Management Fee will be calculated on the higher value of the two units. This clause does not apply to any subsequent transfers. The deductions and fees payable by you when transferring from one unit to another unit in the Village will otherwise be the deductions and fees payable on the termination of this Agreement as set out in clause 3837, except in the case of a transfer where a unit is damaged or destroyed and in such circumstances the provisions of clause 29 28 below will apply. 28.4 27.4 Subject to any requirements of the Code of Practice and any relevant requirements elsewhere in this Occupation Right Agreement, the terms and conditions that will apply to your transfer to another unit within the Village will be at the Operator’s sole discretion.