Execution/Delivery of Documents Clause Samples

Execution/Delivery of Documents. (a) Upon payment of the Deposit and the Balance Sum and all monies mentioned and/or specified in Clauses 7.2 (b), 7.3 (a), (b), (c), (d), and (e) above and subject to the fulfilment of Clause 8 below by the Purchaser, the Assignee/Bank shall:- (i) execute or cause to be executed as soon as possible at the Purchaser's own costs and expenses (including, without limitation, legal fees, stamp duty and registration fees) an Assignment (in the form and substance acceptable to and upon the terms and conditions stipulated by the Assignee/Bank at its absolute discretion) in favour of the Purchaser of all the rights, title interests and benefits under the principal Sale and Purchase Agreement entered into between the Developer and/or Proprietor of the Property and the Assignor or the original purchaser(s) when the Assignor is not the original purchaser of the Property. Where applicable, the Assignee/Bank shall be entitled to have a sufficient covenant of indemnity inserted in the Assignment in order for the Purchaser to assume all liabilities and obligations pertaining to the Property. The Assignee/Bank shall not be required to assign the Property to any person other than the Purchaser; and (ii) deliver to the Purchaser or the Purchaser's Solicitors the duly executed Assignment, the original of the principal Sale and Purchase Agreement or duplicate copy or certified true copy and the original(s) of the previous Assignment(s) or duplicate copy(ies) or certified true copy(ies) in the Assignee/Bank's custody. If any of the aforesaid documents is not available, the Assignee/Bank shall use its best endeavors to provide certified true copy(ies) or such other acceptable documentary evidence of previous transactions thereof. (b) Where applicable, the Purchaser undertakes to forward to the Developer the duly stamped Assignment, the duly stamped Proclamation of Sale and the Memorandum together with the full payment of all sums and outgoings due to the Developer under the Sale and Purchase Agreement as required by Section 22D(2) of the Housing Development (Control and Licensing) Act 1966 within fourteen (14) days from the date of stamping of the Assignment and to forward a copy of the cover letter or acknowledgment of receipt by the Developer to the Assignee/Bank or the Assignee/Bank's Solicitors within seven (7) days after the issuance of the cover letter or acknowledgment of receipt.