Common use of OCCUPATIONAL INTEREST Clause in Contracts

OCCUPATIONAL INTEREST. Should the PURCHASER not take possession and occupation of the PROPERTY on date of Registration of Transfer as per clause 9.1 below and take earlier possession of the PROPERTY as per pre-agreed written agreement with the SELLER, the PURCHASER shall pay occupational interest to the SELLER, calculated at 12% (Twelve Percent) per annum on the balance of the purchase price payable in advance on the first day of every month, from date of possession until date of transfer, both days inclusive, payable directly to the SELLER’s Attorney (reduced pro rata for any period less than a month).

OCCUPATIONAL INTEREST. Should the PURCHASER not take possession and occupation of the PROPERTY on date of Registration of Transfer as per clause 9.1 below and take earlier possession of the PROPERTY as per pre-agreed written agreement with the SELLER, the PURCHASER shall pay occupational interest to the SELLER, calculated at 12% (Twelve Percent) per annum in advance on the balance of the purchase price payable in advance on the first day of every month, from date of possession until date of transfer, both days inclusive, payable directly to the SELLER’s Attorney (reduced pro rata for any period less than a month).

OCCUPATIONAL INTEREST. Should the PURCHASER not take possession and occupation of the PROPERTY on date of Registration of Transfer as per clause 9.1 11.1 below and take earlier possession of the PROPERTY as per pre-agreed written agreement with the SELLER, the PURCHASER shall pay occupational interest to the SELLER, calculated at 12% (Twelve Percent) per annum on the balance of the purchase price price, payable in advance on the first day of every month, from date of possession until date of transfer, both days inclusive, payable directly to the SELLER’s Attorney (reduced pro rata for any period less than a month).