Common use of PERMITTED PURCHASER Clause in Contracts

PERMITTED PURCHASER. 7.1 Notwithstanding whether it is expressly stated in the Proclamation of Sale, in the event that the developer of the property (“The Developer”) and/or the proprietor of the master title on which the property is erected (“The Proprietor/Landowner”) or applicable laws or regulations affecting the property imposes the conditions that the property can only be sold to an individual, or certain category of persons or corporate body, e.g Malay, a Bumiputra or a Malay Company or Bumiputra Company (“The Permitted Purchaser”), than the property shall only be sold to the permitted purchaser. permitted purchase.