Common use of Primary Registration Clause in Contracts

Primary Registration. The Seller shall get the ownership certificate of the building of this House before Oct. 31, 2016. If the ownership certificate hasn’t been got within the time stipulated in this Article due to the Seller, both parties agree to manage it according to the following Method 1: 1. The Buyer has the right to cancel the order. If the Buyer cancels the order, the Seller must return all the effected payment to the Buyer within 60 days after receiving the notification of canceling the order, and pay the interests at the rate of 3% of the total effected payment to the Buyer. If the Buyer doesn’t cancel the order, the contract will continue to be effective; from the second day after the deadline to get the ownership certificate from the actual date of getting the certificate, the Seller shall pay 0.006% of the total effected payment per day to the Buyer as a penalty. 2. ________________________________X__________________________ ..

Primary Registration. The Seller shall get the ownership certificate of the building of this House before Oct. 31, 2016. If the ownership certificate hasn’t been got within the time stipulated in this Article due to the Seller, both parties agree to manage it according to the following Method 1: 1. The Buyer has the right to cancel the order. If the Buyer cancels the order, the Seller must return all the effected payment to the Buyer within 60 days after receiving the notification of canceling the order, and pay the interests at the rate of 3% of the total effected payment to the Buyer. If the Buyer doesn’t cancel the order, the contract will continue to be effective; from the second day after the deadline to get the ownership certificate from the actual date of getting the certificate, the Seller shall pay 0.006% of the total effected payment per day to the Buyer as a penalty. 2. ________________________________X__________________________ ..