Common use of Sale Clause in Contracts

Sale. The successful bidder (except where the Assignee is bidding) shall as soon as practicable after the fall of the hammer and in any event before leaving the auction venue, sign a form of contract or Memorandum (“the Memorandum”), and before 4.00 p.m. on the same day deposit with the Auctioneer further sums by way of bank draft, or cashier’s order crossed “A/C PAYEE ONLY” made payable to OCBC BANK (MALAYSIA) BERHAD or remit the same through online banking transfer, one (1) working day before auction date which sums plus the monies deposited pursuant to Condition 5 above shall make up 10% of the successful bid to be retreated as actual deposit PROVIDED that if the Purchaser fails to sign the Memorandum or fails to pay the actual deposit, or if any cheque is dishonoured on presentation then Condition 8 shall take effect. The Auctioneer reserves the right to hold the Memorandum and not deliver the same to the Purchaser until all the cheques for the actual deposit have been cleared.

Sale. The successful bidder (except where the Assignee is bidding) shall as soon as practicable after the fall of the hammer and in any event before leaving the auction venue, sign a form of contract or Memorandum (“the Memorandum”), and before 4.00 p.m. on the same day deposit with the Auctioneer further sums by way of bank draft, or cashier’s order crossed “A/C PAYEE ONLY” made payable to OCBC XX-XXXX BANK (MALAYSIA) BERHAD or remit the same through online banking transfer, one (1) working day before auction date which sums plus the monies deposited pursuant to Condition 5 above shall make up 10% of the successful bid to be retreated as actual deposit PROVIDED that if the Purchaser fails to sign the Memorandum or fails to pay the actual deposit, or if any cheque is dishonoured on presentation then Condition 8 shall take effect. The Auctioneer reserves the right to hold the Memorandum and not deliver the same to the Purchaser until all the cheques for the actual deposit have been cleared.

Sale. The successful bidder (except where the Assignee is bidding) shall as soon as practicable after the fall of the hammer and in any event before leaving the auction venue, sign a form of contract or Memorandum (“the Memorandum”), and before 4.00 p.m. on the same day deposit with the Auctioneer further sums by way of bank draft, or cashier’s order crossed “A/C PAYEE ONLY” made payable to OCBC BANK (MALAYSIA) BERHAD or remit the same through online banking transfer, one (1) working day before auction date which sums plus the monies deposited pursuant to Condition 5 above shall make up 10% of the successful bid to be retreated as actual deposit PROVIDED that if the Purchaser fails to sign the Memorandum or fails to pay the actual depositdepo sit, or if any cheque is dishonoured on presentation then Condition 8 shall take effect. The Auctioneer reserves the right to hold the Memorandum and not deliver the same to the Purchaser until all the cheques for the actual deposit have been cleared.