Common use of SETTLEMENT PROVISIONS Clause in Contracts

SETTLEMENT PROVISIONS. (1) Following the SPC Date, settlement of the sale of the Water Authority Land by the Water Authority to the Joint Venturers will be effected in accordance with the provisions of this clause. (2) The Water Authority Land will be sold and transferred from the Water Authority to the Joint Venturers free of all encumbrances other than: (a) any reservation or condition contained in the Crown Grant of the Water Authority Land; (b) the easement over the Water Authority Land granted by the Water Authority to the Joint Venturers as the proprietor of land within the Development Area; and (c) any easement reasonably required by the Water Authority, which has been notified by the Water Authority to the Joint Venturers a reasonable time prior to the SPC Date and which easement is required by the Water Authority for the purpose of any Water Authority Facilities which will remain in the Water Authority Land after settlement. The terms of any easement under this subclause will be agreed between the Water Authority and the Joint Venturers not later than 10 Business Days prior to the SDC Date or failing agreement, will be the easement terms reasonably required by the Water Authority. (3) The Water Authority Land will be transferred to the Joint Venturers as tenants in common in the same proportions as the Joint Venturers are then the registered proprietors of the Development Area and if there is only one person who is then the registered proprietor of the Development Area, then to that person only. (4) A reasonable time prior to the Settlement Date, the Joint Venturers will prepare, execute and deliver to the Water Authority, for execution by the Water Authority prior to settlement, a registrable transfer of the Water Authority Land in favour of the Joint Venturers. (5) Settlement of the sale of the Water Authority Land will take place on the Settlement Date at the offices of the Joint Venturers’ Solicitors in Perth or at any other place in Perth nominated by the Joint Venturers by notice in writing to the Water Authority not less than 5 Business Days prior to the Settlement date. At settlement: (a) the Purchase Price will be paid by the Joint Venturers to the Water Authority by bank cheque made payable to the Water Authority or to any other person as the Water Authority nominates in writing to the Joint Venturers not later than 5 Business Days prior to the Settlement Date; (b) the Water Authority will deliver to the Joint Venturers: (1) the duplicate Certificates of Title to the Water Authority Land; and (2) the transfer of the Water Authority Land duly executed by the Water Authority. If for any reason a bank cheque tendered as or towards the Purchase Price is not paid on presentation the Joint Venturers will remain liable to pay the amount payable under that bank cheque. (6) The Water Authority will grant vacant possession of the Water Authority Land to the Joint Venturers on settlement. (7) The Water Authority will pay all Outgoings up to the Settlement Date from which date they shall be payable by the Joint Venturers and will be apportioned if necessary. Any amount owing by one party to the other shall be paid or allowed on settlement. (8) The Joint Venturers will not be entitled to make or give Requisitions on Title to the Water Authority relating to the Water Authority Land. (9) (a) Notwithstanding any rule of law or equity to the contrary, the Water Authority Land shall be at the risk of the Water Authority until the whole of the Purchase Price is paid or the Joint Venturers are entitled to or given possession of the Water Authority Land, whichever is the earliest and thereupon the risk shall pass to the Joint Venturers.

SETTLEMENT PROVISIONS. (1) Following the SPC Date, settlement of the sale of the Water Authority Land by the Water Authority to the Joint Venturers will be effected in accordance with the provisions of this clause. (2) The Water Authority Land will be sold and transferred from the Water Authority to the Joint Venturers free of all encumbrances other than: (a) any reservation or condition contained in the Crown Grant of the Water Authority Land; (b) the easement over the Water Authority Land granted by the Water Authority to the Joint Venturers as the proprietor of land within the Development Area; and (c) any easement reasonably required by the Water Authority, which has been notified by the Water Authority to the Joint Venturers a reasonable time prior to the SPC Date and which easement is required by the Water Authority for the purpose of any Water Authority Facilities which will remain in the Water Authority Land after settlement. The terms of any easement under this subclause will be agreed between the Water Authority and the Joint Venturers not later than 10 Business Days prior to the SDC Date or failing agreement, will be the easement terms reasonably required by the Water Authority. (3) The Water Authority Land will be transferred to the Joint Venturers as tenants in common in the same proportions as the Joint Venturers are then the registered proprietors of the Development Area and if there is only one person who is then the registered proprietor of the Development Area, then to that person only. (4) A reasonable time prior to the Settlement Date, the Joint Venturers will prepare, execute and deliver to the Water Authority, for execution by the Water Authority prior to settlement, a registrable transfer of the Water Authority Land in favour of the Joint Venturers. (5) Settlement of the sale of the Water Authority Land will take place on the Settlement Date at the offices of the Joint Venturers’ Solicitors in Perth or at any other place in Perth nominated by the Joint Venturers by notice in writing to the Water Authority not less than 5 Business Days prior to the Settlement date. At settlement: (a) the Purchase Price will be paid by the Joint Venturers to the Water Authority by bank cheque made payable to the Water Authority or to any other person as the Water Authority nominates in writing to the Joint Venturers not later than 5 Business Days prior to the Settlement Date; (b) the Water Authority will deliver to the Joint Venturers: (1) the duplicate Certificates of Title to the Water Authority Land; and (2) the transfer of the Water Authority Land duly executed by the Water Authority. If for any reason a bank cheque tendered as or towards the Purchase Price is not paid on presentation the Joint Venturers will remain liable to pay the amount payable under that bank cheque. (6) The Water Authority will grant vacant possession of the Water Authority Land to the Joint Venturers on settlement. (7) The Water Authority will pay all Outgoings up to the Settlement Date from which date they shall be payable by the Joint Venturers and will be apportioned if necessary. Any amount owing by one party to the other shall be paid or allowed on settlement. (8) The Joint Venturers will not be entitled to make or give Requisitions on Title to the Water Authority relating to the Water Authority Land. (9) (a) Notwithstanding a)Notwithstanding any rule of law or equity to the contrary, the Water Authority Land shall be at the risk of the Water Authority until the whole of the Purchase Price is paid or the Joint Venturers are entitled to or given possession of the Water Authority Land, whichever is the earliest and thereupon the risk shall pass to the Joint Venturers.

SETTLEMENT PROVISIONS. (1) Following the SPC Date, settlement of the sale of the Water Authority Land by the Water Authority to the Joint Venturers will be effected in accordance with the provisions of this clause. (2) The Water Authority Land will be sold and transferred from the Water Authority to the Joint Venturers free of all encumbrances other than: (a) any reservation or condition contained in the Crown Grant of the Water Authority Land; (b) the easement over the Water Authority Land granted by the Water Authority to the Joint Venturers as the proprietor of land within the Development Area; and (c) any easement reasonably required by the Water Authority, which has been notified by the Water Authority to the Joint Venturers a reasonable time prior to the SPC Date and which easement is required by the Water Authority for the purpose of any Water Authority Facilities which will remain in the Water Authority Land after settlement. The terms of any easement under this subclause will be agreed between the Water Authority and the Joint Venturers not later than 10 Business Days prior to the SDC Date or failing agreement, will be the easement terms reasonably required by the Water Authority. (3) The Water Authority Land will be transferred to the Joint Venturers as tenants in common in the same proportions as the Joint Venturers are then the registered proprietors of the Development Area and if there is only one person who is then the registered proprietor of the Development Area, then to that person only. (4) A reasonable time prior to the Settlement Date, the Joint Venturers will prepare, execute and deliver to the Water Authority, for execution by the Water Authority prior to settlement, a registrable transfer of the Water Authority Land in favour of the Joint Venturers. (5) Settlement of the sale of the Water Authority Land will take place on the Settlement Date at the offices of the Joint Venturers’ Solicitors in Perth or at any other place in Perth nominated by the Joint Venturers by notice in writing to the Water Authority not less than 5 Business Days prior to the Settlement date. At settlement: (a) the Purchase Price will be paid by the Joint Venturers to the Water Authority by bank cheque made payable to the Water Authority or to any other person as the Water Authority nominates in writing to the Joint Venturers not later than 5 Business Days prior to the Settlement Date; (b) the Water Authority will deliver to the Joint Venturers: (1) the duplicate Certificates of Title to the Water Authority Land; and (2) the transfer of the Water Authority Land duly executed by the Water Authority. If for any reason a bank cheque tendered as or towards the Purchase Price is not paid on presentation the Joint Venturers will remain liable to pay the amount payable under that bank cheque. (6) The Water Authority will grant vacant possession of the Water Authority Land to the Joint Venturers on settlement. (7) The Water Authority will pay all Outgoings up to the Settlement Date from which date they shall be payable by the Joint Venturers and will be apportioned if necessary. Any amount owing by one party to the other shall be paid or allowed on settlement. (8) The Joint Venturers will not be entitled to make or give Requisitions on Title to the Water Authority relating to the Water Authority Land. (9) (a) Notwithstanding any rule of law or equity to the contrary, the Water Authority Land shall be at the risk of the Water Authority until the whole of the Purchase Price is paid or the Joint Venturers are entitled to or given possession of the Water Authority Land, whichever is the earliest and thereupon the risk shall pass to the Joint Venturers.

SETTLEMENT PROVISIONS. (1) Following the SPC Date, settlement of the sale of the Water Authority Land by the Water Authority to the Joint Venturers will be effected in accordance with the provisions of this clause. (2) The Water Authority Land will be sold and transferred from the Water Authority to the Joint Venturers free of all encumbrances other than: (a) any reservation or condition contained in the Crown Grant of the Water Authority Land; (b) the easement over the Water Authority Land granted by the Water Authority to the Joint Venturers as the proprietor of land within the Development Area; and (c) any easement reasonably required by the Water Authority, which has been notified by the Water Authority to the Joint Venturers a reasonable time prior to the SPC Date and which easement is required by the Water Authority for the purpose of any Water Authority Facilities which will remain in the Water Authority Land after settlement. The terms of any easement under this subclause will be agreed between the Water Authority and the Joint Venturers not later than 10 Business Days prior to the SDC Date or failing agreement, will be the easement terms reasonably required by the Water Authority. (3) The Water Authority Land will be transferred to the Joint Venturers as tenants in common in the same proportions as the Joint Venturers are then the registered proprietors of the Development Area and if there is only one person who is then the registered proprietor of the Development Area, then to that person only. (4) A reasonable time prior to the Settlement Date, the Joint Venturers will prepare, execute and deliver to the Water Authority, for execution by the Water Authority prior to settlement, a registrable transfer of the Water Authority Land in favour of the Joint Venturers. (5) Settlement of the sale of the Water Authority Land will take place on the Settlement Date at the offices of the Joint Venturers’ Solicitors in Perth or at any other place in Perth nominated by the Joint Venturers by notice in writing to the Water Authority not less than 5 Business Days prior to the Settlement date. At settlement: (a) the Purchase Price will be paid by the Joint Venturers to the Water Authority by bank cheque made payable to the Water Authority or to any other person as the Water Authority nominates in writing to the Joint Venturers not later than 5 Business Days prior to the Settlement Date; (b) the Water Authority will deliver to the Joint Venturers: (1) the duplicate Certificates of Title to the Water Authority Land; and (2) the transfer of the Water Authority Land duly executed by the Water Authority. If for any reason a bank cheque tendered as or towards the Purchase Price is not paid on presentation the Joint Venturers will remain liable to pay the amount payable under that bank cheque. (6) The Water Authority will grant vacant possession of the Water Authority Land to the Joint Venturers on settlement. (7) The Water Authority will pay all Outgoings up to the Settlement Date from which date they shall be payable by the Joint Venturers and will be apportioned if necessary. Any amount owing by one party to the other shall be paid or allowed on settlement. (8) The Joint Venturers will not be entitled to make or give Requisitions on Title to the Water Authority relating to the Water Authority Land. (9) (a) Notwithstanding any rule of law or equity to the contrary, the Water Authority Land shall be at the risk of the Water Authority until the whole of the Purchase Price is paid or the Joint Venturers are entitled to or given possession of the Water Authority Land, whichever is the earliest and thereupon the risk shall pass to the Joint Venturers.than