Common use of unless and until Clause in Contracts

unless and until. (a) separate assessments of rates and taxes are issued in respect of the property by the relevant authorities, all necessary adjustments between the parties shall be made on the basis that the property shall be liable to that proportion of any such rates, taxes and outgoings levied or assessed against the parcel or building lot (as defined by the Unit Titles Act) as a whole, which the unit entitlement of the property bears to the total entitlement of all lots comprised in the units plan; and‌ (b) contributions under Section 36 of the Unit Titles Act are fixed, outgoings paid by the Seller which would properly be the subject of such contribution when fixed, shall be adjusted between the parties on the same basis as provided in paragraph (a) of this clause, and where the property forms part of a building lot or a lot within an estate development and no contributions have been fixed under section 36 of the Unit Titles Act by the building lot or estate management corporation and outgoings are paid by the Seller that would properly be the subject of levy paid by the Body Corporate, those outgoings shall be adjusted between the parties on the same basis as provided in paragraph (a) of this clause, both in the calculation of the Body Corporate’s contribution to the estate management or building lot corporation, and the property owner’s contribution to the Body Corporate, and for the purpose of this clause, “outgoings” includes periodic contributions to the Body Corporate pursuant to Section 36 of the Unit Titles Act and fixed at the Body Corporate’s annual general meeting, but does not include any special levy raised by the Body Corporate for a specific liability and which is not related to anticipated expenditure over a specified period;

Appears in 1 contract

Sources: Contract of Sale

unless and until. (a) separate assessments of rates and taxes are issued in respect of the property by the relevant authorities, all necessary adjustments between the parties shall be made on the basis that the property shall be liable to that proportion of any such rates, taxes and outgoings levied or assessed against the parcel or building lot (as defined by the Unit Titles Act) as a whole, which the unit entitlement of the property bears to the total entitlement of all lots comprised in the units plan; and‌and (b) contributions under Section 36 of the Unit Titles Act are fixed, outgoings paid by the Seller which would properly be the subject of such contribution when fixed, shall be adjusted between the parties on the same basis as provided in paragraph (a) of this clause, and where the property forms part of a building lot or a lot within an estate development and no contributions have been fixed under section 36 of the Unit Titles Act by the building lot or estate management corporation and outgoings are paid by the Seller that would properly be the subject of levy paid by the Body Corporate, those outgoings shall be adjusted between the parties on the same basis as provided in paragraph (a) of this clause, both in the calculation of the Body Corporate’s contribution to the estate management or building lot corporation, and the property owner’s contribution to the Body Corporate, and for the purpose of this clause, “outgoings” includes periodic contributions to the Body Corporate pursuant to Section 36 of the Unit Titles Act and fixed at the Body Corporate’s annual general meeting, but does not include any special levy raised by the Body Corporate for a specific liability and which is not related to anticipated expenditure over a specified period;

Appears in 1 contract

Sources: Contract of Sale