Happy Letter definition

Happy Letter means the written confirmation which a mortgagee requires from the Purchaser that the Section is complete and has been constructed to the Purchaser's satisfaction. "the Mortgage Originator" means WIZARD BELLVILLE;
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Happy Letter means a completion form or letter signed by the Employer certifying his satisfaction that the Works have been satisfactorily and finally completed, and from date of signature of which the Employer shall have no claim against the Contractor and the Contractor shall have no further obligations towards the Employer in terms of this Agreement, save and except for the Contractor’s obligation as contemplated below;
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Happy Letter means a Building Loan Letter of Satisfaction which is required by the financial institution who has granted mortgage bond finance to the PURCHASER and which confirms that the PURCHASER has accepted possession of the unit and thereby authorizes payment of the bond proceeds being the amount set out in paragraph H of the Schedule to these standard conditions to the SELLER's Attorneys; 1.
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Examples of Happy Letter in a sentence

  • With the above commitment in mind, the Happy Letter must be signed and handed over to the developer on the date of original inspection.

  • Notwithstanding the aforesaid, the Seller shall not be obliged to allow the Purchaser occupation of the Unit until the Purchaser has signed the Happy Letter, and before occupational rent has been paid to the trust account of the Conveyancer.

  • Should the purchase price or a portion thereof be financed by way of a mortgage bond, the Purchaser shall be required to sign a Letter of Satisfaction (commonly known as a Happy Letter) prior to registration of transfer as required by the bond lending banks.

  • Notwithstanding the aforesaid, the Seller shall not be obliged to allow the Purchaser occupation of the Unit until the Purchaser has signed the Happy Letter.