Occupational Interest definition

Occupational Interest means an amount equal to the Prime Overdraft Rate, calculated pro rata per month on the Purchase Price;

Occupational Interest means the amount described in clause 4.2;

Occupational Interest means the occupational interest in 20 of the schedule;

Examples of Occupational Interest in a sentence

• Should the purchaser take occupation of the Property prior to registration of transfer of the Property into the purchaser’s name, the purchaser shall pay Occupational Interest for the period that he is in occupation, commencing and becoming payable (in respect of any pro rata portion of a month) on the date of occupation and for every calendar month thereafter, payable monthly in advance on the first (1st) day of each calendar month.

• A pro rata portion of Occupational Interest shall be payable for any portion of any month that the purchaser is in occupation of the Property.

• Occupational Interest shall be one percent per month of the Purchase Price from date of occupation of the Property by or on behalf of the purchaser to date of registration of transfer of the Property into the purchaser’s name without deduction or set-off, or such other amount payable on terms and conditions as may be agreed to between the Parties.

• If transfer is effected other than at the end of a month, the Occupational Interest shall be pro-rated for the portion of the month up to and including the Transfer Date.

• If the date of occupation does not coincide with the Transfer Date, for whatever reason, then the party enjoying occupation of the Property whilst it is registered in the name of the other party shall, in consideration thereof and for the period of such occupation, pay to the other party the Occupational Interest, monthly in advance from the date of occupation.

More Definitions of Occupational Interest

Occupational Interest means the amount payable by the Purchaser to the Seller from Occupation Date to the Transfer Date, see clauses 10. and 11 of the information schedule;

Occupational Interest means the amount described in 4.2 of the IS;

Occupational Interest means 0.75% of the selling price per month;

Occupational Interest means the occupational interest which the PURCHASER will pay to the SELLER as from the occupation date and calculated at 0.75% on the purchase price per month (pro rata);

Occupational Interest means an amount equal to 1% (One) per month, calculated pro rata per month on the Purchase Price;

Occupational Interest means the interest or amount to be paid by the Purchaser to the Seller if and to the extent the Purchaser takes Occupation of the Unit prior to the Transfer Date, which occupational interest will be an amount equal to the Purchase Price multiplied by the Prime Rate for the prorated period the Purchaser has Occupation, being from the Occupation Date until the Transfer Date;

Occupational Interest means the amount stipulated in Clause 6 of the Covering Schedule;