17. Subject to sale of buyer’s property where there is no existing contract

(a) This Contract is conditional upon the Buyers entering into a Contract for the sale of their existing property situated at [1] by [2].
(b) This Contract is further conditional upon the satisfactory settlement of the sale of the Buyer’s existing property situated at [1] by [3].

If the Buyer is unable to comply with paragraphs (a) or (b) by the due dates then the Buyer may by written notice to the Seller’s solicitors terminate this Contract in which event all monies paid by the Buyer by way of deposit or otherwise shall be refunded in full.

The Seller agrees that, should the date for settlement of the prior sale contract be extended under a contractual right of extension contained in the prior sale contract the Buyer may extend the due date for satisfaction of this condition by an identical period. This right may be used multiple times. Such extension may happen one or more times provided the full length of any extension under this right is not more than 5 business days.

LEGEND:

[1] address of other property
[2] date by which Buyer to enter into contract for sale of property situated at [1]
[3] date for settlement of property situated at [1]