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In the event that any of the Conditions Precedent are not obtained within the time stipulated respectively, for any reasons whatsoever, the Purchaser(s) shall be entitled to terminate this Agreement whereupon the Vendor(s) shall within seven (7) days from the date of termination refund the Deposit to the Purchaser(s) failing which the Vendor(s) shall pay interest on all such monies outstanding at the rate of eight per centum (8%) per annum on a daily basis from the due date until the date the full refund is received by the Purchaser(s) and the Stakeholders to release the Title Documents to the Vendor(s). |