Onder 2.2.4 Gemeenschappelijk Hof van Justitie van Aruba, Curaçao, Sint Maarten en van Bonaire, Sint Eustatius en Saba 18 oktober 2022

If Seller fails to complete the Unit within the period mentioned in Article 12 of this Agreement or if Seller is unable to transfer the Unit within 60 working days as of the end of such period, the Buyer may declare the Seller in default by a written notice of default. If Seller fails to cure the default within 30 working days as of the date the notice of default has been received by Seller the Buyer is from that moment on entitled to a penalty of one (1) per mille of the Purchase Price for every working day until the transfer of the Unit. This penalty shall not exceed an amount equal to 5% of the Purchase Price. Article 14 of this Agreement (Force Majeure) applies equally to the working days mentioned herein. Payment by Seller of the penalty is the sole remedy of Buyer. Buyer is not entitled to any (additional) compensation for damages or loss of profit for the late completion, late transfer of the Unit or any other default of Seller. However, Buyer will remain entitled to specific performance by Seller of its obligations in accordance with the terms of this Agreement, provided however that such performance may not be enforced or sanctioned by a monetary claim, penal sum or penalty.

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