Asset Evaluation Clause Samples
Asset Evaluation. Purchaser reserves the right to examine each feature film as to quality and duplicity in the Purchaser's present film library. If, in Purchaser's sole discretion, he finds that any of the feature films are unsuitable for broadcasting or are duplicative, he may return the film to Seller who will replace said film with a film of acceptable quality. In the event a film of acceptable quality is not available, Purchaser may deduct the per film purchase price of Two Thousand Dollars ($2,000) for copyrighted films and One Thousand Dollars ($1,000) for films within the public domain from the balance outstanding under the Promissory Note.
Asset Evaluation. Not less than fifteen (15) days nor more than thirty (30) days from Closing (the "Evaluation Period"), Purchaser shall evaluate the Assets for the following criteria:
(a) suitability for broadcasting;
(b) good title;
(c) duplication in Purchaser's film library. If, in Purchaser's sole discretion, he finds that any of the Assets are unsuitable for broadcasting, lack good title or are duplicative, he may return the film to Seller and deduct the per film purchase price of Two Hundred Fifty Dollars cash ($250) from the Retained Funds, and forty (40) shares of Company common stock. Any remaining funds and shares shall be immediately released to Seller following the Evaluation Period, or replace with another western film or equate type picture, or replace with another western film of equal type picture,
Asset Evaluation. Purchaser reserves the right to examine each feature film as to quality. If, in Purchaser's sole discretion, he finds that any of the feature films are unsuitable for broadcasting he may return the film to Seller who will replace said film with a film of acceptable quality. In the event a film of acceptable quality is not available, Purchaser may deduct the per film purchase price of Three Hundred Dollars ($300) from the balance outstanding under the Promissory Note.
Asset Evaluation. Both parties agree to fix the date of asset evaluation on June 30, 1999.