Common use of Asset Evaluation Clause in Contracts

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. Purchaser reserves the right to examine each feature film as to quality and duplicity in the Purchaserpurchaser'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.