Common use of Consideration for Purchased Assets Clause in Contracts

Consideration for Purchased Assets. In consideration for the Purchased Assets, Buyer will assume the Assumed Liabilities and will pay an amount (the "Purchase Price") equal to the Estimated Purchase Price as subsequently adjusted by the Interim Settlement Amount and the Purchase Price Adjustment. The Final Purchase Price will be paid as follows: (1) at the Closing, Buyer will pay to Sellers the Estimated Purchase Price, and (2) on each of the Interim Settlement Date and the Settlement Date, Buyer or Sellers, as the case may be, will be entitled to the Interim Settlement Amount and the Purchase Price Adjustment, respectively. All payments under this Section 2.02 will be paid by Sellers or Buyer, as the case may be, in immediately available federal funds to an account designated by the applicable recipient of such funds. As used herein: