Common use of DEDUCTION FOR DAMAGE TO NEW VEHICLES Clause in Contracts

DEDUCTION FOR DAMAGE TO NEW VEHICLES. Immediately prior to Closing, Buyer and seller shall jointly inspect Seller's inventory of new vehicles. If any new vehicle purchased by Buyer from Seller is damaged, the price for that vehicle, as determined under subparagraph 3(a), shall be reduced by the actual net cost to Buyer of repairing that damage. If Buyer and Seller are unable to agree upon the actual net cost to Buyer of repairing the damage to a vehicle, then Buyer and seller shall select an independent third party to determine that repair cost, which determination shall be binding upon both Buyer and Seller.

Appears in 2 contracts

Samples: Agreement for Purchase and Sale (Lithia Motors Inc), Agreement for Purchase and Sale (Lithia Motors Inc)

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DEDUCTION FOR DAMAGE TO NEW VEHICLES. Immediately prior to Closing, Buyer and seller Seller shall jointly inspect Seller's Sellers inventory of new vehicles. If any new vehicle purchased by Buyer from Seller is damaged, the price for that vehicle, as determined under subparagraph 3(a), shall be reduced by the actual net cost to Buyer of repairing that damage. If Buyer and Seller are unable to agree upon the actual net cost to Buyer of repairing the damage to a vehicle, then Buyer and seller Seller shall select an independent third party to determine that repair cost, which determination shall be binding upon both Buyer and Seller.

Appears in 1 contract

Samples: Agreement for Purchase and Sale (Lithia Motors Inc)

DEDUCTION FOR DAMAGE TO NEW VEHICLES. Immediately prior to Closing, Buyer and seller Seller shall jointly inspect Seller's inventory of new vehicles. If any new vehicle purchased by Buyer from Seller is damaged, the price for that vehicle, as determined under subparagraph 3(a), shall be reduced by the actual net cost to Buyer of repairing that damage. If Buyer and Seller are unable to agree upon the actual net cost to Buyer of repairing the damage to a vehicle, then Buyer and seller Seller shall select an independent third party to determine that repair cost, which determination determinaton shall be binding upon both Buyer and Seller.

Appears in 1 contract

Samples: Agreement for Purchase and Sale (Lithia Motors Inc)

DEDUCTION FOR DAMAGE TO NEW VEHICLES. Immediately prior to Closing, Buyer and seller Seller shall jointly inspect Seller's inventory of new vehicles. If any new vehicle purchased by Buyer from Seller is damaged, the price for that vehicle, as determined under subparagraph 3(a), shall be reduced by the actual net cost to Buyer of repairing that damage. If Buyer and Seller are unable to agree upon the actual net new cost to Buyer of repairing the damage to a vehicle, then Buyer and seller Seller shall select an independent third party to determine that repair cost, which determination shall be binding upon both Buyer and Seller.

Appears in 1 contract

Samples: Lithia Motors Inc

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DEDUCTION FOR DAMAGE TO NEW VEHICLES. Immediately prior to Closing, Buyer and seller Seller shall jointly inspect Seller's inventory of new vehicles. If any new vehicle purchased by Buyer from Seller is damaged, the price for that vehiclevehicles, as determined under subparagraph 3(a), shall be reduced by the actual net cost to of Buyer of repairing that damage. If Buyer and Seller are unable to agree upon the actual net cost to Buyer of repairing the damage to a vehiclethat damage, then Buyer and seller Seller shall select an independent third party to determine that repair cost, which determination shall be binding upon both Buyer and Seller.

Appears in 1 contract

Samples: Agreement for Purchase and Sale (Lithia Motors Inc)

DEDUCTION FOR DAMAGE TO NEW VEHICLES. Immediately prior to Closing, Buyer and seller Seller shall jointly inspect Seller's inventory of new vehicles. If any vehicle in Seller's inventory of new vehicle purchased by Buyer from Seller vehicles is damaged, and if the cost of repairing that damage is less than $1,000.00, the Buyer shall be obligated to purchase that vehicle as a new vehicle, and the price for that vehicle, as determined under subparagraph subparagraphs 3(a) and 3(b), shall be reduced by the actual net cost to Buyer of repairing that damage. If Buyer and Seller are unable to agree upon the actual net cost to Buyer buyer of repairing the damage to a new vehicle, then Buyer and seller Seller shall select an independent third party to determine that repair cost, which determination shall be binding upon both Buyer and Seller.

Appears in 1 contract

Samples: Agreement for Purchase and Sale (Lithia Motors Inc)

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