Common use of Financing of the Purchase Price Clause in Contracts

Financing of the Purchase Price. 14.1 The Purchase Price shall be financed according to the specifications of the Buyer. The Seller agrees that, even before transfer of ownership, the Object of Purchase may be encumbered with enforceable (Sec. 800 ZPO (German Code of Civil Procedure)) real property liens (if necessary aggregate liens (Gesamtgrundpfandrechte)) up to the amount of the total purchase price—as the case may be taking into account the requirements of the competent redevelopment authority—for lien holders plus interest and ancillary charges up to any amount, and agrees to cooperate in their creation. The Seller shall cooperate in the creation of such real property liens, however, without assuming any personal liability. The respective applications for registration shall be filed promptly by the notary public. In this context, the Seller issues an irrevocable payment order to the real property lien creditor(s) to pay out the loan funds up to the amount of the purchase price according to the provisions of Sec. 3. With respect to such real property liens, the Parties make the following arrangements, which must be reflected in the deed on the creation of the real property lien:

Financing of the Purchase Price. 14.1 13.1 The Purchase Price shall be financed according to the specifications of the Buyer. The Seller agrees that, even before transfer of ownership, the Object of Purchase may be encumbered with enforceable (Sec. 800 ZPO (German Code of Civil Procedure)) real property liens (if necessary aggregate liens (Gesamtgrundpfandrechte)) up to the amount of the total purchase price—as the case may be taking into account the requirements of the competent redevelopment authority—for lien holders plus interest and ancillary charges up to any amount, and agrees to cooperate in their creation. The Seller shall cooperate in the creation of such real property liens, however, without assuming any personal liability. The respective applications for registration shall be filed promptly by the notary public. In this context, the Seller issues an irrevocable payment order to the real property lien creditor(s) to pay out the loan funds up to the amount of the purchase price according to the provisions of Sec. 3. With respect to such real property liens, the Parties make the following arrangements, which must be reflected in the deed on the creation of the real property lien:

Financing of the Purchase Price. 14.1 13.1 The Purchase Price shall be financed according to the specifications of the Buyer. The Seller agrees that, even before transfer of ownership, the Object of Purchase may be encumbered with enforceable (Sec. 800 ZPO (German Code of Civil Procedure)) real property liens (if necessary aggregate liens (Gesamtgrundpfandrechte)) up to the amount of the total purchase price—as the case may be taking into account the requirements of the competent redevelopment authority—for lien holders plus interest and ancillary charges up to any amount, and agrees to cooperate in their creation. The Seller shall cooperate in the creation of such real property liens, however, without assuming any personal liability. The respective applications for registration shall be filed promptly by the notary public. In this context, the Seller issues an irrevocable payment order to the real property lien creditor(s) to pay out the loan funds up to the amount of the purchase price according to the provisions of Sec. 3. With respect to such real property liens, the Parties make the following arrangements, which must be reflected in the deed on the creation of the real property lien: