Payment of Purchase Price to Estate of Deceased Shareholder Sample Clauses

Payment of Purchase Price to Estate of Deceased Shareholder. The purchase price payable to the estate of a Deceased Shareholder for the shares of stock owned by the Shareholder shall be paid to the estate of the Deceased Shareholder upon: The estate of the Deceased Shareholder becoming capable in the opinion of legal counsel for the Corporation of transferring to the Corporation full legal and equitable tax-free title to the shares of the Deceased Shareholder; and Delivery to the Secretary of the Corporation of the certificate representing the shares of the Deceased Shareholder properly endorsed in the manner required to transfer full legal and equitable tax-free title to those shares to the Purchasers. In order to assure that all or a substantial part of the purchase price for the shares of a Deceased Shareholder will be available immediately in cash upon his death, the Corporation or any Shareholder may procure and purchase insurance upon the life of any Shareholder. Any insurance policies procured or purchased under the terms of this Agreement shall be recorded on the attached Exhibit B. The Corporation or Shareholder purchasing the insurance shall be the sole owner of all policies issued to it which are subject to this Agreement. Upon the death of a Shareholder, the owner of any insurance policy insuring the life of the Deceased Shareholder agrees to collect the proceeds of the policy or policies payable to it by reason of the Shareholder's death and to pay as much of the proceeds as are necessary to purchase any shares of stock it has elected to purchase to the estate of the Deceased Shareholder at the purchase price determined under section 2.4 of this Agreement. Any excess proceeds shall be retained by the owner of the insurance policy. In the event the purchase of the Deceased Shareholder's shares of stock is not funded by insurance or in the event the insurance proceeds do not equal or exceed twenty-five percent (25%) of the purchase price, Purchasers shall pay to the estate of the Deceased Shareholder an amount equal to the difference between the insurance proceeds received and twenty-five percent (25%) of the purchase price, in cash, as a down payment, within ninety (90) days from the date of death. The balance of the purchase price shall be paid in sixty (60) equal monthly installments of principal and interest beginning on the first day of the month immediately following the disbursement of the down payment. Said payments shall be evidenced by a promissory note on the terms specified in Section 2.8 here...
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Payment of Purchase Price to Estate of Deceased Shareholder. A. The purchase price payable to the estate of a Deceased Shareholder for the shares of stock owned by the Shareholder shall be paid to the estate of the Deceased Shareholder upon:
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Related to Payment of Purchase Price to Estate of Deceased Shareholder

  • Payment of Purchase Price The Purchase Price shall be paid as follows:

  • THE PURCHASER AND PAYMENT OF PURCHASE PRICE 8.1 Immediately after the fall of the hammer and upon being declared the successful purchaser of the Property, the Purchaser shall execute the memorandum attached hereto (`the Memorandum’).

  • The Purchase Price If the sale of the Property is not subject to HST, Seller agrees to certify on or before (included in/in addition to) closing, that the sale of the Property is not subject to HST. Any HST on chattels, if applicable, is not included in the Purchase Price.

  • Allocation of Purchase Price (a) No later than sixty (60) days after Closing or within a reasonable time thereafter as agreed by Sellers and Purchaser, Purchaser shall prepare and deliver to Sellers a proposed allocation of the Purchase Price (plus the Assumed Liabilities and any other Liabilities deemed assumed by the Purchaser for U.S. federal income Tax purposes) among the Transferred Assets which shall be prepared in a manner consistent with Section 1060 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”) (the “Proposed Allocation Schedule”). After receipt of the Proposed Allocation Schedule from Purchaser, the Sellers shall have fifteen (15) days to review the Proposed Allocation Schedule. The Proposed Allocation Schedule will be considered final and binding on the Parties unless Sellers communicate to Purchaser objections to the Proposed Allocation Schedule (an “Allocation Dispute Notice”). Sellers and Purchaser shall, within ten (10) days (or such longer period as Sellers and Purchaser may agree in writing) following delivery of an Allocation Dispute Notice (the “Allocation Resolution Period”), attempt in good faith to resolve their differences and prepare a final allocation schedule that is acceptable to both Sellers and Purchaser. If Sellers and Purchaser are unable to completely resolve any such differences within such ten (10) day period, the unresolved issues (the “Allocation Dispute”) shall be resolved by the Accounting Firm in accordance with Section 1.5(b) (once so resolved, the “Final Allocation Schedule”), subject to approval by the Bankruptcy Court. Purchaser and Sellers shall file all Tax Returns (including amended returns and claims for refund) and information reports in a manner consistent with the Final Allocation Schedule and shall not take any position for Tax purposes (including on IRS Form 8594 or in any audit or other examination or proceeding relating to Taxes) inconsistent with this Section 1.5 unless required to do so by applicable Law.

  • PURCHASE PRICE & TERMS The Buyer agrees to purchase the Property by payment of US Dollars ($ ) as follows: (check one) ☐ - All Cash Offer. No loan or financing of any kind is required in order to purchase the Property. Buyer shall provide Seller written third (3rd) party documentation verifying sufficient funds to close no later than , 20 , at : ☐ AM ☐ PM. Seller shall have three (3) business days after the receipt of such documentation to notify Buyer, in writing, if the verification of funds is not acceptable. If Buyer fails to provide such documentation, or if Seller finds such verification of funds is not acceptable, Seller may terminate this Agreement. Failure of Seller to provide Buyer written notice of objection to such verification shall be considered acceptance of verification of funds.

  • PURCHASE PRICE & PAYMENT The total Purchase Price for the Property is the amount of the successful bid for the parcel at public auction.

  • Term of Purchased Subscriptions The term of each subscription shall be as specified in the applicable Order Form. Except as otherwise specified in an Order Form, subscriptions will automatically renew for additional periods equal to the expiring subscription term or one year (whichever is shorter), unless either party gives the other notice of non-renewal at least 30 days before the end of the relevant subscription term. The per-unit pricing during any renewal term will increase by up to 7% above the applicable pricing in the prior term, unless Xxxxxx provides Customer notice of different pricing at least 60 days prior to the applicable renewal term. Except as expressly provided in the applicable Order Form, renewal of promotional or one-time priced subscriptions will be at Xxxxxx’x applicable list price in effect at the time of the applicable renewal. Notwithstanding anything to the contrary, any renewal in which subscription volume for any Services has decreased from the prior term will result in repricing at renewal without regard to the prior term’s per-unit pricing.

  • Balance of Purchase Price The balance of the Purchase Price shall be paid in cash or by certified funds at the Closing (as defined below).

  • Payment of the Purchase Price The Purchase Price shall be paid as follows:

  • Total Purchase Price (High Bid + Buyer’s Premium) $

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