Possession and Delivery. Absolute right to possession of the Property shall transfer to Buyer on the Effective Date. If delivery of the Property is to be made at a date after the Effective Date, it is Seller’s duty to ensure the Property is delivered in the same condition as when last inspected by Buyer. Seller shall remain partially entitled to the Property until such time the full Purchase Price is conveyed to Buyer, on a pro rata basis. If after one year after the Effective Date, the entire Purchase Price has not been transferred, the Seller shall be completely divested from the Property and shall receive, instead, Series Interests on a pro rata basis. The Seller may at any time during the term of the Offering, elect to acquire Series Interests by way of cancelation of the equivalent amount owed to it by Buyer under this Agreement. For purposes of this section, the value of the Series Interests acquired by or transferred to Seller from time to time shall be based on the initial value of such Series Interests pursuant to the Offering.
Appears in 10 contracts
Samples: Purchase and Sale Agreement (Mythic Collection, LLC), Purchase and Sale Agreement (Mythic Collection, LLC), Purchase and Sale Agreement (Mythic Collection, LLC)
