Purchase and Sale of the Electric System Assets Sample Clauses

Purchase and Sale of the Electric System Assets. (a) The City hereby agrees to sell the Electric System Assets to the Authority, and the Authority hereby agrees to purchase the Electric System Assets from the City, at the purchase price of $[ ], payable on the Delivery Date. (b) The Authority hereby agrees simultaneously to sell the Electric System Assets to the City, and the City agrees to purchase the Electric System Assets from the Authority, at the Purchase Price (payable in installments) specified in Section 5.02 hereof and otherwise in the manner and in accordance with the provisions of this Installment Purchase Agreement and the Bond Law. (c) From time to time, at the request of the City, the Authority shall promptly deliver to the City any instruments necessary to confirm the right, title and interest of the City in and to the Electric System Assets.
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