Purchase in Full Clause Samples
The 'Purchase in Full' clause establishes that the buyer is obligated to acquire the entire quantity or interest specified in the agreement, rather than a partial amount. In practice, this means the buyer cannot opt to purchase only a portion of the goods or services and must complete the transaction for the full scope outlined. This clause ensures that the seller receives the full benefit of the contract and prevents the buyer from reducing their commitment, thereby providing certainty and protecting the seller from partial performance or lost sales.
Purchase in Full. The County is hereby granted the option to terminate this Facilities Agreement and to purchase the Corporation’s interest in the Project Facilities not theretofore acquired by the County at any time upon payment by the County of the then applicable Purchase Option Price; provided, however, that no such termination shall relieve the County from its obligation to pay Administrative Expenses as provided in Section 4.4 hereof until the Obligations have been fully discharged and the Trust Agreement terminated. The County shall notify the Corporation and the Trustee of its intention to exercise this option, on or before the 45th day preceding the date of such purchase or such later date as may be acceptable to the Trustee, but in no event later than the 30th day preceding the date of such purchase, and the County shall provide funds for such prepayment. Upon the payment of the Purchase Option Price, the Corporation shall transfer and convey all its remaining interest in the Project Facilities to the County in the manner provided in Section 9.2 hereof.
Purchase in Full. The Town is hereby granted the option to terminate this Facilities Agreement and to purchase the Corporation’s interest in the Project Facilities not theretofore acquired by the Town at any time upon payment by the Town of the then applicable Purchase Option Price; provided, however, that no such termination shall relieve the Town from its obligation to pay Administrative Expenses as provided in Section 4.4 hereof until the Bonds have been fully discharged and the Trust Agreement terminated. The Town shall notify the Corporation and the Trustee of its intention to exercise this option, on or before the 45th day preceding the date of such purchase or such later date as may be acceptable to the Trustee, but in no event later than the 30th day preceding the date of such purchase, and the Town shall provide funds for such prepayment. Upon the payment of the Purchase Option Price, the Corporation shall transfer and convey all its remaining interest in the Project Facilities to the Town in the manner provided in Section 9.2 hereof.
Purchase in Full. The School District is hereby granted the option to terminate this Purchase and Use Agreement and to purchase the Corporation’s interest in the 2013 Facilities not theretofore acquired by the School District at any time upon payment by the School District of the then applicable Purchase Option Price; provided, however, that no such termination shall relieve the School District from its obligation to pay Administrative Expenses as provided in Section 4.4 hereof until the Series 2013 Bonds have been fully discharged and the 2013 Trust Agreement terminated. The School District shall notify the Corporation and the Trustee of its intention to exercise this option, on or before the 45th day preceding the date of such purchase or such later date as may be acceptable to the Trustee, but in no event later than the 30th day preceding the date of such purchase, and shall provide funds for such prepayment or such other assurance thereof as may be acceptable to the Trustee. Upon the payment of the Purchase Option Price, the Corporation shall transfer and convey all its remaining interest in the 2013 Facilities to the School District in the manner provided in Section 9.2 hereof.