Purchase of House Sample Clauses

Purchase of House. From and after the date of this AGREEMENT, the EMPLOYEE shall attempt in good faith to sell the RESIDENCE, including listing the RESIDENCE for sale with a real estate broker selected by the EMPLOYEE (but any such listing agreement shall exclude any sale of the RESIDENCE by the EMPLOYEE to HOLDING COMPANY as provided below). If (a) by August 1, 2009, the EMPLOYEE has not entered into a contract for the sale of the RESIDENCE, or (b) the EMPLOYEE enters into a contract for the sale of the RESIDENCE by August 1, 2009, but such contract is thereafter terminated for reasons other than a default by the EMPLOYEE thereunder, then, at the option of the EMPLOYEE exercisable by written notice to HOLDING COMPANY, HOLDING COMPANY shall purchase the RESIDENCE from the EMPLOYEE for a purchase price equal to the then fair market value of the RESIDENCE. If the EMPLOYEE has the right to and does exercise the EMPLOYEE’s option to require the HOLDING COMPANY to purchase the RESIDENCE from the EMPLOYEE, each of the EMPLOYEE and HOLDING COMPANY shall select a qualified real estate appraiser to determine the fair market value of the RESIDENCE. Each such appraiser shall appraise the RESIDENCE promptly after selection and shall give written notice of that appraiser’s determination of the fair market value of the RESIDENCE to the EMPLOYEE and HOLDING COMPANY. The fair market value for purposes of the price to be paid by HOLDING COMPANY shall be the average of the fair market values determined by the two appraisers. Within 30 days after both appraisers have provided written notice of their determinations, the EMPLOYEE shall convey to HOLDING COMPANY or HOLDING COMPANY’s nominee, by limited warranty deed in the statutory form, marketable title to the fee simple interest in the RESIDENCE, with release of dower if applicable, free and clear of all liens and encumbrances other than real estate taxes and assessments not due and payable and easements, covenants, conditions and restrictions of record that do not materially adversely affect the residential use of the RESIDENCE, and HOLDING COMPANY shall pay to the EMPLOYEE, as the purchase price for the RESIDENCE, the fair market value of the RESIDENCE, subject to customary prorations and adjustments. The EMPLOYEE shall pay the fees of the appraiser appointed by the EMPLOYEE, and HOLDING COMPANY shall pay the fees of the appraiser appointed by HOLDING COMPANY.
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Related to Purchase of House

  • Purchase of Note On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature pages hereto.

  • Purchase of Stock 2 Section 1.1

  • REPURCHASE OF NOTES AT OPTION OF HOLDERS 73 Section 10.01 Repurchase at Option of Holder Upon Fundamental Change. 73 Section 10.02 Withdrawal of Fundamental Change Repurchase Notice. 75

  • Sale and Purchase of Stock 1.1 Subject to the terms, provisions and conditions set forth herein, Seller hereby sells and delivers to Purchaser, and Purchaser hereby purchases and receives from Seller, the Shares, in exchange for the purchase price set forth hereinafter. Purchaser hereby acknowledges receipt of one or more stock certificates representing the Shares, duly endorsed or accompanied by duly executed stock transfer form.

  • Purchase of Notes The Company will not and will not permit any Affiliate to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes. The Company will promptly cancel all Notes acquired by it or any Affiliate pursuant to any payment, prepayment or purchase of Notes pursuant to any provision of this Agreement and no Notes may be issued in substitution or exchange for any such Notes.

  • Purchase of the Shares (a) The Company agrees to issue and sell the Underwritten Shares to the several Underwriters as provided in this underwriting agreement (this “Agreement”), and each Underwriter, on the basis of the representations, warranties and agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase at a price per share of $[●] (the “Purchase Price”) from the Company the respective number of Underwritten Shares set forth opposite such Underwriter’s name in Schedule 1 hereto. In addition, the Company agrees to issue and sell the Option Shares to the several Underwriters as provided in this Agreement, and the Underwriters, on the basis of the representations, warranties and agreements set forth herein and subject to the conditions set forth herein, shall have the option to purchase, severally and not jointly, from the Company the Option Shares at the Purchase Price less an amount per share equal to any dividends or distributions declared by the Company and payable on the Underwritten Shares but not payable on the Option Shares. If any Option Shares are to be purchased, the number of Option Shares to be purchased by each Underwriter shall be the number of Option Shares which bears the same ratio to the aggregate number of Option Shares being purchased as the number of Underwritten Shares set forth opposite the name of such Underwriter in Schedule 1 hereto (or such number increased as set forth in Section 10 hereof) bears to the aggregate number of Underwritten Shares being purchased from the Company by the several Underwriters, subject, however, to such adjustments to eliminate any fractional Shares as the Representatives in their sole discretion shall make. The Underwriters may exercise the option to purchase Option Shares at any time in whole, or from time to time in part, on or before the thirtieth day following the date of the Prospectus, by written notice from the Representatives to the Company. Such notice shall set forth the aggregate number of Option Shares as to which the option is being exercised and the date and time when the Option Shares are to be delivered and paid for, which may be the same date and time as the Closing Date (as hereinafter defined) but shall not be earlier than the Closing Date nor later than the tenth full business day (as hereinafter defined) after the date of such notice (unless such time and date are postponed in accordance with the provisions of Section 10 hereof). Any such notice shall be given at least two business days prior to the date and time of delivery specified therein.

  • Purchase of Shares For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash, the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject to forfeiture, on the terms and subject to the conditions set forth in this Agreement. Concurrently with the Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate registered in the Subscriber’s name representing the shares (the “Original Certificate”), or effect such delivery in book-entry form.

  • Purchase of Investments Pursuant to Instruction, Investments purchased for the account of the Fund shall be paid for (a) against delivery thereof to the Custodian or a Subcustodian, as the case may be, either directly or through a Clearing Corporation or a Securities Depository (in accordance with the rules of such Securities Depository or such Clearing Corporation), or (b) otherwise in accordance with an Instruction, Applicable Law, generally accepted trade practices, or the terms of the instrument representing such Investment.

  • Purchase of Bonds The Company may at any time, and from time to time, furnish moneys to the Trustee accompanied by a notice directing the Trustee to apply such moneys to the purchase in the open market of Bonds in the principal amounts specified in such notice, and any Bonds so purchased shall thereupon be canceled by the Trustee.

  • Issuance and Purchase of the Notes (a) Delivery of the Funding Agreement and the Guarantee to the Custodian, on behalf of the Indenture Trustee, pursuant to the Assignment or execution of the cross receipt contained in the Closing Instrument shall be confirmation of payment by the Trust for the Funding Agreement.

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