Purchase on Initial Purchase Date Clause Samples

Purchase on Initial Purchase Date. For good and valuable consideration consisting of the Purchase Price, the receipt and sufficiency of which are hereby acknowledged, each of the Sellers, by these presents, does irrevocably agree to GRANT, BARGAIN, SELL, CONVEY, ASSIGN, TRANSFER, SET OVER and DELIVER unto Purchaser, and unto Purchaser’s successors and assigns (without recourse, except as set forth below) forever, as of the date hereof (the “Initial Purchase Date”), all right, title and interest in and to the Purchased Assets, and Purchaser agrees to purchase and acquire all such Purchased Assets on the date hereof, subject to the conditions precedent set forth in Section 3(a) below. Each Purchased Account shall have a unique sequence number mutually agreed to by Seller and Purchaser as set forth in the Lockbox Agreement.