Common use of Purchase Price and Allocation Clause in Contracts

Purchase Price and Allocation. The price payable by the Purchaser to the Vendor for the Assets shall be Five Million Dollars ($5,000,000) which the parties agree shall be allocated as follows: (a) for the Real Property, the sum of Two Million Dollars ($2,000,000), and (b) for the Equipment, the sum of Three Million Dollars ($3,000,000).