Common use of Purchase Price and Manner of Payment Clause in Contracts

Purchase Price and Manner of Payment. The purchase price for the Work is One Million Three Hundred Fifty Thousand Dollars ($1,350,000) (the “Purchase Price”). The Purchase Price shall be paid as follows: (i) a deposit in the amount of Fifty Thousand Dollars ($50,000) shall be paid within five (5) business days of the execution of this Agreement (the “First Installment”), and (ii) the remaining One Million Three Hundred Thousand Dollars ($1,300,000) of the Purchase Price (the “Final Installment”) shall be paid within forty five (45) days of the payment of the First Installment. The Purchase Price shall be paid by Buyer or Agent (or a combination of Buyer and Agent) to Seller by wire transfer in accordance with the wire instructions listed in the invoice attached hereto as Exhibit A, which shall be verbally confirmed by Axxxxxx Xxxxxx on behalf of Buyer and [***] on behalf of Seller prior to payment to Seller.

Appears in 1 contract

Samples: Art Purchase Agreement (Masterworks 065, LLC)

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Purchase Price and Manner of Payment. The purchase price for the Work is One Million Three Nine Hundred and Fifty Thousand Dollars ($1,350,0001,950,000) (the “Purchase Price”). The Purchase Price shall be paid as follows: (i) a non-refundable deposit in the amount of Fifty Three Hundred Thousand Dollars ($50,000300,000) shall be paid within five (5) business days of the execution of this Agreement (the “First Installment”), and (ii) the remaining One Million Three Six Hundred Fifty Thousand Dollars ($1,300,0001,650,000) of the Purchase Price (the “Final Installment”) shall be paid within forty five (45) 120 days of the payment full execution of this Agreement. For the First Installmentavoidance of doubt, the obligation to pay the Final Installment is expressly conditioned on Buyer’s ability to inspect the Work prior to the Closing Date. The Agent shall pay the Purchase Price shall be paid by Buyer or Agent (or a combination of Buyer and Agent) to Seller Owner by wire transfer in accordance with the wire instructions listed in the invoice attached hereto as Exhibit AB, which shall be verbally confirmed by Axxxxxx Xxxxxx Alyssa Laverda on behalf of the Buyer and [***] on behalf of Seller Owner prior to payment to SellerOwner.

Appears in 1 contract

Samples: Art Purchase Agreement (Masterworks 079, LLC)

Purchase Price and Manner of Payment. The purchase price for the Work is One Two Million Three Hundred Fifty Thousand Dollars ($1,350,0002,000,000) (the “Purchase Price”). The Purchase Price shall be paid as follows: (i) a non-refundable deposit in the amount of Fifty Four Hundred Thousand Dollars ($50,000400,000) shall be paid within five (5) business days of the execution of this Agreement (the “First Installment”), and (ii) the remaining One Million Three Six Hundred Thousand Dollars ($1,300,0001,600,000) of the Purchase Price (the “Final Installment”) shall be paid within forty five (45) 60 days of the payment full execution of this Agreement. For the First Installmentavoidance of doubt, the obligation to pay the Final Installment is expressly conditioned on Buyer’s ability to inspect the Work at Cxxxxxx Fine Arts (as defined in Section 4.1) prior to the Closing Date. The Agent shall pay the Purchase Price shall be paid by Buyer or Agent (or a combination of Buyer and Agent) to Seller by wire transfer in accordance with the wire instructions listed in the invoice attached hereto as Exhibit AB, which shall be verbally confirmed by Axxxxxx Xxxxxx on behalf of Buyer and [***] on behalf of Seller and Alyssa Laverda prior to payment to Seller.

Appears in 1 contract

Samples: Art Purchase Agreement (Masterworks 069, LLC)

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Purchase Price and Manner of Payment. The purchase price for the Work is One Three Million Three Hundred Fifty Thousand United States Dollars (USD $1,350,0003,000,000) (the “Purchase Price”). The Purchase Price shall be paid as follows: (i) a non-refundable deposit in the amount of Fifty Five Hundred Thousand United States Dollars (USD $50,000500,000) shall be paid within five (5) business days of the execution of this Agreement (the “First Installment”), and (ii) the remaining One Million Three Hundred Thousand Txx Xxxxxxx Xxxx Xxxxxxx Xxxxxxxx Xxxxxx Xxxxxx Dollars (USD $1,300,0002,500,000) of the Purchase Price (the “Final Installment”) shall be paid within forty five (45) 120 days of the payment execution of this Agreement. For the avoidance of doubt, the Buyer’s obligation to pay the Purchase Price is expressly conditioned on confirmation of the First InstallmentWork’s condition as set forth in Section 3.1.6. The Agent shall pay the Purchase Price shall be paid by Buyer or Agent (or a combination of Buyer and Agent) to Seller by wire transfer in accordance with the wire instructions listed set forth in the invoice invoice, a copy of which is attached hereto as Exhibit A, which shall be verbally confirmed by Axxxxxx Xxxxxx Alyssa Laverda on behalf of Buyer and [***] on behalf of Seller prior to payment to Seller.

Appears in 1 contract

Samples: Art Purchase Agreement (Masterworks 078, LLC)

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