Common use of Purchase Price and Payment Method Clause in Contracts

Purchase Price and Payment Method. 3.1 The purchase price for the Object of Purchase amounts to 3.2 The purchase price shall be payable en bank working day in Frankfurt am Main (“Bank Working Day”) after the day on which the notary public confirms to the Buyer pursuant to Sec. 3.3 that the following requirements have been met: a) The notary public has received the municipality’s waiver with respect to statutory rights of pre-emption and all permits necessary for the performance of this Agreement. b) The notary public has been notified by the Land Registry of the registration of the priority notice pursuant to Sec. 000 XXX (Xxxxxx Civil Code) in favour of the Buyer in accordance with Sec. 15.2 of this Agreement. In relation to the priority notice, only such encumbrances shall be effective or rank higher that have been registered with the Buyer’s consent or whose registration has been taken over by the Buyer or whose cancellation pursuant to the following para. c) is ensured. c) The notary public is provided with all deletion documents for any encumbrances which are not acquired, which rank prior or equal to the priority notice or are effective in relation to it, for which the notary public may only be given fiduciary instructions by creditors that are not in conflict with this Agreement; the redemption amount may not exceed the purchase price minus EUR 92,000.00. The Parties hereby jointly authorise the notary public to request, to accept and to use the documentation regarding the discharge of encumbrances, also according to Sec. 875 (2) BGB, in the name and on behalf of all parties to this Agreement and involved in the financing of the purchase price. The Seller shall bear the costs of deleting the land charges as well as of any and all encumbrances that it does not acquire. The notary public is further provided with the confirmations of the real property lien holder (Grundpfandgläubiger) pursuant to which any securities from the Object of Purchase and/or the lease agreements (such as lease assignments, pledges) have been cancelled upon receipt of the amount specified in the trust condition (Treuhandauflage) by reassignment (Rückabtretung) or otherwise. d) There are no obstacles to the registration of the transfer of ownership to the Buyer in accordance with the terms of this Agreement, with the exception of aa) the potentially still outstanding clearance certificate to be furnished by the tax office with respect to the property acquisition tax, bb) the outstanding application to the court for registration of the transfer of ownership. e) the lessee’s easement pursuant to Annex 3.

Purchase Price and Payment Method. 3.1 The purchase price for the Object of Purchase amounts to 3.2 The purchase price shall be payable en ten bank working day days in Frankfurt am Main (“Bank Working Day”) after the day on which the notary public confirms to the Buyer pursuant to Sec. 3.3 that the following requirements have been met: a) The notary public has received the municipality’s waiver with respect to statutory rights of pre-emption and all permits necessary for the performance of this Agreement, in particular the permit under redevelopment law [sanierungsrechtliche Genehmigung] by the City of Hanover. b) The notary public has been notified by the Land Registry of the registration of the priority notice pursuant to Sec. 000 XXX (Xxxxxx Civil Code) in favour of the Buyer in accordance with Sec. 15.2 16.2 of this Agreement. In relation to the priority notice, only such encumbrances shall be effective or rank higher that have been registered with the Buyer’s consent or whose registration has been taken over by the Buyer or whose cancellation pursuant to the following para. c) is ensured. c) The notary public is provided with all deletion documents for any encumbrances which are not acquired, which rank prior or equal to the priority notice or are effective in relation to it, for which the notary public may only be given fiduciary instructions by creditors that are not in conflict with this Agreement; the redemption amount may not exceed the purchase price minus EUR 92,000.0087,000.00. The Parties hereby jointly authorise the notary public to request, to accept and to use the documentation regarding the discharge of encumbrances, also according to Sec. 875 (2) BGB, in the name and on behalf of all parties to this Agreement and involved in the financing of the purchase price. The Seller shall bear the costs of deleting the land charges as well as of any and all encumbrances that it does not acquire. The notary public is further provided with the confirmations of the real property lien holder holders (Grundpfandgläubiger) pursuant to which any securities from the Object of Purchase and/or the lease agreements (such as lease assignments, pledges) have been cancelled upon receipt of the amount specified in the trust condition (Treuhandauflage) by reassignment re-assignment (Rückabtretung) or otherwise. d) There are no obstacles to the registration of the transfer of ownership to the Buyer in accordance with the terms of this Agreement, with the exception of aa) the potentially still outstanding clearance certificate to be furnished by the tax office with respect to the property acquisition tax, bb) the outstanding application to the court for registration of the transfer of ownership. e) the lessee’s easement pursuant to Annex 3.

Purchase Price and Payment Method. 3.1 The purchase price for the Object of Purchase amounts to 3.2 to The purchase price shall be payable en ten bank working day days in Frankfurt am Main (“Bank Working Day”) after the day on which the notary public confirms to the Buyer pursuant to Sec. 3.3 3.2 that the following requirements have been met:. a) The notary public has received the municipality’s waiver with respect to statutory rights of pre-emption and all permits necessary for the performance of this Agreement. b) The notary public has been notified by the Land Registry of the registration of the priority notice pursuant to Sec. 000 XXX (Xxxxxx Civil Code) in favour of the Buyer in accordance with Sec. 15.2 of this Agreement. In relation to the priority notice, only such encumbrances shall be effective or rank higher that have been registered with the Buyer’s consent or whose registration has been taken over by the Buyer or whose cancellation pursuant to the following para. c) is ensured. c) The notary public is provided with all deletion documents for any encumbrances which are not acquired, which rank prior or equal to the priority notice or are effective in relation to it, for which the notary public may only be given fiduciary instructions by creditors that are not in conflict with this Agreement; the redemption amount may not exceed the purchase price minus EUR 92,000.0061,000.00. The Parties hereby jointly authorise the notary public to request, to accept and to use the documentation regarding the discharge of encumbrances, also according to Sec. 875 (2) BGB, in the name and on behalf of all parties to this Agreement and involved in the financing of the purchase price. The Seller shall bear the costs of deleting the land charges as well as of any and all encumbrances that it does not acquire. The notary public is further provided with the confirmations of the real property lien holder holders (Grundpfandgläubiger) pursuant to which any securities from the Object of Purchase and/or the lease agreements (such as lease assignments, pledges) have been cancelled upon receipt of the amount specified in the trust condition (Treuhandauflage) by reassignment (Rückabtretung) or otherwise. d) There are no obstacles to the registration of the transfer of ownership to the Buyer in accordance with the terms of this Agreement, with the exception of aa) the potentially still outstanding clearance certificate to be furnished by the tax office with respect to the property acquisition tax, bb) the outstanding application to the court for registration of the transfer of ownership. Notwithstanding the notary public’s confirmation mentioned in sentence 1, the purchase price shall not become payable prior to 17 September 2012 and only when the maturity requirements specified in Annex 1 to the Framework Deed (Purchase Agreement Worms) in Sec. 3.2 a) through e) have also been met and this has been confirmed by the notary public to the Buyer in written form, unless the relevant buyer has withdrawn from the Purchase Agreement Worms. e) 3.2 The notary public is instructed to confirm to the lessee’s easement pursuant to Annex 3Parties in writing by registered letter with return receipt that the requirements of Sec.

Purchase Price and Payment Method. 3.1 The purchase price for the Object of Purchase amounts to 3.2 The purchase price shall be payable en ten bank working day days in Frankfurt am Main (“Bank Working Day”) after the day on which the notary public confirms to the Buyer pursuant to Sec. 3.3 that the following requirements have been met: a) The notary public has received the municipality’s waiver with respect to statutory rights of pre-emption and all permits necessary for the performance of this Agreement. b) The notary public has been notified by the Land Registry of the registration of the priority notice pursuant to Sec. 000 XXX (Xxxxxx Civil Code) in favour of the Buyer in accordance with Sec. 15.2 16.2 of this Agreement. In relation to the priority notice, only such encumbrances shall be effective or rank higher that have been registered with the Buyer’s consent or whose registration has been taken over by the Buyer or whose cancellation pursuant to the following para. c) is ensured. c) The notary public is provided with all deletion documents for any encumbrances which are not acquired, which rank prior or equal to the priority notice or are effective in relation to it, for which the notary public may only be given fiduciary instructions by creditors that are not in conflict with this Agreement; the redemption amount may not exceed the purchase price minus EUR 92,000.0060,000.00. The Parties hereby jointly authorise the notary public to request, to accept and to use the documentation regarding the discharge of encumbrances, also according to Sec. 875 (2) BGB, in the name and on behalf of all parties to this Agreement and involved in the financing of the purchase price. The Seller shall bear the costs of deleting the land charges as well as of any and all encumbrances that it does not acquire. The notary public is further provided with the confirmations of the real property lien holder holders (Grundpfandgläubiger) pursuant to which any securities from the Object of Purchase and/or the lease agreements (such as lease assignments, pledges) have been cancelled upon receipt of the amount specified in the trust condition (Treuhandauflage) by reassignment re-assignment (Rückabtretung) or otherwise. d) There are no obstacles to the registration of the transfer of ownership to the Buyer in accordance with the terms of this Agreement, with the exception of aa) the potentially still outstanding clearance certificate to be furnished by the tax office with respect to the property acquisition tax, bb) the outstanding application to the court for registration of the transfer of ownership. e) the lessee’s easement pursuant to Annex 3.