Common use of Purchase Price and Payment Schedule Clause in Contracts

Purchase Price and Payment Schedule. The total purchase price for the Rig, shall be Five Million Six Hundred Twenty-Five Thousand and no/100 Dollars ($5,625,000.00) (the "Purchase Price"), together with any applicable state or local taxes, if any, to be paid as follows: a. upon execution of this Agreement, a deposit in an amount which is equal to ten percent (10%) of the Purchase Price, $562,500.00 ("the First Deposit"), will be made by Purchaser to Seller via wire transfer to Seller's designated bank account, receipt of which for purposes of this Agreement shall occur when the wire transfer is confirmed as received by Seller's bank, which will be held by Seller in constructive trust and applied to the Purchase Price upon delivery and acceptance of the Rig; and b. at the time of sixty (60) days from the date of execution of this Agreement, a second deposit of ten percent (10%) of the Purchase Price, $562,500.00 ("the Second Deposit"), will be paid by Purchaser to Seller via wire transfer to Seller's designated bank account, which will be held by Seller in constructive trust and applied to the Purchase Price upon delivery and acceptance of the Rig; and c. the balance of the Purchase Price, together with any and all applicable state or local taxes, if any, due on the Purchase Price, will be paid by Purchaser to Seller via wire transfer to Seller's designated bank account upon Delivery and Acceptance of the Rig as hereinafter defined, and such approval and payment shall not be unreasonably withheld by the Purchaser.

Purchase Price and Payment Schedule. The total purchase price for the Rig, shall be Five Four Million Six One Hundred Twenty-Three Thousand Five Thousand Hundred and no/100 Dollars ($5,625,000.004,123,500.00) (the "Purchase Price"), together with any applicable state or local taxes, if any, to be paid as follows: a. upon the execution of this Agreement, a deposit in an amount which is equal to ten percent (10%) of the Purchase Price, $562,500.00 412,350.00 (the "the First Deposit"), ) will be made by Purchaser to Seller via wire transfer to Seller's designated bank account, receipt of which for purposes of this Agreement shall occur when the wire transfer is confirmed as received by Seller's bankPurchaser, which will be held by Seller in constructive trust and applied to the Purchase Price upon delivery Delivery and acceptance Acceptance of the Rig; and b. at the time of sixty forty-five (6045) days from the date of execution of this Agreement, a second deposit in the amount of ten percent (10%) of the Purchase Price, $562,500.00 412,350.00 (the "the Second Deposit"), ) will be paid made by Purchaser to Seller via wire transfer to Seller's designated bank accountPurchaser, which will be held by Seller in constructive trust and applied to the Purchase Price upon delivery Deliver and acceptance Acceptance of the Rig; and c. the balance of the Purchase Price, together with any and all applicable state or local taxes, if any, due on the Purchase Price, will be paid by Purchaser to Seller via wire transfer to Seller's designated bank account upon Delivery and Acceptance of the Rig as hereinafter defined, and such approval and payment shall not be unreasonably withheld by the Purchaser.

Purchase Price and Payment Schedule. The total purchase price for the Rig, shall be Five Million Six One Hundred Twenty-Five Thousand and no/100 Dollars ($5,625,000.005,100,000.00) (the "Purchase Price"), together with any applicable state or local taxes, if any, to be paid as follows: a. upon execution of this Agreement, a deposit payment in an amount which is equal to ten percent (10%) of the Purchase Price, equal to $562,500.00 510,000.00 ("the First DepositPayment"), ) will be made by Purchaser to Seller via wire transfer to Seller's designated bank account, receipt of which for purposes of this Agreement shall occur when the wire transfer is confirmed as received by Seller's bank, which will be held by Seller constitute payment for the Mast as further set forth in constructive trust and applied to the Purchase Price upon delivery and acceptance of the RigSection 3 below; and b. at on the time of sixty date forty-five (6045) days from the date of execution of this Agreement, a second deposit payment of ten percent (10%) of the Purchase Price, equal to $562,500.00 510,000.00 ("the Second DepositPayment"), ) will be paid by Purchaser to Seller via wire transfer to Seller's designated bank account, which will be held by Seller constitute payment for the Substructure as further set forth in constructive trust and applied to the Purchase Price upon delivery and acceptance of the RigSection 3 below; and c. the balance of the Purchase Price, together with any and all applicable state or local taxes, if any, due on the Purchase Price, will be paid by Purchaser to Seller via wire transfer to Seller's designated bank account upon Delivery and Acceptance of the Rig as hereinafter defined, and such approval and payment shall not be unreasonably withheld by the Purchaser.

Purchase Price and Payment Schedule. The total purchase price for the Rig, shall be Five Million Six Hundred Twenty-Five Thousand and no/100 Dollars ($5,625,000.00) (the "Purchase Price"), together with any applicable state or local taxes, if any, to be paid as follows: a. upon execution delivery and acceptance of this AgreementPioneer Rig 24, a deposit in an amount which is equal to ten percent (10%) of the Purchase Price, $562,500.00 ("the First Deposit"), will be made by Purchaser to Seller via wire transfer to Seller's designated bank account, receipt of which for purposes of this Agreement shall occur when the wire transfer is confirmed as received by Seller's bank, which will be held by Seller in constructive trust and applied to the Purchase Price upon delivery and acceptance of the Rig; and b. at the time of sixty (60) days from the date of execution payment of this Agreementthe First Deposit, a second deposit of ten percent (10%) of the Purchase Price, $562,500.00 ("the Second Deposit"), will be paid by Purchaser to Seller via wire transfer to Seller's designated bank account, which will be held by Seller in constructive trust and applied to the Purchase Price upon delivery and acceptance of the Rig; and c. the balance of the Purchase Price, together with any and all applicable state or local taxes, if any, due on the Purchase Price, will be paid by Purchaser to Seller via wire transfer to Seller's designated bank account upon Delivery and Acceptance of the Rig as hereinafter defined, and such approval and payment shall not be unreasonably withheld by the Purchaser.