Purchase Price and Payments. 6.1. The Purchase Price shall be paid to the Seller on the Registration Date in accordance with the terms of this Agreement and shall be secured by way of:
6.1.1. the Purchaser making payment of a deposit equal to the amount reflected in item D of the Schedule to the Attorneys by way of electronic funds transfer, within 7 (seven) days of the Signature Date; and
6.1.2. the Purchaser furnishing the Attorneys with an irrevocable guarantee/s issued by a recognised commercial bank or financial institution in a form acceptable to the Attorneys, for the balance of the Purchase Price (or by making a payment of the said balance to the Attorneys by way of electronic funds transfer), within 21 (twenty one) days of the Signature Date, provided that if the provisions of clause 5 are applicable, then the Purchaser shall (subject to clause 6.1.2) furnish guarantee/s as aforesaid, within 21 (twenty one) days of fulfilment or waiver, as the case may be, of the last of the condition/s to which this Agreement is subject to.
6.2. In the event that the provisions of clause 5 of the Agreement are applicable, and a mortgage loan is approved for a lesser amount acceptable to the Purchaser (as contemplated in clause 5), then notwithstanding the provisions of clause 6.1, the Purchaser shall provide the Attorneys with payment of (or an acceptable guarantee for) an amount equal to the difference of the amount stipulated in item E and the lesser amount for which the mortgage loan has been approved, by no later than within 7 (seven) days of the mortgage loan being approved.
6.3. The Purchaser shall bear the cost of any guarantee/s issued or to be issued or (for any reason) re-issued, in order to secure the Purchase Price.
6.4. The Purchaser acknowledges that the lapse or withdrawal or purported withdrawal of any guarantee by a guarantor furnished in terms of this Agreement for any reason whatsoever, shall constitute a material breach by the Purchaser of the Purchaser’s obligations to provide a guarantee/s in accordance with this clause 6.
6.5. Any amounts paid by the Purchaser to the Attorneys on account of the Purchase Price shall be held in trust and invested on the Purchaser's behalf in terms of section Section 86(4) of the Legal Practice Act No. 28 of 2014, all interest to accrue for the Purchaser’s account. The Purchaser shall be liable for fees, administration costs and statutory charges relating to the aforesaid investment which the Purchase acknowledges shall be deducted from t...
Purchase Price and Payments. The purchase price of the equipment purchased by the Purchaser under the EPA, up to $3,260,000, shall be partially ($350,000) paid for by the funds emanating from the resale of the equipment, or, as provided for herein, from qualified loan or equity proceeds, as applicable, for the benefit of the Purchaser, by the Purchaser, to the future customers of the Purchaser and/or Seller, in cash installments (the "Installments") to Seller, and the Purchaser herein agrees to pay to the Seller, pursuant to the terms and conditions set forth herein, such installments until the $350,000 is paid in full. Purchaser shall have no responsibility to pay any part of the $350,000 except from the proceeds of resale of Equipment purchased pursuant to the EPA, or from qualified loan or equity proceeds, or upon the event of a lien of senior right to this MPC being held by any party other than the Seller against the Equipment, or, in the event of default of the terms of the Registration Rights Agreement ("RRA") under the terms and conditions herein.
Purchase Price and Payments. Purchaser shall repurchase the Shares, and the Conversion Shares from Seller, free and clear of security interests, liens, encumbrances, liabilities or adverse claims (other than as may have been created by or attached to Purchaser) for cash consideration of Seven Hundred Fifty Thousand Dollars ($750,000) (the "Purchase Price"). The Purchase Price shall be paid in monthly payments of One Hundred Thousand Dollars ($100,000) by the last day of each month for seven consequent months and in the eighth month an additional payment of Fifty Thousand Dollars ($50,000) (the "Payment" or the "Payments"). The Payments shall commence on the Effective Date. Interest on the unpaid Payments shall accrue beginning on the Effective Date at a rate of six percent (6%) per annum. Accrued interest shall be due and payable on the date the last Payment is made by Purchaser to Seller in satisfaction of the Purchase Price, as set forth in this Section 2.2. The Company has the right from time to time to prepay, without premium or penalty; all or part of the outstanding Payments and accrued interest to the date of prepayment on the amount being prepaid. In consideration for the Purchase Price, Seller also agrees to cancel the Option as set forth in Section 3 herein. The Payments shall be paid by Company wire transfer to a bank account designated by Seller at the Closing.
Purchase Price and Payments. The total purchase price ("Total Purchase Price") for the Home, exclusive of any Closing Costs as described in this Agreement and the Purchase Price and Payment Addendum, is $699,990.00. Xxxxx (and not a third party) has made an xxxxxxx money deposit upon the reservation of the Home and/or upon signing of this Agreement (the "Initial Deposit") of $20,000.00. Buyer shall make further payments to Seller, including but not limited to, any "Additional Deposit" or "Advanced Payment" (consisting of non-refundable deposit(s) for options, extras, and upgrades) as set forth in the Purchase Price and Payment Addendum attached hereto and made a part hereof. The term "Deposit" shall include the Initial Deposit, Additional Deposit and Advanced Payment.
Purchase Price and Payments. The cash purchase price (“Cash Purchase Price”) for the Purchased Assets is $_________________ plus the discounted present value of the fixed “hell or highwater” rentals remaining due under the Non-Discounted Purchased Leases as identified in attached Schedule 1(a), using a discount rate equal to 8% per annum (estimated to be $______), payable in the form of a certified or cashier’s check, or by wire transfer, to or at the direction of Sellers at Closing, subject to Sections 4(b) and 4(f) below. Rentals equal to the outstanding Lease Security or Other Lease Deposit with respect to the Non-Discounted Purchased Leases shall be excluded from the calculation of the Cash Purchase Price. Buyer will assume at Closing the Discounted Leases Bank Debt related to the Discounted Purchased Leases as identified in attached Schedule 1(a) and Buyer and Sellers will work together in good faith to relieve Sellers and its Shareholders from any personal liability under the Discounted Leases Bank Debt. Buyer shall collect and pay over to Sellers or Sellers’ assignee on a monthly basis, by the fifteenth (15th) day following the end of each month, all receipts resulting from lessees’ exercise of purchase options and month to month rentals (non-fixed term) under the Purchased Leases and Existing Month to Month Leases. The purchase price provided hereunder shall be calculated as of commencement of business on ______, 20__ and all closing pro-rations shall be made as of commencement of business on ______, 20__. An amount equal to $______ (“Holdback Amount”) shall be held back at Closing as a loss reserve for any losses incurred by Buyer as a result of defaults under leases which secure the Discounted Leases Bank Debt assumed by Buyer. The Holdback Amount shall be deposited into an escrow account (“Escrow Account”) with an escrow agent agreeable to both Buyer and Sellers. The escrow agent shall pay to Buyer any losses incurred by Buyer with respect to any such defaulted leases at such time as rental payments under such lease is at least ninety (90) days past due. The amount of the loss will equal the present value discounted at the debt rate of the remaining unpaid fixed rents under such defaulted lease (“Loss Payment”). Upon any such payment, Sellers or Sellers’ assignee shall be responsible for further collection activity, including litigation, of the defaulted lease. Any monetary recoveries from any such defaulted lease shall be paid to Sellers or Sellers’ assignee, provided that...
Purchase Price and Payments. 4.1 The purchase price of the property is R (
4.2 The initial deposit is R (
4.3 The further deposit, being the difference between the initial deposit and 5% of the purchase price, is R ( ) and is payable within 7 days from signature by the Purchaser.
4.4 The deposit will be held in an interest bearing trust account with the Conveyancer in accordance with the provisions of Section 78(2A) of Act 55 of 1979, the interest to accrue to the Purchaser. The Purchaser hereby specifically authorises the Conveyancer to deposit these monies in such an interest bearing trust account on his behalf. It is recorded that the Conveyancer shall only be able to receive or invest the funds once it has been furnished by the Purchaser with all documentation required by the Conveyancer by virtue of the Financial Intelligence Act (FICA); which documentation the Purchaser shall furnish to the Conveyancer on date of payment of the deposit. The Conveyancer will invest the deposit within three days after all FICA documents have been delivered to the Conveyancer, with the understanding that the Purchasers cheque has been cleared by the bank.
4.5 The balance of the purchase price is payable on registration of transfer and the Purchaser shall by not later than the guarantee date, furnish the Seller's Conveyancer with an acceptable bankers' guarantee for the purchase price, which guarantee will be expressed to be payable on registration of transfer of the property into the Purchaser's name and will be made out in favour of such party as the Seller or its Conveyancer may nominate in writing and failing any such nomination by the guarantee date, will be made out in favour of the seller. Unit No RASLOUW LANE Client/s Initial
4.6 All amounts payable in terms of this agreement shall be paid without deduction at the Seller's address or to the transferring attorney (at the Seller's option) or at such other place or places in the Republic of South Africa as the Seller may indicate in writing.
Purchase Price and Payments. 7
4.1 Purchase Price 7 4.2 Payment of the Purchase Price 7 5. PERIOD BEFORE COMPLETION 8 5.1 Vendors' obligations on signing 8 5.2 Period before Completion 8
Purchase Price and Payments. The purchase price for the Goods shall be $ . The Seller will provide an invoice to the Buyer at the time of delivery or pick-up. All invoices must be paid in full within days. Any outstanding balances after days will be subject to a late payment penalty of %.
Purchase Price and Payments. The purchase price for the sale of the Assets under this Agreement shall be One Hundred Sixty Five Million Dollars ($165,000,000), as adjusted pursuant to Section 3.4 (the "Purchase Price"). The entire Purchase Price except for the amount of the Indemnity Fund shall be payable at the Closing by the wire transfer of federal funds to an account or accounts designated by Seller, in a written notice delivered by Seller to Buyer. Buyer shall deposit the amount of the Indemnity Fund provided in Section 3.5 directly with the Escrow Agent on the Closing Date. Buyer and Seller agree that the allocation of the Purchase Price among the Assets shall be in accordance with an appraisal to be conducted and delivered to Buyer and Seller within sixty (60) days after the Signature Date by a reputable appraisal firm selected and retained by Buyer, at Buyer's expense, with experience in the valuation and appraisal of CATV system assets, and such allocation shall be used by both Buyer and Seller in any federal, state and/or local income or other tax or information return filed by it, which includes an evaluation of the Assets (i.e., allocation of the Purchase Price), provided that not less than thirty five percent (35%) of the Purchase Price shall be allocated to the tangible assets among the Assets. Seller shall promptly notify Buyer, and Buyer shall promptly notify Seller, of any adjustment that comes to its attention which is proposed to be made by any federal, state or local taxing authority with respect to the allocation of the Purchase Price.
Purchase Price and Payments. The purchase price for the Leased Premises upon exercise of the Option shall be One Dollar ($1.00).
