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Common use of Purchase Price; Consideration Clause in Contracts

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Fifty-Seven Thousand Dollars ($57,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 1,500 Membership Interests, having a value equal to Fifteen Thousand Dollars ($15,000), to the party from which Seller acquired the Asset, as the remaining consideration for the Ownership Interests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of FiftySeventy-Seven Five Thousand Dollars ($57,00075,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 1,500 2,500 Membership Interests, having a value equal to Fifteen Twenty Five Thousand Dollars ($15,00025,000), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership Interests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of FiftyTwenty-Seven Nine Thousand Dollars ($57,00029,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 1,500 21,000 Membership Interests, having a value equal to Fifteen Twenty-One Thousand Dollars ($15,00021,000), to the party from which Seller acquired the Asset, as the remaining consideration for the Ownership Interests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Collection LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Fifty-Seven Two Hundred Eighty Thousand Dollars ($57,000280,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 1,500 5,250 Membership Interests, having a value equal to Fifteen Fifty Two Thousand Five Hundred Dollars ($15,00052,500), to the initial Asset seller to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership Interests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Fifty-Seven Ninety Thousand Dollars ($57,00090,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 1,500 27,000 Membership Interests, having a value equal to Fifteen Two Hundred Seventy Thousand Dollars ($15,000270,000), to the party from which Seller acquired the Asset, as the remaining consideration for the Ownership Interests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Fifty-Seven Twenty Thousand Eighty Dollars ($57,00020,080) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 1,500 502 Membership Interests, having a value equal to Fifteen Five Thousand Twenty Dollars ($15,0005,020), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership Interests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Fifty-Four Hundred Sixteen Thousand Seven Thousand Hundred Dollars ($57,000416,700) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 1,500 23,330 Membership Interests, having a value equal to Fifteen One Hundred Fifty Thousand Dollars ($15,000233,300), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership Interestsinterests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Fifty-Seven Four Hundred Five Thousand Dollars ($57,000405,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 1,500 500 Membership Interests, having a value equal to Fifteen Ten Thousand Dollars ($15,00010,000), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership Interestsinterests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)