Purchase Price; Deposits. The following shall apply with respect to the Purchase Price of the Property:
Purchase Price; Deposits. 1.Purchaser agrees to pay a purchase price of Nineteen Million Dollars ($19,000,000) (the "Purchase Price") for the Property. The Purchase Price, plus or minus prorations, credits, and adjustments, if any, as hereinafter provided, shall be payable as follows:
Purchase Price; Deposits. (a) The Developer shall pay to the Town the sum of Dollars ($ ) (the “Purchase Price”) for the Property, of which (i) Thirty Thousand ($30,000.00) Dollars has previously been paid to the Town as a “Proposal Deposit” pursuant to the RFP, (ii) Fifty Thousand ($50,000.00) Dollars has previously been paid to the Town as a “Selection Deposit” pursuant to the RFP, and (iii) Two Hundred Thousand ($200,000.00) Dollars has this day been paid to the Town as an “Execution Deposit” pursuant to the RFP (collectively, the “Deposits”), which will be held and disbursed in accordance with the terms of this Agreement. The balance of the Purchase Price shall be paid in full at the time of the “Closing” (as hereinafter defined) by wire transfer of immediately available funds to an account designated by the Town in writing.
Purchase Price; Deposits. The total purchase price (the “Total Purchase Price”) for the Estate Home shall be payable in United States Dollars as follows: First Deposit equivalent to ten percent (10%) of the Purchase Price due seven (7) business days following the expiration of the Due Diligence Period pursuant to Section 6 below and following receipt by the Escrow Agent of all documentation required to open the Escrow Account. If the First Deposit is not received when due, this Agreement shall terminate and be null and void. Thereafter, neither party shall have any further liability or obligation to the other under this Agreement. $_645,000.00 Second Deposit equivalent to ten percent (10%) of the Purchase $ 645,000.00 Price, due seven (7) business days following notice by Seller to Purchaser of Infrastructure Commencement (as defined in Section 5 (d) below) Third Deposit equivalent to twenty percent (20%) of the Purchase Price, due seven (7) business days following notice by Seller to Purchaser of Foundation Completion (as defined in Section 5(d) below) $_1,290,000.00 Fourth Deposit equivalent to twenty percent (20%) of the Purchase Price, due seven (7) business days following notice by Seller to Purchaser of completion of Building Lockup (as defined in Section 5(d) below) $_1,290,000.00 Fifth Deposit equivalent to twenty percent (20%) of the Purchase Price, due seven (7) business days following notice by Seller to Purchaser of completion of Internal Fit-Out (as defined in Section 5(d) below) $_1,290,000.00 Balance Due at Closing: Balance of twenty percent (20%) of the Purchase Price plus Costs Associated with Transfer of Concession and other closing costs, (collectively “Additional Closing Costs” as defined in subsection 2 (c) below), due two (2) business days before Closing $_1,290,000.00 (plus Additional Closing Costs) Total Purchase Price $_6,450,000.00 (plus Additional Closing Costs)
Purchase Price; Deposits. (a) Buyer agrees to pay the fair market value of the Premises as determined using either an appraisal, a broker opinion of value, a fairness opinion from an independent third party or some combination of these inputs mutually agreed on by Buyer and Seller (the “Purchase Price”) for the Premises, however, the minimum purchase price will be $11,037,637.37. Buyer and Seller are parties to that certain Right of First Refusal and Option, dated as of December 9, 2013, with respect to the Property (the “ROFR”). Under the ROFR, Buyer was granted the right to purchase the Property for an amount equal to the fair market value of the Property as negotiated between Buyer and Seller (taking into account assumed debt and other obligations relating to the Property) minus the Option Fee. The “Option Fee” under the ROFR is (i) the amount (the “Advanced Amount”) that Buyer paid (including reasonable and verifiable expenses) to obtain and terminate (through conversion hereunder of the B Note into the Option Fee) that certain Bifurcated Note B (the “B Note”), in favor of Capmark Bank (the “Original Lender”), dated March 1, 2010 in the original principal amount of $2,851,500.00 and subsequently acquired by German American Capital Corporation that encumbered the Property prior to the date of the ROFR, plus (ii) 12% simple interest per annum on the Advanced Amount from the date of the ROFR through the date of the sale of the Property. The Option Fee is hereby converted into the “Deposit”, which is $1,537,637.37 on the date hereof, and which shall continue to accrue interest until the Closing as provided in Section 2(a)(ii).
Purchase Price; Deposits. (a) Purchaser agrees to pay an aggregate purchase price for the Property (the "Purchase Price") equal to the lesser of (i) Eleven Million One Hundred Eighty-Seven Thousand and No/100 Dollars ($11,187,000.00) or (ii) if Seller enters into the Settlement Agreement, the sum of (A) One Million Four Hundred Ninety-one Thousand Six Hundred and No/100 Dollars ($1,491,600.00) and (B) the Settlement Amount (defined below), or (iii) if Purchaser enters into the Loan Sale Agreement (defined below), One Million Three Hundred Five Thousand One Hundred Fifty and No/100 Dollars ($1,305,150.00). For conveyance tax and other closing purposes, the Purchase Price shall be allocated among the Properties as set forth in Exhibit C attached hereto. The Purchase Price, plus or minus pro-rations, credits and adjustments, if any, as hereinafter provided, shall be payable as follows:
Purchase Price; Deposits. (a) Purchaser agrees to pay an aggregate purchase price for the Property (the "Purchase Price") equal to the lesser of (i) Three Million Eight Hundred Thirteen Thousand and No/100 Dollars ($3,813,000.00); or (ii) if Seller enters into the Settlement Agreement, the sum of (A) Five Hundred Eight Thousand Four Hundred and No/100 Dollars ($508,400.00) and (B) the Settlement Amount (defined below), or (iii) if the Purchaser enters into the Loan Sale Agreement, Four Hundred Forty Four Thousand Eight Hundred Fifty and No/100 Dollars ($444,850.00) . The Purchase Price, plus or minus pro-rations, credits and adjustments, if any, as hereinafter provided, shall be payable as follows:
Purchase Price; Deposits. (a) Seller hereby acknowledges and agrees that, prior to the date hereof, an amount equal to seventy-seven thousand five hundred dollars ($77,500) has been paid by Buyer (the “Due Diligence/Standstill Fee”), and that such Due Diligence/Standstill Fee has been released from escrow by Seller and distributed as provided in the Term Sheet to Debtor’s bankruptcy estate (the “Estate”).
Purchase Price; Deposits. 2.2.1. The purchase price (“Purchase Price”) for the sale and purchase of the Hotel shall be Fifty-Two Million Two Hundred Thousand Dollars ($52,200,000.00), subject to the debits and credits described in ARTICLE 10. Seller and Buyer shall cooperate with each other in good faith to arrive, prior to the Closing, at a mutually acceptable allocation of the Purchase Price (the “Allocation”) among the Land, the Improvements and the personal property, with the amount allocable to personal property being further allocated between tangible personal property and intangible property. Seller and Buyer agree to (i) be bound by the Allocation, (ii) act in accordance with the Allocation in the preparation of financial statements and filing of all tax returns and in the course of any tax audit, tax review or tax litigation relating thereto, and (iii) refrain from, and cause their affiliates to refrain from, taking a position inconsistent with the Allocation for all tax purposes. If Seller and Buyer cannot agree upon the Allocation prior to the Closing, each party shall file federal, state and local tax returns based on each party’s own determination of the Allocation, each bearing its own consequences of any discrepancies.
Purchase Price; Deposits. 3. The following will apply with respect to the Purchase Price of the Property:
