Purchase Price, Payment, Default Sample Clauses

Purchase Price, Payment, Default. Off- setting, Retention, Assignment
Sample 1
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Purchase Price, Payment, Default. In full payment for the Purchased Assets, in addition to assuming the Assumed Liabilities, Purchaser will pay to Parent by wire transfer of immediately available funds the aggregate sum of One Million Dollars ($1,000,000) (the “Purchase Price”). The Purchase Price shall be payable by Purchaser to Parent as follows: Two Hundred Fifty Thousand Dollars ($250,000) at the Closing (the “Closing Purchase Price”), and Seven Hundred Fifty Thousand Dollars ($750,000) to be deposited by Purchaser into an Escrow Account (the “Escrow Account”) to be established by Purchaser and Parent with SunTrust Bank (the “Escrow Agent”), to be held by the Escrow Agent pursuant to the terms of the Escrow Agreement, plus any fees due to the Escrow Agent under the Escrow Agreement. The Escrow Agent shall disburse Two Hundred Fifty Thousand Dollars ($250,000) to the Parent on the last day of each of June, September and December of 2013 (each an “Installment Payment”), pursuant to the terms of the Escrow Agreement.
Sample 1
Purchase Price, Payment, Default. If Tenant shall fail to make payment of the Purchase Price in the amount and at the time required pursuant to SECTION 4 of Article X, Landlord shall give Tenant written notice specifying such default and Tenant shall then fifteen (15) Business Days from the date Landlord gave such written notification to Tenant in which to cure the same. If after such fifteen (15) Business Day period Tenant shall not have cured such default, then Landlord shall give Tenant a second and final notice specifying such default. If Tenant shall fail to cure such default within five (5) days after such second and final notice, then such failure shall constitute a "PURCHASE PRICE PAYMENT DEFAULT."
Sample 1

Related to Purchase Price, Payment, Default

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • No Material Default; Payment Record No Mortgage Loan has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required payments in the prior 12 months (or since origination if such Mortgage Loan has been originated within the past 12 months), and as of Cut-off Date, no Mortgage Loan is delinquent (beyond any applicable grace or cure period) in making required payments. To the Mortgage Loan Seller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the related Mortgage Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mortgage Loan or the value, use or operation of the related Mortgaged Property; provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Mortgage Loan Seller in this Exhibit C. No person other than the holder of such Mortgage Loan may declare any event of default under the Mortgage Loan or accelerate any indebtedness under the Mortgage Loan documents.

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

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