Satisfaction of Purchase Price. The Purchaser shall indefeasibly pay and satisfy the Purchase Price by: (a) paying the Deposit in accordance with Section 4.2; (b) paying an amount equal to the Priority Payables (less a credit for the amount of the Deposit) by wire transfer, certified cheque or immediately available funds to the Vendor on Closing; and (c) reducing the amount owed by the Vendor to the Purchaser and secured by the Purchaser’s mortgage on the Real Property by the Mortgage Indebtedness Amount on a dollar-for-dollar basis.
Appears in 3 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement