TVG's Closing Documents Sample Clauses

TVG's Closing Documents. On the Execution Date, TVG shall deliver to PRESSER the following documents, all of which shall be duly executed: 11.1.1 Bills of sale, certificates of title and assignments for the Infomercials, Assets and Existing Inventory subject to this Agreement (the “Business Assets”), in a form reasonably satisfactory to PRESSER's counsel, containing full warranties of title, in order to vest in PRESSER good, absolute and marketable title in such Business Assets, free and clear of all liens, charges, encumbrances and restrictions of any type or character; and 11.1.2 Payment by wire transfer in the amount of Three Hundred Thirty-Nine Thousand Eight Hundred Seven and 32/100 cents ($339,807.32), representing the following: (i) Four Hundred Fifty-Four Thousand Eight Hundred Seven and 32/cents ($454,807.32) – total amounts owing by TVG to PRESSER for the Prior Inventory and the Royalties, pursuant to Paragraphs 4 and 5 hereof; (ii) reduced by the sum of (a) Fifty Thousand ($50,000.00) Dollars – payment by PRESSER to TVG for the Existing Inventory, pursuant to Paragraph 9 hereof; and (b) Sixty-Five Thousand ($65,000.00) Dollars held in escrow by the Escrow Agent, pursuant to the provisions contained in Section 8.2 hereof. 11.1.3 Any other documentation deemed reasonable and necessary by PRESSER's attorney to effectuate the terms of this Agreement.