OFFICE PURCHASE AGREEMENT (English Summary)
Exhibit 10.7
OFFICE PURCHASE AGREEMENT (English Summary)
| Date: |
Xxxxx 0, 0000 | |
| Xxxxxx: |
IT’S TV Co., Ltd., located at 0xx Xxxxx, Xxxxxx Xxxxxxxx Building No. C (Daelim Acrotel) 000-0 Xxxxx-xxxx, Xxxxxxx-xx, Xxxxx, Xxxxx | |
| Purchaser: |
Webzen Inc., located at 0xx Xxxxx, Xxxxxx Xxxxxxxx Building No. C (Daelim Acrotel) 000-0 Xxxxx-xxxx, Xxxxxxx-xx, Xxxxx, Xxxxx | |
| Property: |
Building: 20,323.5 square feet, including exclusive area (8,990.4 square feet) and common use areas, located at Suite Xx. 000, 0xx Xxxxx, Xxxxxx Xxxxxxxx Building No. C (Daelim Acrotel) 000-0 Xxxxx-xxxx, Xxxxxxx-xx, Xxxxx, Xxxxx Land: 155,560 square feet, located at 000-0 Xxxxx-xxxx, Xxxxxxx-xx, Xxxxx, Xxxxx (125.391/14000.4 ownership) Fixtures: All fixtures including electricity and gas facilities | |
| Sales Price: |
(Won)3,817,770,000 plus value added tax | |
| Payment: |
(Won)1,400,000,000 on March 5, 2003 (Won)2,417,770,000 plus value added tax on April 30, 2003 | |
| Transfer of Title: |
Title to the Property shall be transferred upon (i) full payment of Sales Price and (ii) the record of title transfer on the real property registry.(1) | |
| Possession: |
Purchaser shall take possession of the Property upon full payment of Sales Price. | |
| (1) | Webzen Inc. is recorded as owner of the Property on May 28, 2003. |
