Agreement of Sale definition

Agreement of Sale means this Agreement together with all Annexures and Plans, signed or initialled by, and entered into by the Seller and Purchaser;

Agreement of Sale means a fully-executed written agreement (substantially in a form approved by the Administrative Agent, which approval shall not be unreasonably withheld or delayed) between a Loan Party and a purchaser that is not an Affiliate of the Company or any other member of Toll Group, providing for the sale of a residential unit to such purchaser, which agreement (i) shall include no contingency for the purchaser selling another residence, (ii) be accompanied by a non-refundable (except on terms set forth in such agreement or as may be prevented by applicable Law) deposit equal to the lesser of (x) ten percent (10%) of the purchase price of the unit sold (at least one-half of which deposit shall have been paid in cash), (y) the difference between the purchase price set forth in such agreement and the amount of the mortgage contingency set forth in such agreement (at least one-half of which deposit shall have been paid in cash) and (z) the maximum amount of deposit which applicable Law permits the seller of such unit to retain as liquidated damages if the closing of the sale of such unit does not occur, and (iii) shall provide that the purchase price shall be paid in cash or by title company check or by attorney check or by certified or bank check at or before the closing of the sale (such cash or check may be obtained by the purchaser from a loan provided by the seller or an Affiliate of the seller). For the purpose of clause (z) above, applicable Law shall be deemed to prohibit the seller from retaining a deposit if it creates a presumption that the amount of such deposit is unreasonable and as such may not be retained by the seller.

Agreement of Sale has the meaning set forth in Recitals.

Examples of Agreement of Sale in a sentence

• Agreement of Sale shall be construed, interpreted, and applied according to the laws of Virginia, and it shall be binding upon and shall inure to the benefit of the heirs, personal representatives, successors, and assigns of the parties.

• The Deposit shall be paid within the time period as indicated in the Agreement of Sale or the fulfilment of suspensive conditions (if applicable).

• The Issuer will sell the Project to the City pursuant to an Agreement of Sale (the “Agreement”), dated as of January 1, 2025, between the Issuer and the City, under the terms of which the City will agree to make installment payments of purchase price to the Issuer in amounts calculated to be sufficient in amount and time to pay the principal of, premium, if any, and interest on the Bonds when due.

More Definitions of Agreement of Sale

Agreement of Sale means any agreement or written instrument which provides that title to any property shall thereafter be transferred for consideration from one (1) owner to another owner.

Agreement of Sale means the agreement of sale entered into in respect to the purchase of the Erf by the Purchaser(s);

Agreement of Sale means the Agreement of Sale in respect of the Property entered into by and between the Developer and the Employer;

Agreement of Sale means a fully-executed written agreement (substantially in a form approved by the Administrative Agent, which approval shall not be unreasonably withheld or delayed) between a Loan Party and a purchaser that is not an Affiliate of the Company or any other member of Toll Group, providing for the sale of a residential unit to such purchaser, which agreement (i) shall include no contingency for the purchaser selling another residence or any such contingency shall have expired or otherwise been terminated, (ii) be accompanied by a non-refundable (except on terms set forth in such agreement or as may be prevented by applicable Law) deposit at least equal to the lesser of (x) ten percent (10%) of the purchase price of the unit sold (at least one-half of which deposit shall have been paid in cash), (y) the difference between the purchase price set forth in such agreement and the amount of the mortgage contingency set forth in such agreement (at least one-half of which deposit shall have been paid in cash) and (z) the maximum amount of deposit which applicable Law permits the seller of such unit to retain as liquidated damages if the closing of the sale of such unit does not occur, and (iii) shall provide that the purchase price shall be paid in cash or by title company check or by attorney check or by certified or bank check at or before the closing of the sale (such cash or check may be obtained by the purchaser from a loan provided by the seller or an Affiliate of the seller). For the purpose of clause (z) above, applicable Law shall be deemed to prohibit the seller from retaining a deposit if it creates a presumption that the amount of such deposit is unreasonable and as such may not be retained by the seller.

Agreement of Sale means the agreement pursuant to which Company sold and Customer purchased the Facilities subject to this Agreement.

Agreement of Sale means any agreement or written instrument which provides that title to any property shall thereafter be transferred from one owner to another owner, including a lease with option to buy.

Agreement of Sale means an executory contract for the sale and purchase of real estate which binds one party to sell and the other party to buy real estate which is the subject matter of the transaction, and in which the seller retains legal title to the real estate. As used in this section, an agreement of sale includes a subagreement of sale or other subsequent subagreement of sale.