Examples of Purchase Account in a sentence
If a Developer Officer does not accept this Agreement within 14 days after it is signed by Buyer the Agreement shall be deemed to have not been accepted by Developer and Developer shall so notify Buyer in which event Developer shall, within seven days thereafter, pay Buyer a full refund of all amounts paid into the Fractional Interest Purchase Account.
The Purchase Account shall be managed by an agent (the "Agent") having a responsibility to ensure such compliance occurs and for the subsequent distribution of funds after all of the conditions for the closing of the Fractional Interest purchase as set forth in the Agreement and below have been satisfied.
The Initial to Perpetual Term Conversion Price and all other payments for a Perpetual Term not made by the Closing Date shall be made directly to Developer, not to the Fractional Interest Purchase Account, and such payments for a Perpetual Term are deemed earned and non refundable when received by Developer.
Fractional Interest Purchase Account requirements are described in, but not limited to provisions of Exhibit "A", "Purchase Account Instructions", attached to and hereby made a part of this Agreement.
All payments by Buyer for the purchase of an Initial Term or Perpetual Term that will be final on the Closing Date must be to the "Fractional Interest Purchase Account" and will be held in such Account until the Closing Date or until a refund is paid to Buyer as provided for in this Agreement.