Common use of Consideration for Assets Clause in Contracts

Consideration for Assets. As consideration for the sale of the Assets to Buyer and for the other covenants and agreements of the Seller and the Shareholders contained herein, Buyer agrees to pay on the date of Closing, the sum of $925,000.00 to Seller by wire transfer of immediately available funds to an account designated by the Seller or by delivery of immediately available funds. In addition, within thirty (30) days following the Closing, Buyer will pay Seller an additional amount equal to the amounts paid by Seller for equipment purchases made by Seller after January 1, 1998, and before the date hereof which expand the capabilities of the Business and which are described on Schedule 1.3 hereto.