Consideration for Conveyance Sample Clauses
The 'Consideration for Conveyance' clause defines the payment or value exchanged for the transfer of property or rights from one party to another. Typically, this clause specifies the amount, form, and timing of the consideration, such as a lump sum payment, installment plan, or other valuable assets provided in exchange for the conveyance. Its core function is to clearly establish the agreed-upon value that justifies the transfer, ensuring both parties understand their obligations and helping to prevent disputes over what is being exchanged.
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Consideration for Conveyance. Section 3.1 Subject to the terms, conditions and provisions herein contained, Company agrees to pay and assign to Contributor, and Contributor agrees to accept, as consideration for the contribution of the Property to the Company, (a) the sum of Eighty-Six Million Six Hundred Eighty-Five Thousand and No/100 Dollars ($86,685,000) (the "Purchase Price"), which shall be due and payable at Closing as follows:
(a) The sum of Seventy-Six Million Seven Hundred Three and No/100 Dollars ($76,703,000) shall be due and payable in cash or immediately available funds at Closing (the "Cash Payment");
(b) Company shall assume the outstanding principal balances (collectively, the "Assumed Loan Balance") as of the Closing Date (not to exceed the amount of the original principal balances) of, but no accrued and unpaid interest, fees or other charges as of the Closing Date under or relating to, (i) that one certain loan (the "Plaza Assumed Loan") in the original principal amount of $6,000,000.00 from Washington Mortgage Financial Group, Inc. ("Lender") to Oasis Residential, Inc. (predecessor to Contributor) ("Oasis"), such Loan being secured in part by liens on the portion of the Property identified on Exhibit "A" as the Plaza Property and being evidenced in part by a promissory note from Oasis to Lender in the original principal amount of $6,000,000.00 and dated August 11, 1994 (together with any and all other documents securing, evidencing or pertaining to the Plaza Assumed Loan, the "Plaza Assumed Loan Documents"), the outstanding balance of which on the Closing Date is estimated to be $6,000,000.00 and (ii) that one certain loan (the "Landing Assumed Loan") in the original principal amount of $4,095,000.00, from Lender to Oasis, such Loan being secured in part by liens on that portion of the Property identified on "Exhibit A" as the Landing Property and being evidenced in part by a promissory note from Oasis to Lender in the original principal amount of $4,095,000.00 and dated October 22, 1993 (together with any and all other documents securing, evidencing or pertaining to the Landing Assumed Loan, the "Landing Assumed Loan Documents"), the outstanding balance of which on the Closing Date is estimated to be $3,982,000. The Plaza Assumed Loan and the Landing Assumed Loan are hereinafter collectively called the "Assumed Loan" and the Plaza Assumed Loan Documents and the Landing Assumed Loan Documents are hereinafter referred to as the "Assumed Loan Documents". If at Closin...
Consideration for Conveyance. The purchase price for the Property (the "Purchase Price") is Six Million and 00/100 ($6,000,000.00) Dollars. Purchaser shall pay the Purchase Price to Seller on the Closing Date (as defined below), plus or minus all adjustments or credits as set forth herein, by wire transfer of immediately available federal funds. Purchaser shall assume the Seller’s existing loan with Centreville Bank. ▇▇▇▇▇▇ currently has a mortgage loan with Centreville Bank secured by the Property and this transaction is contingent on Centreville Bank releasing Seller and any guarantor from liability thereunder. Purchaser shall be responsible to pay all fees related to the assignment. ▇▇▇▇▇▇▇▇▇ agrees to assume the existing mortgage balance in in the approximate amount of $3,538,825.00 and pay the balance to Seller by wire transfer at the time of delivery of the deed. Interest on the existing loan shall be prorated to the date of closing. Purchaser(s) agrees to assume and reimburse ▇▇▇▇▇▇’s escrow subject to any lender requirements. ▇▇▇▇▇▇ agrees that the loan will be current at the time of closing.
Consideration for Conveyance. Section 2.1.
Consideration for Conveyance. The Purchase Price (herein so called) for the Property is and shall be the sum of Five Hundred Fifteen Thousand Five Hundred Twenty Four and No/100 Dollars ($515,524.00), which shall be due and payable all cash at the Closing (hereinafter defined), plus one-half (1/2) of the principal balance of the Loan (hereinafter defined) on the Closing Date. In addition, Purchaser shall assume the unpaid principal balance of that certain promissory note ("Note") executed by Purchaser and Seller to the lender named therein ("Lender"), secured by that certain mortgage and other loan documents of even date with the Note ("Loan Documents") presently of record and encumbering the Property (collectively, the "Loan"), plus any and all fees and expenses required for the assumption of the Loan.
Consideration for Conveyance. For and in consideration of the conveyance to WSC of the QuickVerse Product Line Assets, WSC shall:
(i) pay to FIND an amount equal to nine hundred seventy-five thousand U.S. dollars (USD$975,000) (the “Purchase Price”) and
(ii) satisfy, if, as and when due, the QuickVerse Product Line Preexisting Customer Obligations (jointly with the Purchase Price, the “Conveyance Consideration”). The Conveyance Consideration shall have a total value for all purposes equal to one million one hundred fifteen thousand U.S. dollars (USD$1,115,000).
Consideration for Conveyance. The Agency shall convey the Property to the County in consideration for the County’s binding obligation to cause the development of the Parcels in accordance with the terms and conditions of the MOA, the Implementation Agreement, the Base Reuse Plan and the Redevelopment Plan, plus the sum of One Dollar ($1.00) per Parcel.
Consideration for Conveyance. SECTION 2.1 The Purchase Price (herein so called) to be paid by Purchaser to Seller for the Property shall be the sum of $60.00 multiplied by the number of square feet contained within the boundaries of the Property as determined by the Survey (as hereinafter defined). The Purchase Price shall be payable in cash or other immediately available funds at Closing (as hereafter defined).
Consideration for Conveyance. Section 3.1 Subject to the terms, conditions and provisions herein contained, Purchaser agrees to pay and assign to Seller, and Seller agrees to accept, as consideration for the conveyance and sale of the Property, (a) the sum of Sixty-Four Million Four Hundred Fifty Thousand and No/100 Dollars ($64,450,000.00) (the "Purchase Price"), which shall be due and payable at Closing in immediately available funds:
Consideration for Conveyance. SECTION 2.1 The Purchase Price (herein so called) to be paid by Purchaser to Seller for the Property shall be $17,000,000.00 payable in cash by certified or wired funds at Closing (as hereafter defined).
Consideration for Conveyance. Section 3.1 Subject to the terms, conditions and provisions herein contained, Purchaser agrees to pay, and Seller agrees to accept, as consideration for the conveyance of the Property, the sum of THIRTY NINE MILLION NINE HUNDRED THOUSAND AND NO/100 Dollars ($39,900,000.00) (the “Purchase Price”), which shall be payable in cash at the Closing.
Section 3.2 As consideration for the conveyance of the Trade Name, Purchaser shall pay to Seller, and Seller agrees to accept, the sum of Ten and No/100 Dollars ($10.00) in cash at Closing. It is expressly agreed that such sum represents that portion of the Purchase Price that is attributable to or paid for the Trade Name.
Section 3.3 On or before two (2) business days after the Effective Date, the amount of TEN AND NO/100 Dollars ($10.00) (“Independent Agreement Consideration”) shall be delivered to Seller, which amount the parties bargained for and agreed to as consideration for Seller’s grant to Purchaser of Purchaser’s exclusive right to purchase the Property pursuant to the terms hereof and for Seller’s execution, delivery and performance of this Agreement. This Independent Agreement Consideration is in addition to and independent of any other consideration or payment provided in this Agreement, is non-refundable under any circumstances, and shall be retained by Seller notwithstanding any other provisions of this Agreement.