Common use of Offset of Purchase Price Clause in Contracts

Offset of Purchase Price. Seller hereby agrees to offset from the cash portion of the Purchase Price as set forth in Section 1.2(a) above, $100,000 (“Amount of Offset”) which represents an escrow deposit previously paid by Buyer to Seller in accordance with paragraph 1.a. of the Memorandum of Understanding dated September 23, 2009 (“Memorandum of Understanding”), a copy of which is attached hereto.

Offset of Purchase Price. Seller hereby agrees to offset from the cash portion of the Purchase Price as set forth in Section 1.2(a) above, $100,000 701,711.30 (“Amount of Offset”) which represents an escrow deposit previously paid by Buyer the portion of Expenses related to Seller in accordance with paragraph 1.a. his 49% ownership of the Memorandum of Understanding dated September 23, 2009 (“Memorandum of Understanding”), a copy of which is attached heretoCompany.