Payment by Purchaser Sample Clauses
The 'Payment by Purchaser' clause defines the obligation of the buyer to pay the agreed-upon amount for goods or services provided under the contract. It typically outlines the payment terms, such as due dates, acceptable payment methods, and any consequences for late payment, like interest charges or penalties. This clause ensures that the seller receives timely compensation and provides clear expectations for the purchaser, thereby reducing the risk of payment disputes and supporting smooth commercial transactions.
Payment by Purchaser. All purchaser’s checks shall be made payable to Auctioneer, as Consignor’s agent. Auctioneer shall have full authority to reclaim and resell any items not paid for. Auctioneer reserves the right to eliminate from settlement any property for which payment has not been made. In consideration for the waiver of Auctioneer’s commission on such property for which payment has not been made, Consignor agrees to accept responsibility for reclaiming same wherever located.
Payment by Purchaser. (a) At the Closing, Purchaser will pay to Seller the purchase price for the Subject Assets, as follows:
(i) The sum of Two Million Five Hundred Thousand Dollars ($2,500,000) plus the amount equal to the Shareholders' collective income tax liability for the prior fiscal year and the current fiscal year resulting from Seller's operation of the Business prior to the Closing (the "Shareholders' Tax Liability") estimated to be approximately Two Hundred Fifty-One Thousand Dollars ($251,000) (the "Cash Purchase Price") by certified or bank check in immediately available funds or by wire transfer to an account designated by Seller, provided, however, that if prior to the Closing Date, (A) Seller elects to pay down the Neville Note as permitted by Section 10.1(g)(ii) of this Agreement, and/or (B) Seller makes a distribution to the Shareholders in accordance with Section 10.1(f) of this Agreement, then the Cash Purchase Price will be reduced by the aggregate amount of such pay down and/or distribution, as the case may be, and, provided, further, that if the amount of the Shareholders' Tax Liability is not known on the Closing Date, then it shall be deemed to be Two Hundred Fifty-One Thousand Dollars ($251,000) for purposes of payment of the Cash Purchase Price at the Closing (the "Estimated Amount") and after the Closing, the Shareholders shall provide evidence of the actual amount of the Shareholders' Tax Liability and the difference between the actual amount of the Shareholders' Tax Liability and the Estimated Amount promptly shall be paid by Purchaser to Seller if the actual amount of the Shareholders' Tax Liability is greater than the Estimated Amount or by Seller to Purchaser if the actual amount of the Shareholders' Tax Liability is less than the Estimated Amount.
(ii) Purchaser will issue to Seller its convertible subordinated promissory note (the "Convertible Subordinated Promissory Note") in the form of Exhibit "A" to this Agreement, dated as of the Closing Date and payable to Seller in the principal amount of Two Million Dollars ($2,000,000). The Convertible Subordinated Promissory Note will be convertible into shares of common stock of Waterlink, as provided for therein, and will be guaranteed by Waterlink in accordance with Article XII of this Agreement.
(iii) Purchaser will issue to Seller its subordinated promissory note (the "Subordinated Promissory Note") in the form of Exhibit "B" to this Agreement, dated as of the Closing Date and payable to Seller...
Payment by Purchaser. In the event that the amount of the Final Working Capital is greater than the Target Working Capital, then Purchaser shall, within five (5) calendar days after the determination thereof, pay to Sellers an amount equal to such difference, by wire transfer of immediately available funds to an account designated in writing by Sellers.
Payment by Purchaser. ▇▇▇▇’▇ obligations under this Warranty are conditioned upon payment in full for the Products. If a default in payment occurs, the Products are sold AS IS, WITH ALL FAULTS, and without any warranty express or implied. Any delay in payment shall not toll the running of the applicable Warranty Period.
Payment by Purchaser. Except as provided in the foregoing Paragraph (a), the Note Purchaser shall pay the cost of all regulatory expenses incurred by the Note Purchaser in connection with its purchase of the Note.
Payment by Purchaser. Subject to Section 10.6, if this Agreement is terminated pursuant to Section 10.1(g) because the condition set out in Section 9.1(a) is not met (due to no failure of the Vendor), or because the Purchaser has failed to satisfy the condition set out in Section 9.3(a)(ii), 9.3(b), 9.3(d), 9.3(g), 9.3(k), 9.3(m) or, to the extent that the failure to satisfy the condition is not a result of a Material Adverse Change, 9.3(1), then the Purchaser shall pay to the Vendor a fee of $500,000 and the Vendor's Expenses incurred subsequent to September 16, 1997 (by wire transfer in immediately available funds) within 15 Business Days after delivery of the notice contemplated in Section 10.1.
Payment by Purchaser. Upon compliance by the Vendor with the provisions of clause 6.2, the Purchaser shall comply with the provisions of clause 4.1 and 4.2 and have signed the Licences, in duplicate.
Payment by Purchaser. Upon the terms and subject to the conditions contained herein and in payment for the aforesaid sale and transfer of the Purchased Stock by the Company to Purchaser, Purchaser shall deliver or cause to be delivered at the Closing to the Company, by wire transfer or other means reasonably acceptable to the Company, an aggregate sum in cash equal to $14.50 per share, or $16,675,000 (the “Purchase Price Amount”).
Payment by Purchaser. In addition to the payment of the royalties described in Section 6 below, Purchaser shall pay Seller the sum of Eight Hundred Thousand Dollars (U.S. $800,000.00) by wire transfer to the account as described below, or as otherwise directed by Seller in writing to Purchaser. Purchaser shall make such payment no later than 5:00 p.m. Eastern Daylight Time on the twenty-fifth (25th) day following the full execution of this Amendment. Any payment not received from Purchaser by the due date may accrue, at Seller’ discretion, late charges at the rate of 1.5% of the outstanding balance per month, or at the maximum rate permitted by law, whichever is lower, from the date such payment was due until the date paid. Account Name: Silicon Graphics, Inc. Account Number: XXXXXXXX Bank Name: W▇▇▇▇ Fargo Bank Address: San Francisco, CA Bank ABA: 1▇▇▇▇▇▇▇▇
Payment by Purchaser. Purchaser shall pay for approved Mortgage Loans in accordance with the deadlines and procedures set forth in Purchaser’s Guidelines. A copy of the current version of the Purchaser’s Guidelines is attached hereto and made a part hereof as Exhibit A. Purchaser shall be relieved of any obligation to purchase any Mortgage Loan which upon delivery, does not meet the requirements of this Agreement.