Common use of PAYMENT UPON CLOSING Clause in Contracts

PAYMENT UPON CLOSING. At the option of HNEF, all of the purchase price or an amount equal to the greater of a) twenty percent (20%) of the purchase price; b) Fifty Thousand Dollars (U.S. $50,000); or c) one hundred percent (100%) (but not to exceed the entire purchase price) of all proceeds from life insurance policies, if any, on the life of Fitch payable to HNEF by reason of the death of Fitch, shall then be paid in cash.

PAYMENT UPON CLOSING. At the option of HNEF, all of the purchase price or an amount equal to the greater of: a) twenty percent (20%) of the purchase price; b) Fifty Thousand Dollars (U.S. $50,000); or c) one hundred percent (100%) (but not to exceed the entire purchase price) of all proceeds from life insurance policies, if any, on the life of Fitch payable to HNEF by reason of the death of Fitch, shall then be paid in cash.