Common use of Purchase and Sale of the Asset Clause in Contracts

Purchase and Sale of the Asset. Subject to the terms and conditions of this CONTRACT, the PROPERTY, more specifically described in Section IV, will be transferred and conveyed to BUYER, and BUYER agrees to accept the PROPERTY from COMPANY. ▇▇▇▇▇ agrees to remove the PROPERTY by . For PROPERTY located on a COMPANY WORKSITE, COMPANY hereby grants a temporary licence to BUYER for entry onto COMPANY’s premises in (Asset Location City/State) solely for these purposes. The activities of the BUYER or its SUBCONTRACTORS in performance of the CONTRACT will be performed in accordance with Section III. COMPANY agrees to execute and deliver to BUYER the BILL OF SALE, set out in Section IV. If the PROPERTY is lost or destroyed or otherwise becomes unavailable prior to completion of removal, whether or not due to the negligence or fault of COMPANY or otherwise, then COMPANY will be under no obligation to transfer the PROPERTY to BUYER. COMPANY reserves the right to remove any portion of the PROPERTY from the scope of the CONTRACT prior to pick up by BUYER. COMPANY will promptly notify BUYER of COMPANY’s action and will reimburse BUYER for the portion of the sale price of the PROPERTY reasonably determined by COMPANY to be attributable to the portion of the PROPERTY removed.

Purchase and Sale of the Asset. Subject to the terms and conditions of this CONTRACT, the PROPERTY, more specifically described in Section IV, will be transferred and conveyed to BUYER, and BUYER agrees to accept the PROPERTY from COMPANY. ▇▇▇▇▇ BUYER agrees to remove the PROPERTY by (Removal Date). For PROPERTY located on a COMPANY WORKSITE, COMPANY hereby grants a temporary licence to BUYER for entry onto COMPANY’s premises in (Asset Location CityN/State) A solely for these purposes. The activities of the BUYER or its SUBCONTRACTORS in performance of the CONTRACT will be performed in accordance with Section III. COMPANY agrees to execute and deliver to BUYER the BILL ▇▇▇▇ OF SALE, set out in Section IV. If the PROPERTY is lost or destroyed or otherwise becomes unavailable prior to completion of removal, whether or not due to the negligence or fault of COMPANY or otherwise, then COMPANY will be under no obligation to transfer the PROPERTY to BUYER. COMPANY reserves the right to remove any portion of the PROPERTY from the scope of the CONTRACT prior to pick up by BUYER. COMPANY will promptly notify BUYER of COMPANY’s action and will reimburse BUYER for the portion of the sale price of the PROPERTY reasonably determined by COMPANY to be attributable to the portion of the PROPERTY removed.