Common use of Purchase Guarantee Clause in Contracts

Purchase Guarantee. 51.2.1 ▇▇▇▇▇ Power will provide a Purchase Guarantee based on an appraisal of the property's current worth by a group of up to three appraisers, to be selected by the ▇▇▇▇▇ Power in conjunction with the employee. 51.2.2 ▇▇▇▇▇ Power will not request appraisals until the employee is ready to list his/her house in the marketplace providing this is within one year of the employee's transfer to the new work location and the employee is prepared to abide by Subsection 51.2.4 and Subsection 51.3.1. 51.2.3 The employee must acknowledge acceptance or rejection of ▇▇▇▇▇ Power's Purchase Guarantee within five days of its receipt. If the employee rejects the Purchase Guarantee, ▇▇▇▇▇ Power has no further responsibility with regard to Housing Assistance or the Purchase Guarantee. 51.2.4 If the employee wishes to participate in the Housing Assistance Plan, the employee must not list the property for sale until the Purchase Guarantee has been accepted.