Purchase of Interest Clause Samples

Purchase of Interest in mineral property - A natural resource issuer that, in an arm's length transaction, agrees to issue trading shares as consideration for a mineral property or an option on a mineral property, the value of which is not supported by a current valuation opinion, will generally be required to meet the following conditions: (a) The consideration must consist of not more than 200,000 trading shares issuable in no fewer than four blocks, each block consisting of not more than 50,000 trading shares. (b) One block of shares may be issued prior to the date the issuer's shares are listed, posted and called for trading on the Exchange. (c) The remaining blocks of shares may be issued in stages upon the filing with the Exchange of engineering reports, acceptable to the Exchange, recommending further work on the mineral property.

Purchase of Interest. The Optionor hereby sells, transfers and assigns the Optionee fifty percent (50%) interest in the Property for the consideration of 400,000 common shares of Rally Energy Corp. ("Rally") and 400,000 options to purchase common share of Rally, each option exercisable to purchase on 1 common share of Rally for $1.50 until 5:00 p.m., Toronto time on November 22, 2000. Concurrent with the execution of this Option Agreement the Optionor shall deliver to the Optionee a conveyance in proper registrable form in favour of the Optionee of all right, title and interest of the Optionor in the Property, duly executed by the Optionor, to be held in trust by the Optionee for the purposes of this Option Agreement. The Optionee may register or record any such conveyance in its name for such purposes, and the Optionor may register this option agreement or notice of this Option Agreement against title to the property.

Purchase of Interest. Subject to the terms and conditions of this Agreement, the Company hereby agrees to sell to Purchaser, and Purchaser hereby agrees to purchase from the Company, ____________ shares of the Company’s common stock for $_________________. We refer to your shares as the “Shares.”

Purchase of Interest. If the Remaining Members consent to the continuation of the business of the Company, the Company and/or the Remaining Members shall purchase, and the Member whose actions or conduct resulted in the Dissolution Event (“Former Member”) or such Former Member’s legal representative shall sell, the Former Member’s Membership Interest (“Former Member’s Interest”) as provided in this Article VIII to avoid dissolution of the Company.

Purchase of Interest. A. Consideration:

Purchase of Interest. Seller contemporaneously herewith sells, assigns and transfers to Buyer, and Buyer contemporaneously herewith purchases from Seller all of Seller’s right, title and interest in and to the Interest, for aggregate consideration consisting of (i) $182,500,000 in cash (the “Cash Price”) and (ii) 473,707 Buyer Units (the “Equity Consideration” and, together with the Cash Price, the “Purchase Price”).

Purchase of Interest. You hereby agree to purchase three percent (3%) -------------------- of the membership interests in the Company (hereinafter referred to as the "Interest") on the terms and conditions set forth in this letter. You may assign your Interest to the Tenant, as hereinafter defined, provided however, notwithstanding said Assignment, you will personally execute the documents and enter into the agreements described and contemplated in paragraph 4(b) hereof, provided however, we shall use good faith efforts to obtain the consent of any applicable lender to permit Tenant to enter into agreements described and contemplated in paragraph 4(b) hereof instead of you, provided further, that the Tenant shall have a verifiable net worth in excess of Fifty Million Dollars and No Cents ($50,000,000.00) and be acceptable to said lender. The parties shall, within ten (10) days of the execution of this letter, enter into a Purchase and Sale Agreement with respect to the Interests.

Purchase of Interest. The Employer shall not require, as a condition of continued employment, that an employee must purchase or assume any proprietary interest or other obligation in the business.

Purchase of Interest. From the date of the notice as provided in paragraphs 4.03 and 4.04 of this Article IV, or upon the death of a Partner, the terminated, with drawing or deceased Partner shall be considered a vendor to the Partnership of his interest in the Partnership at a price equal to his percentage ownership of the Established Value, as determined pursuant to paragraph 4.06, minus fifteen percent (15%). The fifteen percent (15%) discount utilized herein is agreeable to all of the Partners as their reasonable estimate of the cost of borrowing money, additional legal and accounting fees, and a margin of error in the determination of the Established Value because of the forced sale nature of the transaction, and is not construed and is not to be construed by the parties as a penalty. Within forty-five (45) days of the remaining Partners' election to purchase the interest of a terminated, withdrawing or deceased Partner's interest, each Partner shall deliver to the terminated or withdrawing Partner, or the estate of a deceased Partner his pro rata portion of the purchase price as follows: (a) Twenty-five percent (25%) in cash; and (b) The balance of the purchase price shall be represented by a promissory note providing for equal monthly installments of principal and interest (interest at seven and one-half percent (7.5%) simple) over a period of five (5) years.