Common use of Purchase Price and Closing Date Clause in Contracts

Purchase Price and Closing Date. The purchase price for the Assets shall be two million seventy three thousand two hundred eighty one and no cents ($2,073,281.00). The purchase price shall be payable, at BUYER's option, entirely in cash at closing; or by a combination of cash and BUYER's common stock, as follows: one million three hundred and fifty nine thousand thirty six dollars and no cents ($1,359,036.00) in cash at closing and four hundred forty six thousand four hundred three (446,403) shares of BUYER's common stock valued at $1.60 per share. PROVIDED HOWEVER, notwithstanding the foregoing, all of BUYER's obligations under this Agreement are contingent upon the approval of the issuance of additional shares of BUYER's common stock at its annual shareholder's meeting to be held on January 25, 2000. Should such authorization not be received, BUYER, at its option, may elect to pay the entire purchase price in cash at closing. The sale shall be completed at the offices of the attorneys for BUYER or a place to be mutually agreed upon by BUYER and SELLER, on or before thirty (30) days from the date of the execution of this agreement by both BUYER and SELLER (the "Closing Date"). At the closing, SELLER shall deliver to BUYER a fully executed assignment and conveyance in the form attached hereto as Exhibit "F." The purchase price, or cash portion of the purchase price, as the case may be, shall be paid to SELLER by cashier's check or wire transfer, at BUYER's option, as of the Closing Date.

Purchase Price and Closing Date. The purchase price for the Assets shall be two one million seventy three thousand two five hundred eighty one eight thousand forty four dollars and no cents ($2,073,281.001,588,044.00). The purchase price shall be payable, at BUYER's option, entirely in cash at closing; or by a combination of cash and BUYER's common stock, as follows: one million three forty thousand nine hundred and fifty nine thousand thirty six sixty four dollars and no cents ($1,359,036.001,040,964.00) in cash at closing and four three hundred forty six one thousand four nine hundred three twenty five (446,403341,925) shares of BUYER's common stock valued at $1.60 per share. PROVIDED HOWEVER, notwithstanding the foregoing, all of BUYER's obligations under this Agreement are contingent upon the approval of the issuance of additional shares of BUYER's common stock at its annual shareholder's meeting to be held on January 25, 2000. Should such authorization not be received, BUYER, at its option, may elect to pay the entire purchase price in cash at closing. The sale shall be completed at the offices of the attorneys for BUYER or a place to be mutually agreed upon by BUYER and SELLER, on or before thirty (30) days from the date of the execution of this agreement by both BUYER and SELLER (the "Closing Date"). At the closing, SELLER shall deliver to BUYER a fully executed assignment and conveyance in the form attached hereto as Exhibit "F." The purchase price, or cash portion of the purchase price, as the case may be, shall be paid to SELLER by cashier's check or wire transfer, at BUYER's option, as of the Closing Date.