Common use of Purchase Price Payment Allocation Clause in Contracts

Purchase Price Payment Allocation. The purchase price for the Purchased Assets shall be One Million Two Hundred Thousand Dollars ($1,200,000.00) (the “Purchase Price”). The Purchase Price shall be paid in full at the Closing by wire transfer to an account designated by Seller. The Purchase Price will be allocated, for tax purposes, among the Purchased Assets as follows: Brand (trademark, logo) $ 138,400 Patents $ 52,200 Drawings, Intellectual Prop. $ 140,000 Goodwill and other intangibles $ 869,400 Total $ 1,200,000