Common use of Reduction of Purchase Price Clause in Contracts

Reduction of Purchase Price. (a) (i) In the event any of the representations and warranties of the Company specified in Section 5.3(b) are not true as of the Closing and such condition is not waived by Buyer, and except for the items listed on Schedule 3.3(a), and as otherwise provided in 3.3(a)(Iv) and (v), the Purchase Price shall be reduced to the extent the cost to repair or replace any defective, damaged, malfunctioning or missing items included in the Sale Assets exceeds, in the aggregate, $50,000. Provided however that in no event shall the reduction in purchase price hereunder exceed $250,000, unless otherwise agreed to in writing by Company and Buyer.