Common use of Sale and Purchase of Interest Clause in Contracts

Sale and Purchase of Interest. (a) On the terms and subject to the conditions contained in this Agreement, the Parent agrees to sell, and the Acquiror agrees to purchase, the Interest. The consideration to be paid by the Acquiror for the Interest shall be allocated among the Subject Companies pursuant to the further provisions of this Article II. (b) [In connection with the execution and delivery of this Agreement, the Acquiror has delivered to the Parent a letter of credit in the amount of $ payable to the Parent on the terms set forth therein.]