Common use of Sale and Purchase of Interest Clause in Contracts

Sale and Purchase of Interest. (a) Subject to the terms and conditions of this Agreement, the Buyer shall purchase from the Seller and the Seller shall sell to the Buyer, the Target Interest for the purchase price of one million dollars (US $1,000,000) (the "Purchase Price"), payable as provided in Section 1(b) below. (b) The Purchase Price shall be payable as follows: Buyer shall make payment in cash, in an amount of Purchase Price to Seller at the Closing (as defined below) by wire transfer in immediately available funds to an account designated by Seller in Schedule 1(b). (c) The closing of the transactions contemplated by this Agreement (the "Closing") shall take place by exchange of documents, at the offices of ▇▇▇▇▇▇▇▇▇▇ & ▇▇▇▇▇ LLP, ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇., ▇.▇., ▇▇▇▇▇▇▇▇▇▇ ▇.▇, ▇▇▇▇▇, at 10:00 a.m. on the date of this Agreement which is contemplated to be on or before June 30, 2003 or such other date and place as the Buyer and the Seller may mutually determine (the "Closing Date"). (d) At the Closing, (i) the Seller will deliver to the Buyer the various certificates, instruments, and documents required to be delivered under Section 11(a) of this Agreement and (ii) the Buyer will deliver to the Seller the various certificates, instruments and documents required to be delivered under Section 11(b) of this Agreement and shall pay the consideration specified in Section 1(b) above.

Sale and Purchase of Interest. (a) Subject to the terms and conditions of this Agreement, the Buyer shall purchase from the Seller and the Seller shall sell to the Buyer, the Target Interest for the purchase price of one million hundred and fifty thousand dollars (US $1,000,000150,000) (the "Purchase Price"), payable as provided in Section 1(b) below. (b) The Purchase Price shall be payable as follows: Buyer shall make payment in cash, in an amount of Purchase Price to Seller at the Closing (as defined below) by wire transfer in immediately available funds to an account designated by Seller in Schedule 1(b). (c) The closing of the transactions contemplated by this Agreement (the "Closing") shall take place by exchange of documents, at the offices of ▇▇▇▇▇▇▇▇▇▇ & ▇▇▇▇▇ LLP, ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇., ▇.▇., ▇▇▇▇▇▇▇▇▇▇ ▇.▇, ▇▇▇▇▇, at 10:00 a.m. on the date of this Agreement which is contemplated to be on or before June 30, 2003 or such other date and place as the Buyer and the Seller may mutually determine (the "Closing Date"). (d) At the Closing, (i) the Seller will deliver to the Buyer the various certificates, instruments, and documents required to be delivered under Section 11(a) of this Agreement and (ii) the Buyer will deliver to the Seller the various certificates, instruments and documents required to be delivered under Section 11(b) of this Agreement and shall pay the consideration specified in Section 1(b) above.