Common use of USE OF PURCHASE PRICE Clause in Contracts

USE OF PURCHASE PRICE. Seller hereby acknowledges that it fully understands that: (i) Buyer’s ability to collect the Purchased Amount (or any portion thereof) is contingent upon Seller’s continued operation of its business and successful generation of the Future Receipts until the Purchased Amount is delivered to Buyer in full; and (ii) that in the event of decreased efficiency or total failure of Seller’s business, Buyer’s receipt of the full or any portion of the Purchased Amount may be delayed indefinitely. Based upon the forgoing, Seller agrees to use the Purchase Price exclusively for the benefit and advancement of Seller’s business operations and for no other purpose.

Appears in 4 contracts

Sources: Future Receipts Sale and Purchase Agreement (Clearday, Inc.), Future Receipts Sale and Purchase Agreement (Clearday, Inc.), Future Receipts Sale and Purchase Agreement (Clearday, Inc.)

USE OF PURCHASE PRICE. Seller hereby acknowledges that it fully understands that: (i) Buyer’s ability to collect the Purchased Amount (or any portion thereof) is contingent upon Seller’s continued operation of its business and successful generation of the Future Receipts until the Purchased Amount is delivered to Buyer in full; and (ii) that in the event of decreased efficiency or total failure of Seller’s business, Buyer’s receipt of the full or any portion of the Purchased Amount may be delayed indefinitely. Based upon the forgoing, Seller ▇▇▇▇▇▇ agrees to use the Purchase Price exclusively for the benefit and advancement of Seller’s business operations and for no other purpose.

Appears in 2 contracts

Sources: Purchase Agreement, Future Receipts Sale and Purchase Agreement (Cannabis Bioscience International Holdings, Inc.)

USE OF PURCHASE PRICE. Seller hereby acknowledges that it fully understands that: (i) Buyer’s ability to collect the Purchased Amount (or any portion thereof) is contingent upon Seller’s continued operation of its business and successful generation of the Future Receipts until the Purchased Amount is delivered to Buyer in full; and (ii) that in the event of decreased efficiency or total failure of Seller’s business, Buyer’s receipt of the full or any portion of the Purchased Amount may be delayed indefinitely. Based upon the forgoing, Seller S▇▇▇▇▇ agrees to use the Purchase Price exclusively for the benefit and advancement of Seller’s business operations and for no other purpose.

Appears in 1 contract

Sources: Future Receipts Sale and Purchase Agreement (First Person Ltd.)

USE OF PURCHASE PRICE. Seller hereby acknowledges that it fully understands that: (i) Buyer’s ability to collect the Purchased Amount (or any portion thereof) is contingent upon Seller’s continued operation of its business and successful generation of the Future Receipts until the Purchased Amount is delivered to Buyer in full; and (ii) that in the event of decreased efficiency or total failure of Seller’s business, business Buyer’s receipt of the full or any portion of the Purchased Amount may be delayed indefinitely. Based upon the forgoingforegoing, Seller ▇▇▇▇▇▇ agrees to use the Purchase Price exclusively for the benefit and advancement of Seller’s business operations and for no other purpose.

Appears in 1 contract

Sources: Future Receivables Sale and Purchase Agreement (Cannabis Bioscience International Holdings, Inc.)