Allocated Purchase Price definition
Examples of Allocated Purchase Price in a sentence
The balance of the Allocated Purchase Price for each Property (as adjusted for prorations, credits, and reimbursements as set forth in this Contract or as otherwise adjusted pursuant to Section 2.2.6) shall be paid to and received by Escrow Agent by wire transfer of Good Funds no later than 4:00 p.m. (Eastern Day-Light time) on the applicable Closing Date.
In consideration of certain capital repair items at the Property, Purchaser shall receive a credit of One Hundred Thousand and No/100 Dollars ($100,00.00) (the “Repair Credit”) at the Initial Closing Date, which Repair Credit may be allocated against the Allocated Purchase Price of any Property as elected by Purchaser.
Purchaser shall receive a credit against the Allocated Purchase Price for the Assumption Property in the amount of the outstanding principal balance of the Note, together with all accrued but unpaid interest (if any) thereon, as of the Closing Date (the “Loan Balance”).
In the event of an Assumption Rejection, Purchaser shall receive a credit of Two Million and No/100 Dollars ($2,000,000.00) toward the Allocated Purchase Price for the Assumption Property.
For purposes of this Section 11.1, all references to “Allocated Purchase Price” shall be deemed to mean the Allocated Purchase Price set forth on the Seller Information Schedule without giving effect to any Allocation Adjustment.