Buyers Consideration Clause Samples
The Buyer's Consideration clause defines the payment or value that the buyer agrees to provide in exchange for the goods, services, or assets specified in the contract. Typically, this clause outlines the amount, form (such as cash, shares, or other assets), and timing of the consideration, and may also address any conditions or adjustments related to the payment. By clearly specifying what the buyer must deliver and when, this clause ensures both parties understand their financial obligations and helps prevent disputes over payment terms.
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Buyers Consideration. As consideration for the Transactions, the Buyer shall pay $150,000 as consideration for the Purchased Assets and $150,000 as consideration for the Sharp Stock and the Sharp Warrants. The Buyer shall pay and deliver the consideration to the Seller (the "Buyer's Consideration") as follows:
(i) $120,000 in cash, cashier's check, or wire transfer at the Closing, or by the cancellation and voiding of indebtedness of the Seller to F▇▇▇▇ ▇▇▇ (the Manager of the Buyer) as evidenced by that certain promissory note dated April 2, 2003 between the Seller and F▇▇▇▇ ▇▇▇ (the "Existing Note"), in a manner satisfactory to the Seller; and
(ii) Six installments of $30,000 each, payable on the first of each month beginning June 1, 2003 as evidenced by a promissory note whose maker shall be the Buyer (the "New Note")in a form satisfactory to the Seller. The New Note shall be secured (the "Security Agreement") by the Purchased Assets and all source code related thereto. The New Note and the Security Agreement shall be in the form set forth in Exhibit 2.1(ii) hereto.
Buyers Consideration