Carryback Financing Sample Clauses
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Carryback Financing. This Note represents payment obligations of Makers under the Purchase Agreement for Real and Personal Property, dated March 28, 2002, between Payee, as seller and Makers, as buyer, and is subject to the terms of such agreement.
Carryback Financing. The Purchase Price less the Closing Date Payment shall be paid pursuant to the terms and conditions set forth in a promissory note, with interest accruing on the unpaid principal balance due at the lowest applicable federal rate of interest, as published by the Internal Revenue Service for the month in which closing takes place (the “Promissory Note”). The Promissory Note shall be substantially similar to the form attached hereto as Exhibit B and shall be secured by: (A) a first priority Deed of Trust recorded against the Real Property (the “Deed of Trust”) which shall be substantially similar to the form attached hereto as Exhibit “C”; and (B) a purchase- money security interest granted by Purchaser to Seller pursuant to the terms and conditions set forth in a security agreement (the “Security Agreement”), which shall be substantially similar to the form attached hereto as Exhibit C-1.