Closing and Terms Sample Clauses

Closing and Terms. The closing of the sale shall take place within sixty (60) days after the date of the determination of the purchase price, and the time and place of the closing shall be designated by the Buyer within the first thirty (30) days of the 60-day period and the purchase price shall be payable upon terms and conditions agreed to between the Buyer and the Seller, or in the event the Buyer and the Seller are unable to agree, then as follows: (1) ten percent (10%) of the total purchase price shall be paid by the Buyer to the Seller in cash at the closing, and (2) the remaining portion of the purchase price shall be evidenced by a promissory note given by the Buyer in favor of the Seller, which promissory note shall bear interest on the unpaid principal balance at the Prime Rate and require up to five (5) equal payments of principal plus all accrued and unpaid interest thereon with the first payment being due on the first anniversary date of the closing date and each succeeding payment being due on each succeeding anniversary date of the closing date until the final payment is made on the fifth anniversary date of the closing date; provided, however, that the Buyer may prepay the promissory note at any time without penalty. The unpaid principal balance and unpaid interest on the promissory note at maturity shall be paid in cash.
Sample 1
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Closing and Terms. The closing of the sale shall take place within sixty (60) days after the date of the determination of the purchase price, and the time and place of the closing shall be designated by Xxxxxx Xxx within the first thirty (30) days of the sixty (60) day period and the purchase price shall be payable in cash.
Sample 1
Closing and Terms. The closing of such sale shall take place within 60 days after the date the Seller receives notice of the Buyer(s) election to purchase. The time and place of the closing shall be designated by the Buyer(s) within the first 30 days of said 60 day period, and the purchase price shall be payable upon terms and conditions agreed to between the Buyer(s) and the Seller, or if the Buyer(s) and the Seller are unable to agree, then as follows: (i) 25% of the total purchase price shall be paid by the Buyer(s) to the Seller in cash at the closing and (ii) the remaining portion of the purchase price shall be evidenced by a promissory note(s) given by the Buyer(s) in favor of the Seller, which promissory note(s) shall bear interest on the unpaid principal balance at the General Interest Rate and require three equal payments of principal plus all accrued and unpaid interest thereon with payment being due on the first, second and third anniversary dates, respectively, of the closing date. Each party shall bear its own legal and accounting fees, if any. At least five business days before the closing, the Seller shall deliver all appropriate documents of transfer in form satisfactory for execution at the closing. The purchase price hereunder may be funded by insurance or otherwise.
Sample 1
Closing and Terms. (a) If the purchase price for the Issued Shares purchased by Company in accordance with Section 5 or 6 is less than $35,000, it shall be paid in one installment. If it is greater than $175,000, it shall be paid in five equal annual installments. If the total purchase price is greater than $35,000 but less than $175,000, the purchase price will be paid in consecutive annual installments of $35,000 until the unpaid balance of the purchase price is less than $35,000, and a final annual installment equal to the unpaid balance of the purchase price shall be payable thereafter. The first installment of the purchase price shall be paid by Company at the closing, as hereinafter provided, and subsequent annual installments, if any, shall be due on the successive anniversary dates of the closing. Interest shall accrue from the date of the closing on the balance of the purchase price remaining unpaid from time to time at the prime rate published in the Eastern edition of the Wall Street Journal, and accrued interest shall be payable together with each annual installment of the purchase price. The interest rate shall be set as of the closing date and adjusted prospectively thereafter on the first day of each following calendar quarter. The Company shall be entitled to prepay all or any part of the purchase price without penalty or premium.
Sample 1
Closing and Terms. The amount of the purchase price for the Seller’s Purchase Interest (unless otherwise agreed upon by the Seller and Buyer within thirty (30) days after Buyer’s notice to Seller) shall be an amount equal to the amount which the Seller would have received had the Business and the Assets of the Company been sold at a price equal to the fair market value of the Business and Assets, less all debts of the Company to third parties and the Members (including without limitation amounts owing pursuant to the Management Agreement, and any reasonable closing costs which would be associated with such a sale if such property were sold) and the proceeds of such sale had been distributed pursuant to Section 9. The fair market value of the Business and Assets shall be determined as of the date Seller receives notice of Buyer’s election to purchase and in accordance with sub-Section 15(b). The closing of such sale shall take place within sixty (60) days after the date of the first exercise of the Purchase Option. The time and place of the closing shall be designated by the Buyer within the first thirty (30) days of said sixty (60) day period, and the purchase price shall be payable in cash at the closing. At Buyer’s election, the purchase price may be paid 50% at Closing with the balance in two equal annual installments with 5% interest on the defeased portion of the purchase price.
Sample 1

Related to Closing and Terms

  • Form, Dating and Terms (a) The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited. The Initial Notes issued on the date hereof will be in an aggregate principal amount of $600,000,000. In addition, the Issuer may issue, from time to time in accordance with the provisions of this Indenture, Additional Notes (as provided herein). Furthermore, Notes may be authenticated and delivered upon registration of transfer, exchange or in lieu of, other Notes pursuant to Sections 2.2, 2.6, 2.8, 2.10, 5.5 or 9.5, in connection with an Asset Disposition Offer pursuant to Section 3.5 or in connection with a Change of Control Offer pursuant to Section 3.9. Notwithstanding anything to the contrary contained herein, the Issuer may not issue any Additional Notes, unless such issuance is in compliance with Section 3.2. With respect to any Additional Notes, the Issuer shall set forth in (i) an Officer’s Certificate and (ii) one or more indentures supplemental hereto, the following information:

  • Closing and Termination 26 4.1 Closing Date.........................................................................26

  • Purchase Price and Terms The Buyer agrees to purchase the Property by payment of $ ( Dollars) as follows: (check one) ☐ - All Cash Offer. No loan or financing of any kind is required in order to purchase the Property. Buyer shall provide Seller written third (3rd) party documentation verifying sufficient funds to close no later than , 20 at : ☐ AM ☐ PM. Seller shall have three (3) business days after the receipt of such documentation to notify Buyer, in writing, if the verification of funds is not acceptable. If Buyer fails to provide such documentation, or if Seller finds such verification of funds is not acceptable, Seller may terminate this Agreement. Failure of Seller to provide Buyer written notice of objection to such verification shall be considered acceptance of verification of funds.

  • Title and Terms; Payments The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture (the “Initial Notes”) is initially limited to $350,000,000, except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of, other Notes pursuant to Sections 2.05, 2.06, 2.09, 2.11, or 3.07. The Company may, from time to time after the execution of this Indenture, execute and deliver to the Trustee for authentication Additional Notes of an unlimited aggregate principal amount, and the Trustee shall thereupon authenticate and deliver said Additional Notes to or upon receipt of a Company Order, without any further action by the Company hereunder; provided, however, that (1) if any such Additional Notes are not fungible with the Initial Notes for U.S. federal income tax purposes, any such Additional Notes will have a separate CUSIP number for so long as they remain not fungible; (2) such Additional Notes must be issued pursuant to the same terms (other than the date of issuance for such Notes and, if applicable in accordance with Section 2.14, the date from which interest will initially accrue and the date of the first interest payment) as the Initial Notes; (3) the Trustee must receive an Officer’s Certificate to the effect that such issuance of Additional Notes complies with the provisions of this Indenture, including each provision of this paragraph and all conditions precedent to the issuance and authentication of such Additional Notes have been satisfied; and (4) the Trustee must receive an Opinion of Counsel which shall state (a) that the form of such Additional Notes has been established by a supplemental indenture or pursuant to the Board Resolutions in accordance with this Section 2.01 and Section 2.04 and in conformity with the provisions of this Indenture; (b) that the terms of such Additional Notes have been established in accordance with this Section 2.01 and in conformity with the other provisions of this Indenture and all conditions precedent to the issuance and authentication of such Additional Notes have been satisfied; and (c) that such Additional Notes have been duly authorized, executed and delivered by the Company and, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms, subject to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting the enforcement of creditors’ rights and to general equity principles. The Notes shall be known and designated as the “2.25% Convertible Senior Notes due 2020” of the Company. The principal amount shall be payable on the Maturity Date unless no longer Outstanding because earlier purchased or converted in accordance with this Indenture. The principal amount of Physical Notes shall be payable in U.S. dollars at the Corporate Trust Office and at any other office or agency maintained by the Company for such purpose. Interest on Physical Notes will be payable (i) to Holders holding Physical Notes having an aggregate principal amount of $1,000,000 or less of Notes, by check mailed to such Holders at the address set forth in the Register and (ii) to Holders holding Physical Notes having an aggregate principal amount of more than $1,000,000 of Notes, either by check mailed to such Holders or, upon written application by a Holder to the Company and Registrar at least three Business Days prior to the relevant Interest Payment Date, by wire transfer in immediately available funds to such Holder’s account within the U.S., which application shall remain in effect until the Holder notifies the Registrar to the contrary in writing. The Company will pay or cause the Trustee or Paying Agent to pay principal of, and interest on, Global Notes in U.S. dollars and in immediately available funds to the Depositary or its nominee, as the case may be, as the registered Holder of such Global Note, on each Interest Payment Date, Fundamental Change Purchase Date, the Maturity Date or other payment date, as the case may be.

  • Definitions and Terms Section 1.1

  • Transactions and Terms of Merger 2 1.1 Merger..................................................................... 2 1.2 Time and Place of Closing.................................................. 2 1.3

  • Amounts and Terms of the Purchases Section 1.1.

  • Acceptance and Term The Company agrees to employ Employee, and Employee agrees to serve the Company, on the terms and conditions set forth herein. The Term of this Agreement shall commence on the Effective Date and continue thereafter until terminated in accordance with, and subject to the provisions of, Section 8 hereof.

  • Title and Terms The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is limited to $150,000,000, except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities pursuant to Section 304, 305, 306, 307, 906 or 1108. The Securities shall be known and designated as the "-% Senior Notes due 2008" of the Issuer. Their Stated Maturity shall be -, 2008 and they shall bear interest at the rate of -% per annum, from -, 1998 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, payable semi-annually on - and -, commencing -, 1998, until the principal thereof is paid or made available for payment. The principal of (and premium, if any) and interest on the Securities shall be payable at the office or agency of the Issuer in the Borough of Manhattan, The City of New York, New York, maintained for such purpose and at any other office or agency maintained by the Issuer for such purpose; PROVIDED, HOWEVER, that at the option of the Issuer payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register; PROVIDED, FURTHER, that all payments of the principal of (and premium, if any) and interest on Securities, the Permitted Holders of which have given wire transfer instructions to the Issuer or its agent at least 10 Business Days prior to the applicable payment date, will be required to be made by wire transfer of immediately available funds to the accounts specified by such Permitted Holders in such instructions. Notwithstanding the foregoing, payment of any amount payable in respect of a Global Security will be made in accordance with the applicable procedures of the Depositary. The Securities shall be redeemable as provided in Article Eleven. The Securities shall not have the benefit of any sinking fund obligations. The Securities shall be subject to defeasance at the option of the Issuer as provided in Article Twelve. The Securities shall be Guaranteed by the Guarantor as provided in Article Thirteen.

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