CONSIDERATION PAYABLE Clause Samples
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CONSIDERATION PAYABLE. 5.1 The PURCHASER shall on DATE OF SIGNATURE HEREOF pay to the SELLER the amount stipulated in 1.5 of the SCHEDULE as payment for the Right of Pre-Emption granted by the SELLER to the PURCHASER.
5.2 The amount shall immediately be paid directly into the banking account as set out in clause 4 of the SCHEDULE.
5.3 Such amount shall be deemed to be a non-refundable PRE-EMPTIVE CONSIDERATION and shall be retained by the SELLER in the event of the PURCHASER failing to fulfil its obligations as per Clause 4 above and the persons holding such PRE-EMPTIVE CONSIDERATION are irrevocably authorised to pay the consideration to the SELLER.
5.4 In the event of the PURCHASER fulfilling all of its obligations in terms of this PRE-EMPTION AGREEMENT and the CONTRACT to be signed, the amount paid in terms of clause 1.5 of this PRE-EMPTION AGREEMENT shall be credited towards the PURCHASE PRICE of the UNIT.
5.5 It is recorded that the PURCHASER hereby provides an irrevocable authorisation to the CONVEYANCERS authorising them to pay the amount reflected in 1.5 to the SELLER or its nominated agent on signature of this PRE-EMPTION AGREEMENT.
5.6 It is further recorded that the PURCHASER acknowledges that the amount paid in terms of 1.5 is paid as a consideration for the SELLER granting the PURCHASER a right of pre-emption in respect of the UNIT and is payable directly to the SELLER. This PRE-EMPTVE CONSIDERATION is therefore not invested for the benefit of the PURCHASER and accordingly does not attract interest.
CONSIDERATION PAYABLE. 2.1 SmarTire will pay to TRW US$2,800,000.00 on the terms and conditions set forth in Sections 2.2 and 2.3.
2.2 SmarTire will pay to TRW the sum of US$500,000 and execute and deliver to TRW on the Closing Date the Secured Promissory Note attached to, and by reference incorporated in, this Agreement as Exhibit 1.
2.3 In order to secure the payments due under the Secured Promissory Note delivered to TRW pursuant to subparagraph 2.2, SmarTire will execute and deliver to TRW on the Closing Date the General Security Agreement attached to, and by reference incorporated in, this Agreement as Exhibit 2A, together with all financing statements and other documents that TRW may reasonably request to perfect TRW's security interest in all collateral pledged pursuant to the General Security Agreement. In addition, SmarTire will cause its subsidiaries to execute and deliver to TRW on the Closing Date the Guaranty, attached to, and by reference incorporate in, this Agreement as Exhibit 2B.
CONSIDERATION PAYABLE. 4.1. The PURCHASER will pay to the SELLER a non-refundable amount equivalent to the PRE-EMPTIVE CONSIDERATION as consideration for the granting of the PRE-EMPTIVE RIGHT in favour of the PURCHASER, in terms of this AGREEMENT.
4.2. The PRE-EMPTIVE CONSIDERATION is payable by the PURCHASER directly into the bank account of the SELLER, as detailed in the above schedule, on the date of signature hereof, failing which this AGREEMENT will lapse and be of no further force or effect.
4.3. In the event that the PURCHASER accepts the SELLER’s WRITTEN OFFER TO PURCHASE the UNIT, as per clause 2.1 above, the PRE-EMPTIVE CONSIDERATION will be credited towards the total PURCHASE PRICE of the UNIT.
4.4. No interest shall be credited to or payable to the PURCHASER on the PRE-EMPTIVE CONSIDERATION in any circumstances where such PRE-EMPTIVE CONSIDERATION may, for any reason, be repaid to the PURCHASER.
CONSIDERATION PAYABLE. 3.1. The Consideration is payable by the Purchaser to the Seller as follows –
3.1.1. the deposit of R ( Rand) within 7 (seven) days from the Signature Date; and
3.1.2. the balance of the Consideration as set out in clause 5.5 of the Schedule of Particulars against Transfer.
3.2. Should this Agreement be subject to the condition precedent contained in clause 10.1.5 (loan approval) and a shortfall exists after taking into account the proceeds of the loan, then the
CONSIDERATION PAYABLE. The parties agree that:
(a) subject to this clause and clause 4.4, the consideration payable to the Landowner (Consideration) shall be payable in accordance with Schedule 2;
(b) the Consideration described in clause 4.3(a) is payable unless the parties subsequently agree in writing to revised or different Consideration.
CONSIDERATION PAYABLE. 5.1 The Resident/Responsible Person shall pay to KAMDEBO the following:
5.1.1 The admission fee as set out in paragraph 2.8 on the date of signature of this agreement and which is non-refundable.
5.1.2 The monthly consideration as set out in paragraph 2.5 in respect of the occupancy of the room/portion thereof and the delivery of the included services which is payable on or before the first day of each and every month.
CONSIDERATION PAYABLE. The consideration payable by the Purchaser to the Vendors for the Purchased Shares shall be $20,800,000 and shall be allocated and paid as set out forth in Section 2.03. The Vendors acknowledge and agree that the Purchaser may pay all or a portion of the consideration for the Purchased Shares by issuing shares of the Purchaser's common stock to the Vendors, in which event the Vendors hereby irrevocably, jointly and severally, authorize and direct the Purchaser to sell said shares in the public market pursuant to an effective registration on Form SB-2 in order to fulfill this provision, and provided in any event that said shares shall be sold as soon as possible by such means and that, after giving effect to such sales, the Purchaser shall have paid to the Vendors an aggregate of $20,800,000 in cash.
CONSIDERATION PAYABLE. 4.1 The PURCHASER shall on the DATE OF SIGNATURE HEREOF pay to the SELLER the amount stipulated in 2.1 of the SCHEDULE as payment for the Right of Pre-Emption granted by the SELLER to the PURCHASER.
4.2 Such amount shall be deemed to be a non-refundable deposit and shall be retained by the SELLER in the event of the PURCHASER failing to fulfil its obligations as per Clause 3 above and the persons holding such deposit are irrevocably authorised to pay the consideration to the SELLER.
4.3 The amount shall immediately be paid directly into the banking account as set out in clause 3 of the SCHEDULE.
4.4 In the event of the PURCHASER fulfilling all of its obligations in terms of this Agreement, the amount paid shall be offset against the total Purchase Price of the UNIT.
4.5 It is recorded that The PURCHASER hereby provides an irrevocable authorisation to the CONVEYANCERS authorising them to pay the amount reflected in 2.1 to the SELLER or its nominated agent after signature of this Agreement.
CONSIDERATION PAYABLE. 2.1 The consideration payable by Purchaser for the transfer of the Escrow Shares from the Vendor is $1.00 and other good and valuable consideration. 327