CONTRACT PURCHASER Clause Samples
The "Contract Purchaser" clause defines the individual or entity that is designated as the buyer under the terms of the contract. This clause typically identifies the purchaser by name and may include relevant details such as address or legal status, ensuring there is no ambiguity about who is responsible for fulfilling the buyer’s obligations. By clearly specifying the contract purchaser, this clause helps prevent disputes over contractual rights and responsibilities, ensuring that all parties understand who is entitled to receive goods or services and who must make payment.
CONTRACT PURCHASER. A. Only One Contract Purchaser Allowed: The Purchaser must meet the following qualifications (as applicable):
1. A Purchaser must provide a valid Social Security number and/or a Taxpayer Identification Number.
2. A Purchaser under the age of 18 must have an adult sign the Open Enrollment form and certify that this adult will serve as the Guardian or Custodian of the Contract.
3. In case of a legal entity purchasing a Contract, a legally authorized representative of the entity must sign the Open Enrollment form. This authorized representative is an individual designated by a partnership, corporation, trust, estate, association or organization to control a Contract, however the entity itself and not the representative, will be the Purchaser of the Contract. The authorized representative must sign all forms. The entity must notify the Program in a timely manner if the authorized representative changes by submitting a completed Change of Purchaser from provided by the Program.
4. The Purchaser must meet the qualifications of a Purchaser as defined in Section 1.jj.
CONTRACT PURCHASER. A. Only One Contract Purchaser Allowed: The Purchaser must meet the following qualifications (as applicable):
1. A Purchaser must provide a valid Social Security Number or a Taxpayer Identification Number.
2. A Purchaser under the age of 18 must have an adult sign the Open Enrollment form and certify that this adult will serve as the Guardian or Custodian of the Contract.
3. In case of a legal entity purchasing a Contract, a legally authorized representative of the entity must sign the Open Enrollment form. This authorized representative is an individual designated by a partnership, corporation, trust, estate, association, or organization to control a Contract, however the entity itself and not the representative, will be the Purchaser of the Contract. The authorized representative must sign all forms. The entity must notify the
4. The Purchaser must meet the qualifications of a Purchaser as defined In Section 4.C of this Agreement.
CONTRACT PURCHASER. Owner or Owner's representative shall provide the Town with a copy of the executed purchase contract for each Affordable Unit within two (2) business days of the date of execution. The Town shall then verify that the contract purchaser is an income certified purchaser and that the contract price is consistent with the above MASP. The Owner or Owner's representative shall not schedule a closing date for any Affordable Unit prior to the Town's receipt and review of each purchase contract.
CONTRACT PURCHASER. Any adult person, corporation, trust, charitable organization or other Entity eligible to purchase an MPACT Contract, and who is obligated to make Contract payments and Administrative Fee payments in accordance with the MPACT Contract. MPACT Contract payments may be made by someone other than the designated Contract Purchaser. A Contract Purchaser must be either a U.S. citizen or a permanent resident alien. In each case the Contract Purchaser will have either a Social Security or a Taxpayer Identification Number.