Common use of Credit Against Purchase Price Clause in Contracts

Credit Against Purchase Price. If the time specified for cutting and removal of timber has expired or the rights of Purchaser have been cancelled, or the Purchaser has notified the Authorized Officer that cutting and removal has been completed, Purchaser shall be entitled to a credit against the total actual purchase price for timber remaining on the contract area. The Contracting Officer shall determine the credit value of the remaining timber as soon as possible after the date of expiration, cancellation, or notification. Credit value of the remaining timber shall be total market value as established by the Contracting Officer by reappraisal or resale, or total value based upon contract unit prices shown on Exhibit B, whichever is less. There shall be deducted from credit value such amounts as the Contracting Officer determines adequate to cover costs to Government resulting from Purchaser’s failure to perform, including but not limited to costs of appraising and administering any resale of timber, and the cost of cruising and scaling to determine volumes under Sec. 3(g).

Credit Against Purchase Price. If the time specified for cutting and removal of timber wood products has expired or the rights of Purchaser have been cancelled, or the Purchaser has notified the Authorized Officer that cutting and removal has been completed, Purchaser purchaser shall be entitled to a credit against the total actual purchase price for timber wood products remaining on the contract area. The the Contracting Officer shall determine the credit value of the remaining timber wood products as soon as possible after the date of expiration, cancellation, or notification. Credit value of the remaining timber wood products shall be total market value as established by the Contracting Officer by reappraisal or resale, or total value based upon contract unit prices shown on Exhibit B, whichever is less. There there shall be deducted from credit value such amounts as the Contracting Officer determines adequate to cover costs to Government government resulting from Purchaserpurchaser’s failure to perform, including but not limited to costs of appraising and administering any resale of timberwood products, and the cost of cruising and scaling to determine volumes under Sec. 3(g).