Common use of Purchase Price; Consideration Clause in Contracts

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Four Hundred Five Thousand Dollars ($405,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 500 Membership Interests, having a value equal to Ten Thousand Dollars ($10,000), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership interests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

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Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Four Hundred Five Twenty Thousand Eighty Dollars ($405,00020,080) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 500 502 Membership Interests, having a value equal to Ten Five Thousand Twenty Dollars ($10,0005,020), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership interestsInterests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Four Hundred Five Twenty-Nine Thousand Dollars ($405,00029,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 500 21,000 Membership Interests, having a value equal to Ten Twenty-One Thousand Dollars ($10,00021,000), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership interestsInterests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Collection LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Four Hundred Seventy-Five Thousand Dollars ($405,00075,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 500 2,500 Membership Interests, having a value equal to Ten Twenty Five Thousand Dollars ($10,00025,000), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership interestsInterests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Four Hundred Five Ninety Thousand Dollars ($405,00090,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 500 27,000 Membership Interests, having a value equal to Ten Two Hundred Seventy Thousand Dollars ($10,000270,000), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership interestsInterests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

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Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Four Hundred Five Fifty-Seven Thousand Dollars ($405,00057,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 500 1,500 Membership Interests, having a value equal to Ten Fifteen Thousand Dollars ($10,00015,000), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership interestsInterests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Four Two Hundred Five Eighty Thousand Dollars ($405,000280,000) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 500 5,250 Membership Interests, having a value equal to Ten Fifty Two Thousand Five Hundred Dollars ($10,00052,500), to the initial Asset seller to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership interestsInterests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

Purchase Price; Consideration. Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Four Hundred Five Sixteen Thousand Seven Hundred Dollars ($405,000416,700) (the “Promissory Note”) as partial consideration for the Ownership Interests. Upon the closing of the offering of membership interests in Purchaser (the “Membership Interests”), Purchaser shall issue 500 23,330 Membership Interests, having a value equal to Ten One Hundred Fifty Thousand Dollars ($10,000233,300), to the party from which the Seller acquired the Asset, as the remaining consideration for the Ownership interests.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Otis Gallery LLC)

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