Common use of SELLER'S RIGHT TO PAY Clause in Contracts

SELLER'S RIGHT TO PAY. In the event Buyer fails to make any payment of taxes, assessments, insurance premiums, or other charges that Buyer is required to pay to third parties under this Agreement, Seller shall have the right, but not the obligation, to pay the same. Buyer will reimburse Seller for any such payment immediately upon Seller's demand, together with interest at the same rate provided in the Note from the date of Seller's payment until Buyer reimburses Seller. Any such payment by Seller shall not constitute a waiver by Seller of any remedy available by reason of Buyer's default for failure to make the payments.

Appears in 6 contracts

Samples: Asset Purchase Agreement (Innovest Global, Inc.), Asset Purchase Agreement (Identica Holdings Corp), Asset Purchase Agreement (Myoffiz Inc)

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SELLER'S RIGHT TO PAY. In the event Buyer Purchaser fails to make any payment of taxes, assessments, insurance premiums, or other charges that Buyer Purchaser is required to pay to third parties under this Agreement, Seller shall have the right, but not the obligation, to pay the same. Buyer Purchaser will reimburse Seller for any such payment immediately upon Seller's demand, together with interest at the same rate provided in the Note from the date of Seller's payment until Buyer Purchaser reimburses Seller. Any such payment by Seller shall not constitute a waiver by Seller of any remedy available by reason of BuyerPurchaser's default for failure to make the payments.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Diamond Equities Inc), Asset Purchase Agreement (Precision Plastics Molding Inc)

SELLER'S RIGHT TO PAY. In the event Buyer fails to make any payment of taxes, assessments, insurance premiums, or other charges that Buyer is required to pay to third parties under this Agreement, Seller shall have the right, but not the obligation, to pay the same. Buyer will reimburse Seller for any such payment immediately upon Seller's demand, together with interest at the same annual rate provided in the Note of 8% from the date of Seller's payment until Buyer reimburses Seller. Any such payment by Seller shall not constitute a waiver by Seller of any remedy available by reason of Buyer's default for failure to make the payments.

Appears in 1 contract

Samples: Asset Purchase Agreement (Pure Earth, Inc.)

SELLER'S RIGHT TO PAY. In the event Buyer fails to make any payment of taxes, assessments, insurance premiums, or other charges that Buyer is required to pay to third parties under this Agreement, Seller shall have the right, but not the obligation, to pay the same. Buyer will reimburse Seller for any such payment immediately upon Seller's Xxxxxx’s demand, together with interest at the same rate provided in the Note from the date of Seller's ’s payment until Buyer reimburses Seller. Any such payment by Seller shall not constitute a waiver by Seller of any remedy available by reason of Buyer's ’s default for failure to make the payments.

Appears in 1 contract

Samples: Employment Agreement

SELLER'S RIGHT TO PAY. In the event Buyer fails to make any payment of taxes, assessments, insurance premiums, or other charges that Buyer is required to pay to third parties under this Agreement, Seller shall have the right, but not the obligation, to pay the same. Buyer will reimburse Seller for any such payment immediately upon Seller's ’s demand, together with interest at the same rate provided in the Note from the date of Seller's payment until Buyer reimburses Seller. Any such payment by Seller shall not constitute a waiver by Seller of any remedy available by reason of Buyer's default for failure to make the payments.

Appears in 1 contract

Samples: Asset Purchase Agreement (Innovest Global, Inc.)

SELLER'S RIGHT TO PAY. In the event Buyer fails to make any payment of taxes, assessments, insurance premiums, or other charges that Buyer is required to pay to third parties under this Agreement, Seller shall have the right, but not the obligation, to pay the same. Buyer will reimburse Seller for any such payment immediately upon Seller's ’s demand, together with interest at the same annual rate provided in the Note of 12% from the date of Seller's ’s payment until Buyer reimburses Seller. Any such payment by Seller shall not constitute a waiver by Seller of any remedy available by reason of Buyer's ’s default for failure to make the payments.

Appears in 1 contract

Samples: Non Competition Agreement (Pure Earth, Inc.)

SELLER'S RIGHT TO PAY. In the event Buyer fails to make any payment of taxes, assessments, insurance premiums, or other charges that Buyer is required to pay to third parties under this Agreement, Seller shall have the right, but not the obligation, to pay the same. Buyer will reimburse Seller for any such payment immediately upon Seller's demand, together with interest at the same rate provided in the Note from the date of Seller's payment until Buyer reimburses Seller. Any such payment by Seller shall not constitute a waiver by Seller of any remedy available by reason of Buyer's default for failure to make the payments.. eRoomSystem Services, Inc. Identica Corp.

Appears in 1 contract

Samples: Asset Purchase Agreement (Eroomsystem Technologies Inc)

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SELLER'S RIGHT TO PAY. In If the event Buyer fails to make any payment of taxes, assessments, insurance premiums, or other charges that the Buyer is required to pay to third parties under this Agreement, the Seller shall have has the right, but not the obligation, to pay the same. The Buyer will reimburse the Seller for any such payment immediately upon on the Seller's ’s demand, together with interest at the same rate provided in the Note from the date of the Seller's ’s payment until the Buyer reimburses the Seller. Any such payment by the Seller shall will not constitute a waiver by the Seller of any remedy available by reason of the Buyer's ’s default for failure to make the payments.

Appears in 1 contract

Samples: Agreement for Sale and Purchase (Evio, Inc.)

SELLER'S RIGHT TO PAY. In the event Buyer fails to make any payment of taxes, assessments, insurance premiums, or other charges that Buyer is required to pay to third parties under this Agreement, Seller shall have the right, but not the obligation, to pay the same. Buyer will reimburse Seller for any such payment immediately upon SellerXxxxxx's demand, together with interest at the same rate provided in the Note from the date of Seller's payment until Buyer reimburses Seller. Any such payment by Seller shall not constitute a waiver by Seller of any remedy available by reason of Buyer's default for failure to make the payments.

Appears in 1 contract

Samples: Asset Purchase Agreement

SELLER'S RIGHT TO PAY. In the event Buyer Purchaser fails to make any payment of taxes, assessments, insurance premiums, or other charges that Buyer Purchaser is required to pay to third parties under this Agreement, Seller shall have the right, but not the obligation, to pay the same. Buyer Purchaser will reimburse Seller for any such payment immediately upon Seller's ’s demand, together with interest at the same rate provided in the Note of twelve percent (12%) per annum from the date of Seller's ’s payment until Buyer Purchaser reimburses Seller. Any such payment by Seller shall not constitute a waiver by Seller of any remedy available by reason of Buyer's Purchaser’s default for failure to make the payments.

Appears in 1 contract

Samples: Sale/Purchase of Assets Agreement (SMTC Corp)

SELLER'S RIGHT TO PAY. In If the event Buyer fails to make any payment of taxes, assessments, insurance premiums, or other charges that the Buyer is required to pay to third parties under this Agreement, the Seller shall have has the right, but not the obligation, to pay the same. The Buyer will reimburse the Seller for any such payment immediately upon on the Seller's demand, together with interest at the same rate provided in the Note from the date of the Seller's payment until the Buyer reimburses the Seller. Any such payment by the Seller shall will not constitute a waiver by the Seller of any remedy available by reason of the Buyer's default for failure to make the payments.

Appears in 1 contract

Samples: Agreement for Sale and Purchase (Signal Bay, Inc.)

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