Common use of Used Vehicles Clause in Contracts

Used Vehicles. Buyer may purchase all vehicles other than the New Vehicles in Seller’s vehicle inventory as of the Closing Date selected by Seller at a mutually agreed upon price (collectively, “Used Vehicles”); provided that Buyer shall purchase Seller’s titled service loaners with 6,500 or fewer miles and in service for one (1) year or less at their depreciated net book value as long as they were entered at their actual net dealer cost and depreciated by at least 2% per month. If the Parties are unable to agree on the price of any Used Vehicle, then each such Used Vehicle will be excluded from the sale and removed from the Dealership Premises within ten (10) days after the Closing.