Cash Contract definition
Examples of Cash Contract in a sentence
TRU Cash can’t guarantee the third-party seller will accept the Cash Offer or that Homebuyer(s) will successfully close on the Cash Contract.
Inspection and title contingencies will have been resolved and removed during the Cash Contract phase, and Homebuyer(s) will be obligated to purchase the Property under the Resale Contract even if financing is ultimately unavailable.
TRU Cash and the Homebuyer(s) acknowledge that TRU Cash would not accept assignment of a Cash Contract without the Home Buyer(s)’ representation to purchase the Property pursuant to the Resale Contract and this Agreement.
In the event TRU Cash must assume the Cash Contract because Homebuyer(s) have not yet secured financing, TRU Cash will purchase the Property with cash.
Seller does hereby give permission for Buyer to occupy the Property from 6:00am on the day Seller closes on the Cash Contract (“Buyer’s Initial Occupancy Date”) until the earlier of: (1) Buyer’s closing on the Resale Contract, or (2) 5:00pm on the day that is 60 days after Buyer’s Initial Occupancy Date (the “Termination Date”), at a rental rate of $ per day.
The Cash Contract Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in the Prime Rate.
Seller does hereby give permission for Buyer to occupy the Property from 6:00am on the day Seller closes on the Cash Contract (“Buyer’s Initial Occupancy Date”) until the earlier of: (1) Buyer’s closing on the Resale Contract, or (2) 5:00pm on the day that is 60 days after Buyer’s Initial Occupancy Date (the “Termination Date”), at a rental rate accounted for in the Cash Carry Costs (as defined in the Agreement).
If the Asset Sale Contract or the Cash Contract is terminated, either Seller or Buyer may terminate this Contract by written notice delivered to the other within 10 days after termination of the respective Contract.
Additionally, if Buyer fails to deposit the ▇▇▇▇▇▇▇ Money hereunder or under the Asset Sale Contract or the Cash Contract as required herein or therein, Sellers may terminate this Contract and both the Asset Sale Contract and the Cash Contract by written notice delivered to Buyer within 3 days after Buyer's failure to timely deliver either ▇▇▇▇▇▇▇ Money.
If the Seller expends less than $500,000 in capital expenditures on the Properties, when combined with the expenditures pursuant to the Partnership Sale Contract and the Cash Contract, prior to Closing, then the Seller shall pay to the Buyer at Closing the positive difference between the actual amount of capital expenditures made by the Seller and $500,000 (the CAPITAL PAYMENT).