Class 4 - Assignment

Class 4 - Assignment - Class 4 Letter of Intent Purchase...

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Class 4: Letter of Intent: Purchase Price Assignment 2. PURCHASE PRICE The Purchase Price would be $____________ (subject to adjustment as described below) and would be paid in the following manner: [(a) at the Closing, the Buyer would pay the Sellers the sum of $_____ in cash;] [(b) at the Closing, the Buyer would deposit with a mutually acceptable escrow agent the sum of $_______, which would be held in escrow for a period of at least _____ years in order to secure the performance of the Sellers’ obligations under the Definitive Agreement and related documents; and] [(c) at the Closing, the Buyer would execute and deliver to each Seller an [unsecured], [non-negotiable], [subordinated] promissory note. The promissory notes to be delivered to the Sellers by the Buyer would have a combined principal amount of $_______, would bear interest at the rate of ___% per annum, would mature on the _____ anniversary of the Closing, and would provide for _____ equal [annual] [quarterly] payments of principal along with [annual] [quarterly] payments of accrued interest.]
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