Down payment clause samples

On December 22, 2018, the Company entered into a purchase agreement to acquire the Series Renault Alpine A110 from the Automobile Seller for a total cost of $75,000 (the “#75RA1 Asset Cost”) of which $7,500 was paid in cash as a non-refundable down payment. The $7,500 non-refundable down payment was financed through a $7,500 payment from the Manager at the time of entry into this purchase agreement.

On January 15, 2019, the Company entered into a purchase option agreement for the right to acquire the Series Ferrari 348TS SS from the Automobile Seller for a total cost of $130,000 (the “Series #93FS1 Asset Cost”) of which $10,000 was paid in cash as a non-refundable down payment. The $10,000 non-refundable down payment was financed through a $10,000 non-interest-bearing payment from the Manager at the time of the entry into this purchase option agreement.

b. Penalty for the failure to make the Down Payment. Should Chemesis fail to pay the Down Payment, the Down Payment and the balance shall be immediately due and payable, and Chemesis shall pay the Selling Members an additional sum, as a penalty, equal to $250,000 (“Penalty Payment”). The Penalty Payment shall be made to the Selling Members in the same proportion as the Down Payment is required to be made in Schedule A. In addition, to the Penalty Payment, Chemesis shall pay Selling Members interest on $2,250,000, since December 7, 2017 until the day of the payment, at an interest rate equal to 5%/week.

1 Two differences in percentage of down payment. 2 Eleven differences in original equipment cost.

Article 30 Transferee shall timely pay the transfer price of state-owned construction land use right in accordance with this Contract. If the Transferee who cannot pay for the state-owned construction land use right transfer price on time shall pay liquidated damages to the Transferor in 1‰ of delay payments daily from the date of nonpayment. If the payment is deferred more than 60 days, and the Assignee still cannot pay for the state-owned construction land use right transfer price after the Transferor's expediting, the Transferor has the right to cancel the contract and the Assignee has no right to demand the return of the down payment. The Transferor may request the Assignee to compensate for the losses.

(c) Contingent Down Payment. If Employee elects not to relocate his primary residence to the Cambridge, Massachusetts area (and therefore has not received any portion of the Relocation Amount), but nonetheless purchases a residence in the Cambridge, Massachusetts area on or before the date that is twelve (12)months following the Start Date, then, subject to submission to the Company of appropriate supporting documentation, the Company will reimburse Employee for up to $25,000 of the down payment for such additional residence (the “Partial Down Payment Reimbursement”). Appropriate supporting documentation of the Partial Down Payment Reimbursement must be submitted within sixty (60)days after date Employee makes such down payment. Any Partial Down Payment Reimbursement will be paid no later than thirty (30)days after the date Employee submits appropriate supporting documentation. The Company will withhold from the Partial Down Payment Reimbursement any applicable income and employment tax withholdings, as determined in its reasonable, good faith judgment, and Employee will be responsible for paying any taxes on these reimbursements to the extent that they are taxable income under applicable tax law. If Employee resigns from the Company for any reason or if the Company terminates Employee’s employment for Cause (as defined below) within eighteen (18)months following the Start Date, Employee must repay to the Company the Partial Down Payment Reimbursement which was previously provided to Employee, on a pre-tax basis. For the avoidance of doubt, Employee is not eligible to receive both the Relocation Amount and the Partial Down Payment Reimbursement and receipt of one will foreclose receipt of the other.

2. Possession and Delivery. Seller shall make available to Buyer the Property promptly following receipt of the Down Payment. Absolute right to possession of the Property shall transfer to Buyer after the Purchase Price is paid in full. If delivery of the Property is to be made at a date after the Effective Date, it is Seller’s duty to ensure the Property is delivered in the same condition as when last inspected by Buyer. Seller shall remain entitled to the Property until such time the full Purchase Price is conveyed to Buyer, on a pro rata basis.

1. Within two days after the execution of this agreement, Party A shall pay RMB 200,000 (RMB Two Hundred Thousand) to Party B as down payment. Party B shall actively cooperate with Party A or any third party designated by Party A to conduct relevant due diligence on the target company and provide such relevant materials as requested by Party A or such third party designated by Party A.