ࡱ> Root EntryRoot Entry FGFk&Data \1Table2ESMacros 0FkpFk1sd  !"#%&'()*+,-./0e3456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[]^_`abcgfhijklmnopqrtuvwxCompObj jObjectPoolpFkpFkWordDocument$)MSDigSig(Author)$0SummaryInformation( DocumentSummaryInformation8VBA0Fk9FkPROJECT   !"#$%&'()*+,-./0123456789:;=>?@ABCDEFGHIJKLMNPRSUWXYZ\]_`abcdefghijklmnopqrsuvwxyz{|}~՜.+,D՜.+,h$ px  /9 -Buying a Business - Terms of Payment Clause Title 8@ _PID_HLINKSA`69msbp://-r:1A50C19B/  FMicrosoft Word Document MSWordDocWord.Document.89qThisDocumentThisDocumentAutoNewAutoNewID="{AADDC19A-8403-11D2-9E40-00C04FB160FE}" Document=ThisDocument/&H00000000 Module=AutoNew Name="TemplateProject" HelpContextID="0" VersionCompatible32="393222000" CMG="484A962C9A2C9A2EOh+'0P( HT p |  -Buying a Business - Terms of Payment Clause 9.0uyiMicrosoft Corporationrmicr term_pay.dotporMicrosoft Corporationrm11rMicrosoft Word 9.0o@Ik@ ~@)b@RSGVT$mI 3&WordMicrosoft Word   @Times New Roman*wgwK - 2  05/13/98   2 w  '@"Tahoma !w*wgw - - !6-   2    - - ' - !6-  &2  Buying a Business      2  /2  Terms of Payment Clause      2    - - ' - !l-  - !lI - - !-- !-- !-- !_ -- !_ -- !l-- !l_ -@"TahomaV !w*wgwV - 2 = T '2 o Purchaser will pay seller $[value] at closing and will pay the balance of $[value] according to the terms of a promissory note purchaser will sign at                                     ';2   closing, in the form set forth i        2 ]l n Exhibit [number or alpha ID]. The promissory note will provide for monthly payments of $[value] each. The                           '2  payments will include interest on the unpaid balance at the rate of [value]% per annum from and after the date of closing. The first installment wil                                 2  l   '2  be due on the first day of the month following the closing, and the remaining installments will be due on the first of each month after that until the                                       '2 7g principal and interest is fully paid. Payments will be applied first on interest and then on principal.                          V2 732 The unpaid principal and interest shall be fully             '2 ie paid no later than [number] years from the date of the note. There will be no penalty for prepayment.l                          2 is T ' 2  T '2 g Until purchaser has paid the full balance of principal and interest on the debt, seller will retain a s                        P2 0. ecurity interest in the business assets being              '2  purchased. As evidence of such security interest, purchaser, at closing, will sign a security agreement in the form set forth in Exhibit [number or                                     'h2 1> alpha ID] and will also sign a Uniform Commercial Code Financi             y2 1HI ng Statement, to be recorded at the appropriate county and state offices.                      2 1l c ' 2 c c '- !4-- !4-- !4-- !4-- !4^ -- !X6-- !-- !-- !-- !X6^ -- !^ -- !^ -- 2  cSystem    -                           0+ *H 010 *H 0g +7Y0W03 +70%7)O•0 0 *H [ T, ѿk?00)ъĽ5ǛSV0  *H 010U VeriSign Trust Network10U VeriSign, Inc.1,0*U #VeriSign Time Stamping Service Root1402U +NO LIABILITY ACCEPTED, (c)97 VeriSign, Inc.0 970512070000Z 991231070000Z010U VeriSign Trust Network10U VeriSign, Inc.1,0*U #VeriSign Time Stamping Service Root1402U +NO LIABILITY ACCEPTED, (c)97 VeriSign, Inc.00  *H 0. h|,-.  WSu3* [4 Z%}XsjxqX)X^-bXq"X/6MJ;"V~!lJGj6 -Ӵ90  *H :>{թy=q#+(ߌe,ZbVkbEƢ5"r-| CMlX 5ʉp*}a qfbB="2"d$006C!FXF%`0  *H 010U VeriSign Trust Network10U VeriSign, Inc.1,0*U #VeriSign Time Stamping Service Root1402U +NO LIABILITY ACCEPTED, (c)97 VeriSign, Inc.0 970512070000Z 991231070000Z01'0%U VeriSign Time Stamping Service10U VeriSign Trust Network1402U +NO LIABILITY ACCEPTED, (c)97 VeriSign, Inc.10U VeriSign, Inc.10UInternet00  *H 0aGܴ^i b1FI:?xZcEO n06- o' Q`5OTOз,B Ѝ^㖴"IBlӘV.:X"e匫xGBh[-}0  *H m`_i{p+b#D Q#tI'\q5+ൖ苧KsH ڋ %VNGWF8V!&;-%2Λ@GmGv0;~*1+ݰUApF-,~0 0 yfnжneq0  *H 0a10UInternet10U VeriSign, Inc.1301U *VeriSign Commercial Software Publishers CA0 980416000000Z 990416235959Z0]10UInternet10U VeriSign, Inc.1301U *VeriSign Commercial Software Publishers CA1F0DU =www.verisign.com/repository/CPS Incorp. by Ref.,LIAB.LTD(c)961>0<U 5Digital ID Class 3 - Microsoft Software Validation v21 0 UUS10U Washington10URedmond10UMicrosoft Corporation10U Microsoft Corporation0 0  *H  0&dm{AO o*q.S26h5IؖeS zpm̳*02X|k%gw #1U0Q0u0a10UInternet10U VeriSign, Inc.1301U *VeriSign Commercial Software Publishers CAyfnжneq0 *H 0 *H  1  +70 +7 10  +70 *H  1Bȟr6) 0 +7 1t0r0.Terms of Payment Clause>!lɾlNgWc$~꟯1y ˄f\:(z Q3];SCC௉m|w #SK^IyWyz}woi$){Kqɻ^Ù{FήJ/  p bjbj )M"g  8  N,BXXX3RqMNNNNNN$OP oR8N 338N  XXMN   4 X XA,0! qM  ])4 +X  eao * (+*+\cN0N+*ES ES+  Microsoft Business PlannerGo to Article :  HYPERLINK "msbp://-r:1A50C19B/" Creating a Sales Agreement When Buying a Business Buying a Business Terms of Payment Clause This sample language can be used as a guide in forming a terms of payment clause that is agreeable to you and the seller. Attach this type of promissory note to the sales agreement. Customize this as necessary to meet your companys needs. Note: When you save this template as a document, note the document's file name and location. To edit the document next time, you must open it using Word. Every time you open this template from Microsoft Business Planner, a new document is created. Copyright Fred S. Steingold 1997, Legal Guide for Starting & Running a Small Business, Volume 1, published by Nolo Press, Inc.  Buying a Business Terms of Payment Clause Purchaser will pay seller $[value] at closing and will pay the balance of $[value] according to the terms of a promissory note purchaser will sign at closing, in the form set forth in Exhibit [number or alpha ID]. The promissory note will provide for monthly payments of $[value] each. The payments will include interest on the unpaid balance at the rate of [value]% per annum from and after the date of closing. The first installment will be due on the first day of the month following the closing, and the remaining installments will be due on the first of each month after that until the principal and interest is fully paid. Payments will be applied first on interest and then on principal. The unpaid principal and interest shall be fully paid no later than [number] years from the date of the note. There will be no penalty for prepayment. Until purchaser has paid the full balance of principal and interest on the debt, seller will retain a security interest in the business assets being purchased. As evidence of such security interest, purchaser, at closing, will sign a security agreement in the form set forth in Exhibit [number or alpha ID] and will also sign a Uniform Commercial Code Financing Statement, to be recorded at the appropriate county and state offices.   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