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Contracting For Profit Menu

Better Arbitrations

Better, Cheaper & Faster Arbitrations

Payment

Sophisticated Payment Provision

Purchase Money Security Interest

Termination

Sophisticated Payment Provision II

Taxes

Limiting Liability

Warranty Limitation Provision

Warranty Exclusion Provision

Warranty Exclusion Provision II

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Nicolai Law Group, P.C.



  Contracting for Profit


   Sophisticated Payment Provision - PMSI

   SECURITY INTEREST: Until the full purchase price has been paid, SELLER reserves a Purchase Money Security Interest under the Uniform Commercial Code in the materials ordered and in the proceeds derived from such materials ordered. BUYER shall execute such documents as SELLER may require, including, but not limited to, one or more Financing Statements, and provide to SELLER signed waivers and consents from landowner(s) and mortgagee(s). BUYER agrees and hereby appoints SELLER as attorney-in-fact to do, at the option of SELLER, all acts and things SELLER may deem desirable to perfect and continue to perfect the Purchase Money Security Interest granted hereby, including SELLER'S authority to file financing statements naming BUYER as debtor and SELLER as secured party without BUYER'S signature in those states where such filings are permitted, and to sign BUYER'S name thereto where required. At SELLER's option, there shall be no delivery of any of the materials ordered hereunder until all documents necessary to perfect the Purchase Money Security Interest have been executed to SELLER'S satisfaction. All costs and expenses of SELLER, including attorneys' fees for the preparation and recordation of documents deemed necessary and appropriate to establish and perfect the Purchase Money Security Interest, shall be the responsibility of BUYER and shall be immediately payable by BUYER upon receipt of SELLER's invoice for same.


Tarbell-Watters Building, 146 Chestnut Street, Springfield, MA 01103-1539
Telephone (413) 272-2000   Facsimile (413) 272-2010    
E-Mail: niclawgrp@niclawgrp.com    Internet: www.niclawgrp.com