- 4 -
may terminate this Agreement upon Seller’s receipt of
signed notice from Purchaser.
c. Upon delivery, Owner shall acquire all rights,
title and interest in and to the Equipment purchased.
Exhibit E, “Buy Back Election”, to the ATC pay phone
agreement stated:
1.0 Buy Back Election: Should Owner elect to sell any
telephone equipment, itemized in Exhibit “A”, American
Telecommunications Company, Inc., (hereinafter
“Seller”), agrees to buy back such equipment from
Owner, according to the following terms and conditions:
1) If exercise of the buy back election occurs in the
first thirty-six months after the equipment delivery
date, the re-sale price shall be the Owner’s original
purchase price of $5,000.00, minus a “restocking fee”
of (10%) ten percent of the purchase price; 2) If the
buy-back election is made more than (36) thirty-six
months after the equipment delivery date, the sale
price shall be the Owner’s original purchase price of
$5,000.00, and there shall be no “restocking fee” for
Purchaser’s election to re-sell the equipment purchased
back to Seller. This “Buy Back Election” shall expire
on the (84th) eighty-fourth month anniversary of
Owner’s equipment delivery date. 3) Seller, or its
designee, reserves the right of first refusal as to the
telephone equipment. If Owner enters into an agreement
to sell the telephone equipment to any third party,
Seller, or its designee, shall have thirty (30) days to
match any legitimate offer to purchase said equipment
received by Owner.
Exhibit E further stated:
4.0 Maintenance Requirements For Buy Back Provision:
If Purchaser elects to require Seller to re-purchase
the Pay Telephone Equipment, Purchaser must establish
to Seller’s satisfaction that all repairs and
maintenance, as set forth in Exhibit “B”, have been
performed as required. This means that the regular
maintenance “recommended” in Exhibit “B” is mandatory.
Purchaser will establish that regular maintenance and
repairs have been performed on the Equipment by
maintaining a logbook. The logbook must set forth the
dates and times maintenance and repairs were made to
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011