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Asset Sale Agreement

 

Asset Sale Agreement  for sale of business from one entity to another. Suitable for a company / trust / partnership or sole trader selling a business to another company / trust / partnership or sole trader. Asset Sale Agreement covers the following:

 

  • Defined terms & interpretation
  • Conditions
  • Sale and purchase
  • Purchase Price
  • Obligations before Completion
  • Completion
  • Apportionable Outgoings and final payment of Purchase Price
  • Customer Orders
  • Title and risk
  • Trading and other responsibilities
  • Assumed Contracts
  • Employees
  • Book Debts
  • Motor vehicles
  • Warranties
  • Capacity
  • After Completion
  • GST
  • Notices and other communications
  • Miscellaneous

Asset Sale Agreement – Business Sale Agreements with Annexures to the Contract are divided up into Schedules. Unwanted schedules can be deleted depending on the circumstances.

  • Schedule 1 – Apportionment of Purchase Price
  • Schedule 2 – Plant and Equipment
  • Schedule 3 – Warranties
  • Schedule 4 – Business Contracts
  • Schedule 5 – Property Lease
  • Schedule 6 – Employees
  • Schedule 7 – Statutory Licences
  • Schedule 8 – Employee offer letters
  • Schedule 9 – Client List

39 pages long

 

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KALDELEGAL

An asset sale agreement is a definitive agreement that finalises all terms and conditions related to the purchase and sale of a company’s assets. It is different from a stock purchase agreement  where company shares, including title to the assets and liabilities, are being bought/sold. 

An asset purchase agreement is an agreement between a buyer and a seller that finalises terms and conditions related to the purchase and sale of a company’s assets.  

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