Sale of Equipment

A long agreement for sale of redundant assets / equipment. A long agreement for sale of redundant equipment with provisions relating to: price, collection, compliance and safety, personnel, equipment, title and risk, confidentiality, intellectual property, insurance, warranties, liability and indemnity.

Redundant assets are those assets that are not specifically required by a company to generate earnings and cash flow from operations. They are “redundant” to the operations of the business. Typically, the valuation of companies for sale are conducted excluding any redundant assets and their related income and expenses.

Sale of Equipment/Assets

• AGREEMENT INCLUDES:-
• Definitions and Interpretation
• Sale and Purchase
• Price
• Collection
• Obligations
• Compliance & Safety
• Acknowledgements
• Personnel
• Equipment
• Title and Risk
• Confidentiality
• Intellectual Property Rights
• Insurance
• Warranties
• Indemnity and Liability
• Taxes
• Notices
•  Assignment
• Set Off
•  Publicity
• Severability
• Precedence
• Entire Agreement
• Waiver
•  Further Assurances
• Variations
• Advice
• Counterparts
• Cumulative Rights
• Costs
• Governing Law

Author:  Eric Kalde Solicitor