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Agreement To Sell Business
"I need an Agreement to Sell Business for my Dubai-based manufacturing company, which includes specialized machinery and 45 employees, with completion planned for March 2025 and including special provisions for technology transfer and employee retention bonuses."
1. Parties: Identification of the seller and buyer, including full legal names, registration details, and addresses
2. Background: Context of the transaction, description of the business, and purpose of the agreement
3. Definitions: Defined terms used throughout the agreement, including Business, Assets, Completion Date, etc.
4. Sale and Purchase: Core transaction terms, including what is being sold and purchased
5. Purchase Price: Purchase consideration, payment terms, adjustments, and payment mechanics
6. Conditions Precedent: Conditions that must be satisfied before completion of the sale
7. Pre-Completion Obligations: Obligations of both parties between signing and completion
8. Completion: Mechanics of closing the transaction, including timing, location, and deliverables
9. Seller's Warranties: Representations and warranties regarding the business, assets, and liabilities
10. Buyer's Warranties: Representations and warranties from the buyer, including capacity to purchase
11. Limitations on Liability: Limitations on warranty claims and general liability caps
12. Employees: Treatment of employees, transfer arrangements, and related obligations
13. Restrictive Covenants: Non-compete and non-solicitation provisions
14. Confidentiality: Obligations regarding confidential information
15. Announcements: Requirements for public announcements about the transaction
16. General Provisions: Standard boilerplate clauses including governing law, notices, etc.
1. Intellectual Property: Detailed provisions for transfer of IP rights, when business owns significant IP
2. Real Estate: Specific provisions for transfer of property rights, when business owns/leases property
3. Environmental Matters: Environmental warranties and indemnities, for businesses with environmental risks
4. Data Protection: Provisions for handling personal data, for businesses processing significant personal data
5. Pension Schemes: Treatment of pension arrangements, when business has pension schemes
6. Litigation: Handling of ongoing litigation, when business has pending legal matters
7. Tax Covenant: Detailed tax provisions, for complex tax situations
8. Earn-out Provisions: Structure for additional payments based on future performance
9. Third Party Consents: Process for obtaining required third-party approvals
1. Schedule 1 - Business Assets: Detailed list of all assets included in the sale
2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale
3. Schedule 3 - Properties: Details of owned and leased properties
4. Schedule 4 - Intellectual Property Rights: List of all IP rights owned by the business
5. Schedule 5 - Employee Information: Details of all employees, including terms and conditions
6. Schedule 6 - Material Contracts: List of key business contracts being transferred
7. Schedule 7 - Completion Deliverables: List of documents to be delivered at completion
8. Schedule 8 - Warranties: Detailed warranties given by the seller
9. Appendix 1 - Form of Transfer Instruments: Template documents for transferring specific assets
10. Appendix 2 - Completion Accounts: Format and principles for preparation of completion accounts
Authors
Assets
Business
Business Day
Business Information
Business Records
Buyer
Claim
Completion
Completion Date
Completion Payment
Confidential Information
Consideration
Contracts
Disclosed
Disclosure Letter
Effective Date
Employees
Encumbrance
Exchange Rate
Excluded Assets
Excluded Liabilities
Financial Statements
Governmental Authority
Intellectual Property Rights
Inventory
Key Employees
Knowledge
Lease
Leased Properties
Liabilities
License
Material Adverse Change
Material Contracts
Notice
Owned Properties
Permits
Purchase Price
Related Party
Relevant Authority
Representatives
Seller
Seller Group
Signing Date
Tax
Territory
Trade License
Transaction
Transfer Date
UAE Dirham
Warranties
Working Capital
Purchase Price
Payment Terms
Conditions Precedent
Due Diligence
Pre-completion Obligations
Completion Mechanics
Post-completion Obligations
Transfer of Assets
Transfer of Employees
Business Assets
Intellectual Property
Warranties
Indemnification
Restrictive Covenants
Non-competition
Confidentiality
Employee Matters
Tax Matters
Regulatory Compliance
Business Contracts
Property Rights
Assignment
Force Majeure
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendment
Notices
Third Party Rights
Costs and Expenses
Waiver
Further Assurance
Announcements
Data Protection
Liability Limitations
Insurance
Environmental Matters
Business Continuity
Transfer of Licenses
Termination
Retail
Manufacturing
Professional Services
Technology
Healthcare
Real Estate
Hospitality
Construction
Trading
Education
Financial Services
Transportation
Logistics
Media and Entertainment
Food and Beverage
Legal
Finance
Corporate Development
Mergers & Acquisitions
Executive Leadership
Operations
Compliance
Risk Management
Business Development
Corporate Secretariat
CEO
Managing Director
Business Owner
Chief Financial Officer
General Counsel
Legal Director
Corporate Lawyer
Business Development Director
Finance Director
Company Secretary
Operations Director
Commercial Director
Merger & Acquisition Manager
Investment Manager
Risk Manager
Compliance Officer
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