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Irrevocable Agreement

Irrevocable Agreement Template for Germany

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Key Requirements PROMPT example:

Irrevocable Agreement

"I need an Irrevocable Agreement under German law for a manufacturing joint venture between our GmbH and a French corporation, with specific focus on intellectual property rights and technology sharing commitments that cannot be withdrawn."

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Document background
The Irrevocable Agreement is a specialized contractual instrument used when parties need to establish binding, non-retractable commitments under German law. It is particularly relevant in scenarios requiring absolute certainty and permanence of obligations, such as high-value commercial transactions, real estate deals, financial commitments, or strategic business arrangements. The document must comply with German civil law requirements, particularly sections of the Bürgerliches Gesetzbuch (BGB) relating to contract formation, irrevocability of declarations, and formal requirements. This type of agreement is characterized by its permanent nature and the inability of parties to unilaterally modify or terminate the commitments made, making it essential for situations where contractual stability and certainty are paramount.
Suggested Sections

1. Parties: Detailed identification of all contracting parties, including full legal names, registration details, and addresses

2. Background: Context and circumstances leading to the agreement, including any relevant pre-contractual relationships

3. Definitions: Clear definitions of key terms used throughout the agreement

4. Subject Matter: Precise description of the agreement's subject matter and scope

5. Irrevocability Declaration: Express provision establishing the irrevocable nature of the agreement and its binding effect

6. Duration: Term of the agreement and any specific timeframes

7. Obligations of the Parties: Detailed description of each party's rights and obligations

8. Consideration: Details of any payment or other consideration, including payment terms and methods

9. Representations and Warranties: Essential statements and guarantees made by each party

10. Notices: Communication procedures and contact details for formal notices

11. Governing Law and Jurisdiction: Explicit statement of German law as governing law and jurisdiction details

12. Execution: Formal execution requirements complying with German law

Optional Sections

1. Force Majeure: Provisions for unforeseen circumstances, recommended for long-term agreements

2. Confidentiality: Required if sensitive information is exchanged

3. Data Protection: Necessary if personal data processing is involved (GDPR compliance)

4. Intellectual Property: Include if IP rights are relevant to the agreement

5. Assignment: Include if transfer of rights needs to be addressed

6. Severability: Standard clause under German law, recommended for complex agreements

7. Insurance: Include if specific insurance requirements exist

8. Compliance: Include if specific regulatory compliance obligations exist

Suggested Schedules

1. Schedule 1 - Detailed Specifications: Technical or detailed specifications of goods, services, or obligations

2. Schedule 2 - Payment Terms: Detailed payment schedules, calculations, or financial terms

3. Schedule 3 - Contact Details: List of key contacts and authorized representatives

4. Schedule 4 - Required Documentation: List of documents required for execution or performance

5. Appendix A - Form of Notices: Standard forms for formal notices under the agreement

6. Appendix B - Compliance Requirements: Specific regulatory or compliance requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Effective Date
Execution Date
Parties
Business Day
Binding Effect
Force Majeure
Confidential Information
Material Adverse Change
Permitted Purpose
Related Parties
Representatives
Affiliate
Applicable Law
Business Hours
Consideration
Default
Good Industry Practice
Intellectual Property Rights
Loss
Notice
Irrevocable Commitment
Term
Territory
Working Day
Written Form
Electronic Form
Authorized Representative
Binding Obligations
Completion Date
Conditions Precedent
Control
Damages
Encumbrance
Event of Default
Governmental Authority
Liability
Person
Security Interest
Signing Date
Tax
Third Party
Transaction
Valid Claim
Clauses
Parties
Recitals
Definitions
Subject Matter
Irrevocability
Consideration
Payment Terms
Performance Obligations
Representations and Warranties
Conditions Precedent
Term and Duration
Force Majeure
Confidentiality
Data Protection
Intellectual Property
Liability
Indemnification
Insurance
Assignment
Change of Control
Notice Requirements
Record Keeping
Audit Rights
Compliance with Laws
Anti-Corruption
Export Control
Tax
Costs and Expenses
Severability
Amendment
Waiver
Entire Agreement
Third Party Rights
Counterparts
Electronic Execution
Governing Law
Jurisdiction
Dispute Resolution
Language
Interpretation
Relevant Industries

Financial Services

Real Estate

Manufacturing

Technology

Energy

Infrastructure

Professional Services

Healthcare

Retail

Construction

Transportation

Telecommunications

Agriculture

Education

Relevant Teams

Legal

Compliance

Corporate Affairs

Risk Management

Finance

Business Development

Operations

Commercial

Strategy

Executive Leadership

Investment

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Corporate Lawyer

Business Development Manager

Chief Legal Officer

Chief Executive Officer

Chief Financial Officer

Risk Manager

Compliance Officer

Commercial Director

Project Manager

Investment Manager

Real Estate Manager

Operations Director

General Manager

Board Member

Industries
Bürgerliches Gesetzbuch (BGB) § 145-157: German Civil Code sections on contract formation, offers, and acceptance, which are fundamental to creating any binding agreement
BGB § 311: Provisions regarding legal transactions and obligations, particularly relevant for establishing binding contractual relationships
BGB § 130-132: Regulations concerning declarations of intent and their irrevocability, which are crucial for establishing an irrevocable agreement
BGB § 125-129: Form requirements for contracts under German law, ensuring the agreement meets necessary formal criteria
BGB § 133, 157: Rules on contract interpretation and good faith, essential for understanding how German courts will interpret the agreement
BGB § 241: Obligations arising from contractual relationships, defining the nature and scope of contractual duties
BGB § 305-310: Regulations regarding standard business terms (AGB-Recht), which might affect certain standardized provisions in the agreement
Handelsgesetzbuch (HGB) § 346-354: Commercial Code provisions that may apply if the agreement is between commercial entities
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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