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Standard Agreement Of Sale
"I need a Standard Agreement of Sale under Irish law for the purchase of manufacturing equipment worth €500,000, with completion scheduled for March 15, 2025, including specific warranties about the equipment's operational condition and a 30-day testing period before final completion."
1. Parties: Identifies and defines all parties to the agreement with their full legal names and addresses
2. Background: Sets out the context and purpose of the agreement, including brief description of the transaction
3. Definitions: Defines key terms used throughout the agreement for clarity and consistency
4. Sale and Purchase: Core terms of the sale including the subject matter and purchase price
5. Payment Terms: Details of the payment amount, method, and timing
6. Completion: Specifies the completion date and process for closing the sale
7. Seller's Warranties: Standard warranties given by the seller regarding ownership, condition, and quality of the sale items
8. Buyer's Warranties: Basic warranties from the buyer, typically regarding capacity to enter agreement and pay
9. Title and Risk: Specifies when title passes and who bears risk at different stages
10. Confidentiality: Obligations regarding confidential information shared during the transaction
11. Entire Agreement: Confirms the agreement represents the entire understanding between parties
12. Governing Law: Specifies Irish law as governing law and jurisdiction
13. Execution: Signature blocks and execution formalities
1. Conditions Precedent: Used when completion is subject to certain conditions being met first
2. Due Diligence: Include when buyer has right to conduct investigations before completion
3. Post-Completion Obligations: Required when parties have continuing obligations after completion
4. Intellectual Property: Include when sale involves IP rights or licenses
5. Employee Matters: Necessary when sale involves transfer of employees
6. Tax Provisions: Include detailed tax provisions for complex transactions
7. Competition Compliance: Required for larger transactions subject to competition law
8. Break Fee: Include when parties agree to compensation if deal fails
9. Force Majeure: Optional protection against unforeseen events preventing performance
1. Schedule 1 - Asset Description: Detailed description of assets being sold
2. Schedule 2 - Purchase Price Calculation: Breakdown of purchase price and any adjustments
3. Schedule 3 - Completion Requirements: List of documents and actions required at completion
4. Schedule 4 - Seller's Warranties: Detailed warranties given by seller
5. Schedule 5 - Encumbrances: List of any existing encumbrances on the assets
6. Appendix A - Form of Transfer Documents: Template transfer documents to be used
7. Appendix B - Property Details: If real property involved, detailed property information
8. Appendix C - Inventory List: Detailed inventory of items included in sale
Authors
Assets
Business Day
Completion
Completion Date
Confidential Information
Consideration
Contract Period
Effective Date
Encumbrance
Force Majeure Event
Governing Law
Intellectual Property Rights
Liabilities
Losses
Material Adverse Change
Party/Parties
Payment Terms
Permitted Encumbrances
Purchase Price
Purchaser
Relevant Authority
Representatives
Sale Assets
Schedules
Security Interest
Seller
Signing Date
Taxes
Third Party
Title Documents
Transaction
Transfer
VAT
Warranties
Working Hours
Sale and Purchase
Purchase Price
Payment Terms
Conditions Precedent
Completion
Pre-Completion Obligations
Post-Completion Obligations
Warranties
Title and Risk
Due Diligence
Representations
Indemnification
Confidentiality
Data Protection
Insurance
Assignment
Force Majeure
Termination
Notices
Costs and Expenses
Tax
Further Assurance
Severability
Entire Agreement
Variation
Waiver
Third Party Rights
Counterparts
Announcements
Anti-Corruption
Dispute Resolution
Governing Law and Jurisdiction
Retail
Manufacturing
Real Estate
Technology
Agriculture
Automotive
Professional Services
Construction
Industrial
Consumer Goods
Energy
Telecommunications
Healthcare
Hospitality
Legal
Sales
Commercial
Procurement
Finance
Operations
Risk & Compliance
Business Development
Property Management
Contract Administration
Commercial Director
Sales Manager
Legal Counsel
Contract Manager
Business Development Manager
Procurement Manager
Operations Director
Chief Financial Officer
Risk Manager
Compliance Officer
General Counsel
Sales Director
Managing Director
Chief Executive Officer
Property Manager
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