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Commercial Property Purchase And Sale Agreement
"I need a Commercial Property Purchase and Sale Agreement for acquiring a multi-story office building in Mumbai's Bandra-Kurla Complex, with specific provisions for existing tenants and a phased payment structure completing by March 2025."
1. Parties: Identification and details of the seller and purchaser, including registration/incorporation details for companies
2. Background: Context of the transaction and brief property description
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the property, including the agreed purchase price
5. Property Description: Detailed description of the property including boundaries and built-up area
6. Purchase Price and Payment Terms: Detailed breakdown of the purchase price, payment schedule, and payment methods
7. Conditions Precedent: Conditions that must be satisfied before completion can occur
8. Seller's Representations and Warranties: Warranties regarding property title, encumbrances, litigation, etc.
9. Purchaser's Representations and Warranties: Warranties regarding capacity to purchase, funding sources, etc.
10. Covenants: Obligations of both parties before and after completion
11. Completion: Process and requirements for completing the transaction
12. Post-Completion Obligations: Actions required after completion, including registration and handover
13. Default and Termination: Consequences of default and circumstances allowing termination
14. Indemnification: Mutual indemnification provisions
15. Notices: Process and addresses for serving notices
16. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction
17. General Provisions: Standard boilerplate clauses including entire agreement, amendments, etc.
18. Execution: Signature blocks and execution formalities
1. Environmental Matters: Required when the property has potential environmental issues or requires specific compliance
2. Tax Matters: Detailed tax provisions when complex tax implications exist
3. Existing Tenancies: Required when the property has existing tenants and lease agreements
4. Development Rights: Included when transferring or reserving development rights
5. Foreign Investment Compliance: Required when either party is a foreign entity
6. Asset Transfer: Required when the sale includes business assets beyond the property
7. Intellectual Property Rights: Needed when the property includes naming rights or branded elements
8. Employee Matters: Required when the property sale includes transfer of employees
9. Escrow Arrangements: Included when using escrow mechanisms for the transaction
1. Property Details: Detailed property description, boundaries, and floor plans
2. Title Documents: List of title documents and their copies
3. Encumbrances: Details of existing mortgages, liens, or other encumbrances
4. Payment Schedule: Detailed breakdown of payment instalments and timelines
5. Due Diligence Reports: Summary of technical, legal, and financial due diligence findings
6. Existing Contracts: List and copies of relevant existing contracts affecting the property
7. Completion Checklist: List of documents and actions required for completion
8. Property Inventory: List of fixtures, fittings, and other items included in the sale
9. Required Approvals: List of governmental and regulatory approvals required
10. Form of Transfer Deed: Draft of the final transfer deed to be executed
Authors
Recitals
Definitions
Sale and Purchase
Property Description
Title
Purchase Price
Payment Terms
Conditions Precedent
Due Diligence
Representations and Warranties
Covenants
Environmental Compliance
Regulatory Compliance
Registration and Stamp Duty
Property Handover
Assignment
Force Majeure
Termination
Default
Indemnification
Insurance
Taxes
Existing Tenancies
Encumbrances
Property Inspection
Municipal Approvals
Utilities Transfer
Dispute Resolution
Governing Law
Jurisdiction
Notices
Confidentiality
Amendment
Severability
Entire Agreement
Waiver
Further Assurance
Costs and Expenses
Counterparts
Time of Essence
Real Estate
Banking and Financial Services
Manufacturing
Retail
Information Technology
Healthcare
Hospitality
Education
Logistics and Warehousing
Professional Services
Construction and Development
Legal
Finance
Real Estate
Operations
Facilities Management
Risk and Compliance
Corporate Development
Treasury
Tax
Business Development
Chief Executive Officer
Chief Financial Officer
Chief Legal Officer
Real Estate Director
Property Manager
Legal Counsel
Corporate Lawyer
Finance Director
Business Development Manager
Facilities Manager
Commercial Director
Risk Manager
Compliance Officer
Operations Director
Investment Manager
Asset Manager
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