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Standard Buy Sell Agreement
"I need a Standard Buy Sell Agreement for the sale of my technology manufacturing business in Auckland, with specific provisions for intellectual property rights transfer and employee transition, to be completed by March 2025."
1. Parties: Identifies and provides full legal details of the buyer and seller
2. Background: Sets out the context of the agreement and key assumptions
3. Definitions: Defines key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase, including the basic commercial terms
5. Purchase Price: Specifies the price, payment terms, and any adjustments
6. Conditions Precedent: Lists any conditions that must be satisfied before completion
7. Pre-Completion Obligations: Details what each party must do between signing and completion
8. Completion: Specifies the completion process, timing, and requirements
9. Warranties: Contains seller's warranties about the goods/assets being sold
10. Limitations of Liability: Sets out limitations on the seller's liability under the warranties
11. Confidentiality: Governs the treatment of confidential information
12. Dispute Resolution: Specifies how disputes will be resolved
13. General Provisions: Standard boilerplate clauses including notices, amendments, governing law
14. Execution: Signature blocks and execution formalities
1. GST: Required when the transaction is subject to GST, specifying GST treatment and obligations
2. Security Interest: Include when there are secured payments or retention of title arrangements
3. Due Diligence: Include when there is a due diligence period before final commitment
4. Post-Completion Obligations: Include when there are ongoing obligations after completion
5. Non-Competition: Include when restricting seller's future competitive activities
6. Intellectual Property: Include when IP rights are part of the sale
7. Employee Matters: Include when employees are affected by the sale
8. Insurance: Include when specific insurance requirements need to be maintained
1. Schedule 1 - Assets: Detailed list and description of assets being sold
2. Schedule 2 - Purchase Price Calculation: Detailed breakdown of purchase price components and calculations
3. Schedule 3 - Warranties: Detailed warranties given by the seller
4. Schedule 4 - Completion Obligations: Detailed list of what each party must deliver at completion
5. Schedule 5 - Excluded Assets: List of assets specifically excluded from the sale
6. Schedule 6 - Encumbrances: List of any encumbrances affecting the assets
7. Appendix A - Form of Transfer Documents: Templates for required transfer documentation
8. Appendix B - Disclosure Letter: Seller's disclosures against the warranties
Authors
Sale and Purchase
Purchase Price
Payment Terms
GST
Conditions Precedent
Due Diligence
Pre-Completion Obligations
Completion
Post-Completion Obligations
Warranties
Representations
Indemnities
Limitations of Liability
Security Interest
Title and Risk
Intellectual Property
Confidentiality
Non-Competition
Non-Solicitation
Employee Matters
Tax
Insurance
Force Majeure
Assignment
Default
Termination
Dispute Resolution
Notices
Governing Law
Entire Agreement
Variation
Waiver
Severability
Costs
Further Assurance
Retail
Manufacturing
Professional Services
Technology
Agriculture
Construction
Hospitality
Real Estate
Transport and Logistics
Healthcare
Education
Financial Services
Mining and Resources
Energy
Legal
Finance
Commercial
Operations
Procurement
Risk and Compliance
Corporate Services
Business Development
Sales
Executive Leadership
Company Secretariat
Chief Executive Officer
Chief Financial Officer
Commercial Director
Legal Counsel
Corporate Lawyer
Business Development Manager
Operations Manager
Finance Manager
Procurement Manager
Contract Manager
Risk Manager
Company Secretary
Managing Director
General Manager
Sales Director
Business Owner
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