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Seller Financing Business Contract
"I need a Seller Financing Business Contract for the sale of my manufacturing business in Singapore, with a purchase price of SGD 2.5 million, where I'll provide 70% seller financing over 5 years starting March 2025, and I want to include strong security provisions and monthly repayment terms."
1. Parties: Identifies and defines all parties to the contract including legal status and addresses
2. Background/Recitals: States the context and purpose of the agreement, including details of the business being sold
3. Definitions: Defines key terms used throughout the agreement
4. Purchase Price and Payment Terms: Details the total purchase price, down payment, and financing structure
5. Interest Rate and Repayment Schedule: Specifies interest rate, payment dates, and amortization schedule
6. Security and Collateral: Details assets or guarantees securing the financed amount
7. Default Provisions: Defines events of default and consequences
8. Representations and Warranties: Legal assurances from both parties
9. Governing Law: Specifies Singapore law as governing law
1. Insurance Requirements: Required insurance coverage for business assets - used when significant physical assets are involved
2. Non-Compete Provisions: Restrictions on seller's future business activities - used when protecting goodwill is crucial
3. Training and Transition: Terms for business handover and training - used when specialized knowledge transfer is needed
4. Third-Party Consents: Requirements for obtaining third-party approvals - used when contracts/licenses require consent for transfer
1. Payment Schedule: Detailed amortization table showing payment dates and amounts
2. Asset Schedule: Itemized list of business assets included in sale
3. Security Documents: Forms of security documents, personal guarantees
4. Due Diligence Report: Summary of business evaluation and verification
5. Financial Statements: Recent business financial statements and projections
6. Contracts Schedule: List of existing contracts being transferred
Authors
Business
Business Assets
Business Day
Closing Date
Completion
Confidential Information
Default Event
Down Payment
Effective Date
Encumbrance
Financial Statements
Financing Amount
Goodwill
Intellectual Property Rights
Interest Rate
Material Adverse Change
Outstanding Balance
Payment Date
Payment Schedule
Permitted Encumbrances
Principal Amount
Purchase Price
Related Companies
Repayment Schedule
Security
Security Documents
Seller Financing
SGD
Singapore Dollars
Taxes
Term
Transaction Documents
Transfer
Warranties
Payment Terms
Interest and Fees
Security and Collateral
Representations and Warranties
Covenants
Conditions Precedent
Default Events
Remedies
Transfer of Business
Due Diligence
Confidentiality
Non-Competition
Non-Solicitation
Insurance
Assignment
Force Majeure
Indemnification
Termination
Notices
Amendments
Entire Agreement
Severability
Waiver
Governing Law
Dispute Resolution
Third Party Rights
Costs and Expenses
Further Assurance
Business Transition
Employee Matters
Tax Provisions
Intellectual Property Rights
Compliance with Laws
Record Keeping
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