Restaurant Asset Purchase Agreement Template for South Africa

1. Third Party Consents: Required when specific third-party approvals are needed for the transfer

2. Liquor License: Provisions for transfer of liquor license if the restaurant serves alcohol

3. Lease Assignment: Required when the restaurant premises are leased and the lease needs to be assigned

4. Non-Compete: Restrictions on seller's future competing activities

5. Training and Handover Period: Terms for seller providing training or transition assistance to purchaser

6. Intellectual Property: Required when specific IP rights like restaurant name or recipes are being transferred

7. Post-Closing Covenants: Specific obligations of parties after closing

8. Environmental Matters: Required when there are specific environmental concerns or compliance requirements

9. Bulk Transfer Laws: Required when bulk transfer regulations apply to the transaction

1. Schedule 1 - Assets: Detailed inventory of all assets included in the sale

2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale

3. Schedule 3 - Equipment and Fixtures: Detailed list of kitchen equipment, furniture, and fixtures

4. Schedule 4 - Contracts: List of contracts being assigned or transferred

5. Schedule 5 - Employees: List of employees and their employment terms

6. Schedule 6 - Permits and Licenses: List of operational permits and licenses

7. Schedule 7 - Inventory: List of inventory being transferred

8. Schedule 8 - Purchase Price Allocation: Breakdown of purchase price allocation across asset categories

9. Schedule 9 - Seller's Warranties: Detailed warranties given by the seller

10. Appendix A - Form of Transfer Documents: Templates for asset transfer documentation