AI Generated American Business Purchase Agreement
Business Purchase Agreement
1. Cover Page
Sets forth the title of the agreement, date, and high-level transaction reference information.
2. Table of Contents
Provides a navigational outline of all sections, schedules, and exhibits of the agreement.
3. Parties
Identifies each party to the agreement, its legal form, jurisdiction of organization, and principal business address.
4. Recitals
States the background facts, intent of the parties, and purpose of the transaction.
5. Definitions
Lists and explains defined terms used throughout the agreement for clarity and consistency.
6. Purchase and Sale of Business
Describes the assets, equity interests, or other property being sold and the nature of the transfer.
7. Purchase Price
Sets the total consideration to be paid by the buyer for the business.
8. Allocation of Purchase Price
Specifies how the purchase price will be apportioned among assets for tax and accounting purposes.
9. Adjustments to Purchase Price
Provides formulas and mechanisms for working-capital, inventory, or other post-closing adjustments.
10. Payment Terms
Details the form, timing, method, and place of payment of the purchase price.
11. Earn-Out Payments
Sets forth any contingent, performance-based payments and related calculation and dispute procedures.
12. Closing
Defines the date, time, and place of closing and the actions to occur simultaneously.
13. Closing Deliveries
Lists documents, instruments, certificates, and other items each party must deliver at closing.
14. Representations and Warranties of Seller
Seller’s statements of fact covering authority, title, financials, contracts, liabilities, compliance, etc.
15. Representations and Warranties of Buyer
Buyer’s statements of fact covering authority, financing, compliance, and ability to consummate the transaction.
16. Representations and Warranties of Guarantors
If applicable, statements made by any guarantor regarding authority and enforceability of its obligations.
17. Covenants of Seller
Obligations Seller must perform before and after closing, such as operating restrictions and transition duties.
18. Covenants of Buyer
Obligations Buyer must perform before and after closing, including obtaining financing and cooperation.
19. Mutual Covenants
Covenants applicable to both parties, such as regulatory filings and confidentiality.
20. Pre-Closing Covenants
Specific duties each party must satisfy between signing and closing to facilitate the transaction.
21. Post-Closing Covenants
Obligations that survive closing, including cooperation on audits, tax matters, and record retention.
22. Conditions Precedent to Buyer’s Obligations
Enumerates conditions that must be satisfied or waived before Buyer is required to close.
23. Conditions Precedent to Seller’s Obligations
Enumerates conditions that must be satisfied or waived before Seller is required to close.
24. Bulk Sales Compliance
Addresses compliance with any applicable bulk sales or bulk transfer laws.
25. Consents and Approvals
Details third-party and governmental consents required for the transaction.
26. Third-Party Contracts and Assignments
Covers assignment of contracts, notices, and required novations.
27. Tax Matters
Allocates responsibility for taxes, filings, cooperation, and tax indemnification.
28. Employee and Benefit Plan Matters
Addresses employee offers, benefit plans, severance, continuation coverage, and related liabilities.
29. Labor Matters
Covers union relationships, collective bargaining agreements, and labor disputes.
30. Environmental Matters
Allocates responsibilities and disclosures regarding environmental compliance and liabilities.
31. Intellectual Property Matters
Addresses ownership, transfer, licenses, and protection of intellectual property rights.
32. Real Property Matters
Details transfer or lease of real property, title, surveys, and related representations.
33. Accounts Receivable and Payable
Specifies treatment of receivables and payables and collection procedures.
34. Financial Statements and Records
Requires delivery and accuracy of financial statements and underlying records.
35. Inventory Matters
Addresses valuation, physical counts, and ownership of inventory.
36. Title and Ownership
Confirms Seller’s good title to assets or shares being transferred and absence of liens.
37. Risk of Loss
Allocates risk of casualty or loss to the assets between signing and closing.
38. Insurance
Provides for continuation, assignment, or cancellation of insurance policies.
39. Confidentiality
Requires parties to keep non-public transaction information confidential.
40. Non-Competition
Restricts Seller and related parties from competing with the business for a specified period and area.
41. Non-Solicitation
Restricts solicitation of customers, suppliers, or employees post-closing.
42. Access to Information
Grants Buyer ongoing access to records and personnel to verify representations and integration.
43. Books and Records
Specifies retention, hand-over, and future access to business books and records.
44. Transition Services
Outlines any services Seller will provide to assist Buyer after closing.
45. Use of Business Name and Trademarks
Regulates Seller’s post-closing use of trademarks, trade names, and branding.
46. Public Announcements
Controls timing and content of press releases and other public disclosures regarding the transaction.
47. Indemnification by Seller
Obligates Seller to indemnify Buyer for specified losses, breaches, and liabilities.
48. Indemnification by Buyer
Obligates Buyer to indemnify Seller for specified losses and liabilities.
49. Indemnification Procedures
Sets the notice, defense, and settlement procedures for indemnification claims.
50. Limitations on Indemnification
Caps, baskets, and survival periods that limit indemnification obligations.
51. Set-Off Rights
Allows one party to offset indemnity claims against amounts otherwise payable.
52. Termination
Specifies the grounds, method, and effect of terminating the agreement before closing.
53. Effects of Termination
Details obligations and liabilities that survive or are extinguished upon termination.
54. Remedies
Enumerates available legal and equitable remedies for breach, including damages and injunctions.
55. Specific Performance
Provides that parties may compel performance of obligations through court order.
56. Governing Law
Designates the state law that governs interpretation and enforcement of the agreement.
57. Jurisdiction and Venue
Specifies courts or arbitral forums with authority over disputes.
58. Waiver of Jury Trial
Parties waive the right to a jury trial for disputes arising under the agreement.
59. Alternative Dispute Resolution
Sets forth mediation or arbitration procedures if elected by the parties.
60. Notices
Defines the method and deemed receipt of formal notices between the parties.
61. Expenses
Allocates responsibility for each party’s transaction expenses and fees.
62. Taxes and Fees
Specifies who pays transfer, sales, use, and recording taxes and filing fees.
63. Brokers and Finders
Addresses payment of any brokerage or finder’s fees and related indemnities.
64. Successors and Assigns
Binds and benefits the parties’ successors and permitted assigns.
65. Third-Party Beneficiaries
States whether any non-party may enforce provisions of the agreement.
66. Entire Agreement
Declares that the agreement and its exhibits constitute the complete understanding of the parties.
67. Amendments
Sets requirements for modifying the agreement after execution.
68. Waivers
Allows parties to relinquish rights under the agreement in writing and under defined conditions.
69. Severability
Provides that unenforceable provisions will be modified or severed without invalidating the remainder.
70. Interpretation
Establishes rules of construction such as currency, accounting terms, and drafting conventions.
71. Headings
Clarifies that headings are for convenience and do not affect interpretation.
72. Counterparts
Permits execution of multiple counterparts that together constitute one instrument.
73. Electronic Signatures
Authorizes electronic signatures and delivery of documents by electronic means.
74. Force Majeure
Excuses performance delays caused by events beyond the parties’ reasonable control.
75. Further Assurances
Obligates parties to execute additional documents necessary to carry out the transaction.
76. Survival of Representations and Warranties
Specifies the period during which representations, warranties, and covenants survive closing.
77. Schedules and Exhibits
Introduces the detailed schedules and exhibits that form part of the agreement.
78. Miscellaneous
Captures additional provisions not covered elsewhere, such as time of essence, no presumption against drafter, etc.
79. Signatures
Contains the signature blocks where authorized representatives execute the agreement.
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Su Business Purchase Agreement será formateado según los estándares profesionales, incluyendo encabezados, números de cláusula y un diseño estructurado. No se requiere más edición.
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¿Qué es un Business Purchase Agreement?
A Business Purchase Agreement, also known as a business sale agreement, is a legally binding contract used to transfer ownership of a business from a seller to a buyer in the United States. It outlines critical details including the terms of sale, pricing, asset allocation, and any conditional aspects or warranties involved in the transaction. By employing our AI-powered solution, you can generate a comprehensive and tailored agreement ensuring compliance with U.S. business law, thus facilitating a smooth transition between parties.
Legislación de Cumplimiento
Your document will be checked for compliance against the following legislation and regulations:
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Companies Act 2006
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Financial Services and Markets Act 2000
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The Acquisition and Disclosure of Voting Rights Directive (DTR 5)
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Takeover Code
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UK Listing Rules
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Market Abuse Regulation (MAR)
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Taxation of Chargeable Gains Act 1992
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Employment Rights Act 1996
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Consumer Rights Act 2015
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Anti-Money Laundering Regulations 2017
Preguntas Frecuentes
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