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Business Sales Agreement Contract
I need a Business Sales Agreement Contract for the sale of my Dubai-based technology consulting company to a larger IT services corporation, including the transfer of 25 employees and various software licenses, with completion planned for March 2025.
1. Parties: Identification of the seller and buyer entities, including full legal names, registration numbers, and registered addresses
2. Background: Context of the transaction, brief description of the business being sold, and purpose of the agreement
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules of interpretation
4. Sale and Purchase: Core transaction terms including what is being sold and purchased
5. Purchase Price: Detailed breakdown of the purchase price, payment terms, and payment mechanics
6. Conditions Precedent: Conditions that must be satisfied before completion of the sale
7. Completion: Details of when, where, and how completion will take place, including completion obligations
8. Seller's Warranties: Standard warranties given by the seller regarding the business
9. Buyer's Warranties: Standard warranties given by the buyer regarding capacity to purchase and funding
10. Limitations on Liability: Limitations on the parties' liability under the warranties and indemnities
11. Confidentiality: Obligations regarding confidential information and announcements
12. Non-Competition: Restrictions on the seller's ability to compete with the business post-sale
13. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction details
14. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Employee Matters: Provisions dealing with transfer of employees - required if employees are being transferred
2. Intellectual Property: Detailed IP transfer provisions - required if significant IP assets are involved
3. Real Estate: Provisions dealing with property transfer or assignment - required if real estate is involved
4. Post-Completion Adjustments: Mechanisms for adjusting the purchase price post-completion - used for complex transactions
5. Tax Covenant: Specific tax-related warranties and indemnities - required for share sales or complex asset sales
6. Transitional Services: Provisions for post-completion services by seller - required if ongoing support is needed
7. Third Party Consents: Provisions dealing with obtaining required third-party approvals - required if key contracts need assignment
8. Islamic Finance Provisions: Specific provisions ensuring Sharia compliance - required if Islamic financing is involved
1. Business Assets Schedule: Detailed list of all assets included in the sale
2. Excluded Assets Schedule: List of assets specifically excluded from the sale
3. Intellectual Property Schedule: Detailed list of all IP rights being transferred
4. Employee Schedule: List of employees and their key employment terms
5. Material Contracts Schedule: List of key contracts being transferred or assigned
6. Properties Schedule: Details of any real estate involved in the transaction
7. Warranties Schedule: Detailed warranties given by the seller
8. Completion Obligations Schedule: Detailed list of actions required at completion
9. Form of Transfer Documents: Templates for various transfer documents required at completion
Authors
Retail
Manufacturing
Technology
Professional Services
Healthcare
Real Estate
Construction
Hospitality
Financial Services
Transportation and Logistics
Energy
Education
Media and Entertainment
Telecommunications
Agricultural Business
Legal
Finance
Corporate Development
Mergers & Acquisitions
Executive Leadership
Risk and Compliance
Operations
Treasury
Business Development
Corporate Secretariat
Chief Executive Officer
Chief Financial Officer
Managing Director
General Counsel
Legal Director
Corporate Lawyer
Business Development Director
Mergers & Acquisitions Director
Finance Director
Company Secretary
Commercial Director
Operations Director
Risk Manager
Compliance Officer
Treasury Manager
Board Member
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