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Agreement To Split Proceeds Of Sale
"I need an Agreement to Split Proceeds of Sale under Swiss law for a jointly-owned art collection being sold at auction in March 2025, with proceeds to be split 60-40 between two private collectors, including provisions for auction house fees and export taxes."
1. Parties: Identification and details of all parties to the agreement
2. Background: Context of the agreement, including description of the asset(s) to be sold and existing relationship between parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter: Description of the asset(s) whose proceeds are to be split and confirmation of ownership rights
5. Calculation of Proceeds: Method for calculating net proceeds, including deductions for costs and expenses
6. Distribution Mechanism: Specific percentages or amounts to be distributed to each party and the order of distribution
7. Payment Terms: Timing, method, and currency of payments, including bank account details
8. Parties' Obligations: Specific duties of each party regarding the sale process and distribution
9. Representations and Warranties: Statements of fact and promises made by each party
10. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
11. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction for disputes
12. Miscellaneous: Standard boilerplate provisions including notices, amendments, and severability
1. Tax Provisions: Include when parties need specific arrangements for handling tax implications of the proceeds distribution
2. Intermediary Arrangements: Include when a third party (e.g., escrow agent or bank) will handle the proceeds
3. Security Arrangements: Include when security is required to guarantee payment obligations
4. Conditions Precedent: Include when distribution is subject to specific conditions being met
5. Non-Competition: Include when parties need restrictions on competing activities after the sale
6. Confidentiality: Include when sensitive information about the sale needs protection
7. Force Majeure: Include when parties want specific provisions for handling unforeseen circumstances
1. Schedule 1 - Asset Description: Detailed description of the asset(s) to be sold
2. Schedule 2 - Distribution Formula: Detailed calculation method for proceeds distribution
3. Schedule 3 - Costs and Expenses: List of agreed deductible costs and expenses
4. Schedule 4 - Payment Details: Bank account and payment routing information for all parties
5. Appendix A - Power of Attorney: If required, authorization for parties to act on behalf of others
6. Appendix B - Supporting Documents: Copies of relevant ownership certificates or prior agreements
Authors
Real Estate
Private Equity
Investment Management
Commercial Property
Technology
Manufacturing
Professional Services
Retail
Construction
Hospitality
Art and Collectibles
Financial Services
Legal
Finance
Corporate Development
Investment
Real Estate
Compliance
Tax
Business Development
Asset Management
Treasury
Risk Management
Chief Financial Officer
Legal Counsel
Investment Manager
Business Development Director
Real Estate Manager
Corporate Lawyer
Finance Director
Investment Analyst
Property Manager
Asset Manager
Partnership Manager
Compliance Officer
Tax Advisor
Business Owner
Managing Partner
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