Buy Sell Agreement Cross Purchase

Buy Sell Agreement Cross Purchase Template for Philippines

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5

4.8 / 5

Let's create your Buy Sell Agreement Cross Purchase

1. Select your governing law and document type:

2. Enter your key requirements:

3. Create your document to edit, review or download

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

"I need a Buy-Sell Agreement (Cross Purchase) for our family-owned manufacturing business in Manila, with four equal shareholders, to be funded by life insurance policies, with transfer completion required by March 2025."

Document background

The Buy-Sell Agreement Cross Purchase is a crucial document for businesses operating in the Philippines, particularly for closely-held corporations and family-owned businesses. It serves as a legally binding arrangement between shareholders, establishing their rights and obligations regarding the purchase and sale of company shares. The agreement becomes operational when specific trigger events occur, such as death, disability, retirement, or voluntary departure of a shareholder. This type of agreement is essential for business succession planning, ensuring smooth ownership transitions, and preventing shares from being transferred to unwanted third parties. Under Philippine jurisdiction, the agreement must comply with the Corporation Code, Civil Code, and relevant tax regulations. It typically includes detailed provisions for share valuation, payment mechanisms, and transfer procedures, while also addressing corporate governance requirements specific to Philippine law.

Suggested Sections

1. Parties: Identification of all shareholders participating in the buy-sell agreement

2. Background: Context of the agreement, including company details and current shareholding structure

3. Definitions: Key terms used throughout the agreement, including technical and financial terms

4. Purchase Obligation: Core obligations of surviving/remaining shareholders to purchase shares upon trigger events

5. Trigger Events: Circumstances that activate the buy-sell provisions (death, disability, retirement, etc.)

6. Purchase Price: Methodology for determining the share price and valuation procedures

7. Payment Terms: Terms and conditions for payment, including timing and installment provisions

8. Transfer Procedure: Process and requirements for executing the share transfer

9. Corporate Approvals: Required approvals from board, shareholders, or regulatory bodies

10. Tax Provisions: Allocation of tax responsibilities and requirements

11. Representations and Warranties: Statements of fact and guarantees by the parties

12. Term and Termination: Duration of the agreement and circumstances for termination

13. Governing Law: Specification of Philippine law as governing law and jurisdiction

14. Dispute Resolution: Procedures for resolving disputes between parties

15. General Provisions: Standard clauses including notices, amendments, and severability

Optional Sections

1. Insurance Provisions: Details of life insurance policies funding the agreement - include if life insurance is used as funding mechanism

2. Right of First Refusal: Provisions giving existing shareholders priority rights to purchase - include if additional transfer restrictions are desired

3. Drag-Along Rights: Rights forcing minority shareholders to join in sale - include for majority shareholder protection

4. Tag-Along Rights: Rights allowing minority shareholders to join in sale - include for minority shareholder protection

5. Non-Competition: Restrictions on competing business activities - include if business protection is needed

6. Confidentiality: Provisions protecting company and transaction confidentiality - include if sensitive information is involved

7. Family Member Provisions: Special provisions for family member transfers - include for family-owned businesses

Suggested Schedules

1. Schedule A - Current Shareholding: Details of current share ownership and distribution

2. Schedule B - Valuation Formula: Detailed methodology for calculating share value

3. Schedule C - Insurance Policies: Details of life insurance policies if used for funding

4. Schedule D - Transfer Notice Form: Standard form for initiating share transfer process

5. Schedule E - Corporate Documents: Relevant corporate documents including Articles of Incorporation and By-laws

6. Appendix 1 - Deed of Adherence: Template for new shareholders to join the agreement

7. Appendix 2 - Share Certificate Form: Template for new share certificates

8. Appendix 3 - Board Resolution Template: Template for required board approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Professional Services

Manufacturing

Retail

Technology

Healthcare

Real Estate

Construction

Family Business

Agriculture

Tourism

Financial Services

Food and Beverage

Transportation and Logistics

Education

Media and Entertainment

Relevant Teams

Legal

Corporate Secretariat

Finance

Executive Management

Board of Directors

Risk Management

Compliance

Corporate Governance

Business Development

Shareholder Relations

Relevant Roles

Chief Executive Officer

Managing Director

Business Owner

Company Director

Corporate Secretary

Chief Financial Officer

Legal Counsel

Corporate Lawyer

Shareholder

Board Member

Managing Partner

Family Business Owner

Business Succession Planner

Corporate Finance Manager

Risk Management Officer

Find the exact document you need

Real Estate Selling Contract Form

A standardized contract for real estate sales in the Philippines, ensuring compliance with local property laws while facilitating proper transfer of ownership.

��������Ƶ

How ��������Ƶ reduced drafting time by 75% for a legal firm

Let's create your Buy Sell Agreement Cross Purchase

Authors

Alex Denne

Find the exact document you need

Real Estate Selling Contract Form

Car Purchase Agreement (Real Estate)

Buy Sell Contract Form

Purchase Agreement For Vacant Lot

Buy Sell Car Agreement Form

Land Buying Agreement Form

Sell Agreement Of Land

Realty Purchase Agreement

Purchase Sale Agreement Commercial (Real Estate)

Buy Sell Agreement Life (Insurance)

Vehicle Sales And Purchase Agreement

Assignment Of Purchase And Sale Agreement Form

Agreement For Sale Of Business

Real Estate Buyer Seller Agreement Form

Private Party Auto Purchase Agreement

Real Estate Contract Of Sale

Sell Agreement

Conditional Purchase Agreement

Agreement For Purchase And Sale Of Real Property

Simple Lot Purchase Agreement

House Selling Agreement Form

Residential Sale And Purchase Contract

Standard House Purchase Contract

Standard Land Purchase And Sale Agreement

Contract For Selling A Car In Payments

Purchase And Resale Agreement

Agreement For Sale Of Agricultural Land

Property Sale Contract Between Seller And Buyer

Residential Contract For Sale And Purchase

Private Land Purchase Agreement

Standard Sale And Purchase Agreement

Short Sale Purchase Agreement

Agreement For Sale Of Motor Vehicle

Simple Real Estate Sales Agreement

As Is Contract For Sale And Purchase

Commercial Property Purchase And Sale Agreement

Lot Purchase Contract

Sale Purchase Form

Residential Sale Contract

Intent To Sell Agreement

Buy Sell Agreement For A House

Asset Purchase Agreement Installment Payments

As Is Home Purchase Agreement

Agreement Of Purchase And Sale Condominium

Residential Real Estate Purchase Agreement

Simple Real Estate Purchase Contract

Purchase Agreement Mobile Home Bill Of Sale

Home Sale Agreement

Sale Contract Agreement

Agreement To Sell Real Estate Contract

Purchase Agreement Personal Property

Legal Real Estate Contract

Vacant Land Purchase Contract

International Purchase Contract

Buy Sell Agreement Cross Purchase

Real Estate Contract Form

Purchase And Sale Agreement Oil And Gas

Land Purchase And Sale Agreement

Equipment Purchase And Sale Agreement

Building Purchase Agreement

Purchase Agreement For Commercial Property

Deed Of Sale Contract

Offer Purchase Contract

Boat Purchase Agreement

Installment Purchase Contract

Standard Purchase And Sale Agreement

Real Estate Addendum Form

Download our whitepaper on the future of AI in Legal

�ұ�Ծ���’s Security Promise

Your documents are private:

Your documents are protected:

Organizational security

Innovation in privacy:

Want to know more?

��Ƶ

How ��Ƶ reduced drafting time by 75% for a legal firm

�ұ�Ծ��’s Security Promise