抖阴短视频

Member Interest Purchase Agreement Template for Philippines

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Key Requirements PROMPT example:

Member Interest Purchase Agreement

"I need a Member Interest Purchase Agreement for the sale of 40% membership interest in my Manila-based tech startup to a local investor, with closing planned for March 2025 and including standard representations about our intellectual property and client contracts."

Document background
The Member Interest Purchase Agreement is a crucial document used in Philippine business transactions when one or more members of a company wish to sell their membership interests to other parties. This agreement is essential for properly documenting ownership transfers in compliance with the Revised Corporation Code of the Philippines and related regulations. It becomes particularly important in contexts involving foreign investment, where additional regulatory requirements may apply under the Foreign Investments Act. The document typically includes detailed provisions on valuation, payment terms, representations and warranties, and closing conditions, while addressing specific Philippine law requirements such as foreign ownership restrictions in certain industries and mandatory governmental approvals. It serves as the primary transaction document in membership interest transfers and should be carefully drafted to ensure enforceability under Philippine law and protection of all parties' interests.
Suggested Sections

1. Parties: Identification of the Seller(s) and Purchaser(s) of the membership interests, including complete legal names and addresses

2. Background: Context of the transaction, description of the company whose interests are being transferred, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase of Membership Interest: Core transaction terms including the percentage/amount of interest being sold and purchased

5. Purchase Price: Details of the purchase price, payment terms, and payment mechanics

6. Closing: Closing date, conditions precedent, and closing deliverables

7. Representations and Warranties of Seller: Seller's statements regarding ownership, authority, and company status

8. Representations and Warranties of Purchaser: Purchaser's statements regarding authority and capability to complete the transaction

9. Covenants: Pre-closing and post-closing obligations of the parties

10. Indemnification: Terms for compensating parties for losses arising from breaches

11. Termination: Circumstances under which the agreement may be terminated

12. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction for disputes

13. Miscellaneous: Standard provisions including notices, amendments, entire agreement, and severability

Optional Sections

1. Foreign Ownership Compliance: Required when the purchaser is a foreign entity, addressing compliance with Philippine foreign ownership restrictions

2. Tax Matters: Detailed section on tax responsibilities when complex tax implications exist

3. Employee Matters: Required when the transaction affects employment agreements or employee benefits

4. Intellectual Property: Needed when the company owns significant IP assets

5. Real Property: Required when the company owns or leases significant real estate

6. Regulatory Approvals: Needed when the transaction requires specific regulatory clearances

7. Non-Competition: Optional restrictions on seller's future competitive activities

8. Transition Services: Required when the seller will provide post-closing operational support

Suggested Schedules

1. Schedule A - Company Information: Detailed information about the company, including corporate documents and structure

2. Schedule B - Membership Interests: Details of the membership interests being transferred

3. Schedule C - Purchase Price Calculation: Detailed breakdown of purchase price and any adjustments

4. Schedule D - Encumbrances: List of any liens, encumbrances, or restrictions on the membership interests

5. Schedule E - Required Consents: List of third-party consents required for the transfer

6. Schedule F - Disclosure Schedule: Exceptions to representations and warranties

7. Appendix 1 - Closing Deliverables: List of all documents to be delivered at closing

8. Appendix 2 - Form of Transfer Instruments: Forms of documents to effect the transfer

9. Appendix 3 - Corporate Resolutions: Required corporate approvals and resolutions

Authors

Alex Denne

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

Relevant legal definitions















































Clauses







































Relevant Industries

Financial Services

Technology

Manufacturing

Real Estate

Professional Services

Retail

Healthcare

Energy

Agriculture

Construction

Transportation

Hospitality

Education

Media and Entertainment

Relevant Teams

Legal

Finance

Corporate Secretariat

Compliance

Corporate Development

Mergers & Acquisitions

Executive Leadership

Business Development

Investment

Risk Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Corporate Secretary

General Counsel

Legal Director

Corporate Lawyer

Managing Partner

Business Development Director

Investment Manager

Compliance Officer

Finance Director

Company Director

Board Member

Mergers & Acquisitions Manager

Private Equity Manager

Business Owner

Managing Director

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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