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Partnership Sale Agreement
"I need a Partnership Sale Agreement for the sale of my 25% interest in a Manila-based accounting firm to an existing partner, with completion planned for March 2025 and payment in three installments."
1. Parties: Identification of the Seller(s) and Buyer(s) of the partnership interest, including their complete legal names and addresses
2. Background: Context of the transaction, including details about the partnership, its business, and the reason for the sale
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core terms of the transaction, including the partnership interest being sold and confirmation of the transfer
5. Purchase Price: Detailed breakdown of the purchase price and payment terms
6. Completion: Details of when and how the transfer will be completed, including any conditions precedent
7. Seller's Warranties: Warranties regarding the partnership interest, authority to sell, and status of the business
8. Buyer's Warranties: Warranties regarding authority to purchase and financial capacity
9. Pre-Completion Obligations: Obligations of both parties before the completion date
10. Post-Completion Obligations: Ongoing obligations after the transfer is completed
11. Confidentiality: Provisions regarding confidential information and its protection
12. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction for disputes
13. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Tax Provisions: Detailed tax arrangements and responsibilities - include when there are specific tax implications or arrangements between parties
2. Non-Competition: Restrictions on the seller's future business activities - include when protecting the partnership's business interests is crucial
3. Intellectual Property: Specific provisions regarding IP rights - include when the partnership owns significant IP assets
4. Employee Matters: Provisions regarding employees and their rights - include when there are significant employment considerations
5. Foreign Investment Compliance: Specific provisions ensuring compliance with foreign investment laws - include when foreign parties are involved
6. Earn-out Provisions: Structure for additional payments based on future performance - include when part of the purchase price is contingent on future events
7. Partner Approval: Provisions regarding obtaining other partners' approval - include when required by partnership agreement
1. Schedule 1 - Partnership Interest Details: Detailed description of the partnership interest being sold
2. Schedule 2 - Purchase Price Calculation: Detailed breakdown of how the purchase price was calculated
3. Schedule 3 - Partnership Assets: List of major assets owned by the partnership
4. Schedule 4 - Completion Requirements: Checklist of documents and actions required for completion
5. Schedule 5 - Existing Contracts: List of material contracts affecting the partnership
6. Appendix A - Partnership Agreement: Copy of the existing partnership agreement
7. Appendix B - Financial Statements: Recent financial statements of the partnership
8. Appendix C - Required Consents: List of required third-party consents and approvals
Authors
Professional Services
Legal Services
Accounting & Audit
Medical Practices
Architecture & Design
Engineering Consultancy
Real Estate
Manufacturing
Retail & Distribution
Technology & Software
Management Consulting
Financial Services
Legal
Finance
Corporate Secretariat
Compliance
Risk Management
Business Development
Corporate Affairs
Executive Leadership
Operations
Administrative
Managing Partner
Senior Partner
Partner
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Corporate Secretary
Business Development Director
Finance Director
Commercial Director
Risk Manager
Compliance Officer
Partnership Administrator
Business Owner
Managing Director
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