Document background
The Share Sale Agreement is a crucial document used in Philippine corporate transactions when transferring ownership of shares in a corporation. It serves as the primary contract governing the terms and conditions under which shares are sold from one party to another, whether in whole or in part. This document is essential for both private and public companies operating under Philippine jurisdiction and must comply with various regulations including the Corporation Code, Securities Regulation Code, and tax laws. The agreement typically includes detailed provisions on share valuation, payment terms, representations and warranties, conditions precedent, and completion mechanics. It's particularly important for documenting compliance with Philippine foreign ownership restrictions when applicable, and ensuring proper corporate governance in share transfer transactions.
