Canada Share Purchase Agreement with Vendor Take-Back Provisions

Prepare a Share Purchase Agreement with Vendor Take-Back Provisions with this template form for Canadian corporations.

• A portion of the share purchase price will be paid by the purchaser to the vendor over time, secured by a promissory note.
• If the purchaser defaults, the promissory note will become due and the vendor may take back ownership of the shares (this is called vendor take-back).
• If the purchaser postpones consecutive payment, the second postponement will incur a late payment fee.
• The vendor's accountants will prepare closing financial statements.
• The purchaser must provide personal and corporate guarantees.
• The corporation's income taxes will be allocated between the parties in accordance with the closing.