Buying or selling a business can be a complicated process. Let us give you a hand with these affordable template contracts, forms and checklists.
When you buy or sell a business, it's not just the employees, plant and inventory that gets transferred. It is also the customers, the goodwill, the brand, the corporate culture, and all the intangibles that form the relationship between the business and its community. Much of that culture has been developed and handed down by the originators of the business.
If you are the buyer, ask yourself if you will be able to maintain the relationships that the previous owner has formed, and continue to build the brand going forward. If you're the seller, how important is it to you that the culture, vision and goals of the business be preserved by the new owner?
Buy an RV park in Arizona with this comprehensive Purchase and Sale Agreement template.
The property being sold includes the land on which the park is located, all personal property belonging to the business, leases and intangibles, the business name, licenses and permits, and all documentation connected with the development and operation of the RV park.
The buyer will have a specified time period during which to inspect the site and perform its due diligence. The sale is conditional upon a satisfactory due diligence, and the buyer will have the right to terminate the agreement during this period upon written notice to the seller.
The parties will each be responsible for their own closing costs.
All taxes, rents, income, costs and assessments for the year will be prorated as of the closing date.
The parties mutually indemnify each other against claims and liabilities.
Earnest money deposits will be held by the escrow agent until closing, with interest accruing to the buyer.
You can easily customize the Arizona RV Park Purchase and Sale Agreement to meet your specific requirements. Save hundreds on legal fees by doing it yourself.
This is an optional Consent of Third Party clause which can be inserted into an Asset Purchase and Sale Contract, for circumstances where the consent of a party other than the purchaser or seller is required before the assets can be assigned.
Download the clause in MS Word format, or copy and paste the text below.
Consent of Third Party Required for Assignment of Assets
Notwithstanding any other provision contained herein, if any of the Purchased Assets shall only be assignable with the consent or approval of any other third party (a "Third Party Consent"), the Vendor shall not be considered to be in breach of any of its obligations or to be in breach of any representation or warranty made with respect to this Agreement provided that within ________ days of the Closing Date, the Vendor shall:
(a) use all reasonable efforts, in cooperation with the Purchaser, to secure any Third Party Consent required in connection with the assignment of such Purchased Assets; and
(b) pending the effective transfer thereof, hold all rights or entitlements to such Purchased Assets in trust for the exclusive benefit of the Purchaser, provided that the Purchaser shall pay, perform and discharge all obligations arising or accruing with respect thereto during the time that the Vendor shall hold such Purchased Assets in trust.
An Assumption of Obligations Agreement is used in the purchase of a business when a buyer has agreed to assume the obligations and liabilities of the business following the closing.
The purchaser agrees to assume and perform the obligations specified in the agreement after the closing.
Each of the parties indemnifies the other party against claims or actions, with the seller indemnifying the buyer up until the time of closing, and the buyer indemnifying the seller from the time of closing on.
This Assumption of Obligations Agreement is not country-specific and can be used anywhere. Downloadable and editable to meet your needs.