Asset Purchase Provisions for Management by Purchaser
Add these provisions to your Asset Purchase and Sale Agreement to provide for management of the business by the purchaser in the period prior to the closing.
- The purchaser will take over managing the business between the effective date of the Asset Purchase Agreement and the closing date.
- The provisions set out the particulars of how the business is to be operated, and what the purchaser's responsibilities are.
- Accounts receivable remain the property of the vendor (seller), and the vendor is responsible for invoicing and collecting the receivables.
- The Asset Purchase Provisions for Management by Purchaser can be used as a means to smoothly transition the business operations from the seller to the buyer without interruption.
- Available in MS Word format.
Mutual Release for Asset Purchase and Sale
Whether you're selling or buying a business, you can protect yourself against claims by the other party in the transaction with this Mutual Release for Asset Purchase and Sale.
- The Release must be signed by both the purchaser and the seller.
- Each party releases the other party from claims or demands with respect to the transaction.
- This is a generic legal form which can be used anywhere.
- In today's world, it's always better to be safe than sorry. Buy and download the Mutual Release for Asset Purchase and Sale before you sign on the dotted line.
No Finder's Fee Clause for Asset Purchase Agreement
Insert this No Finder's Fee clause into an Asset Purchase Agreement for a transaction which has no commission or finder's fee payable on the sale.
Download the free file in MS Word format, or copy and paste the text below.
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NO FINDER'S FEES
The Vendor and the Purchaser do hereby warrant each to the other than neither has done any act which would incur or require the payment of any finder's fees or commissions of any nature whatever payable either in connection with this Agreement, any matter or thing contemplated hereby or the transaction of purchase and sale provided for herein.
Promissory Note for Asset Purchase or Rollover | Canada
Secure the balance payable to the vendor under an asset purchase or rollover agreement with this Promissory Note form for Canadian businesses.
- No interest will accrue on the principal balance prior to default or maturity.
- The full amount outstanding will become due and payable on demand if the purchaser declares bankruptcy, ceases to do business, or otherwise defaults under the terms of the Note.
- The balance may be totally or partially prepaid without bonus or penalty.
- Available in MS Word format.
- Intended to be used only in Canada.
Letter of Intent to Purchase Business Assets | Canada
Negotiate the purchase of a Canadian business with this Letter of Intent to Purchase Assets of Business template for Canada.
A letter of intent (LOI) is not a legal contract, except for certain provisions such as confidentiality clauses which prohibit either party from disclosing any confidential information belonging to the other party. A signed letter of intent signals to other interested parties that you are already in negotiations to buy the business.
Purpose of this Letter of Intent
This Letter of Intent sets out the negotiations between the parties related to the buyer's offer to purchase all of the assets and goodwill of the business from the seller.
Expiration of LOI
If the parties fail to execute a formal Purchase & Sale Agreement within a specified number of days, the letter of intent will expire.
Failure to Complete Transaction
If the seller fails to go through with the transaction for no reason, the seller agrees to pay the buyer's costs and a specified amount as liquidated damages.
Format and Scope of Use
The Letter of Intent form is available in MS Word format and is fully editable and reusable. This LOI can be used in any Canadian province or territory.
Promissory Note for Interest-Free Loan | Canada
Are you making an interest-free loan to a friend or family member in Canada? Have them sign this Demand Promissory Note.
When would I need to use this Promissory Note form?
If you lend money to a family member or close friend, you may decide not to charge them interest on the loan balance. Even so, it is important to secure a formal commitment from the borrower to repay the loaned amount.
Getting a Promissory Note signed ensures that the borrower is legally obligated to repay the principal.
When and Where to Use the Form
- This type of Promissory Note is most frequently used when the lender and borrower share a close relationship, such as family members.
- This Demand Promissory Note is intended for use within Canada. It is suitable for all provinces and territories except Québec, where a different French-language form may be needed.
Repayment Terms
Because the loan is interest-free, the borrower is required only to return the principal amount borrowed. No interest will accrue on the loan.
Format of the Template
The Promissory Note for Interest-Free Loan form is available as a digital download in MS Word format and is easy to fill in with your details.
Ontario Purchase and Sale Agreement for Commercial Property
Buy and sell commercial real estate property in Ontario with this Offer to Purchase and Agreement of Purchase and Sale for Commercial Property.
- The seller is responsible for all expenses and taxes on the property up to the closing date. The buyer is responsible for those costs from and including the closing date.
- The seller is entitled to all rental revenues up to the closing date. From and including the closing date, the buyer will receive all rents from the property.
- The seller will make available to the buyer all documents, authorizations, records, etc. to allow the buyer to perform its due diligence and complete its inspection and any environmental or structural audits required.
- The buyer agrees to assume the existing tenants and leases, but is not obligated to assume any contracts for supply of products or services to the property.
- The seller agrees not to enter into any new leases prior to closing, and will notify all utility and other services of the change of ownership.
- This legal form is available as a Microsoft Word file and is fully editable to fit your circumstances.
- Intended for use only in the Province of Ontario, Canada.
Employment Agreement | Canada
Canadian employers, write an Employment Agreement for a new employee with this easy-to-use template.
- The contract covers relevant points of the employment including:
- Duties, responsibilities and job description of the position being filled by the employee;
- Starting salary, and any other compensation being paid;
- Benefits and expense accounts;
- Assessment or probationary period to be completed by the employee;
- Procedure for termination of the employee with cause.
- Available in MS Word format and fully editable to meet your specific needs.
- Intended to be used only within Canada.
Contractor Services Agreement
Retain an independent contractor for specific projects with this Contractor Services Agreement.
- Compensation. The contractor will be paid an hourly rate and will be reimbursed for pre-approved expenses.
- Contract Not Exclusive. The agreement is not an exclusive contract and the contractor is not required to devote all of his/her time and efforts to the company's projects.
- Confidentiality. The document includes a confidentiality agreement and a non-competition covenant.
- Scope of Law. This is a generic legal form which does not specifically reference the laws of any country or jurisdiction.
- How to Get a Copy. You can download the Contractor Services Agreement in MS Word format immediately after you purchase it.
