Share Purchase Agreement with Vendor Take-Back Provisions | Canada
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.
- This Share Purchase Agreement with Vendor Take-Back Provisions is available as a fully editable MS Word document.
- This is a Canadian legal document.
Last Updated: 09-March-2021