Ontario Schedule to Asset Purchase Agreement for Restaurant
Attach this Schedule to an Asset Purchase Agreement for the assets of a restaurant business in the Province of Ontario.
- Procedure for transferring the liquor license to the purchaser.
- The seller warrants that the employees are not represented under a collective bargaining agreement.
- Conditions of the purchaser for closing the transaction.
- Representations and warranties of the seller.
- Disclosure of revenues, expenses, contracts and business information.
- Assignment of service contracts and leases, trade names, signage and phone numbers from the seller to the purchaser.
- The Schedule to Asset Purchase Agreement for Restaurant covers the special conditions that apply when purchasing restaurant assets under Ontario provincial laws.
- Available in MS Word format and fully editable.
- Intended to be used only in the Province of Alberta, 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.
Restaurant Lease | Canada
Lease a restaurant premises in Canada to a tenant with this Restaurant Lease template.
- This is a triple net lease, and the tenant pays all taxes, charges and assessments on the premises, all operating costs, all utilities and services to the premises.
- Parking.The restaurant shares the common parking lot with other businesses in the mall or building.
- Indemnification. The tenant indemnifies the landlord against any claims arising from the tenant's use and occupation of the space.
- Use of Premises. The premises are to be used for the purposes of a restaurant only. This lease can be used for a dine-in or take-out and delivery restaurant. The tenant will have the exclusive right during the lease term to sell specific food items in the building / mall.
- Insurance. The tenant is required to carry comprehensive general liability insurance, all risk insurance, boiler and machinery insurance (if applicable), and business interruption insurance.
- Events of Default. If the tenant becomes bankrupt or insolvent, or if a receiver is appointed, the current month's rent and the next 3 months' rent will become immediately payable, and the landlord has the right to recover possession of the premises.
- Dispute Resolution. The parties agree to binding arbitration in the event of a dispute.
- Available in MS Word format.
- Intended to be used only in Canada.