Ontario Purchase Agreement for Assets of Operating Company
Acquire the assets of an Ontario corporation with this Purchase Agreement for Assets of Operating Company.
- The seller (vendor) sells the assets of a company to the purchaser and the purchaser assumes the company's liabilities as part of the purchase price.
- The balance of the purchase price will be secured by a promissory note.
- The parties agree to file joint elections under sections 22 and 97(2) of the Income Tax Act (Canada) and as required under the Ontario Corporations Tax Act.
- The form includes a Section 116 Affidavit to be sworn by a corporate officer of the vendor, if applicable.
- The form also includes a Promissory Note.
- This is a fully editable legal template intended for use only in the Province of Ontario, Canada.
Last Updated: 08-October-2021