Affidavit of Bona Fide Purchase of Assets | Canada

Draw up the terms for purchase of the assets of a Canadian business with this comprehensive Asset Purchase Agreement.

The business is sold as a "going concern", including assets, inventory and goodwill.

Purchase Price of Inventory

The amount of the purchase price allocated to inventory will be adjusted prior to closing based on the actual physical inventory at that time.

Conditional Transaction

The transaction is conditional in part upon the parties completing all of their covenants that must be performed prior to closing.

Schedules Included

Schedules include Definitions, Representations and Warranties of Seller, and a Non-Competition Agreement.

Format and Governing Law

The Asset Purchase Agreement package is available in MS Word format and is fully editable to fit your specific needs. It is governed by Canadian law and is intended for use only in Canada.

Add this clause to an Asset Purchase Agreement if the consent of a third party is required before the assets can be assigned.

• This clause would be used in circumstances where a lender or other third party has an interest in the assets being purchased.
• The file is available in MS Word format.
• This is a generic clause which does not contain references to any specific laws or jurisdictions.

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.