Transfer of Assets Agreement Template

As mentioned earlier, the way this transaction is carried out must be fully defined. Thus, in « VIII Financing », it will be time to indicate whether the sale of the assets in question depends on the buyer`s ability to make that purchase. If the buyer pays for the assets in question with his own capital, which means that the sale does not require additional financing, check the « Unconditional » box in this section. In addition to declaring that the buyer is able to acquire the assets, the buyer has a period of time to provide proof of this creditworthiness. The start date of this calendar is the effective date of this document, and the number of days that make up this period should appear on the blank line after the words « . » Proof of funds in the … « If this sale of « . The buyer`s ability to obtain financing from a « Part 3 » (i.e., a bank) and then check the second box under « VIII. Financing » and specify the number of days following the effective date of these documents to provide the seller with a pre-approval letter from an established lender. Check the third box if this sale can only continue with the « Buyer`s Ability to Obtain Seller`s Financing » option, and then specify the number of days from the effective date of this Agreement that will be made available to Buyer for Seller approval for the relevant loan amount in the blank line provided. However, after the FTC blocked the sale, the parties moved to an asset purchase agreement so walgreens could purchase a portion of Rite Aid`s business. In June 2017, Walgreens agreed to purchase 2,186 of Rite Aid`s 4,650 stores for $5.175 billion. In October 2015, Walgreens entered into a $9.4 billion cash share purchase agreement with Rite Aid.

As part of the deal, Walgreens would take possession of all of Rite Aid`s assets and liabilities. If the seller works for the buyer after the sale and has received any type of salary, it will be taxed as ordinary income and specified in a separate employment contract or consulting contract. Sometimes, the seller`s assets may experience a deterioration in quality or condition after an inspection has been successfully completed without incident, but before the closing date. For example, if some of the assets sold are machines that have been severely damaged by flooding during an unforeseen event during this period, the buyer may not want to make the payment originally set. In point « B.) A « closing period » a number of days after an event that compromises the value of the assets is made available to both parties for renegotiation. Name this number of days in the blank row of this item. The next task to perform is to identify the buyer or buyer. This is the Party making a predetermined payment for the asset(s) concerned. Write down the name of the buyer immediately after the word « buyer », then the number of the building, the street or street, and the suite number that appears in the formal ». Postal address of the buyer in the next available field. Note that this report must include the buyer`s official name, if the buyer in question is a business entity, be sure to include their legal name, including status terms such as « Company, » « Corp. », or « LLC. » Complete this item by specifying the buyer`s mailing address and the condition in which it is located in the last two lines of the « Buyer » section.

Collect the details that describe the purchase made, and then open the file you downloaded from this page. The first point of this agreement, Article `I. The Parties » open this document with a declaration fixing the date annexed to the Agreement. Date this agreement by entering the two-digit month and day of the month, and then the double-digit year of this agreement via the two blank lines that follow the words « . Made This » and before the term « . Between the following parts. In general, this is the date on which the contract is concluded with information or signed for performance. The exact payment that the buyer must make to the seller in order to become the owner of the assets that we have defined in the previous sections must be numerically in the blank line after the dollar sign in the next section (entitled « IV. Purchase price »). Keep in mind that this should be the total cost of the asset or assets to be sold. Once this agreement is concluded with the requested material, the seller must read all the terms and conditions.

If it has decided to consent to the sale of the assets in question to the buyer, it is time for the seller to put this decision on paper. The seller must find the « Seller » section, which immediately refers to the final article « XXII. Entire Agreement », then sign the blank line attached to the « Seller`s Signature » label. The blank line next to this signature should be marked with the current calendar date once the seller has completed their signature. Only the seller must indicate the date of signature requested with his signature. If Seller is a company (i.e., a company), an elected representative of that company may enter into this Agreement on its behalf by signing its name in the « Seller`s Signature » line and indicating the « Date » signature in the adjacent line. After delivery of the two items mentioned above, the seller must print his name. The Print Name row that appears below the Seller`s Signature row accepts this entry. The seventh point of this agreement will pay additional attention to the ongoing transaction. In « VII. Payment », check the first box if you want full payment of assets by the buyer to be received by a predetermined closing date.

The property for sale should be defined before discussing the details of this sale. The second point is entitled « II. Tangible capital assets » and displays two checkbox items. One of them must be selected as a description of the asset to be sold. If the buyer owns intangible assets (i.e., a list of copyrights or marketing), but does not purchase physical goods such as machinery, tick or tick the first box (titled « No tangible assets »). If the asset you want to sell is physical property, select the Tangible capital assets check box. The « II. The « Tangible Capital Assets » section contains several empty lines under the headings « Description of tangible capital assets » and « Prices ($) ».

This area only needs a report if the item « Tangible capital assets » is selected. If this is the case, the physical property acquired under this Agreement must be named under the heading « Description of tangible assets » and its value must be indicated under « Price ($) ». The third section, which is marked in bold « III. Intangible assets » attempts to determine whether the sale resulting from this Agreement is for non-physical property. If only physical assets are purchased here, check the « No intangible assets » box. If « Intangible assets » are sold, check the second box under « III. Intangible assets ». This means that non-physical items (such as intellectual property rights or a right of claim) are purchased. Both the « Description of Intangible Assets » section and the « Prices ($) » section are intended to better define all « intangible assets » sold.

The blanks under these headings are set to display your descriptions and the cost of « Intangible Assets » when the second item in this section is selected. An asset purchase is the act of a buyer who buys all or part of the assets of a company. Depending on the asset, depending on the assets sold, the seller may be required to pay normal income tax or capital gains. The main difference with an asset purchase is that a buyer only gets ownership of the asset without any liabilities. In a share purchase agreement, the buyer assumes ownership of all assets and liabilities of the company. Often, a seller requires a down payment to reserve the purchased assets. This is especially true for expensive sales. In section « V. Deposit », one of the checkboxes displayed must be checked to set the status of the seller`s filing request. If no deposit is required for the next step, check the box for the declaration « A deposit from the buyer is not required ». If a deposit is required for this purchase to proceed to the next step, check the box « A deposit is required… » and enter the dollar amount required for the deposit in the blank line provided. This also requires further definition.

A deposit is considered « non-refundable » or « refundable ». If a deposit is required but the buyer is not entitled to a return if the sale is cancelled, check the « Non-refundable » box. The only exception to this option is if the assets to be acquired have been damaged or lost value after the inspection and the initial value has been established. .