Heads of Agreement / Term Sheet – Sale of Business
This template contains the basic requirements of a Heads of Agreement in respect of a potential business acquisition, under which a prospective seller and a buyer of a business, agree on the key commercial terms of the sale. It is prepared from the perspective of the seller. If you are a buyer and need to prepare the heads of agreement then this template will need amending.
When agreeing on the key commercial terms for the sale of a business, there are numerous matters which must be considered. These include what assets are to be included in the sale, how and when the purchase price will be paid and the conditions precedent required for the particular transaction.
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Heads of Agreement / Term Sheet – Sale of Business
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LegalVision’s Heads of Agreement template sets out:
definitions of the parties and the transaction
an assets to be purchased clause
a costs clause
conditions precedent to completion clause
a non-disclosure agreement clause
a confidentiality clause
The document is 9 pages long and contains 15 sections.
This template contains the basic requirements of a Heads of
Agreement in respect of a potential business acquisition, under
which a prospective seller and a buyer of a business agree on the
key commercial terms of the sale. It is prepared from the
perspective of the seller. If you are a buyer and need to prepare
the heads of agreement then this template will need amending.
When agreeing on the key commercial terms for the sale of a
business, there are numerous matters which must be considered.
These include what assets are to be included in the sale, how and
when the purchase price will be paid and the conditions precedent
required for the particular transaction.
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