Asset Purchase Agreement
This Asset Purchase Agreement outlines the terms under which a Buyer agrees to purchase specific assets from a Seller. It details the purchase price, conditions of sale including an "as is" clause, and mutual representations regarding legal standing. The agreement also specifies that it is binding on successors and should comply with relevant laws.
Asset Purchase Agreement
On this [date], [buyer], hereafter known as “Buyer,” agrees to purchase certain assets from [seller], hereafter known as “Seller,” as described below.
Limitations on this purchase include those of sufficient funding. The full cash price of [price] will be due upon closing of this agreement. This agreement is dependent on this payment for full execution.
The following conditions shall be placed on the purchase of [description of assets] at the price of [price].
The purchase price includes exactly and only the following elements: [list assets in their entirety]. All elements of this purchase will be sold as is, in the condition in which Buyer viewed the purchase. No alterations shall be made, nor repairs rendered. Buyer will not make claims against Seller in the event of post-transfer accidents. Seller will furnish Buyer with these assets at a reasonable time agreed to by both parties.
Seller and Buyer claim that they are in good legal standing and that their ability to conduct this transaction will not be affected by poor tax performance or illegal conduct. In the instance of complications, the responsibility to remedy the situation will lie with the element that acted illegally.
This agreement shall be binding for any successors to either side, and shall be duly documented by both sides.
To the knowledge of both parties, this agreement is in accordance with all relevant laws, which state [list important relevant laws]. Reasonable research into the legality of this agreement has been undertaken.
Additionally, the following conditions apply: [list any specific considerations, typically those relevant to the type of asset].
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