Offer to Purchase a Residential Building
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Table of Contents
0.00 INTERPRETATION
0.01 Definitions
0.01.01 Activities
0.01.02 Best Effort
0.01.03 Building
0.01.04 Breach
0.01.05 Change in Control
0.01.06 Closing Date
0.01.07 Confidential Information
0.01.08 Counter-Offer
0.01.09 Effective Date
0.01.10 Encumber or Encumbrance
0.01.11 Event of Default
0.01.12 Force Majeure
0.01.13 Fundamental Provisions
0.01.14 Hypothec
0.01.15 Indemnification Guarantee
0.01.16 Law
0.01.17 Leases
0.01.18 Legal Representatives
0.01.19 Movable Effects
0.01.20 Offer
0.01.21 PARTY
0.01.22 Person
0.01.23 Prime Rate
0.01.24 Related Person
0.01.25 Transition Period
0.02 Precedence
0.03 Jurisdiction
0.03.01 Governing Law
0.03.02 Non-compliance
0.04 Miscellaneous
0.04.01 Cumulative Rights
0.04.02 Time and Dates
0.04.03 Financial References
0.04.04 Reference within Agreement
0.04.05 Gender and Number
0.04.06 Headings
0.04.07 Presumptions
0.04.08 Knowledge
0.04.09 Approval
0.04.10 GAAP
1.00 PURPOSE
1.01 Offer to Purchase
1.02 Conditions
1.02.01 Required by OFFEROR
1.02.02 Required by BENEFICIARY
1.02.03 Choice
2.00 CONSIDERATION
2.01 Base Amount
2.02 Adjustments
3.00 TERMS OF PAYMENT
3.01 Deposit
3.01.01 Signing of he Offer
3.01.02 Acceptance of the Offer
3.02 Hypothec
3.03 Instalment
3.04 Balance
3.05 Claim by a Third Party
3.06 Promissory Note
3.07 Interest
3.08 Advance Payment
3.09 Third Party Owner
3.10 Loss of Term
4.00 SECURITY
4.01 In favour of OFFEROR
4.01.01 Indemnification Guarantee
4.02 In favour of BENEFICIARY
4.02.01 Immovable Hypothec
4.02.02 Movable Hypothec Without Delivery
4.02.03 Suretyship
5.00 MUTUAL REPRESENTATIONS AND WARRANTIES
5.01 Authority
5.02 Binding Agreement
5.03 Canadian Resident
5.04 Commission
5.05 Fundamental Provisions
6.00 REPRESENTATIONS AND WARRANTIES OF OFFEROR
6.01 Status
6.02 Insurance
6.03 Nominee
6.04 Disclosure
7.00 REPRESENTATIONS AND WARRANTIES OF BENEFICIARY
7.01 Status
7.02 Insurance
7.03 Bankruptcy
7.04 Security
7.05 Ownership Rights
7.05.01 Sole Owner
7.05.02 Preference
7.06 Quality of Titles
7.07 Leases
7.07.01 Compliance
7.07.02 Value
7.07.03 Claim
7.08 Encumbrance
7.09 Condition
7.10 Permits
7.11 Legal Proceedings
7.12 Taxes
7.13 Income Statement
7.14 Environment
7.14.01 Premises
7.14.02 Notice of Default
7.15 Disclosure
8.00 MUTUAL DUTIES AND OBLIGATIONS
8.01 Confidential Information
8.01.01 Undertaking
8.02 Disclosure
9.00 DUTIES AND OBLIGATIONS OF OFFEROR
9.01 Prior to the Closing
9.01.01 Best Effort
9.01.02 Continuous Information
9.02 Following the Closing
9.02.01 Insurance
9.02.02 Taxes
9.02.03 Leases
9.02.04 Contributions
9.02.05 Registration
10.00 DUTIES AND OBLIGATIONS OF BENEFICIARY
10.01 Prior to the Closing
10.01.01 Access to Documents
10.01.02 Inspection
10.01.03 Environmental Verification
10.01.04 Default
10.02 Following the Closing
10.02.01 Risks
10.02.02 Delivery
10.02.03 Warranties
10.02.04 Transfer of Permits
10.02.05 Administration
10.02.06 Assistance
10.03 Indemnification
10.03.01 “Loss”
10.03.02 Scope
10.03.03 Procedure
10.03.04 Deductible
10.03.05 Limitation on Claims
11.00 SPECIAL PROVISIONS
11.01 Assignment
11.02 Force Majeure
11.02.01 No Default
11.02.02 Duty
11.02.03 Rights of Other PARTY
11.03 Further Assurances
11.04 Other Remedies
11.04.01 Choices
11.04.02 No limitations
11.05 Prescription
11.06 Fees
11.07 Employees
11.08 Non-conclusion of Sale
11.08.01 Offer not-accepted
11.08.02 Sale not Concluded
12.00 GENERAL PROVISIONS
12.01 Notice
12.02 Dispute Resolution
12.02.01 Good Faith Negotiations
12.02.02 Mediation
12.02.03 Arbitration
12.03 Election
12.04 Counterparts
12.05 Amendment
12.06 Waiver of Rights
12.07 Electronic Transmission
12.08 Language
13.00 DEADLINE FOR ACCEPTANCE
14.00 CLOSING SESSION
15.00 SCOPE
SCHEDULE A - EXCERPT OF A RESOLUTION OF OFFEROR
SCHEDULE B - EXCERPT OF A RESOLUTION OF BENEFICIARY
SCHEDULE 0.01.03 – CADASTRAL DESCRIPTION OF THE BUILDING
SCHEDULE 0.01.14 – HYPOTHEC
SCHEDULE 0.01.17 – LEASES DESCRIPTION
SCHEDULE 0.01.19 – MOVABLE EFFECTS DESCRIPTION
SCHEDULE 3.06– PROMISSORY NOTE
SCHEDULE 4.02.02 – MOVABLE HYPOTHEC WITHOUT DELIVERY
SCHEDULE 4.02.03 – SURETYSHIP
SCHEDULE 7.06 – ENCUMBRANCES
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