Partnership Interest - Purchase and Sale
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Table of Contents
0.00 INTERPRETATION
0.01 Definitions
0.01.01 Activities
0.01.02 Additional Amount
0.01.03 Adjustment Period
0.01.04 Agreement
0.01.05 Applicable Law
0.01.06 Breach
0.01.07 Change in Control
0.01.08 Closing Date
0.01.09 Confidential Information
0.01.10 Creditors
0.01.11 Effective Date
0.01.12 Encumber or Encumbrance
0.01.13 Event of Default
0.01.14 Financial Statements
0.01.15 Financial Year
0.01.16 Force Majeure
0.01.17 Fundamental Provisions
0.01.18 Insolvency Laws
0.01.19 Intellectual Property
0.01.20 Law
0.01.21 Legal Representatives
0.01.22 Offer
0.01.23 Partner
0.01.24 Partnership
0.01.25 Partnership Agreement
0.01.26 Partnership Interest
0.01.27 PARTY
0.01.28 Person
0.01.29 Prime Rate
0.01.30 Related Agreement
0.01.31 Related Person
0.01.32 Subsidiary
0.01.33 Transaction
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 References 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 Sale
1.02 Conditions
1.02.01 Required by PURCHASER
1.02.02 Required by VENDOR
1.02.03 Choice
2.00 CONSIDERATION
2.01 Base Price
2.02 Adjustment
3.00 TERMS OF PAYMENT
3.01 Payment Schedule
3.02 Initial Instalment
3.03 Balance
3.03.01 Monthly Instalments
3.03.02 Interest
3.04 Pre-payment
3.05 Loss of Term
3.06 Adjustment
4.00 SECURITY
4.01 In favour of PURCHASER
4.02 In Favour of VENDOR
4.03 Transfer of Title
4.04 SURETYSHIP
4.04.01 Undertaking
4.04.02 Solidarity
4.04.03 Waiver
4.04.04 Presumption
4.04.05 Scope
4.04.06 Jurisdiction
4.05 Immovable Hypothec
5.00 MUTUAL REPRESENTATIONS AND WARRANTIES
5.01 Status
5.02 Authority
5.03 Binding Agreement
5.04 Canadian Resident
5.05 Commission
5.06 Insurance
5.07 Nominee
5.08 Fundamental Provisions
5.09 Disclosure
6.00 REPRESENTATIONS AND WARRANTIES OF PURCHASER
6.01 Status
6.02 Authority
6.03 Binding Agreement
6.04 Canadian Status
6.05 Insurance
6.06 Nominee
6.07 Fundamental Provisions
6.08 Disclosure
7.00 REPRESENTATIONS AND WARRANTIES OF VENDOR
7.01 Status
7.02 Authority
7.03 Binding Agreement
7.04 Canadian Status
7.05 Insurance
7.06 Nominee
7.07 Insolvency
7.08 Partnership Interest
7.08.01 Encumbrances
7.08.02 Assignability
7.09 Fundamental Provisions
7.10 Disclosure
8.00 MUTUAL DUTIES AND OBLIGATIONS
8.01 Confidential Information
8.01.01 Undertaking
8.01.02 End of Agreement
8.02 Insurance
8.02.01 Insured Risks
8.02.02 Amount of Coverage
8.02.03 Issuer
8.02.04 Co-insured
8.02.05 No Limitation
8.03 Indemnification
8.03.01 “Loss”
8.03.02 Scope
8.03.03 Procedure
8.03.04 Deductible
8.03.05 Limitation on Claims
8.04 Disclosure of Agreement
9.00 DUTIES AND OBLIGATIONS OF THE PURCHASER
9.01 Release and Discharge
9.01.01 Undertakings
9.01.02 Legal Publicity
9.02 Financial Statements
10.00 DUTIES AND OBLIGATIONS OF THE VENDOR
10.01 Non-competition
10.01.01 Scope
10.01.02 Adjustments
10.01.03 Penalty
10.01.04 Additional Remedy
10.02 Non-solicitation of Clientele
10.03 Non-solicitation of Staff
11.00 SPECIAL PROVISIONS
11.01 Assignment
11.01.01 Prohibition
11.01.02 Effect of Breach
11.01.03 Exception
11.02 Force Majeure
11.02.01 No Default
11.02.02 Duty
11.02.03 Rights of Other PARTY
11.03 Relationship
11.03.01 Independent Contractors
11.03.02 No Control over Performance
11.03.03 No Authority to Bind
11.04 Further Assurances
11.05 Other Remedies
11.05.01 Choices
11.05.02 No Limitations
11.06 Prescription
11.07 Drafting Costs
11.08 Closing Session
11.09 Miscellaneous
11.09.01 Waiver and Release
11.09.02 Release and Discharge
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 TERMINATION
13.01 Default
13.02 No Reimbursement
14.00 EFFECTIVE DATE
14.01 Retroactivity
14.02 Execution
14.03 Deferral
15.00 DURATION
15.01 Instantaneous Execution
15.02 Survival
16.00 SCOPE
SCHEDULE A – EXCERPT FROM A RESOLUTION OF PURCHASER
SCHEDULE B – EXCERPT FROM A RESOLUTION OF VENDOR
SCHEDULE 0.01.14 –FINANCIAL STATEMENTS
SCHEDULE 0.01.22 – COPY OF THE OFFER TO PURCHASE (IF NECESSARY)
SCHEDULE 0.01.25 – PARTNERSHIP AGREEMENT
SCHEDULE 0.01.30 – RELATED AGREEMENTS
SCHEDULE 3.01 – PAYMENT SCHEDULE OF PURCHASE PRICE
SCHEDULE 4.04 – SURETYSHIP
SCHEDULE 7.08.02 – APPROVAL OF TRANSFER
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