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Form #1492Proposal to acquire all of corporation's stock
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Proposal to acquire all of corporation's stock.
this form has not been reviewed by a lawyer
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Proposal
to acquire all of corporation's stock.
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To
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_________[seller]
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Â
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_________[address]
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This letter is to set forth a formula to acquire all
outstanding stock of _________ Corporation, Inc.
1. We will assume and pay all liabilities recorded on
the books as of _________[date], with the exception of those amounts due
to you and/or any stockholders of the corporation up to the amount of $_____.
All liabilities over $_____ will be paid by you in cash. You will pay to us at
closing the sum of $_____.
2. The amount of $_____ shall be the amount of a note
made by us to you payable at the rate of $_____ per month, including interest
at _____% per annum from date of closing in equal monthly installments to begin
_________[date], the note to be prepayable in whole or in part at any
time without premium or penalty and to have a 10-day grace period. All stock
acquired by us will be pledged as security by collateral pledge agreement for
the payment of the note to you or your assigns.
3. You will indemnify us on any and all contingent
liabilities incurred prior to the date of this letter as provided in the first
paragraph of this letter, provided that they are presented prior to _________[date].
4. We will at closing enter into a lease with you or
your nominee of the premises at _________, for a period of eight years from _________[date]
at a monthly rental of $_____, first payment due _________[date] and in
addition to the rent of $_____ security deposit will be paid to you on _________[date].
We will pay all property taxes on the premises during the lease, including
those assessed for the year _________.
5. The transaction contemplated by this letter will be
closed on or before _________[date]. At closing documents which are
necessary to effectuate the closing of the transaction will be executed and
delivered. Prior to the closing the parties will, upon request, supply
information to each other that is necessary to prepare appropriate closing
documents. Possession will be delivered immediately upon signing this letter
and the business will be operated for the benefit of the undersigned from that
date. Within 30 days of closing we will change the corporate name and will not
use the name "_________." We agree further that as long as we lease
_________ from you or your nominee you can buy one car per year from us at our
cost. You will be allowed to remove your personal property as agreed between us
from _________. At closing a general release will be delivered to _________
Corporation, Inc. You are the owner of all the outstanding capital stock of
that corporation.
6. In the event that the transaction contemplated here
is not approved by both _________[car manufacturer] and _________[finance
company], this transaction shall be rescinded, possession redelivered and
the parties shall be released from any further liability.
If the above expresses your intention, please indicate
your assent below.
_________
Corporation, [Buyer]
By _________, President
Accepted by
_________, Seller
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regading how we deal with your email. We pledge that we will:
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Terms Of Use
Submissions to this site, including any legal or business forms, posts, responses
to questions or other communications by contributors are not intended as and should
not be construed as legal advice. You are strongly encouraged to consult competent
legal council before engaging in any action based upon content contained on this
site.
These downloadable forms are only for personal use. Retransmission, redistribution,
or any other commercial use is prohibited. This includes reposting forms from this
site to another site offering free legal or other document forms for download.
Please note that the donator may have included different usage terms regarding this
form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
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Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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Keywords: Proposal, acquire all stock.
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