This asset transfer and sale agreement brand template has 3 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our asset transfer and sale agreement brand template:
PURCHASE OF NAME, LOGO AND OTHER ASSETS This Purchase of Name, Logo and Other Assets Agreement (the "Agreement") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Vendor"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the "Purchaser"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS the Vendor is the owner of the name, logo and other assets of [SPECIFY] ("the Assets"); WHEREAS the Purchaser desires to purchase and the Vendor desires to sell said Assets; NOW THEREFORE, IT IS AGREED AS FOLLOWS: 1. All rights to the Assets are owned by the Vendor and that no other person has any right to use the Assets or any variation of it. [COMPANY NAME] ("the Purchaser") wishes to purchase all rights, title and interest of the Vendor in and to the Assets and its ongoing use for the Purchaser's sole use, enjoyment and benefit. The Vendor shall concurrently amend its corporate documents and sign and file all pertinent documents which may be required to change its name and logo so that it no longer includes any component of the Name and to irrevocably assign all right, title and interest in and to the Assets and its use, benefit and enjoyment to the Purchaser. 2. The Vendor will also deliver to the Purchaser, without retaining any copies thereof, whether in written, electronic or other form, the customer list of the Vendor, which shall include, at a minimum, the name, address and credit rating of each of the current customers of the Vendor, as well as all former customers of the Vendor for the past [NUMBER] years. 3. All the [SPECIFY SUPPLIES, EQUIPMENT, OFFICE FURNITURE AND EQUIPMENT, COMPUTER HARDWARE, SOFTWARE, SIGNS, ETC] currently in the Vendor's possession (collectively, the "Inventory") are owned by the Vendor free and clear of all rights of third parties, including without limitation all hypothecs, mortgages, pledges, security interests, title retention agreements or other encumbrances (collectively, "Liens"), and that the Inventory is in good condition and working order, save and except for any normal wear and tear in light of its age. The Vendor shall sell, assign and transfer the Inventory to the Purchaser free and clear of any Liens and in such condition. The Vendor shall not sell or otherwise dispose of any Inventory to any person other than the Purchaser or its nominee(s) following the execution by the Vendor of this Letter of Intent. 4. The Vendor hereby grants to the Purchaser, for good and valuable consideration, whereof quit, the option to rent its property [FULL ADDRESS] and its branch location situated at [STATE/PROVINCE], each on a month-to-month basis, for rental rates to be negotiated between the Vendor and the Purchaser following the execution hereof but prior to the closing of this transaction. The Purchaser will also assume the Vendor's [NUMBER] truck leases as well as the Vendor's lease for the telephone system, and the Vendor will assign all its current telephone and fax numbers to [NUMBER] for its exclusive use. 5. The Vendor shall provide the Purchaser with a list of all current employees of the Vendor, including the name, address, position, years of service, current salary and benefits for each employee (the "Employees"). The Purchaser shall have the right but not the obligation to offer employment to each of the Employees on such terms and conditions as the Purchaser shall negotiate with them. The Vendor shall be solely responsible for any labor-related obligations or liabilities (including without limitation severance pay) to any of the Employees to whom the Purchaser does not choose to offer employment or who refuse such offer of employment. 6
