The share purchase agreement should also look at what happens if completion is not completed on the agreed date. For example, if a party is a Shell company (i.e. it has little or no assets), you should ask the owners of the business to act as guarantor. The surety also concludes the share purchase agreement and guarantees the company`s obligations. This helps minimize the risk if something goes wrong at a later stage and you want to make a claim. One example is that a company sells all of its business. A share purchase agreement defines the terms of the sale of shares in a company. Although there are no standard share sales agreements, the following companies generally cover the same general territory. 12.6. The restrictive agreements covered in Clauses 12.1, 12.2 and 12.3 apply for up to two years from the date of termination of the seller`s employment contract (or if the seller continues to provide services, is an employee or director of the companies or a company in the group following such termination, up to two years from the date on which he ceases to provide services or the employee or director of the [company] or a company.
group 15.1. It is entitled to transfer or renew all rights and obligations under this Agreement to any other member of the group after which all references contained in this Agreement to [-] are understood as references to the assignee. The seller and the companies here matter agree that a separate agreement is not necessary for such a transfer to take effect, but if other measures, consents or documents are necessary to complete such a transfer, the seller and the companies undertake to do so or to provide it. The share purchase agreement defines both the number and type of shares sold by each shareholder. It will be important for a buyer to understand the type of shares they are buying, as different types of shares may have different rights. For example, for votes, dividends and capital. Items marked with an asterisk are more common when all the company`s shares are sold. The agreement should specify how the seller should act after the sale. An important provision is, for example, the limitation of the trade clause.