The Simple Asset Purchase Agreement is a fundamental legal document used in Austrian business transactions for the transfer of assets between parties. This agreement is particularly suitable for straightforward asset purchases where detailed regulatory oversight is not required. It is structured to comply with Austrian legal requirements, particularly the Austrian Civil Code (ABGB) and Commercial Code (UGB), while remaining accessible and practical for general business use. The document typically includes essential provisions such as asset description, purchase price, payment terms, warranties, and closing conditions. It is commonly used for transactions involving tangible assets, equipment, inventory, or other business assets where a comprehensive business purchase agreement would be unnecessary. The agreement can be adapted for various transaction sizes while maintaining its core purpose of documenting the transfer of assets from seller to buyer in a legally compliant manner.
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1. Parties: Identification of the seller and purchaser with full legal names and addresses
2. Background: Context of the transaction and brief description of the assets being sold
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Core provision establishing the seller's obligation to sell and the buyer's obligation to purchase the assets
5. Purchase Price: Specified amount and currency of the purchase price
6. Payment Terms: Method and timing of payment, including any deposit or installment arrangements
7. Closing: Details of when and how the transfer of assets will take place
8. Seller's Warranties: Basic warranties regarding ownership, right to sell, and condition of assets
9. Buyer's Warranties: Basic warranties regarding authority to purchase and ability to pay
10. Title and Risk: When title passes and risk transfers to the buyer
11. Notices: How formal communications between parties should be made
12. Governing Law: Confirmation of Austrian law as governing law
13. Execution: Signature blocks and execution requirements
1. Tax Provisions: Include when there are specific tax implications that need to be addressed
2. Intellectual Property: Include when the assets include any IP rights
3. Employee Matters: Include when the assets include employment contracts or affect employees
4. Confidentiality: Include when sensitive information will be exchanged
5. Non-Competition: Include when seller should be restricted from competing
6. Due Diligence: Include when buyer needs to conduct investigations before closing
7. Conditions Precedent: Include when closing is subject to certain conditions being met
8. Post-Closing Obligations: Include when there are specific actions required after closing
9. Force Majeure: Include when specific events should excuse performance
10. Dispute Resolution: Include when specific dispute resolution mechanisms are desired
1. Schedule 1 - Asset Description: Detailed list and description of all assets being purchased
2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale
3. Schedule 3 - Purchase Price Allocation: Breakdown of purchase price across different asset categories
4. Schedule 4 - Encumbrances: List of any existing liens, charges or encumbrances on the assets
5. Schedule 5 - Required Consents: List of third-party consents required for the transfer
6. Appendix A - Form of Transfer Documents: Ƶ of any specific transfer documentation required
7. Appendix B - Closing Checklist: List of all documents and actions required for closing
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Retail
Real Estate
Technology
Professional Services
Industrial
Agriculture
Automotive
Construction
Healthcare
Hospitality
Energy
Transportation
Financial Services
Relevant Teams
Legal
Finance
Operations
Procurement
Commercial
Risk Management
Corporate Development
Treasury
Business Development
Asset Management
Compliance
Administrative
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Corporate Lawyer
Business Development Manager
Operations Manager
Finance Manager
Asset Manager
Procurement Manager
Commercial Director
Managing Director
Contract Manager
Risk Manager
Company Secretary
Treasury Manager
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