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Price Purchase Agreement for Ireland

Price Purchase Agreement Template for Ireland

A comprehensive legal agreement governed by Irish law that details the terms and conditions of a purchase transaction between a buyer and seller. The document outlines the purchase price, payment terms, warranties, representations, and conditions of sale, while ensuring compliance with Irish commercial law and regulations. It includes specific provisions for completion mechanics, risk transfer, and dispute resolution under Irish jurisdiction, incorporating relevant requirements from both domestic legislation and applicable EU regulations.

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Price Purchase Agreement

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What is a Price Purchase Agreement?

The Purchase Price Agreement is a crucial legal document used in Irish commercial transactions to formalize the terms of a sale between parties. It is particularly relevant when the transaction involves significant assets, business purchases, or complex payment structures. The agreement, governed by Irish law, sets out detailed provisions regarding the purchase price, payment mechanisms, warranties, and completion requirements. This document type is essential for ensuring legal certainty and protecting both parties' interests under Irish jurisdiction, while complying with relevant Irish and EU legislation. The Purchase Price Agreement typically includes comprehensive schedules and may incorporate conditions precedent, especially in more complex transactions. It serves as the primary transaction document and often forms part of a larger suite of transaction documents in commercial deals.

What sections should be included in a Price Purchase Agreement?

1. Parties: Identification and details of the buyer and seller

2. Background: Context of the transaction and brief description of what is being purchased

3. Definitions and Interpretation: Definitions of key terms and rules for interpreting the agreement

4. Sale and Purchase: Core agreement to sell and purchase the subject matter

5. Purchase Price: Specification of the purchase price and how it was determined

6. Payment Terms: Details of how and when payment will be made, including any installments or conditions

7. Completion: Requirements and mechanics for completing the transaction

8. Seller's Warranties: Warranties given by the seller regarding the subject matter of the sale

9. Buyer's Warranties: Basic warranties given by the buyer, including capacity to enter into the agreement

10. Limitations on Claims: Limitations on warranty claims and time periods for bringing claims

11. Confidentiality: Obligations regarding confidential information

12. Announcements: Requirements for any public announcements about the transaction

13. Notices: How formal notices under the agreement must be given

14. General: Standard boilerplate provisions including entire agreement, variations, etc.

15. Governing Law and Jurisdiction: Confirmation of Irish law as governing law and jurisdiction for disputes

What sections are optional to include in a Price Purchase Agreement?

1. Conditions Precedent: Used when completion is conditional on certain events or approvals

2. Price Adjustment: Include when the price may be adjusted based on specific factors or events

3. Tax Covenant: Include for transactions where specific tax arrangements or indemnities are needed

4. Non-Competition: Used when seller needs to be restricted from competing post-sale

5. Transitional Services: Include when seller will provide services to buyer for a period post-completion

6. Employee Matters: Required when the transaction involves transfer of employees

7. Intellectual Property: Include when specific IP rights are being transferred or licensed

8. Data Protection: Required when personal data is involved in the transaction

9. Environmental Matters: Include for transactions involving property or environmental risks

What schedules should be included in a Price Purchase Agreement?

1. Schedule 1 - Definitions: Detailed definitions of terms used in the agreement

2. Schedule 2 - Purchase Price Calculation: Detailed methodology for calculating the purchase price

3. Schedule 3 - Completion Obligations: Detailed list of what each party must do at completion

4. Schedule 4 - Warranties: Full list of warranties given by the seller

5. Schedule 5 - Limitations on Claims: Detailed provisions regarding warranty claims and limitations

6. Schedule 6 - Properties: Details of any properties included in the sale

7. Schedule 7 - Intellectual Property: List of intellectual property rights included in the sale

8. Appendix 1 - Form of Transfer Documents: Ƶ for documents to be signed at completion

9. Appendix 2 - Disclosure Letter: Form of disclosure letter qualifying the warranties

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Ƶ

Document Type

Purchase Agreement

Cost

Free to use
Relevant legal definitions



















































Clauses






































Relevant Industries

Manufacturing

Technology

Real Estate

Retail

Professional Services

Healthcare

Energy

Agriculture

Construction

Transportation

Financial Services

Telecommunications

Entertainment

Hospitality

Education

Relevant Teams

Legal

Finance

Procurement

Corporate Development

Risk & Compliance

Treasury

Tax

Commercial

Business Development

Mergers & Acquisitions

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Commercial Director

Legal Counsel

Corporate Lawyer

Finance Director

Procurement Manager

Business Development Manager

Mergers & Acquisitions Director

Risk Manager

Compliance Officer

Contract Manager

Company Secretary

Treasury Manager

Financial Controller

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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