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Sale of Member’s Interest Agreement – in part, to an existing member

Sale of Member’s Interest Agreement – in part, to an existing member

stars Over 10,000 Happy South African Businesses

Original price was: R 1 373,49.Current price is: R 961,44.

Legal agreement for partial sale of membership interest to an existing member.

  • Can strengthen existing member’s position.
  • Helps establish fair market value.
  • Reduces the risk of outside investment.
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How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

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CONTRACT TO SELL MEMBERS INTEREST

In part, to an existing member

Summary A contract to sell members interest is useful when a business owner sells some of their Member’s Interest in a Close Corporation to a purchaser, where the buyer is already an existing member of the Close Corporation. This Sale of Member’s Interest Agreement includes reference to the purchase price and confidentiality, amongst other provisions. The Agreement caters for more than one member selling portion of their Member’s Interest, if applicable.

Why do I need a contract to sell member’s interest? A written agreement for the sale of member’s interest in a CC sets out the terms of the sale of the member’s equity to another member. A number of issues need to be negotiated during a Close Corporation’s sale of equity, such as the purchase price, confidentiality and warranties. These issues need to be included in a written contract governing the Sale of Member’s Interest to eliminate uncertainty and ensure that both the sellers and the purchaser understand their respective rights and obligations during the sale.

What does the agreement say? The sample sale of interest agreement consists of: Parties; Definitions; Sale of Member’s Interest; Purchase price and payment; Delivery of documents; Warranties; Indemnities; Breach; Confidentiality; Dispute Resolution; Pre-emptive rights; Notices; General.

Note: if the entity is a private company, you’ll need a Sale of Shares Agreement.

What does the Agreement look like? The template sale agreement can be printed onto eight pages.

What do you need to do to use the Agreement?

  • Read the sample Sale of Member’s Interest contract to ensure that it suits your requirements, and make changes as required. The Agreement can be used for one or more members selling Member’s Interest, in which event clause 1 (Parties), clause 14 (Signatures) and Annexure 1 (Sale details) can be adjusted accordingly.
  • Complete the relevant details, such as the details of the Seller/s and Purchaser, the name of the Close Corporation and the purchase price and terms in Annexure 1. Ensure that any blanks in the document have been completed.
  • Ensure all the parties sign the agreement and receive a copy.
  • The members should also consider reviewing their Members’ Agreement.

Also viewed:

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.

How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

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Sale of Members Interest Agreement in part to a non member 2
This item: Sale of Member's Interest Agreement - in part, to an existing member
Original price was: R 1 373,49.Current price is: R 961,44.
Original price was: R 1 373,49.Current price is: R 961,44.
Shareholders Agreement 2 Shareholders Short Form MOI 1
Original price was: R 1 799,75.Current price is: R 1 259,83.
MOI Short Standard Form for Private Companies 2
R 0,00
Sale of Members Interest Agreement in total to a non member 1
Original price was: R 1 847,11.Current price is: R 1 292,98.
Sale of Members Interest Agreement in total to an existing member 1
Original price was: R 1 468,21.Current price is: R 1 027,75.
Shareholders Agreement 3 or more Shareholders Short Form MOI 1
Original price was: R 1 799,75.Current price is: R 1 259,83.

CONTRACT TO SELL MEMBERS INTEREST

In part, to an existing member

Summary A contract to sell members interest is useful when a business owner sells some of their Member’s Interest in a Close Corporation to a purchaser, where the buyer is already an existing member of the Close Corporation. This Sale of Member’s Interest Agreement includes reference to the purchase price and confidentiality, amongst other provisions. The Agreement caters for more than one member selling portion of their Member’s Interest, if applicable.

Why do I need a contract to sell member’s interest? A written agreement for the sale of member’s interest in a CC sets out the terms of the sale of the member’s equity to another member. A number of issues need to be negotiated during a Close Corporation’s sale of equity, such as the purchase price, confidentiality and warranties. These issues need to be included in a written contract governing the Sale of Member’s Interest to eliminate uncertainty and ensure that both the sellers and the purchaser understand their respective rights and obligations during the sale.

What does the agreement say? The sample sale of interest agreement consists of: Parties; Definitions; Sale of Member’s Interest; Purchase price and payment; Delivery of documents; Warranties; Indemnities; Breach; Confidentiality; Dispute Resolution; Pre-emptive rights; Notices; General.

Note: if the entity is a private company, you’ll need a Sale of Shares Agreement.

What does the Agreement look like? The template sale agreement can be printed onto eight pages.

What do you need to do to use the Agreement?

  • Read the sample Sale of Member’s Interest contract to ensure that it suits your requirements, and make changes as required. The Agreement can be used for one or more members selling Member’s Interest, in which event clause 1 (Parties), clause 14 (Signatures) and Annexure 1 (Sale details) can be adjusted accordingly.
  • Complete the relevant details, such as the details of the Seller/s and Purchaser, the name of the Close Corporation and the purchase price and terms in Annexure 1. Ensure that any blanks in the document have been completed.
  • Ensure all the parties sign the agreement and receive a copy.
  • The members should also consider reviewing their Members’ Agreement.

Also viewed:

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.