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Sale of Members Interest Agreement – in total, to a non-member

Sale of Members Interest Agreement – in total, to a non-member

stars Over 10,000 Happy South African Businesses

Original price was: R 1 847,11.Current price is: R 1 292,98.

Legal agreement for a member to sell all membership interest to non-member.

  • Can reduce member’s risk exposure.
  • Offers a path to diversification.
  • Enhances investor confidence in the company.
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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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SALE OF MEMBERS INTEREST AGREEMENT

In total, to a non-member

Summary A Sale of Members Interest Agreement may be used when a member sells all the member’s interest that they own in a Close Corporation to a purchaser, where the purchaser is not an existing member of the CC. A written Sale of Member’s Interest Agreement includes reference to due diligence and warranties, amongst other detailed provisions. This Agreement caters for more than one Member selling their member’s interest, if applicable.

Why do I need a contract for selling member’s interest? An Agreement for the Sale of Member’s Interest sets out the terms of the sale of a member’s share in a Close Corporation to another person. A number of issues need to be negotiated during a business’ sale of equity, such as the purchase price, the due diligence process, the handover process, confidentiality, restraints and warranties. These issues need to be included in the Sale of Member’s Interest Agreement to eliminate uncertainty and ensure that both sellers and the purchaser understand their respective rights and obligations during the sale.

What does the contract say? This template agreement consists of: Parties; Definitions; Sale of Member’s Interest; Suspensive Conditions; Purchase price and payment; Delivery of documents; Due diligence; Warranties; Indemnities; Breach; Restraint of Trade; 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 sale of interest contract template can be printed onto fourteen pages.

What do you need to do to use the agreement?

  • Read the sample document 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 17 (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 remaining members may also want to review their Member’s 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 total to a non member 1
This item: Sale of Members Interest Agreement - in total, to a non-member
Original price was: R 1 847,11.Current price is: R 1 292,98.
Original price was: R 1 847,11.Current price is: R 1 292,98.
Sale of Shares Agreement in total to an existing shareholder 1
Original price was: R 1 468,21.Current price is: R 1 027,75.
Notice of Incorporation Initial Directors Form CoR14 1
R 0,00
Pre Incorporation Agreement 1
Original price was: R 809,09.Current price is: R 566,36.
Sale of Shares Agreement in part to a non shareholder 1
Original price was: R 1 847,11.Current price is: R 1 292,98.
Sale of Members Interest Agreement in part to a non member 2
Original price was: R 1 373,49.Current price is: R 961,44.

SALE OF MEMBERS INTEREST AGREEMENT

In total, to a non-member

Summary A Sale of Members Interest Agreement may be used when a member sells all the member’s interest that they own in a Close Corporation to a purchaser, where the purchaser is not an existing member of the CC. A written Sale of Member’s Interest Agreement includes reference to due diligence and warranties, amongst other detailed provisions. This Agreement caters for more than one Member selling their member’s interest, if applicable.

Why do I need a contract for selling member’s interest? An Agreement for the Sale of Member’s Interest sets out the terms of the sale of a member’s share in a Close Corporation to another person. A number of issues need to be negotiated during a business’ sale of equity, such as the purchase price, the due diligence process, the handover process, confidentiality, restraints and warranties. These issues need to be included in the Sale of Member’s Interest Agreement to eliminate uncertainty and ensure that both sellers and the purchaser understand their respective rights and obligations during the sale.

What does the contract say? This template agreement consists of: Parties; Definitions; Sale of Member’s Interest; Suspensive Conditions; Purchase price and payment; Delivery of documents; Due diligence; Warranties; Indemnities; Breach; Restraint of Trade; 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 sale of interest contract template can be printed onto fourteen pages.

What do you need to do to use the agreement?

  • Read the sample document 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 17 (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 remaining members may also want to review their Member’s 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.