{"product_id":"sale-members-interest-agreement-part-existing-member","title":"Sale of Members Interest Agreement Template - in part, tot an Existing Member - South Africa","description":"\u003ch2 style=\"text-align: center;\"\u003e\u003cstrong\u003eSale of Members Interest Agreement Template - in part, tot an Existing Member - South Africa \u003c\/strong\u003e\u003c\/h2\u003e\n\n\u003cp style=\"text-align: center;\"\u003e\u003cstrong\u003eIn part, to an existing member\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cstrong\u003eSummary \u003c\/strong\u003eA 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.\n\n\u003cstrong\u003eWhy do I need a contract to sell member’s interest? \u003c\/strong\u003eA 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.\n\n\u003cstrong\u003eWhat does the agreement say? \u003c\/strong\u003eThe 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.\n\nNote: if the entity is a private company, you'll need a \u003ca href=\"http:\/\/agreementsonline.co.za\/agreements\/sale-shares-agreement-part-existing-shareholder\/\"\u003eSale of Shares Agreement\u003c\/a\u003e.\n\n\u003cstrong\u003eWhat does the Agreement look like? \u003c\/strong\u003eThe template sale agreement can be printed onto eight pages.\n\n\u003cstrong\u003eWhat do you need to do to use the Agreement?\u003c\/strong\u003e\n\n\u003cul\u003e\n\n \t\u003cli\u003eRead 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.\u003c\/li\u003e\n\n \t\u003cli\u003eComplete 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.\u003c\/li\u003e\n\n \t\u003cli\u003eEnsure all the parties sign the agreement and receive a copy.\u003c\/li\u003e\n\n \t\u003cli\u003eThe members should also consider reviewing their \u003ca href=\"http:\/\/agreementsonline.co.za\/agreements\/members-agreement-2-members\/\"\u003eMembers' Agreement\u003c\/a\u003e.\u003c\/li\u003e\n\n\u003c\/ul\u003e\n\nAlso viewed:\n\n\u003cul\u003e\n\n \t\u003cli\u003e\u003ca href=\"http:\/\/agreementsonline.co.za\/agreements\/sale-members-interest-agreement-total-existing-member\/\"\u003eSale of Member's Interest Agreement - in total to an existing member\u003c\/a\u003e\u003c\/li\u003e\n\n \t\u003cli\u003e\u003ca href=\"http:\/\/agreementsonline.co.za\/agreements\/sale-members-interest-agreement-part-non-member\/\"\u003eSale of Member's Interest Agreement - in part to a non-member\u003c\/a\u003e\u003c\/li\u003e\n\n \t\u003cli\u003e\u003ca href=\"http:\/\/agreementsonline.co.za\/agreements\/sale-members-interest-agreement-total-non-member\/\"\u003eSale of Member's Interest Agreement - in total to a non-member\u003c\/a\u003e\u003c\/li\u003e\n\n\u003c\/ul\u003e\n\n\u003cstrong\u003eThe 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.\u003c\/strong\u003e","brand":"Agreements Online","offers":[{"title":"Default Title","offer_id":59164050325644,"sku":"AO-3973","price":773.96,"currency_code":"ZAR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0793\/0750\/5804\/files\/Sale-of-Members-Interest-Agreement-in-part-to-a-non-member-2_75a4def6-cd35-4f6c-8364-c7af13750768.jpg?v=1789524839","url":"https:\/\/agreementsonline.co.za\/products\/sale-members-interest-agreement-part-existing-member","provider":"Agreements Online","version":"1.0","type":"link"}