{"product_id":"sale-members-interest-agreement-total-non-member","title":"Sale of Members Interest Agreement Template - In Total to a Non-Member - South Africa","description":"\u003ch2 style=\"text-align: center;\"\u003e\u003cstrong\u003eSale of Members Interest Agreement Template - In Total to a Non-Member - South Africa\u003c\/strong\u003e\u003c\/h2\u003e\n\n\u003cp style=\"text-align: center;\"\u003e\u003cstrong\u003eIn total, to a non-member\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cstrong\u003eSummary \u003c\/strong\u003eA 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.\n\n\u003cstrong\u003eWhy do I need a contract for selling member’s interest? \u003c\/strong\u003eAn 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.\n\n\u003cstrong\u003eWhat does the contract say? \u003c\/strong\u003eThis 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.\n\nNote: if the entity is a private company, you'll need a \u003ca href=\"http:\/\/agreementsonline.co.za\/agreements\/sale-shares-agreement-total-non-shareholder\/\"\u003eSale of Shares Agreement\u003c\/a\u003e.\n\n\u003cstrong\u003eWhat does the agreement look like? \u003c\/strong\u003eThe sale of interest contract template can be printed onto fourteen 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 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.\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 remaining members may also want to review their \u003ca href=\"http:\/\/agreementsonline.co.za\/agreements\/members-agreement-2-members\/\"\u003eMember's 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-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-part-existing-member\/\"\u003eSale of Members' Interest Agreement: in part 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-total-existing-member\/\"\u003eSale of Member's Interest Agreement: in total to an existing 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":59164050817164,"sku":"AO-3975","price":1040.85,"currency_code":"ZAR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0793\/0750\/5804\/files\/Sale-of-Members-Interest-Agreement-in-total-to-a-non-member-1.jpg?v=1789524839","url":"https:\/\/agreementsonline.co.za\/products\/sale-members-interest-agreement-total-non-member","provider":"Agreements Online","version":"1.0","type":"link"}