An exclusivity agreement is a contract between two or more entities to deal only with each other regarding a specific area of business. The essential feature of an exclusivity agreement is the covenant to not engage in a particular business activity with other parties for a specified period of time.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A New York Exclusive or Exclusivity Agreement between a buyer and seller refers to a legally binding contract that grants exclusive rights to one party (the buyer) to purchase a specific property or asset from another party (the seller). This agreement is commonly used in real estate transactions, business acquisitions, and other similar arrangements. It restricts the seller from promoting or engaging in negotiations with other potential buyers during the exclusivity period. In New York, there are different types of Exclusive or Exclusivity Agreements between buyers and sellers, including: 1. Real Estate Exclusive Listing Agreement: This type of agreement is used in the real estate industry when a seller grants an exclusive listing to a particular broker or agent for a specific period. During this period, the seller is prohibited from engaging with other brokers or agents to sell the property. 2. Buyer Agency Agreement: In this agreement, a buyer hires an exclusive buyer's agent to assist with finding and purchasing a property. The buyer's agent is exclusively working for the buyer's interests and is entitled to a commission upon successful completion of the transaction. 3. Non-Disclosure and Exclusivity Agreement: This type of agreement is commonly used in mergers and acquisitions or business partnerships. It ensures that the seller provides confidential information to the buyer for evaluation purposes while binding the buyer to maintain strict confidentiality and exclusivity during the negotiation process. 4. Exclusivity Agreement in Franchise Sales: When a franchisor wants to sell its franchise business to a buyer, they may enter into an exclusivity agreement. This agreement ensures that the buyer has exclusive rights to negotiate and potentially purchase the franchise within a specified timeframe, while the franchisor refrains from discussing the sale with other potential buyers. Key terms and provisions typically included in a New York Exclusive or Exclusivity Agreement include: — Duration of exclusivity: The agreement specifies the length of time during which the seller cannot negotiate or sell the property to another buyer. — Non-compete clause: It may restrict the seller from actively promoting or seeking competing offers during the exclusivity period. — Confidentiality: The agreement often includes provisions that require both parties to maintain the confidentiality of any information shared during the negotiation process. — Conditions and contingencies: The agreement may outline specific conditions that need to be met before the exclusivity agreement becomes binding, such as satisfactory due diligence or financing. — Termination clause: This enables either party to terminate the agreement under certain circumstances, typically with prior notice or due to a breach of the agreement's terms. In summary, a New York Exclusive or Exclusivity Agreement grants exclusive rights to a buyer for the purchase of a specific property or asset while restricting the seller from engaging with other potential buyers. The agreement varies depending on the context, such as real estate, business acquisitions, or franchise sales.A New York Exclusive or Exclusivity Agreement between a buyer and seller refers to a legally binding contract that grants exclusive rights to one party (the buyer) to purchase a specific property or asset from another party (the seller). This agreement is commonly used in real estate transactions, business acquisitions, and other similar arrangements. It restricts the seller from promoting or engaging in negotiations with other potential buyers during the exclusivity period. In New York, there are different types of Exclusive or Exclusivity Agreements between buyers and sellers, including: 1. Real Estate Exclusive Listing Agreement: This type of agreement is used in the real estate industry when a seller grants an exclusive listing to a particular broker or agent for a specific period. During this period, the seller is prohibited from engaging with other brokers or agents to sell the property. 2. Buyer Agency Agreement: In this agreement, a buyer hires an exclusive buyer's agent to assist with finding and purchasing a property. The buyer's agent is exclusively working for the buyer's interests and is entitled to a commission upon successful completion of the transaction. 3. Non-Disclosure and Exclusivity Agreement: This type of agreement is commonly used in mergers and acquisitions or business partnerships. It ensures that the seller provides confidential information to the buyer for evaluation purposes while binding the buyer to maintain strict confidentiality and exclusivity during the negotiation process. 4. Exclusivity Agreement in Franchise Sales: When a franchisor wants to sell its franchise business to a buyer, they may enter into an exclusivity agreement. This agreement ensures that the buyer has exclusive rights to negotiate and potentially purchase the franchise within a specified timeframe, while the franchisor refrains from discussing the sale with other potential buyers. Key terms and provisions typically included in a New York Exclusive or Exclusivity Agreement include: — Duration of exclusivity: The agreement specifies the length of time during which the seller cannot negotiate or sell the property to another buyer. — Non-compete clause: It may restrict the seller from actively promoting or seeking competing offers during the exclusivity period. — Confidentiality: The agreement often includes provisions that require both parties to maintain the confidentiality of any information shared during the negotiation process. — Conditions and contingencies: The agreement may outline specific conditions that need to be met before the exclusivity agreement becomes binding, such as satisfactory due diligence or financing. — Termination clause: This enables either party to terminate the agreement under certain circumstances, typically with prior notice or due to a breach of the agreement's terms. In summary, a New York Exclusive or Exclusivity Agreement grants exclusive rights to a buyer for the purchase of a specific property or asset while restricting the seller from engaging with other potential buyers. The agreement varies depending on the context, such as real estate, business acquisitions, or franchise sales.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
