New Mexico Sample Partnership Interest Purchase Agreement between Franklin Covey Company, Daytracker.com, et al

• Category: Corporations - Public - Purchase
• State: Multi-State
• Control #: US-EG-9054
• Format: Word; Rich Text

Description

Partnership Interest Purchase Agreement between Franklin Covey Company, Daytracker.Com, Scot Robinson and Michael Barlow dated December 8, 1999. 34 pages Title: Understanding the New Mexico Sample Partnership Interest Purchase Agreement for Franklin Covey Company and Daytracker.com Introduction: In the world of business, partnerships play a crucial role in achieving mutual growth and success. When it comes to formalizing a partnership, it is essential to have a clear and comprehensive agreement in place. This article will delve into the specifics of the New Mexico Sample Partnership Interest Purchase Agreement between Franklin Covey Company and Daytracker.com, highlighting its key elements and variations. Key Elements of the Agreement: 1. Parties Involved: The agreement identifies the parties involved, namely, Franklin Covey Company and Daytracker.com. It outlines their official names, addresses, and other relevant details pertaining to the partnership. 2. Partnership Interest Description: This section outlines the scope and nature of the partnership, defining the specific interest being purchased by Franklin Covey Company. It includes details such as the percentage of partnership interest being acquired and any accompanying rights and privileges. 3. Purchase Consideration: The New Mexico Sample Partnership Interest Purchase Agreement specifies the consideration to be paid by Franklin Covey Company to Daytracker.com for the partnership interest. This may include cash, stocks, or a combination of both, as mutually agreed upon by the parties. 4. Representations and Warranties: Both parties provide representations and warranties regarding their authority to enter into the agreement, the absence of undisclosed liabilities, compliance with applicable laws, and other relevant matters. This section serves to ensure transparency and protect the interests of all parties. 5. Covenants and Obligations: The agreement outlines the covenants and obligations of each party, including provisions related to non-competition, non-solicitation, and confidentiality. It defines the responsibilities and restrictions to be observed during and after the partnership. 6. Closing and Post-Closing Procedures: This section outlines the process of closing the transaction, including the transfer of necessary documents, financial statements, and any required regulatory approvals. It also specifies the procedures to be followed post-closing, such as the payment of taxes and filing of necessary notifications. Types of New Mexico Sample Partnership Interest Purchase Agreements: 1. Franklin Covey Company and Daytracker.com — 100% Acquisition: This agreement involves Franklin Covey Company acquiring 100% of Daytracker.com's partnership interest, making it a wholly-owned subsidiary or merging entity. 2. Franklin Covey Company and Daytracker.com — Partial Acquisition: In this scenario, Franklin Covey Company purchases a predetermined percentage of Daytracker.com's partnership interest while leaving the remaining interest with the existing owners. This arrangement allows for shared ownership and collaboration. 3. Franklin Covey Company and Daytracker.com — Joint Venture: Instead of an outright purchase, this agreement establishes a joint venture between Franklin Covey Company and Daytracker.com. Each party contributes its expertise, resources, and capital to create a new entity and jointly pursue specified objectives. Conclusion: A well-drafted New Mexico Sample Partnership Interest Purchase Agreement is crucial for establishing a transparent and mutually beneficial partnership. Whether it be a complete acquisition, partial purchase, or joint venture, understanding the key elements and purpose of the agreement ensures a smooth and legally sound transition. Franklin Covey Company and Daytracker.com can utilize these agreements to formalize their partnership, laying the foundation for future success.

Title: Understanding the New Mexico Sample Partnership Interest Purchase Agreement for Franklin Covey Company and Daytracker.com Introduction: In the world of business, partnerships play a crucial role in achieving mutual growth and success. When it comes to formalizing a partnership, it is essential to have a clear and comprehensive agreement in place. This article will delve into the specifics of the New Mexico Sample Partnership Interest Purchase Agreement between Franklin Covey Company and Daytracker.com, highlighting its key elements and variations. Key Elements of the Agreement: 1. Parties Involved: The agreement identifies the parties involved, namely, Franklin Covey Company and Daytracker.com. It outlines their official names, addresses, and other relevant details pertaining to the partnership. 2. Partnership Interest Description: This section outlines the scope and nature of the partnership, defining the specific interest being purchased by Franklin Covey Company. It includes details such as the percentage of partnership interest being acquired and any accompanying rights and privileges. 3. Purchase Consideration: The New Mexico Sample Partnership Interest Purchase Agreement specifies the consideration to be paid by Franklin Covey Company to Daytracker.com for the partnership interest. This may include cash, stocks, or a combination of both, as mutually agreed upon by the parties. 4. Representations and Warranties: Both parties provide representations and warranties regarding their authority to enter into the agreement, the absence of undisclosed liabilities, compliance with applicable laws, and other relevant matters. This section serves to ensure transparency and protect the interests of all parties. 5. Covenants and Obligations: The agreement outlines the covenants and obligations of each party, including provisions related to non-competition, non-solicitation, and confidentiality. It defines the responsibilities and restrictions to be observed during and after the partnership. 6. Closing and Post-Closing Procedures: This section outlines the process of closing the transaction, including the transfer of necessary documents, financial statements, and any required regulatory approvals. It also specifies the procedures to be followed post-closing, such as the payment of taxes and filing of necessary notifications. Types of New Mexico Sample Partnership Interest Purchase Agreements: 1. Franklin Covey Company and Daytracker.com — 100% Acquisition: This agreement involves Franklin Covey Company acquiring 100% of Daytracker.com's partnership interest, making it a wholly-owned subsidiary or merging entity. 2. Franklin Covey Company and Daytracker.com — Partial Acquisition: In this scenario, Franklin Covey Company purchases a predetermined percentage of Daytracker.com's partnership interest while leaving the remaining interest with the existing owners. This arrangement allows for shared ownership and collaboration. 3. Franklin Covey Company and Daytracker.com — Joint Venture: Instead of an outright purchase, this agreement establishes a joint venture between Franklin Covey Company and Daytracker.com. Each party contributes its expertise, resources, and capital to create a new entity and jointly pursue specified objectives. Conclusion: A well-drafted New Mexico Sample Partnership Interest Purchase Agreement is crucial for establishing a transparent and mutually beneficial partnership. Whether it be a complete acquisition, partial purchase, or joint venture, understanding the key elements and purpose of the agreement ensures a smooth and legally sound transition. Franklin Covey Company and Daytracker.com can utilize these agreements to formalize their partnership, laying the foundation for future success.