Harris Texas Sample Partnership Interest Purchase Agreement between Franklin Covey Company, Daytracker.com, et al

• Category: Corporations - Public - Purchase
• State: Multi-State
• County: Harris
• 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: Exploring the Harris Texas Sample Partnership Interest Purchase Agreements between Franklin Covey Company, Daytracker.com, et al. Introduction: In the realm of partnership interest purchase agreements, the Harris Texas sample agreement serves as a prominent reference point for parties looking to engage in such transactions. This detailed description delves into the nature, purpose, and various types of these agreements, specifically focusing on the partnership interest purchase agreements between Franklin Covey Company and Daytracker.com. I. Understanding Partnership Interest Purchase Agreements: 1. Definition: A partnership interest purchase agreement is a legally binding contract that allows one party (the purchaser) to acquire the ownership interests or shares of another party (the seller) in a partnership or company. 2. Parties: The agreement involves two primary parties: the purchaser (Franklin Covey Company) and the seller (Daytracker.com). Other potential parties may include individual partners, investors, and legal representatives. 3. Objectives: The agreement outlines the terms and conditions for the purchase, including the price, payment method, allocation of assets and liabilities, warranties, and non-compete clauses. II. Key Elements of the Harris Texas Sample Partnership Interest Purchase Agreement: 1. Purchase Price and Payment: — Determining a fair purchase price for the partnership interest. — Structuring payment terms, such as lump-sum payments or installments. — Provision for a security deposit or an escrow account to protect both parties. 2. Representations and Warranties: — Detailed disclosure of relevant information by the seller. — Ensuring that the seller holds clear title to the partnership interest. — Verification of the absence of undisclosed liabilities or legal disputes. 3. Non-Compete Agreement: — Restricting the seller from engaging in a similar business that may compete with the purchaser. — Specifying the duration and geographic scope of the non-compete clause. — Outlining any potential penalties or remedies for breach of the agreement. 4. Closing and Transfer of Assets: — Establishing the closing date and location. — Identifying the assets and liabilities to be transferred or excluded. — Ensuring all required documentation, approvals, and consents have been obtained. III. Types of Harris Texas Sample Partnership Interest Purchase Agreements: 1. Standard Purchase Agreement: — Covers the purchase of a complete partnership interest in the purchaser. — Typically includes provisions related to purchase price, payment terms, and representations and warranties. 2. Partial Purchase Agreement: — Allows the purchaser to acquire a specific percentage or portion of the partnership interest. — May involve complex calculations and adjustments to determine the purchase price. 3. Conditional Purchase Agreement: — Imposes specific conditions that must be met before the purchase is finalized. — Conditions may include regulatory approvals, financial performance milestones, or obtaining necessary consents. Conclusion: The Harris Texas sample partnership interest purchase agreement between Franklin Covey Company and Daytracker.com represents a comprehensive framework for such transactions. Parties can customize the agreement based on their specific needs, whether it is a standard purchase, partial purchase, or conditional purchase. By considering the relevant keywords and elements mentioned above, stakeholders can navigate through these agreements effectively, ensuring a successful and legally compliant partnership interest acquisition.

Title: Exploring the Harris Texas Sample Partnership Interest Purchase Agreements between Franklin Covey Company, Daytracker.com, et al. Introduction: In the realm of partnership interest purchase agreements, the Harris Texas sample agreement serves as a prominent reference point for parties looking to engage in such transactions. This detailed description delves into the nature, purpose, and various types of these agreements, specifically focusing on the partnership interest purchase agreements between Franklin Covey Company and Daytracker.com. I. Understanding Partnership Interest Purchase Agreements: 1. Definition: A partnership interest purchase agreement is a legally binding contract that allows one party (the purchaser) to acquire the ownership interests or shares of another party (the seller) in a partnership or company. 2. Parties: The agreement involves two primary parties: the purchaser (Franklin Covey Company) and the seller (Daytracker.com). Other potential parties may include individual partners, investors, and legal representatives. 3. Objectives: The agreement outlines the terms and conditions for the purchase, including the price, payment method, allocation of assets and liabilities, warranties, and non-compete clauses. II. Key Elements of the Harris Texas Sample Partnership Interest Purchase Agreement: 1. Purchase Price and Payment: — Determining a fair purchase price for the partnership interest. — Structuring payment terms, such as lump-sum payments or installments. — Provision for a security deposit or an escrow account to protect both parties. 2. Representations and Warranties: — Detailed disclosure of relevant information by the seller. — Ensuring that the seller holds clear title to the partnership interest. — Verification of the absence of undisclosed liabilities or legal disputes. 3. Non-Compete Agreement: — Restricting the seller from engaging in a similar business that may compete with the purchaser. — Specifying the duration and geographic scope of the non-compete clause. — Outlining any potential penalties or remedies for breach of the agreement. 4. Closing and Transfer of Assets: — Establishing the closing date and location. — Identifying the assets and liabilities to be transferred or excluded. — Ensuring all required documentation, approvals, and consents have been obtained. III. Types of Harris Texas Sample Partnership Interest Purchase Agreements: 1. Standard Purchase Agreement: — Covers the purchase of a complete partnership interest in the purchaser. — Typically includes provisions related to purchase price, payment terms, and representations and warranties. 2. Partial Purchase Agreement: — Allows the purchaser to acquire a specific percentage or portion of the partnership interest. — May involve complex calculations and adjustments to determine the purchase price. 3. Conditional Purchase Agreement: — Imposes specific conditions that must be met before the purchase is finalized. — Conditions may include regulatory approvals, financial performance milestones, or obtaining necessary consents. Conclusion: The Harris Texas sample partnership interest purchase agreement between Franklin Covey Company and Daytracker.com represents a comprehensive framework for such transactions. Parties can customize the agreement based on their specific needs, whether it is a standard purchase, partial purchase, or conditional purchase. By considering the relevant keywords and elements mentioned above, stakeholders can navigate through these agreements effectively, ensuring a successful and legally compliant partnership interest acquisition.