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

• Category: Corporations - Public - Purchase
• State: Multi-State
• City: Houston
• 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 Houston Texas Sample Partnership Interest Purchase Agreement between Franklin Covey Company, Daytracker.com, et al. Introduction: The Houston Texas Sample Partnership Interest Purchase Agreement is a legal document that outlines the terms and conditions involved in the purchase of partnership interests between participating parties. In this case, the agreement is between Franklin Covey Company, Daytracker.com, and others, highlighting the agreement's importance and its various types. 1. Key Components of a Partnership Interest Purchase Agreement: — Agreement Parties: Franklin Covey Company, Daytracker.com, et al. — Agreement Date: The date on which the agreement is signed. — Purchase Price: The amount of money to be paid by the purchaser for the partnership interest. — Partnership Interest: The ownership percentage being transferred from the selling party. — Representations and Warranties: Statements made by the selling party to ensure the validity of the transfer. — Closing Conditions: Requirements that must be satisfied before the transaction can be completed. — Governing Law: The jurisdiction and legal framework concerning the agreement. — Confidentiality: Provisions to protect the confidentiality of non-public information. — Indemnification: A clause outlining the responsibilities of the parties in case of any potential lawsuits. — Termination: Conditions under which the agreement can be terminated. 2. Types of Houston Texas Partnership Interest Purchase Agreements: a. Asset Purchase Agreement: — This type of agreement focuses on purchasing specific assets of the partnership instead of the entire partnership. — Useful when the buyer aims to acquire particular assets like intellectual property, inventory, or customer lists. b. Equity Purchase Agreement: — In an equity purchase agreement, the buyer purchases the entire partnership, along with its assets and liabilities. — Typically employed when the buyer intends to acquire the partnership's operations, existing contracts, and goodwill. c. Cross-Purchase Agreement: — A cross-purchase agreement involves existing partners purchasing the partnership interests from departing or deceased partners. — This helps maintain the balance of ownership among the remaining partners and avoids the introduction of unfamiliar ownership. d. Entity Purchase Agreement: — In an entity purchase agreement, the partnership itself buys back the partnership interest from the selling partner(s). — Commonly utilized when the partnership has sufficient funds or credit to redeem the interests. Conclusion: Understanding the components and types of the Houston Texas Sample Partnership Interest Purchase Agreement is crucial when engaging in such business transactions. The agreement ensures a smooth transfer of partnership interests while safeguarding the interests of all involved parties. Whether structured as an asset purchase, equity purchase, cross-purchase, or entity purchase agreement, this legally binding document solidifies the terms and conditions associated with the transaction, allowing for successful partnerships and collaborations moving forward.

Title: Exploring the Houston Texas Sample Partnership Interest Purchase Agreement between Franklin Covey Company, Daytracker.com, et al. Introduction: The Houston Texas Sample Partnership Interest Purchase Agreement is a legal document that outlines the terms and conditions involved in the purchase of partnership interests between participating parties. In this case, the agreement is between Franklin Covey Company, Daytracker.com, and others, highlighting the agreement's importance and its various types. 1. Key Components of a Partnership Interest Purchase Agreement: — Agreement Parties: Franklin Covey Company, Daytracker.com, et al. — Agreement Date: The date on which the agreement is signed. — Purchase Price: The amount of money to be paid by the purchaser for the partnership interest. — Partnership Interest: The ownership percentage being transferred from the selling party. — Representations and Warranties: Statements made by the selling party to ensure the validity of the transfer. — Closing Conditions: Requirements that must be satisfied before the transaction can be completed. — Governing Law: The jurisdiction and legal framework concerning the agreement. — Confidentiality: Provisions to protect the confidentiality of non-public information. — Indemnification: A clause outlining the responsibilities of the parties in case of any potential lawsuits. — Termination: Conditions under which the agreement can be terminated. 2. Types of Houston Texas Partnership Interest Purchase Agreements: a. Asset Purchase Agreement: — This type of agreement focuses on purchasing specific assets of the partnership instead of the entire partnership. — Useful when the buyer aims to acquire particular assets like intellectual property, inventory, or customer lists. b. Equity Purchase Agreement: — In an equity purchase agreement, the buyer purchases the entire partnership, along with its assets and liabilities. — Typically employed when the buyer intends to acquire the partnership's operations, existing contracts, and goodwill. c. Cross-Purchase Agreement: — A cross-purchase agreement involves existing partners purchasing the partnership interests from departing or deceased partners. — This helps maintain the balance of ownership among the remaining partners and avoids the introduction of unfamiliar ownership. d. Entity Purchase Agreement: — In an entity purchase agreement, the partnership itself buys back the partnership interest from the selling partner(s). — Commonly utilized when the partnership has sufficient funds or credit to redeem the interests. Conclusion: Understanding the components and types of the Houston Texas Sample Partnership Interest Purchase Agreement is crucial when engaging in such business transactions. The agreement ensures a smooth transfer of partnership interests while safeguarding the interests of all involved parties. Whether structured as an asset purchase, equity purchase, cross-purchase, or entity purchase agreement, this legally binding document solidifies the terms and conditions associated with the transaction, allowing for successful partnerships and collaborations moving forward.