Heads of Agreement (HOA) / Heads of Terms (HOT) - Sale of Business

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Description:

This Heads of Agreement (HOA) / Heads of Terms (HOT) is applicable in a sale and purchase of business situation. This represents the good faith intentions of the parties but also includes a deposit from the Buyer. This document is drafted in favour of the Buyer.

The Parties wish to set out in this HOA the general terms and conditions of a proposed acquisition of the proportional % interest in (the “Target”), from all existing shareholders of the Target to (collectively, the “Parties”). The Target is in the specified business.

The parties recognise that the various arrangements will need careful review but each will endeavour in good faith to agree the detailed terms of the acquisition, on the basis of the principles set out in this HOA, and to take all necessary other actions in order successfully to complete the Proposed Transaction (as defined below).

How to use this Document?

 

This Document should be carefully read by the undersigning individuals.

The Heads of Agreement / Heads of Terms may be used upon the sale of a business whereby parties wish to demonstrate their good faith intentions in proceeding without it being legally binding.

This Heads of Agreement (HOA) / Heads of Terms (HOT) should be signed by the authorised signatory. 

 

How to Tailor the Document for Your Need?

 

  1. Create Document: Click “Create Document” button and fill in the details of the parties. You can click the “Fill with Member’s Information” button to complete the party’s information with your personal or business information saved to your account.

  2. Please fill in any additional information by following the step-by-step guide on the left hand side of the preview document and click the “Next” button.

  3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.

  4. Please get all parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document.

Document Type:

Mou / loi / termsheet

Category:

Business > General Business > MOU, Letter of Intent and Heads of Terms

 
Keywords:

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Author:

DocPro Legal

DocPro Legal is a team of legal professionals with a passion for making quality documents and legal contract templates widely available to the public through cutting edge technology. Our lawyers are qualified in numerous common law jurisdictions including the United Kingdom, Australia, New Zealand, India, Singapore and Hong Kong. We have experience in major law firms and international banks with expertise in business, commercial, finance, banking, litigation, family, succession and company laws.