A memorandum of understanding (MOU) in a sale and purchase situation. This represents the good faith intentions of the parties but also include deposit from the Buyer. This document is drafted in favour of the Seller.
The Main Contents of This Document Addresses:
The Parties wish to set out in this Memorandum ("MOU") the general terms and conditions of a proposed acquisition of their % interest in (the “Target”), from all existing shareholders of the Target to (collectively, the “Parties”). 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 on the detailed terms of the acquisition, on the basis of the principles set out in this Memorandum, and to take all necessary other actions in order successfully to complete the Proposed Transaction (as defined below).
The buyer will acquire an interest in the Target (the “Proposed Transaction”), including all of the assets, owned by the Target that is used in, or necessary for the conduct of its business activities, including, without limitation: the Target’s license(s), subject to any obligations contained in such license(s) which are disclosed to the Buyer and subsisting at the time of signing of the SPA (defined below) and thereafter such further conditions imposed by a regulator relating to the change of ownership of the Target at or prior to completion of the Proposed Transaction.
memorandum of understanding,
sale and purchase,
heads of agreement,
heads of terms,
Letter of Intent,
mou between buyer and seller,
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.
Not the right document?
Don’t worry, we have thousands of documents for you to choose from: