This is a template joint venture dissolution agreement. It details the terms and arrangements after the joint venture dissolves. This agreement is drafted in neutral form, for two parties only.
In this document, the JV Leader will purchase the Participant's right and interest in the joint venture. Additionally, the parties will set out arrangements for the purchase (e.g. amount of consideration, the date of transfer, indemnity).
The parties will also provide for post-dissolution arrangements. For example, the name and logo of the current joint venture can still be used by the JV Leader. It helps avoid legal disputes later.
Lastly, this document covers exhibits that allow the assignment of leases, contracts and other obligations. These ensure the dissolution runs smoothly.
The JV Leader and the Participant should read this document (including the exhibits) carefully. They should ensure that the date (e.g. transaction date) and the existing obligations are filled in correctly, and the amount to be paid are accurate.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.
The original agreement should be attached.
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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.