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This two-party Shareholders Agreement outlines the formation of a jointly-owned company between two parties. The agreement is drafted in a neutral form and includes standard clauses for minority protection.
The purpose of the agreement is to govern the relations between the two parties as shareholders in the company. The company will be incorporated as a company limited by shares and will acquire certain rights and assets. The authorized share capital will be divided equally between the parties and the registered office and auditors will be as per the agreement.
The completion of the agreement will take place within 10 days of fulfilling the conditions precedent. The parties will subscribe for their respective shares in cash, which will then be issued to them and entered in the company's register of members. Share certificates will also be issued to the parties for their shares.
This two-party Shareholders Agreement is an important document for individuals forming a Joint Venture Company. It is imperative that both parties carefully read the agreement before signing and returning a copy. This will help ensure that both parties fully understand the terms and conditions of the agreement.
Once the agreement has been signed by both parties, it is recommended that both parties retain a copy of the agreement for their records. To further reduce the risk of future disputes, it is also recommended that the signatures be witnessed by a third party.
If, in the future, either of the parties wishes to amend the agreement, it is important that both parties agree to the changes and that the amendments are recorded in writing and signed by both parties. This will help ensure that all parties are on the same page and that the terms of the agreement are up-to-date.
In summary, the two-party Shareholders Agreement is a crucial document in the establishment of a Joint Venture Company, and it is important that both parties follow the steps outlined above to ensure that the agreement is used correctly and that all parties are protected.