Power of Attorney - Seller Appointing Buyer as Attorney

Company Shares Sale

No. of Prokens Required: 1 |

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Description:

This POA is suitable for the sale of shares in a private company where the Seller gives security interest of the Shares to the Buyer by appointing the Buyer as its Attorney.

By way of security for the interest of the Attorney in the Shares, the Principal wishes to appoint the Buyer as its Attorney, upon the terms and conditions of this Deed.

For the purpose of securing the interest of the Attorney in the Shares, the Principal irrevocably and by way of security appoints the Attorney as its true and lawful attorney with authority on its behalf and in its name or otherwise to exercise all rights, powers and privileges attaching to the Shares or otherwise capable of being exercised by the registered holder of the Shares and for such purpose to do all such acts and things and to execute all such deeds and other documents as the Attorney shall consider necessary or desirable pending registration of the Shares into the name of the Attorney including, without prejudice to the generality of the foregoing, all or any of the following (in each case in such manner and on such terms as the Attorney in its absolute discretion shall think fit).

How to use this Document?

This document may be used by the Principal to appoint the Buyer as its Attorney and where a power of attorney (POA) is needed during the sale of shares in a private company. 

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Document Type:

Deed /poa / authorisation / agency / escrow

Category:

Business > General Business > POA / Appointment / Authority Letter

 
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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.