Buyback Agreement

Buyback Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Buyback Agreement for our UAE manufacturing company to sell equipment worth AED 5 million to a finance company with a commitment to repurchase it by March 2025, including specific maintenance obligations during the buyback period."

Document background

The Buyback Agreement serves as a crucial instrument in UAE commercial transactions, providing a structured framework for arrangements where one party sells assets or securities with a commitment to repurchase them at a future date. This document type is particularly relevant in the UAE market where such transactions must comply with specific local regulations, including UAE Federal Law No. 2 of 2015 (Companies Law), SCA regulations, and Central Bank requirements where applicable. The agreement is commonly used in various contexts, including share repurchase programs, asset financing arrangements, and strategic corporate transactions. It includes detailed provisions for pricing mechanisms, timing of repurchase, risk allocation, and regulatory compliance, while ensuring adherence to UAE legal requirements and market practices. The document's structure accommodates both conventional and Islamic finance principles, making it versatile for various transaction types in the UAE market.

Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names and addresses

2. Background: Context of the agreement, including the purpose of the buyback arrangement and relevant history

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Subject Matter: Clear identification of the assets/shares subject to the buyback arrangement

5. Purchase Price and Payment Terms: Detailed terms of the initial sale price and buyback price, including payment mechanisms and timing

6. Buyback Terms: Specific conditions and mechanics of the buyback, including timing and execution process

7. Representations and Warranties: Statements of fact and assurances from both parties regarding their capacity, authority, and the assets involved

8. Conditions Precedent: Conditions that must be satisfied before the agreement becomes effective

9. Regulatory Compliance: Provisions ensuring compliance with UAE laws, including Companies Law and SCA regulations

10. Risk and Title: Transfer of risk and ownership provisions during the buyback period

11. Events of Default: Circumstances constituting default and corresponding remedies

12. Termination: Conditions and process for terminating the agreement

13. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

14. Notices: Process and requirements for formal communications between parties

15. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments

Optional Sections

1. Security Arrangements: Additional security provisions if required for the transaction, such as guarantees or collateral

2. Third Party Rights: Provisions regarding the rights of third parties, if relevant to the transaction

3. Tax Considerations: Specific tax-related provisions if the transaction has significant tax implications

4. Regulatory Approvals: Additional regulatory approval requirements for specific sectors or transaction types

5. Force Majeure: Provisions for unforeseen circumstances preventing performance, if relevant to the specific transaction

6. Confidentiality: Detailed confidentiality provisions if the standard general provisions are insufficient

7. Assignment and Transfer: Specific provisions regarding the ability to assign or transfer rights under the agreement

8. Islamic Finance Compliance: Additional provisions ensuring compliance with Islamic finance principles if required

Suggested Schedules

1. Asset Schedule: Detailed description and specifications of the assets subject to the buyback

2. Pricing Schedule: Detailed breakdown of pricing, including any adjustments or calculations

3. Form of Notice: Template for formal notices required under the agreement

4. Required Approvals: List of all regulatory and corporate approvals required

5. Timeline Schedule: Detailed timeline of key dates and deadlines for the buyback process

6. Corporate Authorizations: Copies of relevant corporate authorizations and board resolutions

7. Due Diligence Checklist: List of required due diligence items and their status

8. Completion Checklist: Detailed checklist of actions required for completion of the buyback

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services

Banking

Investment Management

Real Estate

Manufacturing

Trading

Retail

Technology

Energy

Infrastructure

Telecommunications

Professional Services

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Development

Strategy

Operations

Board Secretariat

Investment

Corporate Finance

Relevant Roles

Chief Financial Officer

Legal Counsel

Corporate Secretary

Finance Director

Treasury Manager

Investment Manager

Compliance Officer

Risk Manager

Corporate Finance Manager

Business Development Director

Strategy Director

Operations Director

Board Member

Managing Director

Chief Executive Officer

Financial Controller

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Authors

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