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1. Parties: Identification and details of the seller and buyer, including registration numbers and addresses
2. Background: Context of the sale, brief description of the business, and purpose of the agreement
3. Definitions: Detailed definitions of terms used throughout the agreement
4. Sale and Purchase: Core terms of the business sale, including what is being sold and purchase price
5. Purchase Price and Payment: Detailed payment terms, including payment method, installments if any, and adjustments
6. Conditions Precedent: Conditions that must be satisfied before completion of the sale
7. Pre-Completion Obligations: Seller's obligations in running the business before completion
8. Completion: Details of the completion process, timing, and deliverables
9. Seller's Warranties: Warranties regarding the business, assets, employees, and liabilities
10. Buyer's Warranties: Warranties from the buyer regarding authority and ability to complete the purchase
11. Indemnities: Protection against specific identified risks and liabilities
12. Restrictive Covenants: Non-compete and non-solicitation provisions
13. Confidentiality: Obligations regarding confidential information
14. Employees: Treatment of employees and associated liabilities
15. Tax Matters: Tax-related provisions and allocations of tax liabilities
16. Governing Law and Jurisdiction: Nigerian law as governing law and jurisdiction for disputes
17. General Provisions: Standard boilerplate clauses including notices, amendments, and entire agreement
1. Intellectual Property: Required when the business has significant IP assets to be transferred
2. Property Matters: Needed when real property forms part of the sale
3. Environmental Matters: Required for businesses with environmental impacts or liabilities
4. Data Protection: Necessary when the business handles significant personal data
5. Regulatory Compliance: Required for heavily regulated industries
6. Foreign Investment Provisions: Needed when the buyer is a foreign entity
7. Earn-out Provisions: Used when part of the purchase price is contingent on future performance
8. Post-Completion Services: Required when the seller will provide transition services
9. Brand License: Needed when the seller retains brand ownership but grants usage rights
1. Schedule 1 - Business Assets: Detailed list of all assets included in the sale
2. Schedule 2 - Excluded Assets: List of assets specifically excluded from the sale
3. Schedule 3 - Properties: Details of all real property involved in the sale
4. Schedule 4 - Intellectual Property: List of all IP rights being transferred
5. Schedule 5 - Employee Information: Details of all employees and their terms of employment
6. Schedule 6 - Material Contracts: List of key contracts being transferred
7. Schedule 7 - Warranties: Detailed warranties given by the seller
8. Schedule 8 - Completion Deliverables: List of all documents and items to be delivered at completion
9. Schedule 9 - Permitted Encumbrances: List of permitted liens or encumbrances on assets
10. Appendix A - Completion Accounts: Pro forma completion accounts and adjustment mechanisms
11. Appendix B - Tax Covenant: Detailed tax-related provisions and indemnities
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