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Asset Purchase Form Template for New Zealand

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Key Requirements PROMPT example:

Asset Purchase Form

"I need an Asset Purchase Form for buying manufacturing equipment worth NZD 500,000 from a New Zealand supplier, with completion scheduled for March 15, 2025, including specific warranties about the equipment's condition and performance."

Document background
The Asset Purchase Form is a critical legal document used in New Zealand business transactions when one party wishes to acquire specific assets from another party. This document is essential for transactions ranging from simple equipment purchases to complex business asset acquisitions, providing a structured framework that ensures compliance with New Zealand commercial law. It includes comprehensive details about the assets being transferred, purchase price, warranties, and completion requirements, while incorporating necessary provisions from relevant legislation such as the Contract and Commercial Law Act 2017, Property Law Act 2007, and Goods and Services Tax Act 1985. The form is designed to protect both parties' interests and ensure a clear, legally binding transfer of ownership while managing potential risks and obligations associated with the transaction.
Suggested Sections

1. Parties: Identification and details of the seller and purchaser, including full legal names, company registration numbers if applicable, and addresses

2. Background: Context of the transaction, brief description of the assets, and purpose of the agreement

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpreting the agreement

4. Sale and Purchase: Core transaction terms, including clear statement of sale and purchase obligation

5. Purchase Price: Detailed breakdown of the purchase price, payment terms, and payment method

6. Conditions Precedent: Any conditions that must be satisfied before completion of the purchase

7. Completion: Details of when, where, and how completion will take place, including actions required by each party

8. Seller's Warranties: Standard warranties regarding ownership, condition, and status of the assets

9. Purchaser's Warranties: Basic warranties regarding authority to enter agreement and financial capacity

10. Risk and Insurance: Allocation of risk and responsibility for insurance before and after completion

11. Confidentiality: Obligations regarding confidential information

12. GST: GST treatment of the transaction and related obligations

13. General Provisions: Standard boilerplate clauses including notices, amendment, waiver, and governing law

Optional Sections

1. Employee Matters: Include when the purchase involves transfer of employees or employee-related obligations

2. Intellectual Property: Include when intellectual property assets are part of the purchase

3. Post-Completion Obligations: Include when there are specific obligations that continue after completion

4. Non-Competition: Include when restraint of trade provisions are required

5. Third Party Consents: Include when third party approvals are required for the asset transfer

6. Environmental Matters: Include when environmental liabilities or compliance is relevant

7. Transitional Services: Include when the seller will provide services to the purchaser post-completion

8. Tax Indemnity: Include when specific tax indemnities are required beyond standard warranties

Suggested Schedules

1. Schedule 1 - Asset Description: Detailed description and list of all assets being purchased

2. Schedule 2 - Purchase Price Allocation: Breakdown of purchase price across different asset categories

3. Schedule 3 - Encumbrances: List of any existing encumbrances, liens, or security interests

4. Schedule 4 - Completion Obligations: Detailed list of actions required at completion

5. Schedule 5 - Excluded Assets: List of assets specifically excluded from the purchase

6. Schedule 6 - Contracts: List of contracts being transferred or assigned

7. Appendix A - Form of Transfer Documents: Templates for any required transfer documentation

8. Appendix B - Due Diligence Results: Summary of due diligence findings and disclosed matters

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions









































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Relevant Industries

Manufacturing

Retail

Technology

Real Estate

Agriculture

Professional Services

Healthcare

Hospitality

Construction

Transport and Logistics

Mining and Resources

Education

Financial Services

Relevant Teams

Legal

Finance

Procurement

Operations

Risk and Compliance

Corporate Development

Investment

Property

Commercial

Executive Leadership

Business Development

Asset Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Commercial Director

Business Development Manager

Asset Manager

Operations Manager

Finance Manager

Procurement Manager

Risk Manager

Company Secretary

Investment Manager

Property Manager

Contract Administrator

Corporate Lawyer

Transaction Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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