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Share Sale And Purchase Agreement Template for Philippines

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Key Requirements PROMPT example:

Share Sale And Purchase Agreement

"I need a Share Sale and Purchase Agreement under Philippine law for the acquisition of 60% shares in a technology company, with provisions for foreign ownership compliance and an earn-out mechanism based on 2025 performance targets."

Document background
The Share Sale and Purchase Agreement is a crucial document used in Philippine corporate transactions when transferring ownership of shares from one party to another. It serves as the primary transaction document that captures all commercial terms, legal obligations, and regulatory requirements specific to the Philippine jurisdiction. This agreement must comply with the Corporation Code of the Philippines, Securities Regulation Code, and relevant Bureau of Internal Revenue regulations. It typically includes detailed provisions on purchase price mechanisms, conditions precedent, warranties, tax matters, and completion procedures. The document is particularly important as it needs to address specific Philippine law requirements such as foreign ownership restrictions in certain industries, mandatory tax clearances, and competition law considerations where applicable. It's commonly used in both private and public company transactions, mergers and acquisitions, corporate restructuring, and investment deals.
Suggested Sections

1. Parties: Identification of the seller(s), buyer(s) and the target company

2. Background: Context of the transaction and brief description of the target company

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

4. Sale and Purchase: Core transaction terms including the shares being sold and purchase price

5. Consideration: Details of the purchase price, payment terms, and any price adjustment mechanisms

6. Conditions Precedent: Conditions that must be satisfied before completion can occur

7. Pre-Completion Obligations: Obligations of parties between signing and completion, including conduct of business requirements

8. Completion: Mechanics of completion, including timing, location, and actions required

9. Warranties: Seller's warranties regarding the shares, target company, and business

10. Limitations on Liability: Limitations on warranty claims and general liability caps

11. Tax Matters: Tax-related provisions, including tax warranties, indemnities, and compliance requirements

12. Confidentiality: Obligations regarding confidential information and announcements

13. Further Assurance: Obligations to take further actions necessary to give effect to the agreement

14. Notices: Process and requirements for giving notices under the agreement

15. General Provisions: Standard boilerplate provisions including governing law, assignment, and amendments

Optional Sections

1. Escrow Arrangements: Required when part of the consideration is held in escrow as security for warranty claims or indemnities

2. Non-Competition and Non-Solicitation: Included when restrictions on seller's future activities are required

3. Management and Employee Matters: Needed when there are specific arrangements for key employees or management retention

4. Regulatory Compliance: Required for regulated industries or when specific regulatory approvals are needed

5. Earn-out Provisions: Included when part of the consideration is contingent on future performance

6. Break Fee: Used when parties want to specify compensation for failure to complete

7. Transitional Services: Required when seller needs to provide continued services post-completion

8. Multiple Sellers Provisions: Required when there are multiple sellers to address joint and several liability

Suggested Schedules

1. Details of the Shares: Complete description of shares being transferred including share certificates

2. Purchase Price Calculation: Detailed methodology for calculating the final purchase price including adjustments

3. Warranties: Detailed warranties regarding the business, assets, and liabilities

4. Properties: List and details of all real property owned or leased by the target company

5. Material Contracts: List and copies of all material contracts of the target company

6. Intellectual Property: Details of all IP owned or licensed by the target company

7. Employee Information: Details of employees, benefits, and employment agreements

8. Completion Obligations: Detailed list of documents and actions required at completion

9. Permitted Leakage: List of permitted payments or value extractions in locked box deals

10. Data Room Index: Index of all documents disclosed in due diligence

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 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

Financial Services

Manufacturing

Technology

Real Estate

Retail

Healthcare

Energy

Transportation

Telecommunications

Mining

Agriculture

Education

Construction

Tourism

Media and Entertainment

Relevant Teams

Legal

Finance

Corporate Development

Mergers & Acquisitions

Tax

Compliance

Corporate Secretarial

Due Diligence

Business Development

Investment

Executive Leadership

Risk Management

Treasury

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Corporate Secretary

General Counsel

Legal Director

Corporate Lawyer

Investment Banker

M&A Director

Finance Director

Tax Director

Compliance Officer

Business Development Director

Corporate Development Manager

Investment Manager

Transaction Advisory Manager

Due Diligence Manager

Board Member

Managing Director

Private Equity Manager

Venture Capital 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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