The Asset Purchase Agreement with Installment Payments is a crucial document used in Philippine business transactions where assets are sold with payment structured over time. This agreement type is particularly relevant when buyers require flexible payment terms for substantial asset acquisitions, whether these are real estate, equipment, or other valuable properties. The document must comply with Philippine legal requirements, including the Civil Code, Maceda Law for real estate installments, and relevant tax regulations. It is commonly used in business expansions, property developments, and major equipment purchases, providing security for sellers while offering payment flexibility to buyers. The agreement includes comprehensive provisions for asset description, payment terms, default remedies, and transfer mechanisms, all structured within the Philippine legal framework.
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1. Parties: Identification of the seller and buyer with complete details as required under Philippine law
2. Background: Context of the transaction and brief description of the asset(s) being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the asset(s), including description and scope
5. Purchase Price: Total purchase price, including computation and valuation details
6. Payment Terms: Installment payment structure, including payment schedule, interest rates, and payment methods
7. Conditions Precedent: Conditions that must be satisfied before completion
8. Completion: Process and requirements for transfer of ownership and closing
9. Seller's Representations and Warranties: Seller's assertions about the asset(s) and authority to sell
10. Buyer's Representations and Warranties: Buyer's assertions about authority and capacity to purchase
11. Default and Remedies: Consequences of default and available remedies, incorporating Maceda Law provisions
12. Risk and Insurance: Allocation of risk and insurance requirements during the installment period
13. Tax Provisions: Allocation of tax responsibilities and compliance with Philippine tax laws
14. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction details
15. Notices: Process and requirements for formal communications between parties
16. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments
1. Security Arrangements: Required when additional security or collateral is provided for the installment payments
2. Third Party Rights: Needed when there are existing liens, encumbrances, or third-party interests
3. Environmental Matters: Required for assets with potential environmental implications or compliance requirements
4. Employee Matters: Necessary when the asset purchase affects employment relationships
5. Intellectual Property: Required when the assets include intellectual property rights
6. Transitional Services: Needed when the seller will provide post-completion support or services
7. Confidentiality: Optional when parties want specific confidentiality provisions beyond general obligations
8. Force Majeure: Optional clause for circumstances beyond parties' control affecting performance
1. Asset Schedule: Detailed description and inventory of all assets being purchased
2. Payment Schedule: Detailed breakdown of installment payments, including dates, amounts, and interest calculations
3. Title Documents: List of all title documents and registration certificates
4. Encumbrances: List of existing encumbrances, liens, or other restrictions on the assets
5. Required Consents: List of required third-party or governmental consents and approvals
6. Completion Checklist: List of documents and actions required for completion
7. Form of Transfer Documents: Templates of documents required for transferring ownership
8. Due Diligence Results: Summary of due diligence findings and outstanding issues
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Manufacturing
Agriculture
Mining
Technology
Retail
Construction
Transportation
Energy
Healthcare
Hospitality
Industrial Equipment
Commercial Property
Automotive
Relevant Teams
Legal
Finance
Operations
Procurement
Compliance
Risk Management
Treasury
Business Development
Corporate Affairs
Asset Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Legal Officer
Corporate Counsel
Finance Director
Commercial Director
Asset Manager
Property Manager
Business Development Manager
Operations Director
Investment Manager
Risk Manager
Compliance Officer
Treasury Manager
Corporate Secretary
Procurement Manager
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