_, referred to as SELLER, and ___, referred to as OPTION
HOLDER, agree: In consideration of Rs._ (______&/100 rupees), paid by OPTION HOLDER to SELLER, the receipt of which is acknowledged, the SELLER grants to OPTION HOLDER, the exclusive option to acquire the followin business: __, located at ______ for a period of months. Should the OPTION HOLDER exercise the option, the following assets will be conveyed to OPTION HOLDER by SELLER: business located at above address, with all inventory and trade names. OPTION HOLDER may exercise the option by written notice to SELLER, specifying a date for closing which shall be no more than after the notice of intention to exercise.The option price shall be Rs (________ & _/100 rupees) payable as
follows:
If, prior to exercise of the option, or during the period between notice of intention to close and closing, any part of the business shall be destroyed or damaged by fire, theft or other peril, the option price shall be reduced in a sum sufficient to compensate OPTION HOLDER for the loss. In the event that there are insurance proceeds to reconstruct the loss and provide for business interruption loss, and SELLER assigns the same to OPTION HOLDER, or SELLER reconstructs the same prior to closing, no abatement of purchase price shall occur. During the term of the option, the SELLER shall carry on the business in the usual and ordinary manner up to and including the closing date of the sale, and will not enter into any agreements not in the ordinary course of its business. Further, SELLER shall not enter into any unusual agreements or make unusual commitments affecting the operation of the business, without prior approval of OPTION HOLDER….
Note: This is just the part of the agreement. To get it drafted completely by legal experts, kindly contact the expert team of Aapka Consultant by clicking here
OUR SERVICES
Company Registration I Trademark I Copyright I Patent I GST I MSME
ISO Certification I Website/App Policy I Legal Documentation
Annual Compliance I Connect Consultant
Visit: Aapka Consultant to get Online Services of CA CS & Lawyers
