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Directors Resolutions Redeeming Shares | Canada
Before a Canadian corporation can redeem any of its issued shares, the action must be authorized by a Resolution of the Directors.
- Use this easy downloadable template to prepare the Resolution form.
- By passing the Resolution, the Board of Directors authorizes the redemption of shares from a shareholder.
- The shares will be redeemed provided that the corporation determines that redeeming the shares would not render the corporation unable to meet its liabilities.
- A resolution for redemption of shares also requires the consent of the shareholders.
- This corporate template can be used by federal corporations and by any provincial corporation which was formed under a Business Corporations Act. A French language translation is required for use in Quebec.
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Asset Purchase Agreement for Franchise | Canada
Sell the assets of a franchise business to a new franchisee with this Asset Purchase Agreement for Canadian franchises.
- The purchaser will purchase the assets of the franchise business, including inventory, parts and any equity the vendor has in the leased equipment.
- The purchaser will assume the responsibilities of a franchisee under the main Franchise Agreement with the franchisor.
- The purchaser is not obligated to assume or perform any obligation of the vendor except for the equipment leases which the purchaser has accepted prior to closing.
- The purchaser will assume the premises lease from the vendor.
- The purchase price is (i) cost less depreciation for inventory for inventory and (ii) actual cost for parts.
- The Asset Purchase Agreement is governed by Canadian laws. It does not contain references to specific provincial franchising laws and regulations and can be modified for use in most provinces and territories of Canada except for Quebec.
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Share Purchase and Loan Agreement | Canada
Acquire all the shares of a Canadian corporation with this Share Purchase and Loan Agreement.
- The purchaser agrees to purchase the shares and to loan the corporation enough funds to pay out existing loans to shareholders or other related parties.
- The purchaser and the vendor mutually indemnify each other against any claims arising due to any breach or misrepresentation.
- The vendor also indemnifies the purchaser against claims arising from the business and operations of the company prior to the closing of the transaction.
- The corporation warrants that there are no outstanding options, agreements or warrants to purchase its shares.
- This legal form template is available in MS Word format and is fully editable to meet your business needs.
- Governed by Canadian laws and intended for use only in Canada.
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Nova Scotia Share Purchase Agreement
Sell shares in a Nova Scotia corporation to a purchaser with this short form Share Purchase Agreement.
- The vendor will continue to hold the shares until all conditions are met, including payment of the purchase price.
- Once the share purchase price is fully paid, the shares will be transferred to the purchaser.
- The template is fully editable so you can customize it with the specific terms and conditions you want.
- Intended for use only in the Province of Nova Scotia, Canada.
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Ontario Share Purchase Agreement and Assignment of Shareholder Loans
Sell the shares of an Ontario corporation and transfer any existing shareholder loans with this Share Purchase and Assignment Agreement.
- The seller sells its shares and assigns the balance of shareholder loans still outstanding over to the buyer, who is taking over the business of the company.
- The purchase price will be allocated between the shares and the shareholder loans, at fair market value.
- The buyer is at liberty to contact customers, suppliers and employees to notify them of the change of control. The seller will operate the business until closing.
- The parties will each file any required tax elections with respect to the transaction.
- This template is available as a downloadable and fully customizable MS Word document.
- Intended for use only in the Province of Ontario, Canada.
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