Free Membership Interest Purchase Agreement Template
Membership Interest Purchase Agreement
This Membership Interest Purchase Agreement (the "Agreement") is entered into as of the 1st day of December, 2050, by and between:
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[Your Company Name], a company organized and existing under the laws of the State of Texas, with its principal office located at [Your Company Address] ("Seller"), and
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BeansBee, a company organized and existing under the laws of the State of Texas, with its principal office located at Austin, TX 73301 ("Buyer").
Both parties hereby agree to the terms and conditions set forth in this Membership Interest Purchase Agreement.
I. PURCHASE AND SALE OF MEMBERSHIP INTERESTS
1.1 Agreement to Purchase
The Seller agrees to sell, and the Buyer agrees to purchase, the Membership Interests as detailed below.
1.2 Transfer of Interests
The Seller agrees to transfer to the Buyer, and the Buyer agrees to accept, the Membership Interests of [Your Company Name] in the amount of 1,000 shares, representing 20% of the total ownership in the company.
II. PURCHASE PRICE AND PAYMENT TERMS
2.1 Purchase Price
The Buyer shall pay the Seller the total purchase price of $500,000 for the Membership Interests, payable in full as follows: bank wire transfer.
2.2 Payment Terms
The Buyer agrees to remit the full purchase price to the Seller on or before January 15, 2050, through the designated payment method described herein.
III. REPRESENTATIONS AND WARRANTIES
3.1 Seller's Representations
The Seller hereby represents and warrants to the Buyer that:
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The Seller has full legal right and authority to transfer the Membership Interests.
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The Membership Interests are free from any encumbrances.
3.2 Buyer's Representations
The Buyer hereby represents and warrants to the Seller that:
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The Buyer can meet the Agreement's financial obligations.
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The Buyer understands the Membership Interests and has completed due diligence.
IV. CLOSING AND TRANSFER
4.1 Closing Date
The closing of the transaction will take place on January 1, 2050, at the office of the Seller, unless the parties mutually agree to another location or date.
4.2 Transfer of Interests
Upon the execution of this Agreement and payment of the Purchase Price, the Seller shall transfer the Membership Interests to the Buyer.
V. POST-CLOSING OBLIGATIONS
5.1 Seller's Obligations
After the closing, the Seller shall:
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Assist in the transfer of necessary company documents and records.
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Ensure that the Membership Interests are fully transferred to the Buyer.
5.2 Buyer's Obligations
After the closing, the Buyer shall:
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Pay any applicable taxes resulting from the transaction.
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Assume all rights and responsibilities related to the Membership Interests.
VI. GOVERNING LAW
6.1 Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, without regard to its conflict of law principles.
VII. SIGNATORY
7.1 Seller's Signatory
[Your Name], as the authorized signatory of [Your Company Name], affirms and agrees to the terms of this Membership Interest Purchase Agreement.
Date: December 13, 2050
Authorized Signatory: [Your Name]
Title: Chief Legal Officer
7.2 Buyer's Signatory
Drake Feeney, as the authorized signatory of BeansBee, affirms and agrees to the terms of this Membership Interest Purchase Agreement.
Date: December 13, 2050
Authorized Signatory: Drake Feeney
Title: Chief Executive Officer
For any questions or clarifications, please contact [Your Name] at [Your Email].
