Free Membership Interest Transfer Agreement Template
Membership Interest Transfer Agreement
This Membership Interest Transfer Agreement (the "Agreement") is made and 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] ("Transferor"), and
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CastleBrand, a company organized and existing under the laws of the State of Texas, with its principal office located at Charlotte, NC 28202 ("Transferee").
Both parties hereby agree to the terms and conditions set forth in this Membership Interest Transfer Agreement.
I. TRANSFER OF MEMBERSHIP INTEREST
1.1 Transfer Agreement
The Transferor agrees to transfer, and the Transferee agrees to accept, the Membership Interests in [Your Company Name] described below. The Transferor will transfer 500 shares, representing 10% of the total ownership in the company.
1.2 Effective Date of Transfer
The Membership Interests shall be transferred to the Transferee on January 1, 2050 (the "Effective Date").
II. CONSIDERATION AND PAYMENT TERMS
2.1 Transfer Price
In consideration for the transfer of the Membership Interests, the Transferee agrees to pay the Transferor a total of $250,000, payable in full on or before the Effective Date.
2.2 Payment Method
The Transferee shall remit the full payment of the Transfer Price by bank wire transfer to the Transferor's designated account, as instructed by the Transferor.
III. REPRESENTATIONS AND WARRANTIES
3.1 Transferor's Representations
The Transferor represents and warrants to the Transferee that:
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The Transferor has the full legal capacity to transfer the Membership Interests.
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The Membership Interests are free of any encumbrances or claims.
3.2 Transferee's Representations
The Transferee represents and warrants to the Transferor that:
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The Transferee can afford the Transfer Price and meet all Agreement obligations.
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The Transferee has completed due diligence on the Membership Interests.
IV. CLOSING AND DELIVERY
4.1 Closing Date
The closing of the transfer shall occur on January 1, 2050, at the office of the Transferor or at another mutually agreed-upon location.
4.2 Delivery of Interests
Upon the execution of this Agreement and payment of the Transfer Price, the Transferor shall deliver the necessary documents to effectuate the transfer of the Membership Interests to the Transferee.
V. GOVERNING LAW
5.1 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.
VI. SIGNATORY
6.1 Transferor's Signatory
[Your Name], as the authorized signatory of [Your Company Name], affirms and agrees to the terms of this Membership Interest Transfer Agreement.
Date: December 13, 2050
Authorized Signatory: [Your Name]
Title: Chief Legal Officer
6.2 Transferee's Signatory
Barry Morar, as the authorized signatory of CastleBrand, affirms and agrees to the terms of this Membership Interest Transfer Agreement.
Date: December 13, 2050
Authorized Signatory: Barry Morar
Title: Chief Executive Officer
For any questions or clarifications, please contact [Your Name] at [Your Email].
