Shares Purchase Contract (Seller-friendly Long Form)

The Shares Purchase Contract (Seller-friendly Long Form) is a legal template that outlines the terms and conditions for the sale and purchase of shares in a company, with the main focus being on protecting the interests and rights of the seller. This contract is typically used when a seller intends to transfer ownership of shares to a buyer and wants to ensure favorable conditions and maximum protection.

The template covers various aspects and provisions related to the shares being sold, including the number of shares, price per share, payment terms, and any adjustments in case of changes to the outstanding shares. It also includes clauses related to warranties and representations made by the seller, indemnification provisions, conditions precedent, and post-closing obligations for the parties involved.

Throughout the agreement, the template prioritizes the concerns of the seller, seeking to safeguard their rights and minimize potential liabilities. It might include specific provisions to limit the buyer's ability to initiate legal actions against the seller, restrict any disclosure of confidential information beyond what is necessary, or even include non-compete or non-solicitation clauses that protect the seller's interests after the transaction.

While the template offers a seller-friendly approach, it is important for both parties to review the document carefully and seek legal advice to ensure that the contract adequately addresses their specific needs and circumstances, as well as any applicable laws or regulations.