Fill and Sign the Purpose of This Letter is to Outline the Manner in Which Name of Buyer Quotbuyer Form

Instruction: This is a model letter. Adapt to fit your facts and circumstances. Dear : T he p urp ose o f th is le tte r is to o utlin e th e m an ner in w hic h [n am e o f b uyer] (" B uyer), pu rp ose s to p urc h ase c erta in a sse ts o f [ n am e o f s e lle r] ( " S elle r" ). B uyer a n d S elle r r e co gniz e th at th e tr a n sa ctio n w ill re q uir e fu rth er d ocu m en ta tio n an d ap pro vals , in clu din g th e p re p ara tio n an d ap pro val o f a fo rm al a g re e m en t s e ttin g fo r th e te rm s a n d c o nditio ns o f th e p ro pose d p urc h ase in more d eta il )th e " P urc h ase A gre em en t" ); b ut b uyer a n d S elle r e x ecu te th is le tte r to e v id en ce th eir in te n tio n to p ro ceed in m utu al g ood fa ith to c arry o ut th e tr a n sa ctio n s u bsta n tia lly in th e m an ner ou tlin ed h ere in . T he p ro pose d t e rm s a n d c o nditio ns i n clu de, b ut a re n ot l im ite d t o , t h e f o llo w in g:1. Asse ts T o B e S old . Selle r w ill se ll to B uyer its in ven to rie s (" In ven to ry "); fix ed asse ts , in clu din g, w ith out lim ita tio n, fu rn itu re , eq uip m en t, m ach in ery , au to m obile s, le ase h old im pro vem en ts , a n d s u pplie s a n d to ols ; m an uals ; c ata lo gs; s a le s lite ra tu re ; file s; re co rd s; c u sto m er lis ts ; p ate n ts a n d tr a d em ark s (if a n y); re g is tr a tio ns; its n am e " _____________________" ; a n d th e rig ht to u se it s te le p hone n um bers . In ad ditio n, S elle r w ill assig n an d tr a n sfe r to B uyer th e fo llo w in g: (a ) All e q uip m en t le ase s, if a n y, u nder w hic h S elle r is th e le sse e, r e la tin g to e q uip m en t us e d i n i ts b usin ess;(b ) All purc h ase co ntr a cts , if an y, under w hic h S elle r is th e purc h ase r, re la tin g to equip m en t u se d i n i ts b usin ess;(c ) All purc h ase co ntr a cts , if an y, under w hic h S elle r is th e purc h ase r, re la tin g to inven to ry s o ld i n i ts b usin ess;(d ) All s a le s c o n tr a cts , if a n y, u nder w hic h S elle r is th e p urc h ase r, r e la tin g to in ven to ry so ld i n i ts b usin ess;(e )A ll c o ntr a cts , i f a n y, w hic h S elle r h as w ith i t s s u pplie rs .2 . Asse ts T o B e R eta in ed . Selle r w ill re ta in its cash , ch eck in g, sa v in gs, an d tr u st a c co unts ; a cco unts a n d n ote s r e ceiv ab le ; a d van ces to e m plo yees; p re p aid e x pen se s; a n d a ll its o th er cu rre n t a sse ts e x cep t i n ven to rie s. 3. Lia b ilitie s. Buyer w ill assu m e only certa in lia b ilitie s an d oblig atio ns of S elle r r e la tin g t o t h e c o ntr a cts a n d l e ase s o f e q uip m en t a n d t h e c o ntr a cts o f p urc h ase a n d s a le o f i n ven to ry men tio n ed in se ctio n 1 , ab ove. All o th er lia b ilitie s an d o blig atio ns o f S elle r, in clu din g tr a ce acco unts p ay ab le , a ccru ed w ag es, a n d t a x l ia b ilitie s, s h all r e m ain t h e s o le o blig atio n o f t h e S elle r. 4 . Purc h ase P ric e. T he P urc h ase P ric e fo r th e a sse ts d esc rib ed in s e ctio n 1 s h all b e $ ____________ (th e " P urc h ase P ric e"), w hic h s h all b e in cre ase d o r d ecre ase d b y th e p ositiv e o r ne g ativ e d if fe re n ce b etw een th e v alu e o f th e I n ven to ry a n d th e s u m o f $ ____________ (th e v alu e of th e In ven to ry s h ow n o n th e b ala n ce s h eet o f S elle r o n ____________, 2 0_____) . A p hysic al in ven to ry f o r t h e p urp ose o f d ete rm in in g t h e v alu e o f t h e I n ven to ry w ill b e t a k en a s f o llo w s: a . Betw een ____________ an d ____________, 2 0_____, S elle r w ill c au se a ph ysic al c o unt t o b e t a k en o f t h e I n ven to ry . T he p hysic al c o unt w ill b e a d ju ste d t o r e fle ct p urc h ase s an d s a le s i n t h e o rd in ary c o urs e o f b usin ess t h ro ugh ____________, 2 0_____. Buyer m ay a p poin t a re p re se n ta tiv e o r re p re se n ta tiv es to v erif y th e p hysic a l c o unt, a n d th ose re p re se n ta tiv es sh all b e en title d t o b e p re se n t a t a ll t im es d urin g t h e t a k in g o f t h e c o unt.b . Each i te m o f I n ven to ry w ill b e p ric ed i n a cco rd an ce w ith t h e s u pplie r's l a te st pr ic e lis t in e ffe ct fo r S elle r fo r sh ip m en ts re ceiv ed b efo re ____________, 2 0_____, (in clu din g fre ig ht) , p ro vid ed th at p rio r to th e e x ecu tio n o f th e P urc h ase A gre em en t, S elle r a n d B uyer w ill se g re g ate certa in ite m s th at in th eir opin io n sh ould be valu ed se p ara te ly fo r th e purp ose of co m puti n g t h e v alu e o f t h e I n ven to ry . 5. Allo catio n o f P urc h ase P ric e. T he P urc h ase P ric e, a s a d ju ste d , w ill b e a llo cate d to th e I n ven to ry a n d t o o th er a sse ts a s f o llo w s: a . In ven to ry : $ ____________, a s a d ju ste d p urs u an t t o s e ctio n 4 .b. Furn itu re , fix tu re s, eq uip m en t, to ols , su pplie s, mach in ery , le ase h old im pro vem en ts , a n d o th er f ix ed a sse ts : $ ____________.c. Sale C ata lo g: $ ____________. 6. Clo sin g an d Pay m en t. The clo sin g w ill occu r on ____________, 20_____ (" C lo sin g D ate "). T he P urc h ase P ric e a s a d ju ste d , w ill b e p aid a s f o llo w s: a . Up t o $ ____________ of t h e P urc h ase P ric e, a s a d ju ste d , w ill b e p aid o n t h e Clo sin g D ate .b . The b ala n ce o f th e P urc h ase P ric e, a s a d ju ste d , w ill b e p aid , w ith in te re st ac cru in g o n t h e u npaid b ala n ce a t t h e r a te o f _____% p er a n num , o ver a p erio d o f _____ years f ro m the C lo sin g D ate . 7 . Pro perty T o B e L ease d . L esso r w ill le ase to B uyer th e b uild in g in w hic h S elle r c u rre n tly o pera te s its b usin ess a t a m onth ly re n ta l o f $ _____ per m onth fo r te rm o f _____ years , un der a w ritte n le ase s a tis fa c to ry to le sso r a n d B uyer, w hic h w ill b e e x ecu te d a n d d eliv ere d o n th e Clo sin g D ate . 8 . Bulk S ale s L aw . A ssu m in g S elle r h as n o c o ntin gen t l ia b ilitie s, B uyer w ill w aiv e t h e re q uir e m en ts o f th e U nif o rm C om merc ia l C ode - B ulk T ra n sfe rs A ct w ith r e sp ect to n otif ic atio n o f Se lle r's c re d ito rs , a n d S elle r w ill h old B uyer h arm le ss fro m a n y lia b ility o f S elle r n ot a ssu m ed b y Buyer a n d a n y lia b ility to c re d ito rs o f S elle r a ris in g o ut o f its fa ilu re to c o m ply w ith th e U nif o rm Com merc ia l C ode - B ulk T ra n sfe rs A ct. 9 . Conduct o f B usin ess . U ntil th e C lo sin g D ate , S elle r w ill u se its b est effo rts to co nduct its b u sin ess in a re aso nab le a n d p ru den t m an n er in a cco rd an ce w ith p ast p ra ctic es; w ill en gag e in n o tr a n sa ctio n o ut o f th e o rd in ary c o urs e o f b usin ess; w ill e n te r in to n o a g re em en t o r tr a n sa ctio n ex te n din g b ey o nd _____, 2 0_____; w ill u se its b est effo rts to p re se rv e its ex is tin g bu sin ess o rg an iz atio n a n d r e la tio ns w ith its e m plo yees, c u sto m ers , s u pplie rs , a n d o th ers w ith w hom it h as a b usin ess re la tio nsh ip ; w ill n ot d is p ose o f a n y o f th e a sse ts , e x cep t s u ch a s a re re tir e d a n d rep la ced in th e ord in ary co urs e of busin ess; w ill co nduct its busin ess in co m plia n ce w ith all ap plic ab le l a w s a n d r e g ula ti o ns; w ill n ot m ak e a n y d is tr ib utio n t o s h are h old ers ; a n d w ill n ot p ay a n y bo nuse s o r m ak e a n y s a la ry o r w ag e i n cre ase s. 1 0. A ccess. D urin g r e aso nab le b usin ess h ours , S elle r w ill p erm it B uyer to h av e a ccess to th e p re m is e s in w hic h S ell e r c o nducts its b usin ess, a n d to a ll its b ooks, re co rd s, a n d p ers o nnel. Se lle r w ill f u rn is h t o B uyer s u ch f in an cia l d ata , o pera ti n g d ata , a n d o th er i n fo rm atio n a s B uyer s h all re aso nab ly re q uest, a n d w il l im med ia te ly h an d to B uyer o r its re p re se n ta tiv es fo r re v ie w its s to ck bo ok, m in ute b ook, a n d c o pie s o f a ll re tir e m en t p la n s, e m plo ym en t a g re em en ts , le ase s, c o ntr a cts with s u p plie rs , a n d o th er c o ntr a cto r o r d ocu m en ts t o w hic h i t i s a p arty . 11. Warra n tie s. The Purc h ase A gre em en t w ill co nta in th e w arra n tie s by Selle r, i n clu din g w ith o ut l im ita tio n t h e f o llo w in g: a. Warra n tie s r e la tin g t o t h e o rg an iz atio n a n d g ood s ta n din g o f S elle r.b . Warra n tie s a s to th e a ccu ra cy o f th e fin an cia l s ta te m en ts o f S elle r p ro vid ed to B uyer.c . Warra n tie s ag ain st an y litig atio n o r lia b ilitie s, in clu din g ta x lia b ilitie s fo r pr io r y ears , o th er t h an t h ose i te m s d is c lo se d t o B uyer.d . Warra n tie s th at a ll c o ntr a cts , le ase s, a n d o th er a g re em en ts o f S elle r, if a n y, ha v e b ee n d is c lo se d .e. Warra n tie s t h at S elle r h as g ood t itle t o t h e a sse ts , u nen cu m bere d b y a n y l ie n s ex cep t t h ose d is c lo se d .f. Warra n tie s th at n o b ro kera g e co m mis sio n w ill b e d ue as a re su lt o f th is tra n sa ctio n.g. Warra n tie s th at th e o pera tio n o f a ll th e a sse ts w ill b e in f u ll c o m plia n ce w ith all a p pli c ab le f e d era l, s ta te , a n d l o cal s ta tu te s, o rd in an ces, a n d r e g ula tio ns. 1 2. Coven an t N ot to C om pete . S elle r a n d [ in div id ual] , f o r th em se lv es a n d a n y o f th eir a ffilia te s, w ill a g re e n ot to c o m pete w ith B uyer in [d esc rib e a re a] fo r a p erio d o f ____________ ye ars c o m men cin g o n t h e C lo sin g D ate . A s c o nsid era tio n f o r t h is a g re em en t n ot t o c o m pete , B uyer will p ay [ in div id ual] $ ____________ p er m onth f o r 6 0 m onth s, p ay ab le o n th e ____________ day of e ach m onth c o m men cin g ____________, 2 0_____. 1 3. [ I n div id ual's ] E m plo ym en t. A fte r th e C lo sin g D ate , [ in div id ual] w ill w ork f o r B uyer a t a n an nu al sa la ry o f $ ____________ until eith er [h e] [s h e] o r B uyer d esir e s to te rm in ate su ch em plo ym en t. 1 4. N eg otia tio ns W ith O th ers . U ntil ____________, 2 0_____, S elle r w ill n ot o ffe r th e a sse ts to , e n te rta in o ffe rs fo r th e a sse ts S elle r w ill n ot o ffe r th e a sse ts to , e n te rta in o ffe rs fo r th e asse ts f ro m , n eg otia te f o r t h e s a le o f t h e a sse ts t o , o r m ak e i n fo rm atio n a b out t h e a sse ts a v aila b le t o , an y t h ir d p arty . It i s u nd ers to od t h at t h is l e tte r s e ts f o rth a n a g re e m en t i n p rin cip le o nly , i s n ot b in din g o n t h e pa rtie s h ere to , a n d m ay n ot b e r e lie d u pon a s th e b asis f o r a c o ntr a ct b y e sto ppel; p ro vid ed th at th e pa rtie s in te n d th at s e ctio ns 1 0 a n d 1 4 w ill b e e n fo rc ea b le u ntil ____________, 2 0_____, W ith th e ex cep tio ns o f se ctio ns 1 0 a n d 1 4, it is u nders to od th at n o p arty sh all b e b ound u ntil a P urc h ase Ag re em en t h as b een d uly e x ecu te d a n d d eliv ere d . [B uyer] B Y :_ __________________________ A gre ed t o i n p rin cip le :[S elle r]B y: _ __________________ ______________ [title ]