The Par Agreement of Sale is a specialized commercial contract used in German business transactions where assets are transferred at their nominal or face value. This type of agreement is particularly common in financial instrument transfers, corporate restructurings, and certain types of asset sales where par value consideration is appropriate. The document must comply with German legal requirements, particularly the Civil Code (BGB) and Commercial Code (HGB), and typically includes detailed provisions on purchase price calculation, transfer mechanics, and warranties. When drafting a Par Agreement of Sale, special attention must be paid to German-specific legal concepts, including form requirements, transfer of title rules, and warranty provisions. The agreement is frequently used in banking, financial services, and corporate transactions where precise value determination and transfer mechanisms are crucial.
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1. Parties: Identification and details of the seller and purchaser, including full legal names, registration details, and addresses
2. Background: Context of the transaction and brief description of the asset being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core provision establishing the seller's obligation to transfer ownership and the buyer's obligation to pay the purchase price (§ 433 BGB)
5. Purchase Price: Detailed terms of the purchase price, including amount, currency, and payment mechanism
6. Closing: Conditions and process for completing the transfer of ownership and payment
7. Seller's Warranties: Warranties regarding the seller's capacity and authority, and the condition of the sale object
8. Tax Matters: Allocation of tax obligations and responsibilities
9. Notices: Process and requirements for formal communications between parties
10. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction for disputes
11. Execution: Signature blocks and execution formalities
1. Condition Precedents: Include when closing is subject to specific conditions being met
2. Financing Provisions: Include when purchase price is financed through third party or specific financing arrangements
3. Due Diligence: Include when buyer has conducted or will conduct due diligence investigations
4. Post-Closing Obligations: Include when parties have ongoing obligations after closing
5. Non-Competition: Include when seller agrees to restrictions on competing activities
6. Broker Provisions: Include when brokers or intermediaries are involved in the transaction
7. Force Majeure: Include when parties want specific provisions for unforeseen circumstances
8. Data Protection: Include when personal data processing is involved in the transaction
1. Asset Description Schedule: Detailed description of the asset(s) being sold
2. Purchase Price Calculation: Detailed breakdown of purchase price components and calculations
3. Closing Checklist: List of documents and actions required for closing
4. Form of Transfer Documents: Templates for any required transfer documentation
5. Warranty Schedule: Detailed warranties relating to the asset(s)
6. Disclosed Matters: List of matters disclosed against the warranties
7. Power of Attorney: If required for completion of the transaction
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Banking
Investment Management
Real Estate
Manufacturing
Professional Services
Technology
Telecommunications
Energy
Infrastructure
Private Equity
Asset Management
Relevant Teams
Legal
Finance
Corporate Development
Treasury
Compliance
Risk Management
Commercial
Business Development
Investment
Asset Management
Operations
Tax
Relevant Roles
Legal Counsel
Corporate Lawyer
Transaction Manager
Finance Director
Chief Financial Officer
Business Development Manager
Investment Manager
Asset Manager
Commercial Director
Compliance Officer
Risk Manager
Corporate Secretary
Managing Director
Portfolio Manager
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