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Intercompany Asset Transfer Agreement
"I need an Intercompany Asset Transfer Agreement under Nigerian law for transferring manufacturing equipment and associated IP rights from our Lagos-based subsidiary to our newly established Abuja manufacturing entity, with completion planned for March 2025."
1. Parties: Identification of the transferor and transferee companies, including registration numbers and registered addresses
2. Background: Context of the transfer, relationship between the companies, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Transfer of Assets: Details of assets being transferred and the nature of rights being transferred
5. Consideration: Purchase price or other consideration for the transfer, including payment terms and methods
6. Completion: Details of when and how the transfer will be completed, including delivery requirements
7. Representations and Warranties: Standard warranties about ownership, condition of assets, and authority to transfer
8. Tax Matters: Treatment of tax liabilities and responsibilities related to the transfer
9. Confidentiality: Obligations regarding confidential information shared during the transfer process
10. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
11. General Provisions: Standard boilerplate clauses including notices, amendments, and entire agreement
1. Employee Matters: Required if the transfer involves employees or affects employment relationships
2. Regulatory Compliance: Needed if specific regulatory approvals are required for the transfer
3. Intellectual Property Rights: Include if IP assets are part of the transfer
4. Environmental Matters: Required if assets include property with environmental considerations
5. Transition Services: Include if ongoing support is needed post-transfer
6. Security Interests: Required if assets are subject to any encumbrances or security interests
7. Foreign Exchange Provisions: Include if transaction involves foreign currency elements
8. Anti-corruption Compliance: Required for high-value transfers or where specific compliance risks exist
1. Schedule 1: Asset List: Detailed inventory of all assets being transferred
2. Schedule 2: Consideration Details: Breakdown of consideration and payment terms
3. Schedule 3: Completion Requirements: List of documents and actions required for completion
4. Schedule 4: Form of Transfer Documents: Templates for specific transfer documents required
5. Schedule 5: Encumbrances: List of any existing encumbrances on the assets
6. Schedule 6: Required Consents: List of third-party or regulatory consents required
7. Appendix A: Corporate Authorizations: Copies of relevant board resolutions and corporate approvals
8. Appendix B: Valuation Reports: Independent valuation reports for the assets being transferred
Authors
Manufacturing
Oil and Gas
Financial Services
Technology
Real Estate
Telecommunications
Agriculture
Healthcare
Mining
Retail
Logistics
Construction
Legal
Finance
Tax
Compliance
Corporate Development
Treasury
Risk Management
Operations
Company Secretarial
Internal Audit
Chief Executive Officer
Chief Financial Officer
Chief Legal Officer
Corporate Secretary
Finance Director
Tax Director
Legal Counsel
Compliance Officer
Asset Manager
Financial Controller
Treasury Manager
Risk Manager
Corporate Development Director
Operations Director
Company Secretary
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