This Sales With Buyback Agreement is designed for transactions under Philippine law where parties seek to implement a temporary transfer of asset ownership with a guaranteed repurchase option. The document is commonly used in situations requiring short-term liquidity solutions, asset optimization, or strategic resource management. It combines elements of both sale and financing arrangements, structured to comply with Philippine Civil Code provisions on pacto de retro sales. The agreement is particularly valuable for businesses seeking alternative financing methods or temporary asset disposal solutions while maintaining the right to reclaim the asset. It includes comprehensive provisions for the initial sale, detailed buyback terms, asset maintenance requirements, risk allocation, and regulatory compliance, making it suitable for various commercial and industrial applications within the Philippine jurisdiction.
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1. Parties: Identification of the Seller (who will have buyback rights) and Buyer, including complete legal names and addresses
2. Background: Context of the transaction, relationship between parties, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement, including 'Asset', 'Buyback Period', 'Buyback Price', and 'Completion Date'
4. Sale of Asset: Details of the initial sale, including asset description, purchase price, and completion mechanics
5. Buyback Rights: Terms of the buyback option, including period, price, and mechanism for exercising the right
6. Completion Requirements: Conditions precedent, completion obligations, and delivery requirements for both initial sale and buyback
7. Asset Maintenance: Obligations regarding maintenance and preservation of the asset during the buyback period
8. Representations and Warranties: Standard and specific warranties regarding the asset, authority to sell, and buyback rights
9. Risk and Insurance: Allocation of risk and insurance requirements during the buyback period
10. Taxes and Expenses: Responsibility for taxes, registration fees, and other transaction costs
11. Default and Remedies: Events of default and corresponding remedies, including loss of buyback rights
12. General Provisions: Standard boilerplate clauses including notices, amendments, governing law, and dispute resolution
1. Security Arrangements: Required if there are any mortgages or security interests affecting the asset during the buyback period
2. Third Party Rights: Needed if the asset might be subject to third party rights or restrictions during the buyback period
3. Asset Operation: Required for complex assets that need specific operational guidelines during the buyback period
4. Income and Profits: Necessary when dealing with income-generating assets, specifying rights to income during the buyback period
5. Regulatory Compliance: Required when the asset or transaction is subject to specific regulatory requirements
6. Environmental Matters: Needed for assets with environmental implications or responsibilities
1. Asset Description: Detailed description of the asset including all relevant specifications, conditions, and documentation
2. Initial Purchase Price Calculation: Breakdown of the purchase price and payment terms for the initial sale
3. Buyback Price Calculation: Formula or fixed amount for the buyback price, including any adjustments or additional costs
4. Completion Requirements: Checklist of documents and actions required for both initial sale and buyback completion
5. Form of Buyback Notice: Template notice for exercising the buyback right
6. Condition Report: Initial condition report of the asset to serve as baseline for maintenance obligations
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Manufacturing
Financial Services
Agriculture
Mining
Construction
Retail
Automotive
Industrial Equipment
Commodities Trading
Relevant Teams
Legal
Finance
Treasury
Operations
Risk Management
Compliance
Commercial
Asset Management
Business Development
Property Management
Relevant Roles
Chief Financial Officer
Commercial Director
Asset Manager
Legal Counsel
Finance Manager
Operations Director
Risk Manager
Treasury Manager
Business Development Manager
Compliance Officer
Contract Administrator
Property Manager
Procurement Manager
Corporate Secretary
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