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1. Parties: Identification of the seller and purchaser, including their legal business names and addresses
2. Background: Context of the transaction, including brief description of the restaurant business and purpose of the agreement
3. Definitions: Key terms used throughout the agreement, including specific restaurant industry terminology
4. Purchase and Sale of Assets: Detailed description of assets being purchased, including equipment, inventory, fixtures, and intellectual property
5. Purchase Price and Payment Terms: Total consideration, payment structure, and adjustments for inventory
6. Closing: Closing date, conditions, and deliverables
7. Representations and Warranties of Seller: Seller's assertions regarding the business, including permits, licenses, compliance with health regulations
8. Representations and Warranties of Purchaser: Purchaser's assertions regarding authority and ability to complete the transaction
9. Covenants: Pre-closing and post-closing obligations of both parties
10. Employee Matters: Treatment of existing employees and related liabilities
11. Permits and Licenses: Transfer or reapplication of necessary permits and licenses
12. Indemnification: Mutual protection against losses and liabilities
13. Termination: Circumstances under which the agreement can be terminated
14. General Provisions: Standard clauses including governing law, notices, and amendments
1. Non-Competition: Restrictions on seller's future restaurant operations - include when seller could potentially compete
2. Transition Services: Seller's assistance in transitioning the business - include when complex operations require extended handover
3. Bulk Sales Compliance: Specific provisions for jurisdictions with active bulk sales legislation
4. Third Party Consents: Process for obtaining required third-party approvals - include when key contracts require consent for assignment
5. Environmental Matters: Environmental representations and obligations - include when property is included or environmental concerns exist
6. Franchise Matters: Provisions related to franchise agreements - include if restaurant is franchised
7. Real Property Lease Assignment: Terms for assigning the lease - include when leased premises are involved
1. Schedule A - Purchased Assets: Detailed inventory of all assets being purchased, including equipment, furnishings, and smallwares
2. Schedule B - Excluded Assets: List of assets specifically excluded from the sale
3. Schedule C - Purchase Price Allocation: Breakdown of purchase price across asset categories for tax purposes
4. Schedule D - Permits and Licenses: List of all required permits and licenses for operation
5. Schedule E - Assumed Contracts: List of contracts being assumed by the purchaser
6. Schedule F - Intellectual Property: Details of trademarks, trade names, recipes, and other IP being transferred
7. Schedule G - Employee Information: List of employees and their key employment terms
8. Schedule H - Form of Bill of Sale: Form document for transferring title to personal property
9. Schedule I - Inventory: Detailed list of food, beverage, and supply inventory
10. Schedule J - Supplier Agreements: List of key supplier relationships and contracts
Purchase Price
Payment Terms
Inventory Valuation
Equipment Transfer
Intellectual Property Rights
License Transfer
Regulatory Compliance
Health and Safety
Food Safety
Liquor Licensing
Employee Matters
Transition Services
Due Diligence
Representations and Warranties
Covenants
Conditions Precedent
Closing Conditions
Post-Closing Adjustments
Lease Assignment
Third Party Consents
Non-Competition
Non-Solicitation
Confidentiality
Customer Data Protection
Supplier Contracts
Environmental Compliance
Insurance
Indemnification
Risk Allocation
Tax Matters
Dispute Resolution
Force Majeure
Assignment
Termination Rights
Notice Requirements
Governing Law
Jurisdiction
Amendment
Entire Agreement
Severability
Food & Beverage
Hospitality
Restaurant Industry
Food Service
Commercial Real Estate
Business Services
Legal Services
Retail
Franchise Operations
Hospitality Equipment
Legal
Finance
Operations
Mergers & Acquisitions
Business Development
Compliance
Real Estate
Risk Management
Food Safety & Quality Assurance
Strategic Planning
Restaurant Owner
Business Development Manager
Chief Executive Officer
Chief Financial Officer
Corporate Lawyer
Restaurant Manager
Operations Director
Franchise Development Manager
Mergers & Acquisitions Manager
Business Broker
Commercial Real Estate Agent
Restaurant Consultant
Legal Counsel
Compliance Officer
Financial Controller
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