Asset Purchase Term Sheet for Ireland

Asset Purchase Term Sheet Template for Ireland

A preliminary agreement document governed by Irish law that outlines the principal terms and conditions for a proposed purchase of assets between parties. This document serves as a framework for negotiations and subsequent detailed documentation, covering key aspects such as asset identification, purchase price, payment terms, conditions precedent, and timeline. While generally non-binding except for specific provisions like confidentiality and exclusivity, it provides a clear roadmap for the transaction and demonstrates the parties' serious intent to proceed with the deal subject to final documentation and due diligence.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Asset Purchase Term Sheet

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Asset Purchase Term Sheet?

The Asset Purchase Term Sheet is a crucial preliminary document used in Irish business transactions when parties are contemplating the purchase and sale of business assets. It is typically prepared after initial discussions but before detailed due diligence and final documentation, serving as a roadmap for the transaction and subsequent definitive agreements. The document captures the essential commercial and legal terms agreed in principle, including asset identification, pricing, payment structure, and key conditions. While primarily non-binding, certain provisions such as confidentiality and exclusivity are typically binding. This document is particularly important in Irish transactions as it helps align parties' expectations early in the process and can be used to obtain preliminary board approvals or financing commitments.

What sections should be included in a Asset Purchase Term Sheet?

1. Parties: Identification of buyer, seller, and any guarantors or key stakeholders

2. Background: Brief context of the transaction and relationship between the parties

3. Definitions: Key terms used throughout the term sheet

4. Transaction Overview: High-level description of the proposed asset purchase

5. Assets to be Acquired: General description of assets included in the purchase

6. Purchase Price: Proposed consideration and payment structure

7. Payment Terms: Timing and method of payment, including any installments or earnouts

8. Key Conditions Precedent: Essential conditions that must be met before closing

9. Timeline: Proposed schedule for due diligence, documentation, and closing

10. Exclusivity: Terms of any exclusive negotiating period

11. Confidentiality: Basic confidentiality obligations regarding the transaction

12. Costs: Allocation of transaction costs between parties

13. Binding Nature: Clarity on which provisions are binding vs. non-binding

14. Governing Law: Specification of Irish law as governing law

What sections are optional to include in a Asset Purchase Term Sheet?

1. Employee Matters: Terms regarding transfer of employees - include when workforce is part of assets

2. Intellectual Property: Special provisions for IP transfers - include when IP assets are significant

3. Real Estate: Specific terms for property transfers - include when real estate is involved

4. Regulatory Approvals: Required regulatory clearances - include for regulated industries or large transactions

5. Environmental Matters: Environmental considerations - include when acquiring industrial or potentially contaminated assets

6. Tax Structure: Proposed tax treatment - include for complex tax implications

7. Transition Services: Post-closing support services - include when operational continuity is crucial

8. Break Fee: Terms of any break fee - include in high-value transactions

9. Financing Conditions: Details of financing arrangements - include when purchase is subject to financing

10. Competition Clearance: Competition law considerations - include for large market-impacting transactions

What schedules should be included in a Asset Purchase Term Sheet?

1. Schedule 1 - Asset List: Preliminary list of major assets to be included in the transaction

2. Schedule 2 - Excluded Assets: Clear identification of assets explicitly excluded from the transaction

3. Schedule 3 - Purchase Price Calculation: Framework for determining final purchase price, including adjustments

4. Schedule 4 - Key Contracts: List of material contracts associated with the assets

5. Schedule 5 - Timeline: Detailed transaction timeline with key milestones and deadlines

6. Appendix A - Form of Confidentiality Agreement: Draft or agreed form of separate confidentiality agreement if required

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Genie AI

Document Type

Purchase Agreement

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Manufacturing

Real Estate

Technology

Retail

Healthcare

Industrial

Energy

Transportation

Agriculture

Construction

Professional Services

Hospitality

Financial Services

Telecommunications

Media and Entertainment

Relevant Teams

Legal

Finance

Corporate Development

Mergers & Acquisitions

Operations

Risk Management

Compliance

Tax

Strategy

Business Development

Due Diligence

Executive Leadership

Treasury

Corporate Secretariat

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Legal Officer

Managing Director

Finance Director

Corporate Development Director

Business Development Manager

Legal Counsel

Commercial Director

Operations Director

Investment Manager

Transaction Manager

Due Diligence Manager

Corporate Lawyer

Company Secretary

Risk Manager

Asset Manager

Portfolio Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Contract For Buying A Business

An Irish law-governed agreement detailing the terms and conditions for the purchase and sale of a business, including all essential transaction elements and regulatory compliance requirements.

find out more

Buyers Contract

An Irish law-governed agreement outlining terms and conditions for purchasing goods or services, incorporating buyer protections and commercial requirements.

find out more

Buy With Reservation Agreement

An Irish law agreement establishing terms for reserving a property during pre-purchase investigations and financing arrangements.

find out more

Basic Purchase Agreement

An Irish law-governed agreement that establishes the basic terms and conditions for the sale and purchase of goods between two parties.

find out more

Forward Purchase Agreement (Real Estate)

An Irish law agreement for the future purchase of real estate, typically involving property under construction or development, with pre-agreed terms and conditions.

find out more

Customer List Purchase Agreement

An Irish law-governed agreement for the sale and transfer of customer lists between businesses, ensuring GDPR compliance and data protection.

find out more

Car Buying Contract

An Irish law-governed agreement for the sale and purchase of motor vehicles, incorporating essential terms and regulatory requirements for vehicle transactions in Ireland.

find out more

Sell Agreement

An Irish law-governed agreement documenting the sale and transfer of goods, assets, or property between parties, outlining key terms and conditions of the transaction.

find out more

Vehicle Hire Purchase Agreement

An Irish law-governed agreement for the purchase of a vehicle through installment payments, where ownership transfers to the hirer upon completion of all payments.

find out more

Personal Property Addendum

An Irish law-compliant addendum detailing terms and conditions for personal property items within a primary agreement, including ownership, use, and maintenance requirements.

find out more

Contingent Purchase Agreement

An Irish law-governed agreement setting out terms for a purchase transaction subject to specific conditions being met, including purchase terms, conditions precedent, and completion mechanisms.

find out more

Conditional Purchase Agreement

An Irish law agreement governing the sale of assets where ownership transfer is conditional upon specific requirements, typically full payment completion.

find out more

Land Sales Agreement

An Irish law-governed agreement for the sale and purchase of land, setting out the terms, conditions, and obligations for property transfer between parties.

find out more

Dealer Purchase Agreement

An Irish law-governed agreement between a manufacturer/supplier and dealer establishing terms for product purchase and resale, including territorial rights and operational requirements.

find out more

Buying Agency Agreement

An Irish law agreement appointing an agent to source and purchase goods on behalf of a principal, setting out the terms of their commercial relationship.

find out more

Buy Tenancy Agreement

An Irish law-governed agreement combining property rental terms with a future purchase option, establishing rights and obligations for both landlord/seller and tenant/buyer.

find out more

Final Purchase Agreement

An Irish law-governed agreement that finalizes the terms and conditions of a sale transaction between parties, including all essential elements of the purchase.

find out more

Land Purchase Agreement Form

An Irish law-governed agreement for the legal transfer of land ownership between a vendor and purchaser, detailing all aspects of the property transaction.

find out more

Joint Purchase Agreement For Vehicle

An Irish law-governed agreement establishing terms for joint vehicle purchase and ownership between multiple parties, defining rights, responsibilities, and ownership shares.

find out more

Timeshare Purchase Agreement

An Irish law-governed agreement for the purchase of a timeshare interest, complying with EU consumer protection regulations and establishing rights and obligations of all parties.

find out more

Private Party Car Sale Contract

An Irish law-governed contract for the private sale of a motor vehicle between individuals, documenting vehicle details, price, and transfer terms.

find out more

Co Purchase Agreement

An Irish law agreement establishing terms and conditions for joint property purchase and ownership between multiple parties in Ireland.

find out more

Commercial Offer To Purchase

An Irish law-governed document presenting a formal offer to purchase commercial property, including key terms and conditions of the proposed transaction.

find out more

Letter Of Intent To Purchase Property

An Irish law-governed preliminary document expressing a potential buyer's intention to purchase property and outlining key proposed terms of the transaction.

find out more

Option Purchase Agreement Film

An Irish law-governed agreement granting exclusive rights to purchase film rights to a creative work within a specified period.

find out more

Forward Purchase Contract

An Irish law-governed agreement for the future purchase of specified goods or assets, detailing price, delivery terms, and payment conditions.

find out more

Simple Offer To Purchase Real Estate Form

An Irish legal document presenting a formal offer to purchase real estate, outlining key terms and conditions in compliance with Irish property law.

find out more

Employee Laptop Purchase Agreement

An Irish law-governed agreement enabling employees to purchase laptop computers from their employer with defined payment terms and conditions.

find out more

Trailer Purchase Agreement

An Irish law-governed agreement for the sale and purchase of a trailer, including terms of sale, warranties, and ownership transfer provisions.

find out more

Buyer Contract Agreement

An Irish law-governed agreement setting out terms and conditions for the purchase of goods or services, including payment, delivery, and quality requirements.

find out more

Commercial Lease With Option To Purchase

An Irish law-governed agreement combining a commercial property lease with a future purchase option, setting out terms for both leasing and potential acquisition.

find out more

Rental Purchase Agreement

An Irish law-governed agreement establishing terms for rental purchase arrangements, combining rental terms with a path to ownership through scheduled payments.

find out more

Price Purchase Agreement

An Irish law-governed agreement detailing purchase terms, price, and conditions between buyer and seller.

find out more

Prepaid Forward Purchase Agreement

An Irish law-governed agreement establishing terms for a prepaid forward purchase transaction, including payment mechanisms, delivery obligations, and regulatory compliance requirements.

find out more

Legal Real Estate Contract

An Irish law-governed contract for the sale and purchase of real estate property, establishing terms, conditions, and legal obligations for all parties involved.

find out more

Goods Purchase Agreement

An Irish law-governed agreement setting out terms and conditions for the commercial sale and purchase of goods.

find out more

Pre Purchase Agreement

An Irish law agreement setting out terms and conditions for a future property purchase, including price, deposit, and completion requirements.

find out more

Property Sales Contract Between Seller And Buyer

An Irish law-governed contract for the sale and purchase of property, establishing terms, conditions, and obligations between seller and buyer.

find out more

Vehicle Purchase Agreement

An Irish law-governed agreement documenting the sale and purchase of a vehicle, including essential terms, conditions, and ownership transfer requirements.

find out more

Medical Equipment Purchase Agreement

An Irish law-governed agreement for medical equipment purchase, compliant with EU MDR and Irish healthcare regulations.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now