Contingent Purchase Agreement Template for India

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Key Requirements PROMPT example:

Contingent Purchase Agreement

"I need a Contingent Purchase Agreement for the acquisition of a manufacturing facility in Gujarat, India, where the purchase is contingent upon obtaining environmental clearances and successful completion of soil testing by March 2025."

Document background

The Contingent Purchase Agreement is a sophisticated commercial contract used when parties wish to enter into a purchase arrangement subject to specific conditions being fulfilled. This document type is particularly relevant in the Indian business context where regulatory approvals, third-party consents, or specific commercial conditions must be satisfied before a transaction can proceed. It provides a structured framework for complex acquisitions while ensuring compliance with Indian contract law, including the Indian Contract Act, 1872, and other relevant statutes. The agreement typically includes detailed provisions for condition satisfaction, timelines, consequences of non-fulfillment, and completion mechanics, making it suitable for high-value transactions where parties need certainty about their obligations and rights during the contingency period.

Suggested Sections

1. Parties: Identification and details of the buyer and seller

2. Background: Context of the transaction and relationship between parties

3. Definitions: Definitions of key terms used throughout the agreement

4. Subject Matter of Purchase: Detailed description of the assets or goods being purchased

5. Contingent Conditions: Specific conditions that must be met for the purchase to proceed

6. Purchase Price and Payment Terms: Price, payment structure, and timing of payments

7. Timing and Performance: Timeframes for meeting conditions and completing the purchase

8. Representations and Warranties: Statements of fact and assurances by both parties

9. Covenants: Ongoing obligations of the parties during the contingency period

10. Termination: Circumstances under which the agreement can be terminated

11. Consequences of Non-Fulfillment: Effects and remedies if contingent conditions are not met

12. Notices: Process and requirements for formal communications between parties

13. Governing Law and Jurisdiction: Applicable law and courts for dispute resolution

14. General Provisions: Standard boilerplate clauses including assignment, amendment, and severability

Optional Sections

1. Regulatory Compliance: Include when the purchase requires specific regulatory approvals or compliance

2. Third Party Consents: Include when third party approvals are needed for the transaction

3. Financing Arrangements: Include when purchase is contingent on securing specific financing

4. Due Diligence: Include when the purchase is subject to satisfactory due diligence

5. Environmental Conditions: Include when environmental assessments or compliance is relevant

6. Employee Matters: Include when the purchase involves transfer of employees

7. Intellectual Property: Include when IP rights are involved in the purchase

8. Tax Provisions: Include when specific tax arrangements or implications need to be addressed

9. Confidentiality: Include when specific confidentiality obligations need to be detailed

10. Force Majeure: Include when specific force majeure provisions are needed beyond standard provisions

Suggested Schedules

1. Schedule 1 - Asset Description: Detailed description and specifications of the assets being purchased

2. Schedule 2 - Purchase Price Calculation: Detailed methodology for calculating the final purchase price

3. Schedule 3 - Contingency Conditions Details: Detailed description of each contingent condition and its requirements

4. Schedule 4 - Completion Requirements: List of documents and actions required at completion

5. Schedule 5 - Form of Notices: Template forms for various notices under the agreement

6. Appendix A - Required Approvals: List of required regulatory and third-party approvals

7. Appendix B - Due Diligence Requirements: Scope and requirements of any due diligence investigation

8. Appendix C - Timeline: Detailed timeline for satisfying conditions and completion steps

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Manufacturing

Real Estate

Technology

Energy

Infrastructure

Mining

Pharmaceuticals

Automotive

Agriculture

Retail

Telecommunications

Financial Services

Relevant Teams

Legal

Finance

Mergers & Acquisitions

Corporate Development

Risk Management

Compliance

Business Development

Project Management

Commercial Operations

Strategy

Relevant Roles

Chief Executive Officer

Chief Financial Officer

General Counsel

Legal Director

Commercial Director

Head of Mergers & Acquisitions

Corporate Development Manager

Risk Manager

Business Development Director

Investment Manager

Compliance Officer

Project Manager

Contract Manager

Due Diligence Manager

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Let's create your Contingent Purchase Agreement

Authors

Alex Denne

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