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1. Parties: Identification of all parties to the cancellation agreement, including their full legal names, addresses, and registration details if companies
2. Background: Details of the original sale agreement, including its date, subject matter, and key terms
3. Definitions: Definitions of key terms used in the cancellation agreement
4. Cancellation: Express statement of mutual agreement to cancel the original sale agreement
5. Effective Date: Specification of when the cancellation takes effect
6. Mutual Release: Release of all parties from their obligations under the original agreement
7. Return of Goods/Property: Terms for returning any delivered goods or transferred property
8. Financial Settlement: Details of any refunds, payments, or financial adjustments
9. Representations and Warranties: Statements confirming parties' authority to enter into cancellation and status of goods/property
10. Governing Law: Confirmation that Nigerian law governs the cancellation agreement
11. Execution: Signature blocks and execution requirements
1. Confidentiality: Terms regarding confidentiality of the cancellation and original agreement, used when sensitive information is involved
2. Third Party Rights: Provisions addressing any third party interests or rights, needed when third parties are affected by the cancellation
3. Costs and Expenses: Allocation of costs related to the cancellation, included when there are significant costs to be addressed
4. Dispute Resolution: Specific dispute resolution procedures, included for high-value or complex cancellations
5. Partial Cancellation: Terms for partial cancellation of specific provisions, used when only part of the original agreement is being cancelled
6. Tax Implications: Addressing tax consequences of the cancellation, needed for high-value transactions or where tax implications are significant
1. Original Sale Agreement: Copy of the original sale agreement being cancelled
2. Financial Statement: Detailed breakdown of any financial settlements, refunds, or adjustments
3. Property/Goods Inventory: List of property or goods to be returned, including condition assessment
4. Payment Schedule: Timeline for any refunds or financial settlements if not immediate
5. Required Notices: Copies of any required notices or correspondence related to the cancellation
Original Sale Agreement
Cancellation Date
Effective Date
Parties
Seller
Buyer
Property
Goods
Purchase Price
Refund Amount
Settlement Sum
Return Period
Business Day
Completion
Confidential Information
Encumbrances
Force Majeure Event
Intellectual Property Rights
Losses
Material Adverse Change
Outstanding Obligations
Representatives
Restitution
Settlement Date
Termination Notice
Working Hours
Nigerian Law
Recitals
Definitions
Interpretation
Cancellation
Mutual Release
Return of Property
Refund and Payments
Settlement Terms
Representations and Warranties
Confidentiality
Non-Disclosure
Indemnification
Further Assurance
Costs
Notices
Force Majeure
Severability
Entire Agreement
Amendment
Assignment
Waiver
Third Party Rights
Governing Law
Dispute Resolution
Counterparts
Real Estate
Retail
Manufacturing
Automotive
Agriculture
Construction
Technology
Consumer Goods
Industrial Equipment
Import/Export
Mining
Oil and Gas
Telecommunications
Legal
Sales
Procurement
Finance
Compliance
Operations
Risk Management
Commercial
Business Development
Administration
Corporate Secretariat
Legal Counsel
Contract Manager
Sales Director
Procurement Manager
Business Development Manager
Company Secretary
Commercial Director
Risk Manager
Compliance Officer
Operations Manager
Chief Financial Officer
Managing Director
Property Manager
Account Executive
Sales Administrator
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