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1. Parties: Identification of the Seller (outgoing partner), Purchaser (incoming partner), and other continuing partners
2. Background: Brief description of the partnership business, current ownership structure, and purpose of the sale
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core terms of the transaction including the partnership interest being sold and purchase price
5. Completion: Details of when and how the transfer will be completed, including conditions precedent
6. Purchase Price and Payment: Detailed payment terms, including method and timing of payment
7. Seller's Warranties: Warranties regarding the partnership interest, business condition, and authority to sell
8. Purchaser's Warranties: Warranties regarding authority to purchase and financial capacity
9. Pre-Completion Obligations: Obligations of parties between signing and completion
10. Partnership Consent: Confirmation of other partners' consent to the transfer
11. Release and Indemnity: Release of seller from future obligations and related indemnities
12. Confidentiality: Obligations regarding confidential information
13. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and jurisdiction for disputes
14. General Provisions: Standard boilerplate clauses including notices, amendments, and severability
1. Third Party Consents: Required when the transfer needs approval from external parties such as banks or regulatory authorities
2. Intellectual Property Rights: Needed when specific IP rights are involved in the partnership transfer
3. Employee Matters: Include when the transfer affects employment relationships or responsibilities
4. Non-Compete Provisions: Optional restrictions on the selling partner's future business activities
5. Transitional Services: Include when the selling partner needs to provide temporary support post-completion
6. Tax Matters: Detailed tax provisions when complex tax implications are involved
7. Accounts and Financial Arrangements: Detailed financial provisions when complex financial arrangements exist
8. Property Rights: Required when real property interests are involved in the partnership
1. Partnership Interest Details: Detailed description of the partnership interest being transferred
2. Partnership Assets: List of key partnership assets included in the sale
3. Purchase Price Calculation: Detailed breakdown of how the purchase price was calculated
4. Completion Requirements: Checklist of documents and actions required for completion
5. Existing Partnership Agreement: Copy of the current partnership agreement
6. Outstanding Liabilities: List of partnership liabilities and their allocation
7. Required Consents: List of third-party consents required for the transfer
8. Ongoing Contracts: List of important contracts affecting the partnership
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