The Asset Purchase Agreement is a comprehensive document used in Tarrant for the sale of business assets between a Seller and a Buyer. It outlines key components such as the assets being sold, the purchase price, and the conditions under which the sale will occur. Key features include sections detailing assets purchased, assumptions of liabilities, and payment structures. Additionally, it addresses obligations pre- and post-closing, alongside warranties from both the Seller and Buyer regarding the assets and their operation. Instructions for filling out the form focus on ensuring clarity in defining the assets and the terms of the agreement. Supporting parties such as attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form effectively in business transactions to ensure compliance with legal standards and facilitate a smooth transition of ownership. Specific use cases may include mergers, acquisitions, or sales involving substantial business assets, where precise legal documentation is crucial.