Idaho Sample Purchase and Sale Agreement Purchase and Sale of stock between GEC Acquisition Corp., Exigent International, Inc., GEC North America Corp.

• Category: Corporations - Public - Purchase
• State: Multi-State
• Control #: US-EG-9221
• Format: Word; Rich Text

Description

Agreement for Purchase and Sale of stock between GEC Acquisition Corporation, Exigent International, Inc., GEC North America Corporation, Roger A. Gilmartin, Jacqueline R. Gilmartin, Deborah M. Bowen and Mark W. Brydges regarding the acquisition

Title: Idaho Sample Purchase and Sale Agreement for Stock Acquisition Introduction: The Idaho Sample Purchase and Sale Agreement outlined below is a legally binding document that governs the purchase and sale of stock between GET Acquisition Corp., Exigent International, Inc., and GET North America Corp. In this article, we will provide a detailed description of the agreement, discussing its key components, conditions, and terms, as well as highlighting any potential variations or additional types of agreements within the Idaho jurisdiction. Section 1: Parties Involved The agreement involves three entities: 1. GET Acquisition Corp. (Purchaser): Entity interested in acquiring the stock. 2. Exigent International, Inc. (Seller): Entity holding the stock and willing to sell. 3. GET North America Corp.: An additional party involved in the agreement, possibly acting as a mediator, consultant, or holder of a minority interest. Section 2: Stock Purchase and Sale Terms This section of the agreement outlines the specific terms and conditions related to the purchase and sale of the stock. It details the shares to be acquired, the purchase price, and any relevant payment terms, such as installment payments or one-time payments. It may also mention any escrow arrangements or conditions precedent to be fulfilled before the sale is completed. Section 3: Representations and Warranties The representations and warranties section involves statements made by both the Seller and Purchaser, ensuring that all information provided is accurate and complete. This section protects the parties from any hidden liabilities or misrepresentations and establishes the basis on which the sale is being transacted. Section 4: Closing Conditions This section encompasses the conditions that must be fulfilled before the sale can be officially closed. Examples may include obtaining necessary regulatory approvals, third-party consents, or successfully completing due diligence. The agreement states that failure to meet these conditions allows either party to terminate the agreement. Section 5: Governing Law and Jurisdiction To ensure the agreement's enforceability, it stipulates the governing law and jurisdiction for any disputes arising from the agreement. As this document pertains to Idaho, it will be governed by Idaho state law, and any disputes will be resolved in the Idaho state courts. Additional Types of Idaho Sample Purchase and Sale Agreements: 1. Asset Purchase Agreement: This agreement differs from a stock purchase agreement as it involves the sale and purchase of specific assets or a distinct business division, rather than stock ownership. 2. Share Purchase Agreement: While similar to a stock purchase agreement, this document focuses on the purchase and sale of shares in a specific company, rather than dealing with stocks of multiple entities involved in a corporate hierarchy. Conclusion: The Idaho Sample Purchase and Sale Agreement for the purchase and sale of stock between GET Acquisition Corp., Exigent International, Inc., and GET North America Corp. plays a crucial role in facilitating transparent, fair, and legally compliant transactions. It ensures that parties involved are protected and can confidently proceed with the stock acquisition while adhering to Idaho's legal requirements.