Mississippi Sample Stock Purchase Agreement between Reassure America Life Insurance Co. and Penncorp Financial Group, Inc. regarding issued and outstanding shares common stock

• Category: Corporations - Public - Stock Purchase Sample
• State: Multi-State
• Control #: US-EG-9222
• Format: Word; Rich Text

Description

Stock Purchase Agreement between Reassur America Life Insurance Company and Penncorp Financial Group, Inc. regarding issued and outstanding shares of common stock dated January 7, 2000. 64 pages.

Title: Mississippi Sample Stock Purchase Agreement: Reassure America Life Insurance Co. and Penn corp Financial Group, Inc. Introduction: This detailed description highlights a Mississippi Sample Stock Purchase Agreement between Reassure America Life Insurance Co. (Seller) and Penn corp Financial Group, Inc. (Buyer) pertaining to the purchase of issued and outstanding shares of common stock. The agreement aims to formalize the transaction, protecting the interests and rights of both parties. Keywords: Mississippi, Stock Purchase Agreement, Reassure America Life Insurance Co., Penn corp Financial Group, issued shares, outstanding shares, common stock. 1. Stock Purchase Agreement Overview: This section briefly introduces the key entities involved — Reassure America Life Insurance Co. and Penn corp Financial Group, Inc. — along with their intentions to execute a stock purchase agreement. 1.1. Mississippi Sample Stock Purchase Agreement for Common Stock: This specific agreement refers to the purchase of common stock issued by Reassure America Life Insurance Co., providing an outline for the legal and financial proceedings. 2. Parties to the Agreement: This section outlines the parties involved and their respective roles in the transaction, emphasizing their legal obligations, rights, and responsibilities. 3. Purchase Price: The agreement specifies the purchase price at which the buyer, Penn corp Financial Group, Inc., will acquire the issued and outstanding common stock shares from Reassure America Life Insurance Co. 4. Transfer of Shares: This section details the mechanics of the stock transfer process, outlining the necessary steps, legal requirements, and timelines for the transfer of ownership from the seller to the buyer. 5. Representations and Warranties: Both parties provide representations and warranties to ensure the accuracy and completeness of the transaction, covering aspects such as the validity of the shares, absence of legal disputes, financial statements, and compliance with applicable laws and regulations. 6. Conditions Precedent and Closing: This section specifies the conditions that must be met before the completion of the stock purchase agreement, including obtaining necessary regulatory approvals, the accuracy of representations and warranties, and the fulfillment of any additional prerequisites. 7. Indemnification: The agreement outlines the indemnification provisions, stating the procedures for compensating the buyer, Penn corp Financial Group, Inc., in the event of any breach of representations, warranties, or obligations by the seller, Reassure America Life Insurance Co. 8. Confidentiality and Non-Disclosure: To safeguard the sensitive information exchanged during negotiations and the transaction, the agreement establishes mechanisms to ensure confidentiality and non-disclosure, securing the parties' proprietary information. 9. Governing Law and Dispute Resolution: This section determines the governing law applicable to the agreement and outlines the dispute resolution mechanism if any conflicts arise between the parties. 10. Additional Agreements: This part caters to any additional agreements or clauses that may be relevant to the stock purchase agreement, such as non-compete clauses and post-closing covenants. Conclusion: The Mississippi Sample Stock Purchase Agreement serves as a legally binding document defining the terms, conditions, and obligations governing the purchase of Reassure America Life Insurance Co.'s issued and outstanding common stock by Penn corp Financial Group, Inc. Adhering to this agreement ensures a smooth and legally compliant transaction for both parties involved.