The vendor retains effective possession and control of the Business and the Assets until such time as the whole of the purchase price is paid.
About the Secured Loan PPSR Agreement – Will the Lender hold security for the loan over something of value?
In order to comply with the Personal Property Securities Act 2009, the lender and borrower must clearly document the property offered as security.
This agreement contains all the provisions required to create a loan so the lender can register their interest on the personal property security register (PPSR).
Along with a detailed users guide this secured loan agreement will give the lender the confidence that their interests are protected and borrower a clear understanding of their responsibilities.
Sale of Business Contract template includes the following provisions
- Definitions And Interpretation
- Sale And Purchase
- Vendor’s Debts
- Payment Of Deposit
- Balance Of Purchase Price
- Stock Valuation
- Goods And Services Tax
- Running Of The Business Before Completion
- Action After Completion
- Restraints Of Trade
- Debts And Liabilities
- Disclosure Of Facts Rendering Warranty Incorrect
- Guarantee For Vendor’s Obligations
- Guarantee For Purchaser’s Obligations
- Costs And Stamp Duty
- Dispute Resolution
- Default By Vendor
- Default By Purchaser
- General Provisions
- Governing Law
- Contracts And Leases
Secured Loan Contract with PPSR includes the following provisions
- Type and Place of Payments
- Security Interest
- Enforcing the Charge
- Lender’s Rights And Remedies
- Benefit Of Agreement
- Entire Agreement
- Governing Law
- Execution In Counterparts.
Document Sample of Sale of Business on Vendor Terms Contract template
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Sample of Secured Loan Agreement Template
The Kit Includes
- Sale of Business Agreement Template
- Secured Loan with Personal Property Security Register Agreement Template
- Victoria Only – Section 52 Vendor Statement
- Users Guide
- Bonus – Contract Preparation Hints and Tips (PDF)
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