Share consideration provisions—share purchase agreement—private limited company
Published by a LexisNexis Corporate expert
PrecedentsShare consideration provisions—share purchase agreement—private limited company
Published by a LexisNexis Corporate expert
PrecedentsInsert the following definitions as new definitions into clause 1 of Precedent: Share purchase agreement—pro-buyer—corporate seller—conditional—long form:
1. Definitions and interpretation
Consideration Shares
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means the Ordinary Shares to be allotted and issued to the Seller pursuant to clause [3 OR [insert clause number for consideration clause]][ and any shares resulting from a capitalisation, sub-division or consolidation of the shares by the Buyer prior to Completion];
Ordinary Shares
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means the ordinary shares of £[insert number] each in the capital of the Buyer; [and]
Delete clause 3 of Precedent: Share purchase agreement—pro-buyer—corporate seller—conditional—long form and replace it with the following new clause 3:
3. Consideration
3.1 The consideration for the Sale Shares shall be £[insert amount] which shall be satisfied as follows:
3.1.1 the sum of £[insert amount] shall be paid in cash on Completion in accordance with clause 7; and
3.1.2 the
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