Buyback & Contribution Agreements

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Three party agreement where seller agrees to buy back goods it sold at the end of a term of financing.

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Agreement between a Buyer of goods, a Seller of goods and a Bank financing the purchase of the goods, by which the Seller agrees to buy back the goods from the Bank at the end of the term of the financing.

This form includes special formatting features to assist you in completing the agreement.
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Buyback Agreement

 

 

THIS AGREEMENT dated as of [Date (ie. July 31, 2002)].
A M O N G:
[NAME OF BUYER], of [Address of Buyer]
(the “Buyer”)
- and -
[NAME OF SELLER], of [Address of Seller]
(the “Seller”)
- and -
[NAME OF BANK], [Address of Bank Branch Office] 
(the "Bank")
WHEREAS:
(A)   The Buyer has agreed to buy from the Seller the goods described in Schedule "A" hereto (the "Goods") for a purchaser price of $[Purchase Price of Goods]; and
(B)   The Bank has agreed to provide financing to assist the Buyer in such purchase conditional upon the Seller agreeing to repurchase the Goods as set out herein;
NOW THEREFORE in consideration of the recitals, the mutual covenants hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:
1.   The Seller agrees that the security held by the Bank over the Goods shall rank in priority to any security interest the Seller may now or later hold in the Goods.
2.   The Seller will, at the request of the Bank, repurchase the Goods on an “as is where is” basis from the Buyer or the Bank, as the case may be, for a purchase price (the “Purchase Price”) of $[Maximum Buyback Price] less $[Monthly Reduction in Buyback Price] for each month which passes after [Date on Which Monthly Reduction in Buyback Price Commences].
3.   The Purchase Price will be paid directly to the Bank without setoff within 20 days of the Banks written request. All parties agree that title to the Goods passes to the Seller upon payment of the Purchase Price without any further transfer documents required.
4.   In the alternative the Seller may, at its option, choose to purchase the Banks security documentation creating a security interest in the Goods in support of the Buyer's indebtedness to the Bank. In such event, the Seller must notify the Bank in writing of its election within ten (10) days of the Banks written request and must pay to the Bank all amounts owing to the Bank from the Buyer under any outstanding loans within twenty (20) days of the Banks written request.
5.   The Buyer agrees to the terms of this Agreement, agrees to facilitate the Sellers taking of the Goods and agrees to sign any documents reasonably required by the Seller and to provide access to the Seller for the removal of the Goods and any related documentation, manuals, log books and accessories. The Buyer appoints the Bank as its true and lawful attorney for these purposes with full power to sign in the Buyers name and releases the Bank and its employees and agents from any liability for actions of the Bank hereunder.
6.   The service of the Banks request or a notice is effectively delivered when faxed to the recipient or when delivered to the recipients above address by hand or by registered mail.
 
 
 
 
Witness
 
[NAME OF BUYER]
 
 
 
 
 
Witness
 
[NAME OF SELLER]
 
 
 
 
[NAME OF BANK]
 
 
 
 
Per:
 
 
 
 
Name:   
Title:   
 
 
 
 
Schedule "A"Description of Goods
[Insert Description of Goods]
Number of Pages5
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28616
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Buyback Agreement

 

 

THIS AGREEMENT dated as of [Date (ie. July 31, 2002)].
A M O N G:
[NAME OF BUYER], of [Address of Buyer]
(the “Buyer”)
- and -
[NAME OF SELLER], of [Address of Seller]
(the “Seller”)
- and -
[NAME OF BANK], [Address of Bank Branch Office] 
(the "Bank")
WHEREAS:
(A)   The Buyer has agreed to buy from the Seller the goods described in Schedule "A" hereto (the "Goods") for a purchaser price of $[Purchase Price of Goods]; and
(B)   The Bank has agreed to provide financing to assist the Buyer in such purchase conditional upon the Seller agreeing to repurchase the Goods as set out herein;
NOW THEREFORE in consideration of the recitals, the mutual covenants hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:
1.   The Seller agrees that the security held by the Bank over the Goods shall rank in priority to any security interest the Seller may now or later hold in the Goods.
2.   The Seller will, at the request of the Bank, repurchase the Goods on an “as is where is” basis from the Buyer or the Bank, as the case may be, for a purchase price (the “Purchase Price”) of $[Maximum Buyback Price] less $[Monthly Reduction in Buyback Price] for each month which passes after [Date on Which Monthly Reduction in Buyback Price Commences].
3.   The Purchase Price will be paid directly to the Bank without setoff within 20 days of the Banks written request. All parties agree that title to the Goods passes to the Seller upon payment of the Purchase Price without any further transfer documents required.
4.   In the alternative the Seller may, at its option, choose to purchase the Banks security documentation creating a security interest in the Goods in support of the Buyer's indebtedness to the Bank. In such event, the Seller must notify the Bank in writing of its election within ten (10) days of the Banks written request and must pay to the Bank all amounts owing to the Bank from the Buyer under any outstanding loans within twenty (20) days of the Banks written request.
5.   The Buyer agrees to the terms of this Agreement, agrees to facilitate the Sellers taking of the Goods and agrees to sign any documents reasonably required by the Seller and to provide access to the Seller for the removal of the Goods and any related documentation, manuals, log books and accessories. The Buyer appoints the Bank as its true and lawful attorney for these purposes with full power to sign in the Buyers name and releases the Bank and its employees and agents from any liability for actions of the Bank hereunder.
6.   The service of the Banks request or a notice is effectively delivered when faxed to the recipient or when delivered to the recipients above address by hand or by registered mail.
 
 
 
 
Witness
 
[NAME OF BUYER]
 
 
 
 
 
Witness
 
[NAME OF SELLER]
 
 
 
 
[NAME OF BANK]
 
 
 
 
Per:
 
 
 
 
Name:   
Title:   
 
 
 
 
Schedule "A"Description of Goods
[Insert Description of Goods]

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