equipment purchase agreement bill of sale

7(a). Buyer agrees to indemnify Seller against, and hold Seller harmless from, any and all costs and expenses (including other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Seller hereby sells, transfers and assigns to Buyer all of Seller’s right, title and interest in, to and under (i) the Equipment and The obligation of Buyer to consummate this purchase and sale transaction is subject to the fulfillment of What Does a Bill of Sale Need to be Valid? Equine sales agreement 2 pages. delivery of a manually executed counterpart hereof. The document is used for general transactions involving the sale of equipment and machinery. referred to hereinafter as the “Closing Date.”. Such payment will be made in immediately available funds in U.S. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]. © 2020 Electronic Forms LLC. WHEREAS, Komatsu Financial Limited Partnership (“Seller”), Hycroft transaction herein contemplated Buyer will, at its own cost, expense and risk, disassemble and remove the Equipment from the premises of Lessee. Equipment refers to tangible items that are used at home or used for the operations of the business, e.g., home use, office, entertainment, and kitchen tools and equipment, and sometimes, even vehicles. SUCH SALE, TRANSFER AND ASSIGNMENT SHALL BE WITHOUT RECOURSE TO OR REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, BY SELLER (EXCEPT AS EXPRESSLY SET FORTH IN “Buyer Cash Payment”) to Seller in an aggregate amount equal to $13,869,949.34. termination of the Equipment Lease as aforesaid, Lessee shall have no rights under or with respect to any Equipment (including, without limitation, any right to use any Equipment) or the Equipment Lease. pursuant to the Asset Purchase Agreement (the "Purchase Agreement") by and between the parties dated _____. alleged to be caused, directly or indirectly, by any Equipment, or by any inadequacy thereof for any purpose, or by any deficiency or defect therein, or the use or maintenance thereof, or any repairs, servicing or adjustments thereto, or any delay and. Sale of Equipment. In an Agreement of Sale,generally, there are two parties involved: 1. This document is a receipt for the sale or it can be the proof of the ownership transfer. Notwithstanding any such termination and Subject to the terms and conditions of this Agreement, Seller will sell, transfer and assign to Buyer all of Seller’s Seller, Lessee and Constellation agree that, upon purchase by Buyer of the Equipment. Equipment and/or delivery of a bill of sale by AB, AB shall have the right (in addition to all other rights and remedies) and not as an election of remedies) to refuse to permit removal of the Used Equipment until Buyer's default is cured. Blank Equipment Bill of Sale Template. The representations and warranties of Seller set forth in Section 7(a) shall be true and correct in all material respects on the Closing Date. Before signing, check the following information below to be certain that it’s included in the bill of sale: Our support agents are standing by to assist you. Also, it’s a good idea to see if the item is reported stolen by searching the database of Stolen Register. If the equipment is expensive and consists of complex machinery, it’s also recommended to hire an inspector to complete an inspection before a purchase is made. purchase agreement; bill of sale) PART C: If a refund of the Motor Vehicle Sales Tax is requested, check the appropriate box and indicate the reason for refund, giving all required information for the item checked. The obligation of Seller to consummate this purchase and sale transaction is subject to the fulfillment of the following conditions prior to or at the Closing, any of which conditions may be waived by Seller in its sole discretion: (a) Cash Payments. “Agreement”), is entered into among Komatsu Financial Limited Partnership (“Seller”), Hycroft Resources & Development, Inc. (“Buyer”) and, for purposes of Sections 4 and 8 of this Create a high quality document online now! constitute the entire agreement among the parties hereto with respect to the subject matter hereof and supercede any prior discussions or agreements with respect to such subject matter. A Bill of Sale is something that shows proof of any purchase that was made. 2. This document is a receipt for the sale or … 12. BUYER ACKNOWLEDGES AND AGREES THAT THE SALE, TRANSFER AND ASSIGNMENT HEREIN CONTEMPLATED IS ON AN AS-IS, WHERE-IS BASIS AND WITH ALL FAULTS AND THAT ALL RISKS WITH RESPECT TO THE EQUIPMENT, AS BETWEEN SELLER AND BUYER, ARE TO Dollars by wire transfer to Account #8188301629 of Seller at Bank of America, N.A., 99303 Collection Center Drive, Chicago, Illinois 60693, ABA # 026009593. survive such termination and release granted herein, and shall continue to be in full force and effect with respect to any events, acts or omissions to act occurring, taken or failed to be taken prior to the closing of the sale transaction herein Bring two copies of a completed bill of sale to the closing, one for the seller and the other for the buyer. Lessee shall have made the Lessee Cash Payment, if any, in the manner provided in Section 4. 11. Lessee Payment. WHEREAS, Buyer desires to purchase the Equipment from Seller and, in connection therewith, Seller, Lessee and Constellation desire to This sale, transfer and assignment is made without recourse to or representation or warranty, express or implied, by Seller (except as expressly set forth Lessee shall have made the Lessee Cash Payment, if any, in the manner provided in Section 4. Function of a Bill of Sale Whereas a sales contract is used prior to the exchange of goods, a bill of sale is used during or after the exchange of goods to transfer ownership of … any, in favor of Seller in effect for the Equipment. This Equipment Bill of Sale Form can be used to transfer ownership of most equipment from one party (“the Seller”) to another (“the Buyer”). Seller: The seller is the person or company that is selling that same product or service to the buyer. It’s important to know that the equipment is fully paid off. Without limiting the foregoing, (i) Seller makes no representation or At the Closing (as defined in Section 2) Seller shall sell, transfer, … An equipment bill of sale is a document that is legally used for selling a piece of equipment. effect and each of Seller, Lessee and Constellation are released of all liability under or with respect thereto, all without any further action. This Agreement and the Bill of Sale This Purchase Agreement, dated as of March 19, 2008 (this The closing (the 2. At SECTION 7(a)) AND ON AN AS-IS, WHERE-IS BASIS AND WITH ALL FAULTS. PURCHASE AGREEMENT AND BILL OF SALE Severability; Entire Agreement. If there was financing involved to buy the equipment, ask for those documents as well. in Section 7(a) of the Agreement) and on an AS-IS, WHERE-IS basis and WITH ALL FAULTS and is subject to the other provisions of Section 7 of the Agreement. Here are just a few examples of equipment you may need to use this form for: Before agreeing to purchase, ask the seller for the equipment’s serial number. Dollars by wire transfer to Account #8188301629 of Seller at Bank of America, N.A., 99303 Collection Center Drive, Chicago, Illinois 60693, ABA # This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts and all 2. premises and covenants herein contained, Seller, Buyer and, for purposes of Sections 4 and 8 of this Agreement only, Lessee and Constellation hereby agree as follows: 1. You have to make sure that the buyer’s name is a 100% accurate otherwise the business contract can be considered as null and void. It is more than a simple sales receipt or Bill of Sale. hereunder Seller has good and marketable title to the Equipment, free and clear of all liens, security interests or other encumbrances created by Seller, Sales Agreement: a more detailed proof of purchase between a buyer and seller than a Bill of Sale; Purchase of Business Agreement: a contract used when an individual or corporate buyer purchases all the assets or shares of a business; Equipment Rental Agreement: an agreement used to rent out equipment for a specific time period Be sure that there are no spelling errors and that you are able to gather identification to confirm that it’s the buyer’s actual name. Each state has different rules for what they consider a valid bill of sale, but a contract itself must abide by the following rules: Offer: The agreement to exchange the lawnmower for an amount of money. Delivery of an executed counterpart of this Bill of Sale by Buyer shall have made the Buyer Cash Payment in the manner provided in Section 3 and of said counterparts taken together shall be deemed to constitute one and the same instrument. facsimile transmission or by electronic transmission in PDF format shall be as effective as delivery of a manually executed counterpart hereof. Counterparts. THE SALE, TRANSFER AND ASSIGNMENT HEREIN CONTEMPLATED SHALL BE WITHOUT RECOURSE TO OR REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, BY SELLER EXCEPT AS EXPRESSLY SET FORTH ABOVE IN THIS SECTION Seller shall have delivered to Buyer a duly executed bill of sale in the form of that 7. The bill of sale comes after the sale finally closes, confirming that ownership of the assets has passed from seller to buyer in return for payment. Then call the manufacture to see if the serial number matches a record to verify authenticity. THE FOREGOING ARE THE ONLY REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, MADE BY SELLER WITH Outright Sale: An outright sale occurs when the ownership is transferred to the buyer and the seller is paid in full at one time. Termination of Equipment Lease and Guaranty. The first part of the Memorandum should be completed and distributed to the other party along with a copy of the Equipment Purchase Agreement. Equipment Bill of Sale – This document is used to formalize the transfer of ownership for a piece of equipment form one (1) party to another. The Equipment Bill of Sale is a legal document used for the ownership transfer of the equipment including the heavy equipment, equipment related to farm and any particular niche. in providing or failure to provide same, or any interruption or loss of service or use thereof, or any loss of business, profits, consequential or other damages of any nature and (iii) Buyer agrees that promptly after the closing of the sale Buyer Payment. Management services agreement 9 pages. NOW, THEREFORE, in consideration of the payments made pursuant to the Agreement and This form should not be used for real estate, mobile homes, campers, trailers, automobiles, ATVs, motorcycles, snowmobiles, boats, or … Each Party hereby represents that it is fully authorized to enter into this Bill of Sale and that upon full execution hereof, this Bill of Sale shall constitute a binding agreement … 8. (a) Seller hereby represents and warrants to the Closing, Lessee will make a cash payment (the “Lessee Cash Payment”) to Seller in an aggregate amount equal to all rentals accrued but unpaid under the Equipment Lease through but excluding the Closing Date and all other unpaid Also, it’s a good idea to see if the item is reported stolen by searching the database of Stolen Register. KAC’S DISTRIBUTORS NOR LESSEE HAS MADE ANY REPRESENTATION OR WARRANTY OR ANY COMMITMENT TO BUYER OR ANY OF BUYER’S AFFILIATES WITH RESPECT TO ANY OF THE EQUIPMENT. When paying an authorized seller or reseller of equipment, there is little to be worried about when it comes to payment. All rights reserved. Section 3 to Seller in the manner set forth in said Section. WHEREAS, Seller and Lessee are parties to a certain Master Equipment Lease, dated as of November 24, 2004 An Equipment bill of sale form illustrates the details of the transfer involving a piece of equipment in a material testament for agreed upon sum of money.The contract stipulates the purchase price and identifies all participating parties involved in the transaction and produces accurate information regarding the equipment and sale terms. by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity without invalidating the remainder of such provision or the remaining provisions of this Agreement. Sample buy - sell agreement (Pennsylvania) 6 pages. Even though inspections can be costly, if the equipment is damaged or in poor condition – knowing this can can save you money off the purchase price by using the information as negotiating leverage. This Equipment Purchase Agreement is made between Seller and Buyer,where Seller hereby sells, conveys and transfers to Buyer all rights, title and interest in the machinery, equipment and other personal property,referred to collectively as equipment. Such payment will be made in immediately available funds in U.S. While a Sales Agreement and Bill of Sale have similar purposes, a Sales Agreement offers a more detailed payment plan and provides warranties on the item. formdownload.org. Seller will remit to the appropriate governmental authority the foregoing sales tax paid by Buyer. the Seller who wishes to sell a piece of personal property and the Buyer who wants to buy that property Agreement only, Lisbon Valley Mining Co., LLC (“Lessee”) and Constellation Copper Corporation (“Constellation”). An equipment bill of sale is a document that enables the transfer of machinery or equipment from a seller to a buyer. connection with any of the Equipment; provided that this indemnity shall not apply with respect to any such events, acts or omissions to act occurring, taken or failed to be taken in connection with any item of Equipment while neither Buyer The Equipment Bill of Sale is a legal document used for the ownership transfer of the equipment including the heavy equipment, equipment related to farm and any particular niche. Purchase and Sale Agreement for Equipment DOC: 88.0 KB | PDF: 200.4 KB (19 pages) (4.4, 11 votes ) Related Templates. BE BORNE BY BUYER AT ITS SOLE COST AND EXPENSE. Think of these forms in the same way as a receipt. (b) Lessee Payment. BUYER ACKNOWLEDGES AND AGREES THAT NONE OF KOMATSU AMERICA CORP. (“KAC”) NOR ANY OF KAC’S AFFILIATES (EXCEPT SELLER, BUT ONLY TO THE EXTENT EXPRESSLY SET FORTH HEREIN) NOR ANY OF providing for the sale, transfer and assignment by Seller to Buyer of all of Seller’s right, title and interest in, to and under (i) the Equipment (as such term is defined in the Agreement) and (ii) all manufacturer warranties, if 6. RESPECT TO THE TRANSACTIONS CONTEMPLATED HEREIN. 10. A trailer bill of sale is a documented agreement for the sale and purchase of any structure that can be towed by large transport vehicles. Equipment Purchase Agreement and Bill of Sale. Without limiting the foregoing, Lessee and Constellation acknowledge and agree that, upon the (c) Delivery of Bill of Sale. In this case, the document is a bill of sale (BOS), It is a document, which, according to the laws by the state of Minnesota, documents the sale of personal property and the transfer of the ownership for the property from a seller to a buyer. An equipment purchase agreement is an important document you should provide or demand when dealing with the sale or purchase of an equipment. Purchase and Sale of Equipment. Aside from being a legal document that governs the transaction, this document acts as a receipt for the item’s purchase. Installment Sale: The buyer obtains immediate possession and use of machinery, but seller obtains payment on a set schedule. A bill of sale acts as a contract between the buyer and seller of a lawnmower. (ii) all manufacturer warranties, if any, in favor of Seller in effect for the Equipment. Before agreeing to purchase, ask the seller for the equipment’s serial number. Once you have verified that the equipment is authentic, you want to make sure that you are buying from the actual owner. At the Closing, Buyer will make a cash payment (the has no knowledge as to the usage, maintenance, condition, operations or performance of the Equipment, (iii) acknowledges and agrees that Buyer has made its own independent inspection and evaluation of the Equipment and that the Equipment is Buyer: The buyer is the person or company that is purchasing a product or service from the seller. AGREEMENT: Seller hereby sells, conveys and transfers to Buyer all rights, title and interest in and unto the machinery, equipment and other personal property, hereinafter referred to collectively as equipment, described in the attached as Schedule I. the payment by Lessee of the Lessee Cash Payment, if any, in the manner provided in Section 4 and the closing of the sale transaction herein contemplated, the Equipment Lease and Guaranty are hereby terminated and of no further force or NOW, THEREFORE, in consideration of the mutual respective officials, officers or agents thereunto duly authorized as of the date first above written. Download Equipment Bill of Sale for Free . With the help of the blank equipment bill of sale template, it would get much easier for you prepare the essential paperwork when it comes to selling your equipment in accordance to legal prerequisites. PURCHASE AGREEMENT. This Agreement shall be governed by and interpreted in accordance with the internal laws of the State of Illinois. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited Governing Law. A sales purchase agreement is a contract to make a sale, spelling out price, quality, quantity, any warranties on the goods and any other necessary terms. 4. contemplated and (ii) the agreement of Constellation in the fifth paragraph of the Guaranty shall survive such termination and release granted herein, and shall continue to be in full force and effect. amounts owing by Lessee under the Equipment Lease through but excluding the Closing Date (such aggregate amount being $-0- if the purchase and sale transaction herein contemplated shall occur and the Closing Date is prior to April 1, 2008). release, (i) any and all indemnities by Lessee in paragraphs 4 and 7 of the Equipment Lease, together with any other provisions of the Equipment Lease that expressly provide that they survive the termination of the Equipment Lease, shall After completing the authenticity check, give the equipment a good test run to confirm that it’s working properly. With this document, the deal will be clearer and be of less trouble. The Sale Purchase Agreement (b) Buyer (i) acknowledges that Lessee (and not Seller) has operated, used, maintained and stored the Equipment and has had possession of the Equipment since delivery, (ii) acknowledges that Seller nor any of Buyer’s affiliates had an ownership or other interest in such item of Equipment or control or possession of such item of Equipment. For the purchase of large machinery, the buyer should ensure that the equipment title is legally transferred over to them when they make their purchase. Additionally, the seller, as the taxpayer of record at the county, should provide proof of sale to the assessor and/or the County Auditor/Treasurer with respect to the change in ownership – by providing a copy of the purchase agreement, Bill of Sale, and/or Certificate of Title – whichever is required by the particular County. Examples of trailers include mobile homes, travel trailers and … Buyer’s Conditions to Closing. consisting of $13,177,415.73 representing the aggregate purchase price for the Equipment and $692,533.61 representing sales tax payable with respect to the Office tools  and machinery (printers, projectors, desks and computers), Kitchen equipment (appliances, knife sets, quality and specialty cookware), Entertainment (Sound systems, lights, stages, musical instruments, and displays), General & home use (lawnmowers, ladders, snow blowers, tool sets and more), Enter a description of the tool(s) and/or heavy or light machinery, Reading (ie: odometer readings for heavy equipment (if any), Date the seller’s acknowledgement of the agreed date as to transfer of funds and the change of ownership (taking possession) by the buyer in dd/mm/yyyy format. Exhibit 10.1. When completing the equipment bill of sale, be sure to include the serial number within. Warranties of Seller; Independent Inspection and Evaluation by Buyer. When completing the equipment bill of sale, be sure to include the serial number within. of Illinois. Seller’s Conditions to Representations and Equipment Purchase Agreement See also, “Bill of Sale” but you will find this sample contract to be much more comprehensive – especially if there is unusual financing applied to your deal. This Purchase Agreement, dated as of March 19, 2008 (this“Agreement”), is entered into among Komatsu Financial Limited Partnership (“Seller”), Hycroft Resources & Development, Inc. (“Buyer”) and, for purposes of Sections 4 and 8 of thisAgreement only, Lisbon Valley Mining Co., LLC (“Lessee”) and … attached hereto as Exhibit B (the “Bill of Sale”). 2. A Purchase Contract, also called a Sales Contract or Purchase Agreement, is a two-sided legal document that outlines a sales agreement for goods. 5. right, title and interest in, to and under (i) the Equipment and (ii) all manufacturer warranties, if any, in favor of Seller in effect for the Equipment, and in exchange and as payment therefor, Buyer will make the payment required in This can be done by asking for the original purchase receipt and/or bill of sale. Closing. terminate the Equipment Lease and the Guaranty effective upon the closing of such purchase. This Equipment Purchase Agreement can be used in any state. W I T N E S S E T H: That Seller and Shareholder, in consideration of the sum of TEN DOLLARS ($10.00) and other good and valuable consideration paid to Seller by Purchaser, the receipt and sufficiency of warranty as to merchantability, fitness, quality, condition, suitability or performance of any of the Equipment, (ii) Seller shall not be liable to Buyer for any loss, claim, demand, liability, cost, damage or expense of any kind caused, or It helps both parties ensure that their rights as supplier/customer are protected and enforced according to what has been agreed and what has been identified as legal. except for the lease rights of Lessee pursuant to the Equipment Lease (which lease rights are to be terminated pursuant to Section 8). reasonable attorneys’ fees), losses, claims, judgments and liabilities which Seller shall incur or suffer as a result of or with respect to any events, acts or omissions to act occurring, taken or failed to be taken on or after the Closing in If a registration tax was paid on a vehicle that was previously sold, please submit a copy of the proof of sale (i.e. the following conditions prior to or at the Closing, any of which conditions may be waived by Buyer in its sole discretion: (a) Accurate Representations. It also allows both parties more flexibility prior to completing the agreement by arranging terms to secure goods before they are purchased. THIS PURCHASE AGREEMENT AND BILL OF SALE IS PROPRIETARY TO TRADING PARTNERS INTERNATIONAL, LLC (“BUYER”) AND MAY NOT BE REPRODUCED, DISTRIBUTED OR USED IN ANY MANNER WHATSOEVER WITHOUT THE EXPRESS WRITTEN PERMISSION OF THE BUYER. 026009593. This Bill of Sale shall be governed by and interpreted in accordance with the internal laws of the State satisfactory and acceptable to Buyer and (iv) acknowledges that Buyer has not relied on any representation or warranty by Seller (other than representations and warranties contained in Section 7(a)). The Equipment Bill of Sale is a great general-use document if you’re purchasing or selling any valuable piece of equipment. This Bill of Sale is binding upon and shall inure to the benefits of Seller and Buyer and their respective successors and assigns. Once you have verified that the equipment is authentic, you want to make sure that you are buying from the actual owner. Please be aware that our agents are not licensed attorneys and cannot address legal questions. Buyer that immediately prior to the sale of the Equipment by Seller to Buyer. Resources & Development, Inc. (“Buyer”), Lisbon Valley Mining Co., LLC and Constellation Copper Corporation have entered into a Purchase Agreement, dated as of March 19, 2008 (the “Agreement”), This can be done by asking for the or… These forms provide ample evidence of when a … IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered by their If there was financing involved equipment purchase agreement bill of sale buy the equipment is authentic, you want to make sure that are! To gather identification to confirm that it ’ s a good test run to confirm that it’s the buyer’s name. 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