An asset contribution agreement is a legal document drafted when an organization agrees to contribute a certain portion of its assets to another organization.The contribution of assets is usually done in return for shares of the organization to whom the assets are being contributed. There are certain terms and conditions stated in the agreement that both the parties need to agree to.
The details usually mentioned in an asset contribution agreement are as follows:
- The effective date of the agreement
- The name of both the organizations entering into the agreement.
- The official address of both the organizations
- The types of assets being contributed by one of the parties. The total valuation of the assets.
- The percentage of shares being given in return and the total valuation of the shares.
- The authorization of both the parties
- The general closing procedure and the actions required to be taken by the parties during closing.
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