Normally one party (“the Potential Purchaser“) would indicate its interest in purchasing the member’s interest to another party (“the Potential Seller“) in a notice of conditional interest; the notice would inter alia state that the sale is subject to a due diligence of the underlying business or property, as the case may be, the obtaining of finance, evaluation of regulatory permits etc. and such like.
With the two sale of members’ interest agreements that we have for sale on this site, it is not necessary to purchase a separate Notice of Conditional Interest as the agreements that we have for sale have suspensive conditions in them that regulate the above issues and more. This means that the agreements get signed, but do not come into force until the suspensive conditions are met. This takes care of the Conditional Notice of Interest aspect. (We do advise that parties’ keep detailed records of all correspondence.)
Please have a look at the explaantory notes for both agreements for further information. It is advised that prior to signing the agreement, however, that a confidentiality agreeent is signed.
