Sample Buy-Sell Agreement Template Page 10
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14appraiser mutually selected by the Buyer(s) and Seller of the ownership interest subject to
purchase under this agreement. If the Buyer(s) and Seller are unable to agree upon an
independent appraiser within thirty (30) days, within the next ten (10) days, each shall
select an independent appraiser. If the selected appraisers are unable, within sixty (60)
days, to agree on the fair market value of the company, then the appraisers shall select an
additional independent appraiser within the next ten (10) days, who shall, within 30 days,
determine the fair market value of the company. The Buyer(s) and Sellers shall equally
share all costs of an appraiser mutually selected by the Buyer(s) and Seller or of an
additional appraiser. All costs of an individually selected appraiser shall be paid by the
party selecting the appraiser. The value of an individual owner's interest shall be the
entire value for the company as determined under this paragraph, multiplied by his or her
ownership percentage.
Section 5: Payment Terms
Unless otherwise provided in this agreement, the undersigned agree that the
payment terms checked below shall be used for the purchase of ownership interests.
[You must check one and only one of the payment terms alternatives below.]
[ ]
Payment Terms Alternative 1: Full Cash Payment
Cash payment for the Seller's ownership interest shall be made by the Buyer(s) to the
Seller within ____ days of the date the company provides a Notice of Intent to Purchase
to the Seller under this agreement.
[ ]
Payment Terms Alternative 2: Monthly Installments of Principal and Interest
The Buyer(s) shall pay the Seller the purchase price for an ownership interest in equal
installments over a term of ____ months, with interest added to the amount of each
installment computed at an annual rate of ______ and compounded annually on the
unpaid continuing balance of the purchase price of the ownership interest. The buyer
shall make the first installment payment to the Seller by _____, and the continuing
payments shall be made on the ____ of every month, until the full purchase price,
together with any interest owed, is paid in full.
[ ]
Payment Terms Alternative 3: Customized Schedule for Payment for
Sample Buy-Sell Agreement
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Parent category: Business