Car Rental Purchase Agreement
I. Introduction
This Car Rental Purchase Agreement (the "Agreement") is made and entered into as of January 1, 2050 by and between [Your Company Name], a [State] corporation with its principal place of business at [Your Company Address] ("Seller"), and [Your Partner Company Name], a [State] corporation with its principal place of business at [Your Partner Company Address] ("Buyer").
II. Definitions
A. Car: The vehicle being sold under this Agreement, described in detail in Exhibit A attached hereto.
B. Purchase Price: The total amount payable by Buyer to Seller for the Car, as specified in Section III.
C. Closing Date: The date on which the purchase and sale of the Car is completed, as specified in Section IV.
III. Purchase Price
The Purchase Price for the Car is $25,000 USD.
The Purchase Price shall be paid by Buyer to Seller in the following manner:
1.1. An initial deposit of $5,000 USD upon signing this Agreement.
1.2. The remaining balance of $20,000 USD on the Closing Date.
IV. Closing
A. The Closing Date shall be February 1, 2050. B. At Closing, the following shall occur:
Buyer shall deliver the balance of the Purchase Price to Seller.
Seller shall deliver the Car, along with the title and any other necessary documentation, to Buyer.
Both parties shall execute any additional documents required to complete the transaction.
V. Representations and Warranties
A. Seller's Representations and Warranties:
Seller is the sole legal owner of the Car and has the full right and authority to sell the Car.
The Car is free from any liens or encumbrances.
The Car is in good operating condition and has been maintained in accordance with manufacturer’s specifications.
B. Buyer's Representations and Warranties:
Buyer has the full right and authority to enter into this Agreement.
Buyer will register the Car in accordance with state and local laws.
VI. Conditions Precedent
The obligations of the parties under this Agreement are subject to the following conditions precedent:
VII. Indemnification
Each party agrees to indemnify, defend, and hold harmless the other party from and against any and all claims, liabilities, losses, damages, and expenses arising out of any breach of this Agreement.
VIII. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of laws principles.
IX. Miscellaneous
A. Entire Agreement:
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings.
B. Amendments:
This Agreement may not be amended or modified except in writing signed by both parties.
C. Severability:
If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
D. Counterparts:
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
X. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Car Rental Purchase Agreement as of the day and year first above written.
Seller: [Your Company Name]
Name: [Your Name]
Title: [Your Title]
Date: January 1, 2050
Buyer: [Your Partner Company]
Name: [Your Partner's Name]
Title: [Your Partner's Title]
Date: January 1, 2050
Car Rental Templates @ Template.net
