Ontario Asset Purchase Agreement for Assets of Operating Company

Purchase the assets of an Ontario corporation with this Asset Purchase Agreement for Assets of Operating Company.

• The seller (vendor) sells the assets of a company to the purchaser and the purchaser assumes the company's liabilities as part of the purchase price.
• The balance of the purchase price will be secured by a promissory note.
• The parties agree to file joint elections under sections 22 and 97(2) of the Income Tax Act (Canada) and as required under the Ontario Corporations Tax Act.
• The file includes a Section 116 Affidavit to be sworn by a corporate officer of the vendor, if applicable, as well as a Promissory Note.

This Ontario Asset Purchase Agreement for Assets of Operating Company template is fully editable to fit your specific circumstances.