Shareholders' agreement: warranties
Extensive warranties protect the lender of any loan. This document includes 50+ warranties. Probably only some are relevant to your situation. The document provides flexibility to choose which best you to ensure you include only what is significant to your transaction. Simply delete when you do not need.
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
About this document
These warranties have been drawn specifically for shareholders agreements. They are intended to be used only in a lending situation, to protect the lender.
They are not relevant to an agreement which does not involve a loan.
The document includes the text for addition to the shareholders agreement which introduces the warranties in a schedule. Around 85 warranties are provided, but you may find only 50 are relevant to the type of business with which you are concerned. Of those, only 10 or 20 are of sufficient importance to you to be included in the agreement.
The purpose of warranties to make sure that a lender or new shareholder gets what he expects. Those selling know everything about the business. A buyer or lender knows nothing except what he is told. Warranties act to level the playing field. The warranties as drawn are given by both the Company and the “other” shareholders. They therefore represent a very powerful weapon for the Lender.
Forming a new company? Don't forget to send Form 201 to the Australian Securities and Investments Commission. You can find the form here. There are no other required documents for company formation, however, many companies choose to use a 'Constitution' and 'Replacement Rules' which set the terms on which the company will do business. Contact us if you'd like these documents.
Application and features
- Comprehensive templates - delete what you do not need;
- Drawn in plain English;
- Suitable for any shareholders agreement.
- 89 individual warranties are in sections relating to:
- Consents and passwords;
- Joint ventures and partnerships;
- Statutory restrictions;
- Seller’s activities;
- Defective products and services liabilities;
- Freehold properties;
- Leasehold properties;
- Intellectual property;
- Internet domain names;
This document was written by a solicitor for Net Lawman. It complies with current Australian law.
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