The goodwill purchase agreement is a purchase agreement that only provides for a buy-sell transaction of goodwill assets, unlike our asset purchase agreement (see template Y02500), which is broader in scope. Goodwill assets include contracts with the seller's clients, trademarks, inventory, promotional material, its website and social media accounts, etc.

0.00 INTERPRETATION
0.01 Definitions
0.01.01 Agreement
0.01.02 Breach
0.01.03 Claim
0.01.04 Client(s)
0.01.05 Dispute
0.01.06 Encumber / Encumbrance
0.01.07 Force Majeure
0.01.08 Goodwill Assets
0.01.09 Law
0.01.10 Legal Representatives
0.01.11 Loss
0.01.12 PARTY
0.01.13 Person
0.01.14 Prime Rate
0.02 Entire Agreement
0.03 Applicable Law
0.04 Non-Compliance
0.04.01 Severability
0.04.02 Substitute Provision
0.05 Miscellaneous
0.05.01 Cumulative Rights
0.05.02 No Waiver
0.05.03 Time and Days
a) Time of the Essence
b) Computation of Time
c) Delays
0.05.04 Financial References
0.05.05 Cross-References
0.05.06 Gender and Number
0.05.07 Headings
0.05.08 Knowledge
0.05.09 Approval
1.00 PURPOSE
1.01 Sale and Assignment
1.02 Client Contracts
1.02.01 Sale
1.02.02 Collaboration
1.02.03 Reimbursement
1.03 Conditions
1.03.01 Required by BUYER
1.03.02 Required by SELLER
1.03.03 Election
2.00 CONSIDERATION
2.01 Purchase Price
2.02 Allocation of Purchase Price
2.03 Estimated Value
3.00 TERMS OF PAYMENT
3.01 Purchase Price
3.02 GST and QST
3.02.01 Registration Numbers
3.02.02 Election
3.03 Interest
3.04 Waiver of Compensation
3.05 Forfeiture of Term
4.00 SECURITY
4.01 Movable Hypothec Without Delivery
4.02 Suretyship
5.00 MUTUAL REPRESENTATIONS AND WARRANTIES
5.01 Status
5.02 Authority
5.03 Binding Agreement
5.04 Commission
5.05 Nominee
5.06 Independent Legal Advice
5.07 Disclosure
5.08 Legal Proceedings
6.00 REPRESENTATIONS AND WARRANTIES OF BUYER
7.00 REPRESENTATIONS AND WARRANTIES OF SELLER
7.01 Client Contracts
7.01.01 Breach
7.01.02 Knowledge
7.02 Proprietary Rights
7.03 Trademarks
7.04 Consent and Notice
7.05 Key Clients
7.06 Advertising and Promotional Material
7.07 Accounts Receivable
7.08 Inventory and Promotional Material
8.00 MUTUAL DUTIES AND OBLIGATIONS
8.01 Continuation of Representations and Warranties
8.02 Indemnification
8.02.01 Scope
8.02.02 Procedure
8.02.03 Third-Party Claim
8.02.04 Duration of Representations and Warranties
8.02.05 Deductible
8.02.06 Limitation
8.03 Disclosure of Agreement
8.03.01 Undertaking
8.03.02 Public Announcement
8.03.03 Exception
8.03.04 Default
8.04 Further Assurances
9.00 DUTIES AND OBLIGATIONS OF BUYER
9.01 Exemption from Liability
10.00 DUTIES AND OBLIGATIONS OF SELLER
10.01 Non-Competition
10.01.01 Scope of Undertaking
a) Definitions
b) Scope
10.01.02 Breach of Undertaking
a) Automatic Penalty
b) Payment
c) Protective Measures
10.01.03 Reasonableness of Clause
10.02 Non-Solicitation of Clients
10.02.01 Undertaking
a) Definition
b) Scope
10.02.02 Breach of Undertaking
a) Automatic Penalty
b) Payment
c) Protective Measures
10.03 Collaboration Regarding Client Contracts
10.04 Discharge of Encumbrances on Goodwill Assets
10.04.01 Undertaking
10.04.02 Remittance of Amount in Trust
10.05 Assistance
10.06 Referrals to BUYER
10.07 Collaboration Regarding Accounts Receivable
11.00 SPECIAL PROVISIONS
11.01 Assignment
11.01.01 Prohibition
11.01.02 Reasonable Cause
11.01.03 Effect of Breach
11.01.04 Exception
11.02 Force Majeure
11.02.01 Limitation on Liability
11.02.02 Duty
11.02.03 Right of Other PARTY
11.03 Relationship Between the PARTIES
12.00 GENERAL PROVISIONS
12.01 Notices
12.02 Dispute Resolution
12.02.01 Good Faith Negotiations
a) Written Notice
b) Meeting
c) Legal Proceedings
d) Protective Measures
12.02.02 Mediation
a) Process
b) Settlement
c) Arbitration [OR Legal Proceeding]
12.02.03 Arbitration Procedure (if V1 of 12.02.02 c) applies)
a) Notice
b) Reply
c) Appointment of a Third Arbitrator
d) Subcontracts
e) Confidentiality
f) Hearing
g) Ruling
h) Costs
i) Supplementary Rules
12.03 Choice of Forum
12.04 Counterparts
12.05 Amendment
12.06 No Waiver of Rights
12.07 Electronic Transmission and Signature
12.08 Language
13.00 TERMINATION
14.00 EFFECTIVE DATE
15.00 DURATION
16.00 SCOPE
16.01 PARTIES
16.02 Previous Agreements

SCHEDULE A – EXCERPT OF A RESOLUTION OF BUYER
SCHEDULE B – EXCERPT OF A RESOLUTION OF SELLER
SCHEDULE 0.01.04 – CLIENTS
SCHEDULE 0.01.08 d) – TRADEMARKS
SCHEDULE 0.01.08 h) – PROMOTIONAL MATERIAL
SCHEDULE 0.01.08 i) – INVENTORY
SCHEDULE 1.02.01 – CLIENT CONTRACTS
SCHEDULE 2.02 – ALLOCATION OF PURCHASE PRICE
SCHEDULE 4.01 – MOVABLE HYPOTHEC WITHOUT DELIVERY
SCHEDULE 4.02 – PERSONAL GUARANTEE
SCHEDULE 7.05 – KEY CLIENTS
SCHEDULE 7.02 – ENCUMBRANCES
SCHEDULE 10.01.01 A – NON-COMPETITION - ACTIVITIES
SCHEDULE 10.01.01 B – NON-COMPETITION - TERRITORY
SCHEDULE 10.02.01 – NON-SOLICITATION - PRODUCTS AND SERVICES