Letter of Undertaking Seller's Solicitors
Letter of Undertaking From Seller's Solicitors Re. Completion Monies (Share Sale)
CO.SHARE.23
Share sale agreements usually state that the purchase price will be paid at
completion, but this may not always be possible because many completions
take place outside normal banking hours. This Letter of undertaking from
Seller's solicitors re completion monies (Share Sale) should be used when
the Buyer or the Buyer’s Solicitors have transferred the completion monies
to the Seller’s solicitors ahead of completion. The document is an
undertaking given by the Seller’s solicitors that they hold the completion
monies to the Buyer’s order but will automatically be released from the
undertaking when completion takes place. At completion, the monies will be
held to the Seller’s order. The Sellers’ solicitors undertake to pay
interest to the Buyer for the days they hold the completion monies to the
Buyer’s order.
Optional phrases / clauses are enclosed in square brackets. These should be
read carefully and selected so as to be compatible with one another. Unused
options should be removed from the document.
This Letter of undertaking is in open format. Either enter the requisite
details in the highlighted fields or adjust the wording to suit your
purposes.
Once you have purchased access to the appropriate document folder click on
the “Download Document” button below. You will be asked what you want to do
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