Ontario Schedule to Asset Purchase Agreement for Purchase of Hotel Assets

Use this template to prepare a Schedule ⁄ Addendum to Asset Purchase Agreement for the purchase and sale of the assets of a hotel business in the Province of Ontario.

• The seller must comply with the requirements of the Ontario Bulk Sales Act.
• Room rentals, restaurant and lounge receipts will be adjusted at midnight on the date of closing.
• Method of transferring the liquor license to the purchaser.
• The seller warrants that the employees are not represented under a collective bargaining agreement.
• Conditions of the purchaser for closing the transaction.
• Representations and warranties of the seller.
• Disclosure of revenues, expenses, contracts and business information.
• Assignment of service contracts and leases, trade names, signage and phone numbers from the seller to the purchaser.

This Ontario Schedule to Asset Purchase Agreement for Purchase of Hotel Assets is available in MS Word format, and is fully editable to meet your business needs.