buy-sell agreement

Definition of "buy-sell agreement"
  1. A contract among co-owners specifying the procedures and conditions for buying out a departing owner's stake, including limitations on the sale, potential buyers, and the agreed price
How to use "buy-sell agreement" in a sentence
  1. After an owner's retirement, the buy-sell agreement will specify who will purchase their interest.
  2. If an owner becomes bankrupt, the buy-sell agreement outlines the next steps for the purchase of their stake.
  3. The buy-sell agreement determined what would happen with the owner's interest upon his disability.

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