OWNERSHIP AGREEMENT

by | Jan 27, 2022 | Samples legal papers

OWNERSHIP AGREEMENT

This agreement (hereafter this ‘‘Agreement’’) is entered into and shall be effective as of the ______ day of ______________, 20___, (effective date) by and between ALEXANDER PHAN of address [ADDRESS] and ALDIN MALKOC of address [ADDRESS]. (Herein “parties”)

 

NOW, THEREFORE, in consideration of the premises, and of the mutual promises and undertakings herein contained, the parties, intending to be legally bound, do agree as follows:

THE AGREEMENT

  1. This agreement is made between the parties, effective as of the date hereof pursuant to, in accordance with and for purposes of the provisions of this agreement.
  2. Company Name and purpose 

The name of the Company is White Coat Tutors LLC (herein, “Company”). The Company deals in providing tutoring service for students of medicine, dentistry, nursing , pharmacy and any health professional that wears a white coat.

  1. Ownership

The Company’s ownership including any and all profits shall be divided equitably. Each party to this contract is entitled to a 50% of the total proceeds from the company and the ownership.

  1. Representations and warranties.

As of the date hereof, each of the statements contained herein shall be a true, accurate and full disclosure of all facts relevant to the matters contained therein, and such warranties and representations shall survive the execution of this Agreement.  Each Party hereby represents and warrants that:

  1. To the best of each party’s knowledge, neither the execution and delivery of this Agreement, nor the performance of or the compliance with, this Agreement has resulted (or will result) in any violation of, or be in conflict with, or invalidate, cancel or make inoperative, or interfere with, or constitute a default under, or result in the creation of any lien, encumbrance or any other charge upon the Property pursuant to any charter or bylaw provision, partnership agreement, trust agreement, mortgage, deed of trust, indenture, contract, agreement, permit, judgment, decree or order to which such Party is a party or by which the Property (or any portion thereof) is bound, and there is no default and no event or omission has occurred which, but for the passing of time or the giving of notice, or both, would constitute a default on the part of such Party under this Agreement.
  2. To the best of such Party’s knowledge, there is no action, proceeding or investigation, pending or threatened (nor any basis therefor) which questions, directly or indirectly, the validity or enforceability of this Agreement as to such Party or which would materially and adversely affect the Property or the Company.

Miscellaneous

  • Notices, Etc. 

Any notices or communications required between the Parties shall be delivered by hand, e-mail, or mailed by registered mail to the address of the other Party as indicated above. Any subsequent modification of a Party’s address should be reasonably communicated in advance to the effect of this Agreement. 

  1. Binding Effect.

Except as otherwise provided in this Agreement, every covenant, term and provision of this Agreement shall be binding upon and inure to the benefit of the Parties and their respective heirs, legatees, legal representatives, successors, transferees and assigns.

  1. Construction.

Every covenant, term and provision of this Agreement shall be construed simply according to its fair meaning and not strictly for or against any Party.

  1. Severability

Every provision of this Agreement is intended to be severable.  If any term or provision hereof is illegal or invalid for any reason whatsoever, such legality or invalidity shall not affect the validity or legality of the remainder of this Agreement.

  1. Applicable Law.

This agreement shall be governed by and construed in according with the laws of the State of ________________.

  1. Legal Action

Any action to enforce, arising out of or relating in any way to, any of the provisions of this Agreement may be brought and prosecuted in such court or courts located in the State of _____________ as is provided by law; and the parties consent to the jurisdiction of said court or courts located in the State of _________________ and to service of process by registered mail, return receipt requested, or by any other manner provided by law.

 

IN WITNESS WHEREOF, the parties have entered into this Agreement as of the day first above set forth.

 

ALEXANDER PHAN ALDIN MALKOC

Signature Signature

_____________________ _______________________

Date Date

_____________________ ________________________

 

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