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Buy–sell agreement can be in the form of a cross-purchase plan or a repurchase (entity or stock-redemption) plan. For greater neutrality and effectiveness of the buy–sell arrangement, the service of a corporate trustee is recommended. Profit or loss from a buy-sell agreement may trigger tax conquencess and taxable income. [2]
Keyera was founded in 1998 when Gulf Canada Resources Limited sold a 50% interest in its midstream division to a subsidiary of KeySpan Corporation, forming a partnership with the company. After Gulf sold its remaining interests in the midstream sector and the partnership, the company renamed KeySpan Energy Canada Partnership.
Buyout clauses are usually set at a higher amount than the player's expected market value. However, on occasion, a player at a smaller club will sign a contract but insist on a low buyout fee to attract bigger clubs if their performances generate interest, which de facto functions as a reservation price set for the selling club.
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Examples include: The Texas Air Corporation takeover of Continental Airlines but taking the Continental name as it was better known. The SBC takeover of the ailing AT&T and subsequent rename to AT&T. [10] Westinghouse's 1995 purchase of CBS and 1997 renaming to CBS Corporation, with Westinghouse becoming a brand name owned by the company.
It is a specific type of exit provision that may be included in a shareholders' agreement, and may often be referred to as a buy-sell agreement. The shotgun clause allows a shareholder to offer a specific price per share for the other shareholder(s)' shares; the other shareholder(s) must then either accept the offer or buy the offering ...
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