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1 TO ASSET PURCHASE AGREEMENT

1 TO ASSET PURCHASE AGREEMENT 2025

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This document is Amendment No. 1 to an Asset Purchase Agreement between Morton Hospital and Medical Center, Inc., Morton Property, Inc., and Morton Physician Associates, Inc. (collectively referred to as 'Sellers') and Morton Hospital, A Steward Family Hospital, Inc. (referred to as 'Buyer'). The amendment modifies various terms of the original agreement dated March 29, 2011, including definitions related to control transactions, employee considerations, capital expenditure commitments, community benefits obligations, and the establishment of a local governing board. It also designates Steward Medical Group, Inc. as a Buyer party for specific asset acquisitions and liabilities.

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Click ‘Get Form’ to open the 1 TO ASSET PURCHASE AGREEMENT in our editor.
Begin by reviewing the Recitals section, which outlines the background of the agreement. Ensure you understand the context before proceeding.
Fill in the defined terms as necessary. Pay special attention to any changes made in this Amendment, particularly in Section 2 regarding 'Change in Control Transaction'.
Proceed to Section 3 and ensure that all employee-related clauses are accurately reflected, especially if there are specific employees involved.
In Section 4, carefully input any required information regarding Post-Closing Capital Expenditures. This section is crucial for compliance with financial obligations.
Review Sections 5 through 10 for any additional amendments or obligations that may affect your responsibilities under this agreement.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can I write my own purchase agreement?

The average cost (i.e., legal fees) for a lawyer to draft an asset purchase agreement is $1320 [1] on a flat fee basis. The average cost for a lawyer to review an asset purchase agreement is $730 [2] on a flat fee basis.

What is included in an asset purchase agreement?

Here are the generally presented clauses in a Share Purchase Agreement: Definition clause. Identification of Parties. Effective Date. Recitals. Purchase Price and Payment Terms. Conditions Precedent. Representations and Warranties. Indemnities.

What clauses are typically in a spa?

The buyers solicitor drafts the asset purchase agreement, but the seller may instruct their solicitor to negotiate on certain points.

What is in an asset purchase agreement?

Upon signing, an asset purchase agreement is legally binding. Still, there may be circumstances where even a signed document is not legally valid. For example, white space contracts are automatically deemed incomplete and legally non-compliant.

Is an asset purchase agreement legally binding?

Yes, you can absolutely write your own purchase agreement! But starting from scratch can be time-consuming and can get complicated quickly with legal language, required clauses, regional regulations, etc. The good news is that you dont have to start from ground zero.