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    Incorporation Agreement With One Incorporator To Advance The Payment of Shares

    Uploaded by

    Glae Adriano
    This agreement is between two parties regarding the incorporation of a new corporation. The second party intends to subscribe to shares of the new corporation but needs the first party to advance the payment. The first party agrees to advance the payment amount for the second party's shares. The second party will repay the advance to the first party through deductions from any dividends declared by the new corporation until the full amount is repaid. Until then, the shares will be considered held in trust by the first party.

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    Incorporation Agreement With One Incorporator To Advance The Payment of Shares

    Uploaded by

    Glae Adriano
    111 views2 pages
    This agreement is between two parties regarding the incorporation of a new corporation. The second party intends to subscribe to shares of the new corporation but needs the first party to advance the payment. The first party agrees to advance the payment amount for the second party's shares. The second party will repay the advance to the first party through deductions from any dividends declared by the new corporation until the full amount is repaid. Until then, the shares will be considered held in trust by the first party.

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    Incorporation Agreement With One Incorporator to Advance the Payment of Shares

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    This agreement is between two parties regarding the incorporation of a new corporation. The second party intends to subscribe to shares of the new corporation but needs the first party to advance the payment. The first party agrees to advance the payment amount for the second party's shares. The second party will repay the advance to the first party through deductions from any dividends declared by the new corporation until the full amount is repaid. Until then, the shares will be considered held in trust by the first party.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    111 views2 pages

    Incorporation Agreement With One Incorporator To Advance The Payment of Shares

    Uploaded by

    Glae Adriano
    This agreement is between two parties regarding the incorporation of a new corporation. The second party intends to subscribe to shares of the new corporation but needs the first party to advance the payment. The first party agrees to advance the payment amount for the second party's shares. The second party will repay the advance to the first party through deductions from any dividends declared by the new corporation until the full amount is repaid. Until then, the shares will be considered held in trust by the first party.

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    © All Rights Reserved
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    INCORPORATION AGREEMENT WITH

    ONE INCORPORATOR TO ADVANCE


    THE PAYMENT OF SHARES

    AGREEMENT

    KNOW ALL MEN BE THESE PRESENTS:

    This Agreement is entered into by and between:


    _______________, of legal age, Filipino, (single / married / widow), and a resident of
    _____________________, Philippines, hereinafter referred to as the “First Party”;

    -and-

    ______________________, likewise of legal age, Filipino, (single / married / widow), and a


    resident of _________________, Philippines, hereinafter referred to as the “Second Party”;

    WITNESSETH; That:

    WHEREAS, the Second Party intends to subscribe ______________ (_______%)


    Percent of the initial issuance of shares of ___Name of Corporation__, a corporation that is in
    the process of incorporation and registration;

    WHEREAS, the First Party is able and willing to advance the paid-in amount of the said
    subscription intended to be made by the Second Party;

    NOW, THEREFORE, for and in consideration of the foregoing premises, Parties hereby
    agree and covenant as follows:

    1. The Second Party will be an incorporator of __Name of Corporation __, with a


    subscription of ___________ (__%) Percent of the initial issuance of shares in the said
    corporation or a total of ______________ (______) shares of the initial issuance of
    _____________ (_____) shares with a par value of ₱ ________/share and will pay up the
    amount of ₱ _______________ upon incorporation;
    2. That during the incorporation of the said corporation, the First Party shall advance
    the amount of ₱ _____________ mentioned in the immediately preceding paragraph which will
    represent the amount paid-up by the Second Party in the Articles of Incorporation and corporate
    records of ___Name of Corporation___;

    3. That the said advance to be made by the First Party shall be paid by the Second
    Party by way of deductions from dividends that may be declared and distributed in the course of
    the operation of the said corporation until fully satisfied;

    4. That before the said advance made by the First Party is fully satisfied in
    accordance with the manner provided for in the immediately preceding paragraph, the shares to
    be listed in the name of the Second Party shall be considered as merely held in-trust for the First
    Party to the extent of the amount that is not yet satisfied.

    IN WITNESS WHEREOF, we have hereunto affixed our signatures this _______ day of
    ________, 2 _____, in the City of _________________, Philippines.

    _________________________ ________________________
    FIRST PARTY SECOND PARTY

    SIGNED IN THE PRESENCE OF:

    _________________________ ________________________

    ACKNOWLEDGMENT

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