Bulk Sales Clause in a Purchase and Sale Agreement (Commercial Real Estate) (Pro-Purchaser) (IL) | Practical Law

Bulk Sales Clause in a Purchase and Sale Agreement (Commercial Real Estate) (Pro-Purchaser) (IL) | Practical Law

A Standard Clause favoring the purchaser for Illinois commercial real estate purchase and sale agreements. This Illinois state-specific clause may be used when the transaction involves the seller's transfer of a major part of its real estate outside of the ordinary course of business under Illinois bulk sales laws. This Clause has integrated notes with important explanations and drafting and negotiating tips for both purchasers and sellers.

Bulk Sales Clause in a Purchase and Sale Agreement (Commercial Real Estate) (Pro-Purchaser) (IL)

by Practical Law Real Estate
MaintainedIllinois
A Standard Clause favoring the purchaser for Illinois commercial real estate purchase and sale agreements. This Illinois state-specific clause may be used when the transaction involves the seller's transfer of a major part of its real estate outside of the ordinary course of business under Illinois bulk sales laws. This Clause has integrated notes with important explanations and drafting and negotiating tips for both purchasers and sellers.