You should negotiate your Execution Deed as usual, however you will need to make the following important changes.
- Execution Deed: Insert the following additional clause:
‘The Parties expressly waive any right they may have to object that the Notices of Transfer issued by the Disposing Participant and Consents to Transfer executed by the Remaining Participants did not have a full draft of the Execution Documents attached.’
The following additional wording will be automatically populated into the online template Notice:
‘as described in this Notice of Transfer and the attached Execution Documents’ in the pro-forma Notice should be deleted and replaced with “as described in this Notice of Transfer and the Execution Documents on the Master Deed Online System (reference [ ])’.
In the last sentence of the template Consent to Transfer the following wording will be automatically updated: the words ‘attached Execution Documents’ will be replaced with ‘Execution Documents on the Master Deed Online System (reference *****).
The following wording will be automatically populated into the template Consent to Transfer:
“By signing this Consent to Transfer we expressly waive any right we may have to object that the Notice of Transfer did not have a full draft of the Execution Documents attached and agree that the Administrator shall be entitled to execute such Execution Documents notwithstanding that this Consent to Transfer did not have a full draft of the Execution Documents attached.”
- Prior to finalising your Execution Deed, notify the Administrator via the notification tab Please note that the Administrator should be provided with two weeks’ notice so that appropriate time can be afforded to processing your submission.
Finalise your Execution Deed and submit the original to the Administrator, to be uploaded on to the website, along with the following details for the parties involved in the transaction:
- company name;
- name of company’s representative; and
- email address of company’s representative.
Please note that where a representative is an external law firm the administrator will confirm such representation with the company concerned.
- The unique reference for your Execution Deed will be automatically populated in your Notice of Transfer and Consent to Transfer.