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单词 entity purchase agreement
释义

entity purchase agreement

Definition
A method used in business succession planning whereby if a company consists of more than just one owner, it will purchase life insurance policies on the lives of all such owners for the amount of interest held by each. Should one of these owners pass away, the proceeds from this life insurance policy will be used to pay the estate of the deceased owner for his or her percentage share of the business.
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更新时间:2025/5/9 2:00:07