Incorporation Agreement With One Incorporator To Advance The Payment of Shares
Incorporation Agreement With One Incorporator To Advance The Payment of Shares
AGREEMENT
-and-
WITNESSETH; That:
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:
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
_________________________ ________________________
ACKNOWLEDGMENT