Letter of Direction Payment of Acquisition Price

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date and Addressee

{{date}}

{{escrow_agent_or_bank_name}}

{{escrow_agent_or_bank_address}}

Attention: {{attention_person_title}}

Subject

**Letter of Direction: Payment of Acquisition Price for {{acquired_company_name}}**

Introduction

Dear {{attention_person_title}},

This letter serves as a formal instruction to you, in your capacity as {{escrow_agent_or_bank_role}}, regarding the disbursement of the acquisition price as per the Sale and Purchase Agreement dated {{agreement_date}} (the “Agreement”) between {{purchaser_company_name}} (the “Purchaser”) and {{seller_company_name}} (the “Seller”) concerning the acquisition of {{acquired_company_name}} (the “Acquired Company”).

Instruction for Disbursement

In accordance with the terms of the Agreement, we hereby irrevocably instruct you to disburse the total acquisition price of {{currency}} {{total_acquisition_price}} ({{total_acquisition_price_words}} Rand) in the following manner and to the following beneficiaries, upon satisfaction of all conditions precedent as stipulated in the Agreement:

1. **To the Seller ({{seller_company_name}}):**

Amount: {{currency}} {{seller_payment_amount}}

Bank Name: {{seller_bank_name}}

Account Name: {{seller_account_name}}

Account Number: {{seller_account_number}}

Branch Code: {{seller_branch_code}}

SWIFT/BIC Code: {{seller_swift_code}}

Reference: {{seller_payment_reference}}

2. **To {{other_beneficiary_name}} (if applicable):**

Amount: {{currency}} {{other_beneficiary_payment_amount}}

Bank Name: {{other_beneficiary_bank_name}}

Account Name: {{other_beneficiary_account_name}}

Account Number: {{other_beneficiary_account_number}}

Branch Code: {{other_beneficiary_branch_code}}

SWIFT/BIC Code: {{other_beneficiary_swift_code}}

Reference: {{other_beneficiary_payment_reference}}

*(Add additional beneficiaries as required following the same format)*

Conditions for Disbursement

You are authorised and directed to proceed with these disbursements only upon your receipt of written confirmation from {{legal_advisors_name}} acting on behalf of the Purchaser, confirming that all conditions precedent to the payment under the Agreement have been satisfied or waived in accordance with the Agreement.

Indemnity and Release

The Purchaser hereby indemnifies and holds harmless {{escrow_agent_or_bank_name}} and its officers, directors, employees, and agents from and against any and all claims, liabilities, losses, damages, costs, and expenses (including reasonable legal fees) arising out of or in connection with its compliance with the instructions contained in this Letter of Direction, provided that such compliance is in good faith and without gross negligence or wilful misconduct.

Governing Law

This Letter of Direction shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}}.

Counterparts

This Letter of Direction may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

Acknowledgement

Please acknowledge receipt of this instruction and confirm your agreement to act in accordance with the terms hereunder by signing and returning a copy of this letter.

Signature Block

Yours faithfully,

_____________________________

{{authorised_signatory_name}}

{{authorised_signatory_title}}

For and on behalf of {{purchaser_company_name}}

**Acknowledged and Agreed by:**

_____________________________

{{escrow_agent_or_bank_signatory_name}}

{{escrow_agent_or_bank_signatory_title}}

For and on behalf of {{escrow_agent_or_bank_name}}

Date: {{acknowledgement_date}}