{"id":61593,"date":"2023-12-04T11:22:55","date_gmt":"2023-12-04T02:22:55","guid":{"rendered":"https:\/\/monolith.law\/tr\/?p=61593"},"modified":"2024-03-14T10:29:41","modified_gmt":"2024-03-14T01:29:41","slug":"representations-and-warranties-of-investment-contract","status":"publish","type":"post","link":"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract","title":{"rendered":"Yat\u0131r\u0131m S\u00f6zle\u015fmelerinde Temsil ve Garanti Maddeleri Nedir?"},"content":{"rendered":"\n<p>Yat\u0131r\u0131m s\u00f6zle\u015fmelerinde Temsil ve Garanti maddeleri (Representations and Warranties) belirlenmi\u015f olabilir. \u015eirket hukuku uygulamalar\u0131nda, \u00f6zellikle M&amp;A durumlar\u0131nda, i\u015fletme devir s\u00f6zle\u015fmeleri veya hisse devir s\u00f6zle\u015fmeleri gibi belgelerde Temsil ve Garanti maddelerinin belirlenmi\u015f olabilece\u011fini d\u00fc\u015f\u00fcn\u00fcyorum. Ayr\u0131ca, telif hakk\u0131 devir s\u00f6zle\u015fmeleri veya lisans s\u00f6zle\u015fmeleri gibi durumlarda da Temsil ve Garanti maddeleri sorun olabilir. Bu \u015fekilde, \u00e7e\u015fitli s\u00f6zle\u015fmelerle ilgili olarak sorun olabilen Temsil ve Garanti maddeleri hakk\u0131nda, bu maddelerin asl\u0131nda ne oldu\u011fu ve hukuki olarak ne anlama geldi\u011fi konusunda yeterli anlay\u0131\u015f\u0131n olmad\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyorum. Bu nedenle, bu makalede, genel olarak Temsil ve Garanti maddelerini ve yat\u0131r\u0131m s\u00f6zle\u015fmelerindeki Temsil ve Garanti maddelerini a\u00e7\u0131klamay\u0131 ama\u00e7l\u0131yorum.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/importance-and-necessity-of-investment-contract\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/importance-and-necessity-of-investment-contract[ja]<\/a><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Ifade_ve_Garanti_Maddesi_Nedir\" title=\"\u0130fade ve Garanti Maddesi Nedir?\">\u0130fade ve Garanti Maddesi Nedir?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Beyan_ve_Garanti_Maddelerinin_Anlami\" title=\"Beyan ve Garanti Maddelerinin Anlam\u0131\">Beyan ve Garanti Maddelerinin Anlam\u0131<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Ingiliz-Amerikan_Hukukunda_Beyan_ve_Garanti_Maddelerinin_Anlami\" title=\"\u0130ngiliz-Amerikan Hukukunda Beyan ve Garanti Maddelerinin Anlam\u0131\">\u0130ngiliz-Amerikan Hukukunda Beyan ve Garanti Maddelerinin Anlam\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Japon_Hukukunda_Beyan_ve_Garanti_Maddelerinin_Anlami\" title=\"Japon Hukukunda Beyan ve Garanti Maddelerinin Anlam\u0131\">Japon Hukukunda Beyan ve Garanti Maddelerinin Anlam\u0131<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Beyan_ve_Garanti_Maddelerinin_Islevi\" title=\"Beyan ve Garanti Maddelerinin \u0130\u015flevi\">Beyan ve Garanti Maddelerinin \u0130\u015flevi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Yatirim_Sozlesmelerindeki_Beyan_ve_Garanti_Maddeleri\" title=\"Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddeleri\">Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddeleri<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Yatirim_Sozlesmelerindeki_Beyan_ve_Garanti_Maddelerinin_Icerigi\" title=\"Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddelerinin \u0130\u00e7eri\u011fi\">Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddelerinin \u0130\u00e7eri\u011fi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Yatirim_Sozlesmelerindeki_Beyan_ve_Garanti_Maddelerinin_Islevi\" title=\"Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddelerinin \u0130\u015flevi\">Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddelerinin \u0130\u015flevi<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Duzgun_Inceleme_DD_Tamamlama_Islevi\" title=\"D\u00fczg\u00fcn \u0130nceleme (DD) Tamamlama \u0130\u015flevi\">D\u00fczg\u00fcn \u0130nceleme (DD) Tamamlama \u0130\u015flevi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Beyan_ve_Garanti_Maddesi_Ihlali_Icin_Cezai_Islem_Uygulama_Islevi\" title=\"Beyan ve Garanti Maddesi \u0130hlali \u0130\u00e7in Cezai \u0130\u015flem Uygulama \u0130\u015flevi\">Beyan ve Garanti Maddesi \u0130hlali \u0130\u00e7in Cezai \u0130\u015flem Uygulama \u0130\u015flevi<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Yatirim_Sozlesmelerindeki_Beyan_ve_Garanti_Maddesi_Ornegi\" title=\"Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddesi \u00d6rne\u011fi\">Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddesi \u00d6rne\u011fi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/representations-and-warranties-of-investment-contract\/#Ozet\" title=\"\u00d6zet\">\u00d6zet<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ifade_ve_Garanti_Maddesi_Nedir\"><\/span>\u0130fade ve Garanti Maddesi Nedir?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2019\/09\/shutterstock_525950377-1024x644.jpg\" alt=\"\" class=\"wp-image-5017\" \/><figcaption class=\"wp-element-caption\"> \u0130fade ve Garanti maddesinin anlam\u0131, \u0130ngiltere, Amerika ve Japonya&#8217;da nas\u0131l tan\u0131mlanmaktad\u0131r?<br><\/figcaption><\/figure>\n\n\n\n<p>\u0130fade ve Garanti maddesi, s\u00f6zle\u015fme imzalama gibi belirli bir zaman noktas\u0131nda, s\u00f6zle\u015fmenin bir taraf\u0131n\u0131n di\u011fer tarafa, s\u00f6zle\u015fme taraf\u0131yla ilgili ger\u00e7ekler, s\u00f6zle\u015fme i\u00e7eri\u011fiyle ilgili ger\u00e7ekler, s\u00f6zle\u015fmeyle ilgili ger\u00e7ekler veya i\u015f faaliyetleriyle ilgili ger\u00e7ekler gibi belirli ger\u00e7ekleri ifade etti\u011fi ve ayn\u0131 zamanda bu i\u00e7eri\u011fi garanti etti\u011fi bir maddeyi ifade eder. \u0130fade ve Garanti maddesi, aslen \u0130ngiliz-Amerikan hukukundan t\u00fcremi\u015f olup, &#8220;Representations and Warranties&#8221; olarak da adland\u0131r\u0131l\u0131r.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Beyan_ve_Garanti_Maddelerinin_Anlami\"><\/span>Beyan ve Garanti Maddelerinin Anlam\u0131<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yukar\u0131da belirtildi\u011fi gibi, beyan ve garanti maddeleri, \u0130ngiliz-Amerikan hukukundan t\u00fcremi\u015ftir. Bu nedenle, \u00f6ncelikle \u0130ngiliz-Amerikan hukukunda beyan ve garanti maddelerinin anlam\u0131n\u0131 a\u00e7\u0131klar\u0131z, ard\u0131ndan Japon hukukunda beyan ve garanti maddelerinin anlam\u0131n\u0131 a\u00e7\u0131klar\u0131z.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ingiliz-Amerikan_Hukukunda_Beyan_ve_Garanti_Maddelerinin_Anlami\"><\/span>\u0130ngiliz-Amerikan Hukukunda Beyan ve Garanti Maddelerinin Anlam\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0130ngiliz-Amerikan hukukunda beyan ve garanti maddelerinin ba\u015flang\u0131c\u0131, s\u00f6zle\u015fme taraf\u0131na yan\u0131lt\u0131c\u0131 bir yan\u0131lsama veren &#8216;yan\u0131lt\u0131c\u0131 beyan&#8217; (misrepresentation) teorisine dayanmaktad\u0131r. Yan\u0131lt\u0131c\u0131 beyanlar, s\u00f6zle\u015fme i\u00e7eri\u011fiyle do\u011frudan ilgisi olmayan ger\u00e7eklerle (s\u00f6zle\u015fmeye te\u015fvik eden ger\u00e7ekler vb.) ilgili olabilir, bu nedenle s\u00f6zle\u015fme i\u00e7eri\u011fi hakk\u0131nda her zaman yan\u0131lt\u0131c\u0131 bir beyan yap\u0131lm\u0131\u015f olmas\u0131 gerekmez. Bu nedenle, yan\u0131lt\u0131c\u0131 beyan teorisi, s\u00f6zle\u015fme y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fcn ihlali de\u011fil, doland\u0131r\u0131c\u0131l\u0131k veya hata t\u00fcr\u00fc olarak d\u00fc\u015f\u00fcn\u00fcld\u00fc ve haks\u0131z fiil \u00fczerinden telafi sa\u011flama ihtiyac\u0131 nedeniyle geli\u015ftirildi. Yan\u0131lt\u0131c\u0131 beyan yapan ki\u015finin kas\u0131t veya ihmaline bak\u0131lmaks\u0131z\u0131n, di\u011fer taraf\u0131n korunmas\u0131 ama\u00e7land\u0131. Bu durumda, yan\u0131lt\u0131c\u0131 beyanlar\u0131 s\u00f6zle\u015fme maddesine dahil ederek, yan\u0131lt\u0131c\u0131 beyan yapan taraf\u0131n garanti sorumlulu\u011fu (warranty) ta\u015f\u0131mas\u0131n\u0131 sa\u011flayan bir teori pratikte geli\u015ftirildi ve beyan ve garanti maddeleri teorisi geli\u015ftirildi.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Japon_Hukukunda_Beyan_ve_Garanti_Maddelerinin_Anlami\"><\/span>Japon Hukukunda Beyan ve Garanti Maddelerinin Anlam\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yukar\u0131da belirtilen \u0130ngiliz-Amerikan hukuku teorisi, Japon s\u00f6zle\u015fme uygulamalar\u0131na da dahil edilmeye ba\u015fland\u0131 ve M&amp;A, finansal i\u015flemler ve yat\u0131r\u0131m s\u00f6zle\u015fmeleri gibi durumlarda beyan ve garanti maddelerinin belirlendi\u011fi \u00f6rnekler artt\u0131. Japon hukukunda beyan ve garanti maddelerinin anlam\u0131 hakk\u0131nda da, temelde \u0130ngiliz-Amerikan hukukunda beyan ve garanti maddelerinin anlam\u0131yla ayn\u0131 \u015fekilde d\u00fc\u015f\u00fcn\u00fclebilir. Yani, bir s\u00f6zle\u015fmenin taraflar\u0131ndan biri, di\u011fer tarafa, belirli bir s\u00f6zle\u015fmeyle ilgili varsay\u0131msal bir ger\u00e7ek hakk\u0131nda, belirli bir zaman noktas\u0131ndaki do\u011frulu\u011fu ve kesinli\u011fi beyan eder ve bunu garanti eder anlam\u0131na gelir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Beyan_ve_Garanti_Maddelerinin_Islevi\"><\/span>Beyan ve Garanti Maddelerinin \u0130\u015flevi<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>S\u00f6zle\u015fme metninde beyan ve garanti maddeleri belirlenmi\u015f olmas\u0131na ra\u011fmen, beyan ve garantilere ayk\u0131r\u0131 bir durumun a\u00e7\u0131k\u00e7a ortaya \u00e7\u0131kmas\u0131 durumunda, bu ihlali ger\u00e7ekle\u015ftiren taraf, kas\u0131tl\u0131 ya da ihmal sonucu olu\u015fan bu ihlal i\u00e7in, zarara u\u011frayan di\u011fer taraf\u0131n zarar\u0131n\u0131 tazmin etme y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fc \u00fcstlenir.<\/p>\n\n\n\n<p>Ayr\u0131ca, beyan ve garantilere ayk\u0131r\u0131 hareket edildi\u011finde, a\u015fa\u011f\u0131daki gibi cezalar\u0131n uygulanabilece\u011fi d\u00fc\u015f\u00fcn\u00fclebilir:<\/p>\n\n\n\n<ul>\n<li> S\u00f6zle\u015fmenin feshedilmesine neden olabilir <\/li>\n\n\n\n<li>\u00d6nceden belirlenen ko\u015fullar\u0131n farkl\u0131 oldu\u011fu gerek\u00e7esiyle, di\u011fer taraf\u0131n s\u00f6zle\u015fme y\u00fck\u00fcml\u00fcl\u00fcklerini yerine getirmeyi reddetme olas\u0131l\u0131\u011f\u0131 vard\u0131r<\/li>\n\n\n\n<li>Hisse devir s\u00f6zle\u015fmesi durumunda, hisse devir bedelinin ayarlanmas\u0131na neden olabilir<\/li>\n\n\n\n<li>Para t\u00fcketim kredisi s\u00f6zle\u015fmesi durumunda, vade avantaj\u0131n\u0131n kaybedilmesine neden olabilir<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/virtual-youtuber-ma\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/virtual-youtuber-ma[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yatirim_Sozlesmelerindeki_Beyan_ve_Garanti_Maddeleri\"><\/span>Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddeleri<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Beyan ve garanti maddeleri hakk\u0131nda a\u00e7\u0131klama yapt\u0131k, ancak yat\u0131r\u0131m s\u00f6zle\u015fmeleri durumunda, s\u00f6zle\u015fmenin do\u011fas\u0131 gere\u011fi beyan ve garanti maddelerini belirlemek gerekmektedir. A\u015fa\u011f\u0131da, yat\u0131r\u0131m s\u00f6zle\u015fmelerindeki beyan ve garanti maddeleri hakk\u0131nda a\u00e7\u0131klama yapaca\u011f\u0131z.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yatirim_Sozlesmelerindeki_Beyan_ve_Garanti_Maddelerinin_Icerigi\"><\/span>Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddelerinin \u0130\u00e7eri\u011fi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yat\u0131r\u0131m s\u00f6zle\u015fmelerindeki beyan ve garanti maddelerinin i\u00e7eri\u011fi, yat\u0131r\u0131mc\u0131n\u0131n yat\u0131r\u0131m yaparken ihtiya\u00e7 duydu\u011fu \u00f6n ko\u015fullar hakk\u0131nda beyan ve garantiler verilmesi gerekti\u011fini belirtir.<\/p>\n\n\n\n<p>\u00d6zellikle, \u015firketler a\u015fa\u011f\u0131daki gibi konular hakk\u0131nda beyan ve garanti vermelidir:<\/p>\n\n\n\n<ul>\n<li>\u015eirketin yat\u0131r\u0131mc\u0131lara a\u00e7\u0131klad\u0131\u011f\u0131 mali tablolar\u0131n adil muhasebe standartlar\u0131na g\u00f6re haz\u0131rland\u0131\u011f\u0131<\/li>\n\n\n\n<li>\u015eirketin mali tablolar\u0131nda belirtilmeyen gizli bor\u00e7lar\u0131n\u0131n olmad\u0131\u011f\u0131 ve ba\u015fka \u015firketler taraf\u0131ndan dava edilmedi\u011fi<\/li>\n\n\n\n<li>Hisse senedi ihra\u00e7 i\u015flemlerinin \u015firket i\u00e7inde yasal ve etkili bir \u015fekilde ger\u00e7ekle\u015ftirildi\u011fi<\/li>\n\n\n\n<li>\u015eirketin yat\u0131r\u0131mc\u0131lara a\u00e7\u0131klad\u0131\u011f\u0131 ana s\u00f6zle\u015fme, hissedarlar listesi, i\u015f plan\u0131, tescil belgesi (kay\u0131t defteri \u00f6rne\u011fi) ve di\u011fer i\u015fletme, mali, personel vb. ile ilgili belgelerde yer alan bilgilerin en g\u00fcncel ve do\u011fru bilgileri yans\u0131tt\u0131\u011f\u0131 ve \u00f6nemli noktalar\u0131n uygun ve yeterli oldu\u011fu<\/li>\n\n\n\n<li>\u015eirketin yat\u0131r\u0131mc\u0131lara a\u00e7\u0131klad\u0131\u011f\u0131 ger\u00e7ekler d\u0131\u015f\u0131nda, yat\u0131r\u0131mc\u0131lar\u0131 \u00f6nemli \u00f6l\u00e7\u00fcde etkileyebilecek ba\u015fka ger\u00e7eklerin olmad\u0131\u011f\u0131 ve gelecekte de olmayaca\u011f\u0131<\/li>\n\n\n\n<li>\u015eirketin antisosyal g\u00fc\u00e7lerle hi\u00e7bir ger\u00e7ek ili\u015fkisi olmad\u0131\u011f\u0131<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yatirim_Sozlesmelerindeki_Beyan_ve_Garanti_Maddelerinin_Islevi\"><\/span>Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddelerinin \u0130\u015flevi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yat\u0131r\u0131m s\u00f6zle\u015fmelerindeki beyan ve garanti maddelerinin i\u015flevi a\u015fa\u011f\u0131daki gibidir:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Duzgun_Inceleme_DD_Tamamlama_Islevi\"><\/span>D\u00fczg\u00fcn \u0130nceleme (DD) Tamamlama \u0130\u015flevi<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Yat\u0131r\u0131mc\u0131lar, \u00f6zellikle yat\u0131r\u0131mc\u0131lar\u0131n risk sermayesi (VC) oldu\u011fu durumlarda, genellikle yat\u0131r\u0131m yapacaklar\u0131 \u015firketler hakk\u0131nda DD yaparlar. Ancak, DD ile ara\u015ft\u0131r\u0131labilecek alanlar\u0131n bir s\u0131n\u0131r\u0131 vard\u0131r ve ayr\u0131ca zaman ve maliyet sorunlar\u0131 da vard\u0131r. Bu nedenle, yat\u0131r\u0131mc\u0131n\u0131n DD ile tam olarak ara\u015ft\u0131ramad\u0131\u011f\u0131 konular hakk\u0131nda \u015firketin beyan ve garanti vermesi d\u00fc\u015f\u00fcn\u00fclebilir.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>D\u00fczg\u00fcn \u0130nceleme (due diligence)<\/p>\n\n\n\n<p>Yat\u0131r\u0131mc\u0131lar\u0131n yat\u0131r\u0131m yaparken veya finansal kurulu\u015flar\u0131n taahh\u00fct i\u015flemlerini ger\u00e7ekle\u015ftirirken, yat\u0131r\u0131m hedefinin de\u011ferini vb. do\u011fru bir \u015fekilde de\u011ferlendirmek amac\u0131yla, \u00f6nceden yap\u0131lan ayr\u0131nt\u0131l\u0131 bir dizi ara\u015ft\u0131rmay\u0131 ifade eder. \u015eirket sat\u0131n al\u0131mlar\u0131 veya yeniden yap\u0131land\u0131rmalar gibi durumlarda s\u0131kl\u0131kla ger\u00e7ekle\u015ftirilir. D\u00fczg\u00fcn \u0130nceleme&#8217;nin uygulanmas\u0131 sayesinde, yat\u0131r\u0131mc\u0131lar, yat\u0131r\u0131m hedefinin durumunu \u00f6nceden anlayabilir ve \u00f6rne\u011fin, \u015firket sat\u0131n al\u0131mlar\u0131nda, orada belirlenen ger\u00e7ekler \u00fczerine sat\u0131n alma fiyat\u0131 veya sat\u0131n alma ko\u015fullar\u0131 hakk\u0131nda m\u00fczakereler yap\u0131l\u0131r.<\/p>\n<cite>Kazuyuki Takahashi ve di\u011ferleri taraf\u0131ndan d\u00fczenlenen &#8220;Hukuk Bilimleri K\u00fc\u00e7\u00fck S\u00f6zl\u00fck&#8221; 963. sayfa (Yuhikaku, 5. bask\u0131, 2016)<\/cite><\/blockquote>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Beyan_ve_Garanti_Maddesi_Ihlali_Icin_Cezai_Islem_Uygulama_Islevi\"><\/span>Beyan ve Garanti Maddesi \u0130hlali \u0130\u00e7in Cezai \u0130\u015flem Uygulama \u0130\u015flevi<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Bu, temelde yukar\u0131da belirtilen beyan ve garanti maddesinin i\u015flevi ile ayn\u0131d\u0131r. Ancak, beyan ve garanti ihlalinin hukuki niteli\u011fi hakk\u0131nda, ba\u015flang\u0131\u00e7ta beyan ve garantinin, \u015firketin s\u00f6zle\u015fme y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc ta\u015f\u0131mad\u0131\u011f\u0131 i\u00e7in, bor\u00e7 ihlali sorunu olmad\u0131\u011f\u0131 g\u00f6r\u00fc\u015f\u00fc de vard\u0131r.<\/p>\n\n\n\n<p>Bu nedenle, beyan ve garanti maddesi ihlali oldu\u011funda, ihlal edenin hangi cezay\u0131 \u00f6deyece\u011fi konusu, yat\u0131r\u0131m s\u00f6zle\u015fmesinde a\u00e7\u0131k\u00e7a belirtilmelidir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yatirim_Sozlesmelerindeki_Beyan_ve_Garanti_Maddesi_Ornegi\"><\/span>Yat\u0131r\u0131m S\u00f6zle\u015fmelerindeki Beyan ve Garanti Maddesi \u00d6rne\u011fi<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2019\/09\/shutterstock_1410001031-1024x559.jpg\" alt=\"\" class=\"wp-image-5018\" \/><figcaption class=\"wp-element-caption\">Yat\u0131r\u0131m s\u00f6zle\u015fmesi imzalamadan \u00f6nce, beyan ve garanti maddelerinin i\u00e7eri\u011fini dikkatlice kontrol etmek gereklidir.<\/figcaption><\/figure>\n\n\n\n<p>Yat\u0131r\u0131m s\u00f6zle\u015fmelerindeki beyan ve garanti maddesi \u00f6rne\u011fi olarak, a\u015fa\u011f\u0131daki maddeler d\u00fc\u015f\u00fcn\u00fclebilir:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>Madde 5 (Beyan ve Garanti)<br>Yay\u0131n \u015firketi ve y\u00f6netici hissedarlar, birlikte, yat\u0131r\u0131mc\u0131lara a\u015fa\u011f\u0131daki ger\u00e7eklerin do\u011fru oldu\u011funu beyan eder ve garanti eder:<br> (1) Yay\u0131n \u015firketi, yasal olarak kurulmu\u015f ve etkin bir \u015fekilde faaliyet g\u00f6stermektedir.<br> (2) Yay\u0131n \u015firketi, bu s\u00f6zle\u015fmenin imzalanmas\u0131 ve y\u00fck\u00fcml\u00fcl\u00fcklerin yerine getirilmesi ve bu s\u00f6zle\u015fmeye dayal\u0131 olarak hisse senedi \u00e7\u0131kar\u0131lmas\u0131 i\u00e7in gerekli yetenek ve yetkiye sahiptir, hisse senedi \u00e7\u0131kar\u0131lmas\u0131 i\u00e7in gerekli t\u00fcm i\u00e7 prosed\u00fcrler tamamlanm\u0131\u015ft\u0131r ve bu s\u00f6zle\u015fmenin imzalanmas\u0131 ve yerine getirilmesi ve hisse senedi \u00e7\u0131kar\u0131lmas\u0131, yasalar, y\u00f6netmelikler, kurallar, tebli\u011fler, yay\u0131n \u015firketinin t\u00fcz\u00fc\u011f\u00fc veya di\u011fer t\u00fcm kurallar veya kendisinin taraf oldu\u011fu s\u00f6zle\u015fmelere ayk\u0131r\u0131 de\u011fildir ve bu s\u00f6zle\u015fmenin imzalanmas\u0131 ve yerine getirilmesi ve hisse senedi \u00e7\u0131kar\u0131lmas\u0131 i\u00e7in gerekli izinler, bildirimler vb. prosed\u00fcrler gerekti\u011finde, bu prosed\u00fcrler tamamlanm\u0131\u015ft\u0131r.<br> (3) Yay\u0131n \u015firketinin i\u015fletme faaliyetleri yasal ve d\u00fczg\u00fcn bir \u015fekilde y\u00fcr\u00fct\u00fclmektedir ve i\u015fletme faaliyetleri i\u00e7in lisans, izin ve onay, kay\u0131t ve bildirim gerekti\u011finde, bunlar d\u00fczg\u00fcn bir \u015fekilde ger\u00e7ekle\u015ftirilmi\u015ftir.<br> (4) Yay\u0131n \u015firketi taraf\u0131ndan \u00e7\u0131kar\u0131lan hisse senetlerinin [ve yeni hisse senedi opsiyonlar\u0131n\u0131n] i\u00e7eri\u011fi, yay\u0131n \u015firketinin yat\u0131r\u0131mc\u0131lara sundu\u011fu belgelerle ayn\u0131d\u0131r.<br> (5) Yay\u0131n \u015firketi hakk\u0131nda hukuki i\u015flemler, i\u015f\u00e7i anla\u015fmazl\u0131klar\u0131 veya idari veya vergi i\u015flemleri \u015fu anda devam etmiyor ve bu t\u00fcr bir risk de yoktur.<br> (6) Yay\u0131n \u015firketi&#8217;nin i\u015f plan\u0131, mali tablolar\u0131, potansiyel hissedarlar\u0131n durumu, di\u011fer i\u015fletme, mali, personel vb. ile ilgili yay\u0131n \u015firketi taraf\u0131ndan yat\u0131r\u0131mc\u0131lara sunulan, teslim edilen belgelerin ve bilgilerin do\u011fru ve kesin oldu\u011fu.<br> (7) Yay\u0131n \u015firketi, ge\u00e7mi\u015fte ve \u015fu anda yasal olarak vergi beyannamesi olu\u015fturmu\u015f, sunmu\u015ftur ve \u00f6denmesi gereken vergi borcu, gecikme vb. durumlar yoktur.<br> (8) Yay\u0131n \u015firketi&#8217;nin ilgili taraflar\u0131 (\u015eirket Hesaplama Kurallar\u0131 Madde 112, F\u0131kra 4&#8217;te tan\u0131mlanm\u0131\u015ft\u0131r) veya hissedarlar\u0131, s\u00f6zde antisosyal g\u00fc\u00e7ler veya bunlara benzer ki\u015filer (bundan sonra &#8220;antisosyal g\u00fc\u00e7ler vb.&#8221; olarak an\u0131lacakt\u0131r) de\u011fildir, antisosyal g\u00fc\u00e7lere veya bunlara benzer ki\u015filere finansal destek veya benzeri eylemler arac\u0131l\u0131\u011f\u0131yla, antisosyal g\u00fc\u00e7lerin vb. s\u00fcrd\u00fcr\u00fclmesi, i\u015fletilmesine yard\u0131mc\u0131 olmam\u0131\u015f veya kat\u0131lmam\u0131\u015ft\u0131r, veya antisosyal g\u00fc\u00e7lerle vb. ili\u015fkisi yoktur.<\/p>\n<cite>Genel Dernek Bilgisayar Yaz\u0131l\u0131m\u0131 Derne\u011fi, &#8220;Yat\u0131r\u0131m S\u00f6zle\u015fmesi \u00d6rne\u011fi &#8211; Seed Round (Rekabetten Ka\u00e7\u0131nma Y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc Yok)&#8221;, https:\/\/www.csaj.jp\/documents\/activity\/project\/startup\/Contractsample_3-1.pdf, (06.09.2019)<\/cite><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ozet\"><\/span>\u00d6zet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yukar\u0131da, yat\u0131r\u0131m s\u00f6zle\u015fmelerindeki temsil ve garanti maddeleri hakk\u0131nda a\u00e7\u0131klamalar yapt\u0131k. Yat\u0131r\u0131m yapman\u0131n \u00f6n ko\u015fulu, \u015firketler i\u00e7in yat\u0131r\u0131m alman\u0131n ve yat\u0131r\u0131mc\u0131lar i\u00e7in yat\u0131r\u0131m yapman\u0131n \u00f6nemli bir unsuru olup, yat\u0131r\u0131m s\u00f6zle\u015fmesi yap\u0131l\u0131rken temsil ve garanti maddelerinin i\u00e7eri\u011fini dikkatlice g\u00f6zden ge\u00e7irmeniz gerekmektedir. Ayr\u0131ca, yat\u0131r\u0131m s\u00f6zle\u015fmelerindeki temsil ve garanti maddeleri, \u015firketin zaten a\u00e7\u0131klad\u0131\u011f\u0131 bilgiler, yat\u0131r\u0131mc\u0131n\u0131n yapt\u0131\u011f\u0131 DD i\u00e7eri\u011fi, yat\u0131r\u0131m s\u00f6zle\u015fmesinin i\u00e7eri\u011fi vb. gibi fakt\u00f6rlere ba\u011fl\u0131 olarak de\u011fi\u015fiklik g\u00f6sterir ve temsil ve garanti maddelerinin i\u00e7eri\u011fi standartla\u015fm\u0131\u015f bir \u015fey de\u011fildir. Bu nedenle, her zaman bir uzman olan avukat taraf\u0131ndan haz\u0131rlanmas\u0131n\u0131 veya avukat taraf\u0131ndan hukuki kontrol\u00fcn yap\u0131lmas\u0131n\u0131 sa\u011flay\u0131n.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yat\u0131r\u0131m s\u00f6zle\u015fmelerinde Temsil ve Garanti maddeleri (Representations and Warranties) belirlenmi\u015f olabilir. \u015eirket hukuku uygulamalar\u0131nda, \u00f6zellikle M&amp;A durumlar\u0131nda, i\u015fletme devir s\u00f6zle\u015fmeleri vey [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":63371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,28],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61593"}],"collection":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/comments?post=61593"}],"version-history":[{"count":3,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61593\/revisions"}],"predecessor-version":[{"id":63372,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61593\/revisions\/63372"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media\/63371"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media?parent=61593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/categories?post=61593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/tags?post=61593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}