{"id":61646,"date":"2023-12-04T11:22:56","date_gmt":"2023-12-04T02:22:56","guid":{"rendered":"https:\/\/monolith.law\/tr\/?p=61646"},"modified":"2024-03-20T14:04:34","modified_gmt":"2024-03-20T05:04:34","slug":"ma-lawyer-basic-agreement","status":"publish","type":"post","link":"https:\/\/monolith.law\/tr\/general-corporate\/ma-lawyer-basic-agreement","title":{"rendered":"M&amp;A S\u00f6zle\u015fmelerinde Temel Anla\u015fma Belgesinin Hukuki Etkisi"},"content":{"rendered":"\n<p>M&amp;A i\u015flemleri ile ilgili s\u00f6zle\u015fmeler, al\u0131c\u0131 ve sat\u0131c\u0131 aras\u0131ndaki m\u00fczakere a\u015famas\u0131na ba\u011fl\u0131 olarak farkl\u0131 t\u00fcrlerde d\u00fczenlenir.<\/p>\n\n\n\n<p>Bu makalede, M&amp;A i\u015flemlerini d\u00fc\u015f\u00fcnen al\u0131c\u0131 ve sat\u0131c\u0131 \u015firketlerin m\u00fczakere a\u015famas\u0131nda s\u0131kl\u0131kla imzalad\u0131klar\u0131 temel anla\u015fma belgeleri hakk\u0131nda bilgi verilecektir.<\/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\/ma-lawyer-basic-agreement\/#Temel_Anlasma_Belgesi_Nedir\" title=\"Temel Anla\u015fma Belgesi Nedir?\">Temel Anla\u015fma Belgesi 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\/ma-lawyer-basic-agreement\/#Temel_Anlasma_Metni_Maddeleri\" title=\"Temel Anla\u015fma Metni Maddeleri\">Temel Anla\u015fma Metni Maddeleri<\/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\/ma-lawyer-basic-agreement\/#Islem_Icerigi\" title=\"\u0130\u015flem \u0130\u00e7eri\u011fi\">\u0130\u015flem \u0130\u00e7eri\u011fi<\/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\/ma-lawyer-basic-agreement\/#Gecerlilik_Suresi\" title=\"Ge\u00e7erlilik S\u00fcresi\">Ge\u00e7erlilik S\u00fcresi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/ma-lawyer-basic-agreement\/#Tek_Trafikli_Muzakere_Hakki\" title=\"Tek Trafikli M\u00fczakere Hakk\u0131\">Tek Trafikli M\u00fczakere Hakk\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/ma-lawyer-basic-agreement\/#Beyan_ve_Garanti\" title=\"Beyan ve Garanti\">Beyan ve Garanti<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/ma-lawyer-basic-agreement\/#DD%E2%80%99ye_Isbirligi\" title=\"DD&#8217;ye \u0130\u015fbirli\u011fi\">DD&#8217;ye \u0130\u015fbirli\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\/ma-lawyer-basic-agreement\/#Iyi_Yonetim_Sorumlulugu\" title=\"\u0130yi Y\u00f6netim Sorumlulu\u011fu\">\u0130yi Y\u00f6netim Sorumlulu\u011fu<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/ma-lawyer-basic-agreement\/#Hukuki_Baglayicilik\" title=\"Hukuki Ba\u011flay\u0131c\u0131l\u0131k\">Hukuki Ba\u011flay\u0131c\u0131l\u0131k<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/ma-lawyer-basic-agreement\/#Gizlilik\" title=\"Gizlilik\">Gizlilik<\/a><\/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\/ma-lawyer-basic-agreement\/#Ozet\" title=\"\u00d6zet\">\u00d6zet<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Temel_Anlasma_Belgesi_Nedir\"><\/span>Temel Anla\u015fma Belgesi Nedir?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Temel anla\u015fma belgesi, ayr\u0131ca bir an\u0131msatma olarak adland\u0131r\u0131l\u0131r, Letter of Intent (LOI) veya Memorandum of Understanding (MOU) olarak da bilinir.<\/p>\n\n\n\n<p>M&amp;A i\u015flemlerinin t\u00fcrleri ve gereken s\u00f6zle\u015fmeler her duruma g\u00f6re de\u011fi\u015fir ve ayn\u0131 zamanda temel anla\u015fma belgesinde belirlenen i\u00e7erik de de\u011fi\u015fir. Genel olarak, hisse senedi al\u0131m\u0131, i\u015fletme devri ve organizasyon yeniden yap\u0131land\u0131rmas\u0131 gibi y\u00f6ntemler vard\u0131r. Hisse senedi al\u0131m\u0131nda, kar\u015f\u0131l\u0131kl\u0131 i\u015flemlerle hisse senedi devri, halka a\u00e7\u0131k tekliflerle hisse senedi devri ve \u00fc\u00e7\u00fcnc\u00fc taraf tahsisi gibi y\u00f6ntemler bulunur. Organizasyon yeniden yap\u0131land\u0131rma, birle\u015fme, hisse senedi de\u011fi\u015fimi ve hisse senedi transferi, \u015firket b\u00f6l\u00fcnmesi gibi y\u00f6ntemleri i\u00e7erir. Ayr\u0131ca, \u015firket b\u00f6l\u00fcnmesi ve hisse senedi devrini birle\u015ftiren y\u00f6ntemler ve halka a\u00e7\u0131k teklifler ve hisse senedi de\u011fi\u015fimini birle\u015ftiren y\u00f6ntemler de vard\u0131r.<\/p>\n\n\n\n<p>Bu \u015fekilde, M&amp;A i\u015flemleri olduk\u00e7a \u00e7e\u015fitlidir ve sonu\u00e7ta imzalanan s\u00f6zle\u015fmalar\u0131n k\u00f6pr\u00fcs\u00fc olarak i\u015flev g\u00f6ren temel anla\u015fma belgesinin i\u00e7eri\u011fi de plana g\u00f6re de\u011fi\u015fir.<\/p>\n\n\n\n<p>Temel anla\u015fma belgesinin anlam\u0131, s\u00f6zle\u015fme taraflar\u0131n\u0131 son s\u00f6zle\u015fmeyi imzalamak i\u00e7in te\u015fvik etmek, \u00f6nemli konularda anla\u015fma olu\u015fturmak, i\u015flem i\u00e7eri\u011fini netle\u015ftirmek ve tekel m\u00fczakere haklar\u0131n\u0131 sa\u011flamak gibi noktalardad\u0131r.<\/p>\n\n\n\n<p>Genellikle, hedef \u015firketin incelemesi ve denetimi, yani s\u00f6zde due diligence (bu makalede genellikle &#8220;DD&#8221; olarak belirtilir) a\u015famas\u0131 ger\u00e7ekle\u015ftirilmeden \u00f6nce ge\u00e7ici olarak anla\u015f\u0131lan konular\u0131 belirler. Bu nedenle, i\u00e7erik de\u011fi\u015fikli\u011fi \u00f6ng\u00f6r\u00fclerek olu\u015fturulur. Bu nedenle, \u00e7e\u015fitli maddelerde, baz\u0131 maddeler d\u0131\u015f\u0131nda, genellikle hukuki ba\u011flay\u0131c\u0131l\u0131k sa\u011flanmaz.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Temel_Anlasma_Metni_Maddeleri\"><\/span>Temel Anla\u015fma Metni Maddeleri<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\/2020\/08\/ma-lawyer-basic-agreement2.jpg\" alt=\"\" class=\"wp-image-16239\" \/><\/figure>\n\n\n\n<p>Temel anla\u015fma metninin ana maddeleri genellikle i\u015flem i\u00e7eri\u011fi, tekel m\u00fczakere hakk\u0131, beyan ve garanti, DD&#8217;ye (Due Diligence &#8211; Gerekli \u00d6zen) i\u015fbirli\u011fi vb. konular\u0131 i\u00e7erir. Son anla\u015fmada hisse devir s\u00f6zle\u015fmesi yap\u0131lmas\u0131 durumunu varsayarak temel anla\u015fma metni maddelerini a\u00e7\u0131kl\u0131yoruz.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Islem_Icerigi\"><\/span>\u0130\u015flem \u0130\u00e7eri\u011fi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Madde 1 (S\u00f6zle\u015fme Ko\u015fullar\u0131)<br>1. A ve B, A&#8217;n\u0131n sahip oldu\u011fu hedef \u015firket (C)&#8217;nin \u00e7\u0131kar\u0131lm\u0131\u015f t\u00fcm hisselerini (bundan sonra &#8220;ilgili hisseler&#8221; olarak an\u0131lacakt\u0131r.) kapsayan hisse devri (bundan sonra &#8220;ilgili hisse devri&#8221; olarak an\u0131lacakt\u0131r.) konusunda, A&#8217;n\u0131n ilgili hisseleri B&#8217;ye devretmesi ve B&#8217;nin bunlar\u0131 A&#8217;dan kabul etmesi i\u00e7eri\u011findeki hisse devir s\u00f6zle\u015fmesini (bundan sonra &#8220;nihai s\u00f6zle\u015fme&#8221; olarak an\u0131lacakt\u0131r.) imzalamak \u00fczere samimi bir \u015fekilde m\u00fczakere edeceklerini kabul etmi\u015ftir.<br>2. \u0130lgili hisselerin devir bedelinin toplam\u0131, XX Yen olarak belirlenmi\u015ftir. Ancak, resmi ilgili hisse devir bedelinin toplam\u0131, nihai s\u00f6zle\u015fme s\u0131ras\u0131nda belirlenecektir.<\/p>\n\n\n\n<p>\u0130\u015flemin konusu, \u015fema i\u00e7eri\u011fi (hisse devri, birle\u015fme, \u015firket b\u00f6l\u00fcnmesi vb. M&amp;A y\u00f6ntemleri), i\u015flem fiyat\u0131 vb. h\u00fck\u00fcmlerini belirler.<\/p>\n\n\n\n<p>Temel anla\u015fma belgesinde belirlenen i\u00e7erik, m\u00fczakere a\u015famas\u0131na ba\u011fl\u0131 olarak de\u011fi\u015fir, bu nedenle i\u00e7erik, sonraki m\u00fczakereler sonucunda de\u011fi\u015fiklik yap\u0131lmas\u0131 \u00f6ng\u00f6r\u00fclerek veya nihai anla\u015fmaya yak\u0131n bir i\u00e7erikle belirlenebilir.<\/p>\n\n\n\n<p>\u00d6zellikle sat\u0131n alma fiyat\u0131 konusunda, genellikle yasal olarak ba\u011flay\u0131c\u0131 bir \u015fekilde anla\u015fma yap\u0131lmadan belirlenir ve nihai sat\u0131n alma fiyat\u0131, \u00f6nceden resmi fiyat\u0131n nihai s\u00f6zle\u015fme s\u0131ras\u0131nda belirlenece\u011fi belirtilir veya belirli durumlarda (\u00f6rne\u011fin, DD&#8217;nin uygulanmas\u0131n\u0131n ard\u0131ndan sat\u0131n alma fiyat\u0131n\u0131 etkileyen yeni \u00f6nemli bir durumun ke\u015ffedilmesi durumunda) d\u00fczeltme yap\u0131labilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Gecerlilik_Suresi\"><\/span>Ge\u00e7erlilik S\u00fcresi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Madde 2 (Ge\u00e7erlilik S\u00fcresi)<br>Bu anla\u015fman\u0131n ge\u00e7erlilik s\u00fcresi, anla\u015fman\u0131n imzaland\u0131\u011f\u0131 tarihten itibaren Reiwa \u3007 y\u0131l\u0131 \u3007 ay \u3007 g\u00fcn\u00fcne (Gregorian takvimine g\u00f6re \u3007 y\u0131l\u0131 \u3007 ay \u3007 g\u00fcn\u00fcne) kadar olacakt\u0131r. Ancak, taraflar aras\u0131nda bu anla\u015fman\u0131n ge\u00e7erlilik s\u00fcresinin yaz\u0131l\u0131 olarak uzat\u0131lmas\u0131na karar verilirse, bu durum kabul edilecektir.<\/p>\n\n\n\n<p>Temel anla\u015fman\u0131n etkinli\u011finin kabul edildi\u011fi s\u00fcreyi belirler. Genellikle, bu s\u00fcre 3 ila 6 ay aras\u0131nda olmas\u0131 s\u0131k\u00e7a g\u00f6r\u00fcl\u00fcr.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tek_Trafikli_Muzakere_Hakki\"><\/span>Tek Trafikli M\u00fczakere Hakk\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/08\/ma-lawyer-basic-agreement4.jpg\" alt=\"\" class=\"wp-image-16242\" \/><\/figure>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Madde 3 (Tek Trafikli M\u00fczakere Hakk\u0131)<br>1 Bug\u00fcnden itibaren \u25cf y\u0131l \u25cf ay \u25cf g\u00fcn\u00fcne kadar, A, B d\u0131\u015f\u0131ndaki \u00fc\u00e7\u00fcnc\u00fc taraflarla, bu i\u015flemle benzer i\u015flemler hakk\u0131nda her t\u00fcrl\u00fc m\u00fczakere, anla\u015fma ve s\u00f6zle\u015fmeyi yapmayaca\u011f\u0131n\u0131 garanti eder.<br>2 Yukar\u0131daki h\u00fckme ra\u011fmen, A&#8217;n\u0131n \u00fc\u00e7\u00fcnc\u00fc taraflardan bu i\u015flemle benzer bir i\u015flem teklifi almas\u0131 ve bu teklife yan\u0131t vermemenin A&#8217;n\u0131n y\u00f6netim kurulu \u00fcyelerinin dikkatli y\u00f6netim y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcne ayk\u0131r\u0131 olma olas\u0131l\u0131\u011f\u0131n\u0131n y\u00fcksek oldu\u011fu makul bir \u015fekilde de\u011ferlendirilirse, A, B&#8217;ye bir tazminat olarak belirli bir miktar \u00f6deyerek \u00fc\u00e7\u00fcnc\u00fc taraflarla m\u00fczakere edebilir.<\/p>\n\n\n\n<p>Temel anla\u015fmada, sat\u0131c\u0131 taraf\u0131ndan al\u0131c\u0131 aday\u0131na tek tarafl\u0131 m\u00fczakere hakk\u0131 verilebilir. Tersine, al\u0131c\u0131 taraf\u0131n\u0131n belirlemesi veya di\u011fer al\u0131c\u0131 adaylar\u0131na bilgi sa\u011flama hakk\u0131 da olabilir ve belirlenen i\u00e7erik, taraflar aras\u0131ndaki g\u00fc\u00e7 ili\u015fkisine ba\u011fl\u0131 olarak de\u011fi\u015fir.<\/p>\n\n\n\n<p>Al\u0131c\u0131 taraf\u0131ndan bak\u0131ld\u0131\u011f\u0131nda, sonraki DD, y\u00f6netim m\u00fclakatlar\u0131 vb. belirli bir s\u00fcre boyunca yo\u011funla\u015facak \u015fekilde ger\u00e7ekle\u015ftirilecektir. Bu nedenle, sat\u0131c\u0131n\u0131n di\u011fer al\u0131c\u0131 adaylar\u0131yla m\u00fczakereye ge\u00e7me riskini azaltmak i\u00e7in, al\u0131c\u0131 taraf genellikle kendine avantaj sa\u011flayan tek tarafl\u0131 m\u00fczakere hakk\u0131n\u0131 talep eder.<\/p>\n\n\n\n<p>\u00d6te yandan, sat\u0131c\u0131 taraf\u0131ndan bak\u0131ld\u0131\u011f\u0131nda, en avantajl\u0131 \u015fartlar\u0131 sunan al\u0131c\u0131 aday\u0131yla m\u00fczakere yapmay\u0131 umar ve tek tarafl\u0131 m\u00fczakere hakk\u0131 verme konusunda dikkatli olur. Bu nedenle, temel anla\u015fmada tek tarafl\u0131 m\u00fczakere hakk\u0131 belirlenmi\u015f olsa bile, sat\u0131c\u0131 taraf\u0131n\u0131n talebi \u00fczerine genellikle 3 ila 6 ay s\u00fcre verilir.<\/p>\n\n\n\n<p>Dahas\u0131, sat\u0131c\u0131 taraf\u0131na avantaj sa\u011flayan bir h\u00fck\u00fcm olarak, daha uygun bir al\u0131c\u0131 aday\u0131na sat\u0131\u015f f\u0131rsat\u0131n\u0131 art\u0131rmak i\u00e7in tek tarafl\u0131 m\u00fczakere hakk\u0131n\u0131n istisnas\u0131n\u0131 belirlemek m\u00fcmk\u00fcnd\u00fcr. Bu, sat\u0131c\u0131n\u0131n en uygun sat\u0131\u015f noktas\u0131n\u0131 se\u00e7me f\u0131rsat\u0131n\u0131 korumak ve sat\u0131c\u0131 y\u00f6netim kurulu \u00fcyelerinin dikkatli y\u00f6netim y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fc ihlal etmemek i\u00e7in gereklidir. Bu t\u00fcr h\u00fck\u00fcmler Fiduciary out h\u00fck\u00fcmleri olarak da adland\u0131r\u0131l\u0131r.<\/p>\n\n\n\n<p>Al\u0131c\u0131 taraf\u0131 olarak, istisna h\u00fckm\u00fcn\u00fcn kolayca uygulanmas\u0131 durumunda, DD vb. i\u00e7in harcanan zaman ve para bo\u015fa gidebilir. Bu nedenle, sat\u0131c\u0131 taraf\u0131n\u0131n istisnay\u0131 uygulamas\u0131 durumunda, istisna h\u00fckm\u00fcn\u00fcn uygulanmas\u0131 durumunda al\u0131c\u0131 tarafa belirli bir miktar (tazminat) \u00f6deme y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc belirlenebilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Beyan_ve_Garanti\"><\/span>Beyan ve Garanti<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Madde 4 (Beyan ve Garanti)<br>A, B&#8217;ye kar\u015f\u0131, bu anla\u015fman\u0131n yap\u0131ld\u0131\u011f\u0131 anda, a\u015fa\u011f\u0131daki i\u00e7eri\u011fin do\u011fru ve kesin oldu\u011funu beyan eder ve garanti eder.<br>(1) Sat\u0131c\u0131 (A) ile ilgili beyan ve garanti<br>A\u3000A, Japon hukukuna g\u00f6re yasal ve etkin bir \u015fekilde kurulmu\u015f ve etkin bir \u015fekilde devam eden bir \u015firkettir.<br>B\u3000A, \u00f6deme yapamaz durumda de\u011fildir, A&#8217;ya kar\u015f\u0131 iflas prosed\u00fcr\u00fc ba\u015flatma talebi yap\u0131lmam\u0131\u015ft\u0131r ve bu duruma yol a\u00e7acak bir sebep de bulunmamaktad\u0131r.<br>C\u3000A, ilgili hisseleri tamamen yasal ve etkin bir \u015fekilde tutmaktad\u0131r.<br>D\u3000A, antisosyal bir g\u00fc\u00e7 de\u011fildir. A ile antisosyal g\u00fc\u00e7ler aras\u0131nda, do\u011frudan veya dolayl\u0131 olarak, i\u015flem, para \u00f6demesi, fayda sa\u011flama veya ba\u015fka bir ili\u015fki veya etkile\u015fim yoktur. A&#8217;da, antisosyal g\u00fc\u00e7lere ait bir ki\u015fi y\u00f6netici veya \u00e7al\u0131\u015fan olarak atanm\u0131\u015f de\u011fildir. <br>(2) Hedef \u015firket (C) ile ilgili beyan ve garanti<br>A\u3000C, Japon hukukuna g\u00f6re yasal ve etkin bir \u015fekilde kurulmu\u015f ve etkin bir \u015fekilde devam eden bir \u015firkettir.<br>B\u3000C, \u00f6deme yapamaz durumda de\u011fildir, C&#8217;ye kar\u015f\u0131 iflas prosed\u00fcr\u00fc ba\u015flatma talebi yap\u0131lmam\u0131\u015ft\u0131r ve bu duruma yol a\u00e7acak bir sebep de bulunmamaktad\u0131r.<br>C\u3000C&#8217;nin toplam hisse say\u0131s\u0131 X hissedir ve toplam \u00e7\u0131kar\u0131lm\u0131\u015f hisse say\u0131s\u0131 Y hissedir. Bunlar\u0131n hepsi yasal ve etkin bir \u015fekilde \u00e7\u0131kar\u0131lm\u0131\u015f olan adi hisselerdir. C, bu hisseler d\u0131\u015f\u0131nda hisse veya haklar\u0131 \u00e7\u0131karmam\u0131\u015f veya vermemi\u015ftir, \u00fc\u00e7\u00fcnc\u00fc bir taraf\u0131n haklar\u0131 bulunmamaktad\u0131r.<br>D\u3000C, y\u00f6neticilerine veya \u00e7al\u0131\u015fanlar\u0131na kar\u015f\u0131 t\u00fcm maa\u015f veya \u00fccret, para vb. \u00f6deme y\u00fck\u00fcml\u00fcl\u00fcklerini yerine getirmi\u015ftir, \u00f6denmemi\u015f maa\u015f veya \u00fccret bulunmamaktad\u0131r.<br>E\u3000C&#8217;ye kar\u015f\u0131 \u00fc\u00e7\u00fcnc\u00fc bir taraf\u00e7a a\u00e7\u0131lan dava bulunmamaktad\u0131r ve bu durumun olu\u015fma riski de bulunmamaktad\u0131r.<br>F\u3000C, antisosyal bir g\u00fc\u00e7 de\u011fildir. C ile antisosyal g\u00fc\u00e7ler aras\u0131nda, do\u011frudan veya dolayl\u0131 olarak, i\u015flem, para \u00f6demesi, fayda sa\u011flama veya ba\u015fka bir ili\u015fki veya etkile\u015fim yoktur. C&#8217;de, antisosyal g\u00fc\u00e7lere ait bir ki\u015fi y\u00f6netici veya \u00e7al\u0131\u015fan olarak atanm\u0131\u015f de\u011fildir.<\/p>\n\n\n\n<p>Taraflar\u0131n biri, belirli bir zaman noktas\u0131ndaki durumun do\u011fru ve kesin oldu\u011funu di\u011fer tarafa beyan eder ve garanti eder.<\/p>\n\n\n\n<p>Beyan ve garanti maddeleri, hisse devir s\u00f6zle\u015fmeleri gibi nihai s\u00f6zle\u015fme a\u015famas\u0131nda DD&#8217;ye dayanarak daha ayr\u0131nt\u0131l\u0131 bir \u015fekilde belirlenir. Yukar\u0131daki maddelerin d\u0131\u015f\u0131nda, fikri m\u00fclkiyet haklar\u0131, hesap belgeleri, gayrimenkul, ta\u015f\u0131n\u0131r mallar, fikri m\u00fclkiyet haklar\u0131, varl\u0131klar, alacaklar, imzalanan s\u00f6zle\u015fmeler, personel i\u015fleri, kamu kira ve vergiler, emeklilik, sigorta vb. konular\u0131 kapsar. Temel anla\u015fma a\u015famas\u0131nda belirtilmeyebilir, ancak DD&#8217;ye i\u015fbirli\u011fi maddesi dahil olmak \u00fczere di\u011fer taraf\u0131n aktif bilgi payla\u015f\u0131m\u0131n\u0131 beklemek anlam\u0131nda, genellikle temel anla\u015fma a\u015famas\u0131nda belirtilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DD%E2%80%99ye_Isbirligi\"><\/span>DD&#8217;ye \u0130\u015fbirli\u011fi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Madde 5 (Due Diligence)<br> B Taraf\u0131, bu temel anla\u015fman\u0131n imzaland\u0131\u011f\u0131 tarihten itibaren belirli bir s\u00fcre boyunca, C Taraf\u0131na, B Taraf\u0131 ve B Taraf\u0131n\u0131n atad\u0131\u011f\u0131 avukatlar, sertifikal\u0131 muhasebeciler ve benzeri ki\u015filerin bir inceleme (bundan sonra &#8220;Due Diligence&#8221; olarak an\u0131lacakt\u0131r.) yapabilece\u011fini kabul eder ve A ve C Taraflar, i\u015fletme faaliyetlerini aksatmayacak \u00f6l\u00e7\u00fcde bu konuda i\u015fbirli\u011fi yaparlar.<\/p>\n\n\n\n<p>Bu madde, DD&#8217;nin kapsam\u0131 ve i\u015fbirli\u011fi y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fcn i\u00e7eri\u011fi gibi konular\u0131 belirler.<\/p>\n\n\n\n<p>DD t\u00fcrleri aras\u0131nda \u0130\u015f DD&#8217;si, Finansal DD, Hukuki DD bulunur, ancak bunun yan\u0131 s\u0131ra \u0130nsan Kaynaklar\u0131 DD&#8217;si, IT DD&#8217;si, \u00c7evresel DD gibi DD&#8217;ler de ger\u00e7ekle\u015ftirilebilir. Hem sat\u0131c\u0131 taraf hem de al\u0131c\u0131 taraf DD&#8217;yi ger\u00e7ekle\u015ftirir, ancak yukar\u0131daki Madde 5&#8217;te belirtildi\u011fi gibi, genellikle temel anla\u015fmada \u00f6ng\u00f6r\u00fclen durum, al\u0131c\u0131 taraf\u0131n sat\u0131c\u0131 tarafa DD yapmas\u0131d\u0131r.<\/p>\n\n\n\n<p>Al\u0131c\u0131 taraf olarak, s\u0131n\u0131rl\u0131 bir s\u00fcre i\u00e7inde para yat\u0131r\u0131p DD yapmak, etkili ve do\u011fru sonu\u00e7lar elde etmek hedef olacakt\u0131r ve bu durumda sat\u0131c\u0131 taraf\u0131n i\u015fbirli\u011fi zorunlu olacakt\u0131r. Bu nedenle, temel anla\u015fmada sat\u0131c\u0131 taraf\u0131n DD&#8217;ye i\u015fbirli\u011fi y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fcn belirlenmesi genellikle olur.<\/p>\n\n\n\n<p>Ancak, sat\u0131c\u0131 taraf\u0131n al\u0131c\u0131 taraf ile i\u015flem yapmaya istekli olmas\u0131 durumunda, bu t\u00fcr bir y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc belirlemenin anlam\u0131 d\u00fc\u015f\u00fck olacakt\u0131r. Ayr\u0131ca, sat\u0131c\u0131 ve al\u0131c\u0131 taraflar\u0131n m\u00fczakereleri ba\u015far\u0131s\u0131z oldu\u011funda bile DD&#8217;ye i\u015fbirli\u011fi y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fc kalkan olarak kullanarak bilgi a\u00e7\u0131klamas\u0131n\u0131 talep etmek mant\u0131ks\u0131zd\u0131r. Bu nedenle, DD&#8217;ye i\u015fbirli\u011fi y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fcn hukuki ba\u011flay\u0131c\u0131l\u0131\u011f\u0131 olmad\u0131\u011f\u0131 kabul edilebilir. Temel anla\u015fmada DD&#8217;ye i\u015fbirli\u011fi y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fcn hukuki ba\u011flay\u0131c\u0131l\u0131\u011f\u0131 olan bir \u015fey olarak belirlendi\u011finde, sat\u0131c\u0131 taraf, bu y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn kapsam\u0131n\u0131 s\u0131n\u0131rl\u0131 tutmak i\u00e7in m\u00fczakere \u00e7abalar\u0131 g\u00f6sterecektir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Iyi_Yonetim_Sorumlulugu\"><\/span>\u0130yi Y\u00f6netim Sorumlulu\u011fu<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Madde 6 (\u0130yi Y\u00f6netim Sorumlulu\u011fu)<br>1 A ve C, nihai s\u00f6zle\u015fmenin imzalanmas\u0131na kadar, iyi bir y\u00f6netici dikkatiyle, i\u015flerin y\u00fcr\u00fct\u00fclmesi ve m\u00fclkiyetin y\u00f6netilmesi gerekmektedir.<br>2 A ve C, a\u015fa\u011f\u0131da belirtilen eylemleri ve C&#8217;nin i\u015fletme faaliyetlerine \u00f6nemli etkisi olan di\u011fer eylemleri ger\u00e7ekle\u015ftiremez. Ancak, B&#8217;nin \u00f6nceden yaz\u0131l\u0131 onay\u0131 varsa bu durum ge\u00e7erli de\u011fildir.<br>(1) \u00d6nemli varl\u0131klar\u0131n devri, tasfiyesi, kiralama hakk\u0131n\u0131n olu\u015fturulmas\u0131<br>(2) Sermaye art\u0131r\u0131m\u0131, sermaye azalt\u0131m\u0131<br>(3) Y\u00f6netim yap\u0131s\u0131n\u0131n de\u011fi\u015ftirilmesi<br>(4) B\u00fcy\u00fck miktarlarda yeni bor\u00e7lanma ve di\u011fer bor\u00e7 y\u00fck\u00fcml\u00fcl\u00fcklerinin ger\u00e7ekle\u015ftirilmesi<br>(5) Belirli bir miktar\u0131 a\u015fan tesis yat\u0131r\u0131mlar\u0131<br>(6) Mali durum ve gelecekteki kar ve zarar durumunda \u00f6nemli de\u011fi\u015fikliklere neden olan di\u011fer eylemler<\/p>\n\n\n\n<p>Sat\u0131c\u0131 taraf\u0131n\u0131n, hedef \u015firketin de\u011ferini d\u00fc\u015f\u00fcrmemek i\u00e7in y\u00fcksek bir dikkat sorumlulu\u011fu ta\u015f\u0131mas\u0131 gerekti\u011fini belirtir.<\/p>\n\n\n\n<p>Pazarl\u0131k s\u00fcresi boyunca hedef \u015firketin de\u011ferinin d\u00fc\u015fmemesi i\u00e7in, al\u0131c\u0131 taraf\u0131n\u0131n konumunu korumak amac\u0131yla bu madde olu\u015fturulmu\u015ftur.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hukuki_Baglayicilik\"><\/span>Hukuki Ba\u011flay\u0131c\u0131l\u0131k<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Madde 7 (Hukuki Ba\u011flay\u0131c\u0131l\u0131k)<br>Bu anla\u015fma, Madde X, Madde Y ve Madde Z hari\u00e7 olmak \u00fczere, hukuki ba\u011flay\u0131c\u0131l\u0131\u011f\u0131 olmayan bir belge olarak kabul edilir.<\/p>\n\n\n\n<p>Bu madde, temel anla\u015fman\u0131n hukuki ba\u011flay\u0131c\u0131l\u0131\u011f\u0131 olan maddelerini belirginle\u015ftirmek i\u00e7in vard\u0131r.<\/p>\n\n\n\n<p>Temel anla\u015fma, nihai s\u00f6zle\u015fmeye var\u0131lmadan \u00f6nce DD (Due Diligence) a\u015famas\u0131n\u0131n tamamlanmad\u0131\u011f\u0131 bir a\u015famada ge\u00e7ici bir anla\u015fma yapmak i\u00e7in vard\u0131r, bu y\u00fczden genellikle hukuki ba\u011flay\u0131c\u0131l\u0131\u011f\u0131 olmad\u0131\u011f\u0131 kabul edilir. Ancak, baz\u0131 maddelerin hukuki ba\u011flay\u0131c\u0131l\u0131\u011f\u0131 olmas\u0131 istenebilir. \u00d6zel durumlara g\u00f6re, taraflar aras\u0131nda hukuki ba\u011flay\u0131c\u0131l\u0131\u011f\u0131n kapsam\u0131n\u0131 belirlemek, ileriki m\u00fczakereler i\u00e7in \u00f6nemli olacakt\u0131r.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Gizlilik\"><\/span>Gizlilik<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/08\/ma-lawyer-basic-agreement5.jpg\" alt=\"\" class=\"wp-image-16243\" \/><\/figure>\n\n\n\n<p>\u015eimdiye kadar belirtti\u011fimiz maddeler d\u0131\u015f\u0131nda, gizlilikle ilgili bir madde belirlenebilir. Gizlilik s\u00f6zle\u015fmesi, genellikle temel anla\u015fma metninin imzalanmas\u0131ndan \u00f6nce imzalanmam\u0131\u015fsa, bu durumda imzalan\u0131r.<\/p>\n\n\n\n<p>Gizlilikle ilgili maddeler hakk\u0131nda, temel anla\u015fma metnini imzalamadan \u00f6nce bir gizlilik s\u00f6zle\u015fmesi imzalanabilir ve bu durumda, temel anla\u015fma metninde belirtme ihtiyac\u0131 d\u00fc\u015f\u00fck olacakt\u0131r. Ancak, zaten bir gizlilik s\u00f6zle\u015fmesi imzalanm\u0131\u015fsa, temel anla\u015fma metninin imzalanmas\u0131 ger\u00e7e\u011fini gizli tutmak isterseniz, gizli bilgilerin kapsam\u0131n\u0131 geni\u015fletmek i\u00e7in temel anla\u015fma metninde tekrar belirtmeniz gerekecektir.<\/p>\n\n\n\n<p>Gizlilik s\u00f6zle\u015fmesi ile ilgili ayr\u0131nt\u0131l\u0131 bilgiler a\u015fa\u011f\u0131daki makalede a\u00e7\u0131klanm\u0131\u015ft\u0131r.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/checkpoints-nondisclosure-agreement\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/checkpoints-nondisclosure-agreement[ja]<\/a><\/p>\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>M&amp;A i\u015flemlerinde imzalanan s\u00f6zle\u015fmeler ve i\u015flem t\u00fcrleri duruma g\u00f6re de\u011fi\u015fir ve temel anla\u015fma metinlerinin maddeleri de \u00e7e\u015fitlilik g\u00f6sterir.<\/p>\n\n\n\n<p>Ayr\u0131ca, temel anla\u015fma metninin ne zaman imzaland\u0131\u011f\u0131na ba\u011fl\u0131 olarak ifade bi\u00e7imlerini de\u011fi\u015ftirmek gibi daha uzmanla\u015fm\u0131\u015f ve zengin deneyimler gereklidir.<\/p>\n\n\n\n<p>Gelecekteki sorunlar\u0131 \u00f6nlemek i\u00e7in, bir uzmana dan\u0131\u015fman\u0131z ve dikkatlice haz\u0131rlaman\u0131z\u0131 \u00f6neririz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&amp;A i\u015flemleri ile ilgili s\u00f6zle\u015fmeler, al\u0131c\u0131 ve sat\u0131c\u0131 aras\u0131ndaki m\u00fczakere a\u015famas\u0131na ba\u011fl\u0131 olarak farkl\u0131 t\u00fcrlerde d\u00fczenlenir. Bu makalede, M&amp;A i\u015flemlerini d\u00fc\u015f\u00fcnen al\u0131c\u0131 ve sat\u0131c\u0131 \u015firketlerin m\u00fc [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":64823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,27],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61646"}],"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=61646"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61646\/revisions"}],"predecessor-version":[{"id":64824,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61646\/revisions\/64824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media\/64823"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media?parent=61646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/categories?post=61646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/tags?post=61646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}