Model Legal Documents Model Legal Documents Our model documents seek to greatly reduce the time and cost associated with the preparation and review of private capital financings. Home Resources Model Legal Documents Home By providing an industry-embraced set of model documents, parties involved in private capital transactions are able to focus their time on the high-level issues of the deal at hand, rather than reviewing hundreds of pages of unfamiliar documents. MODEL DOCUMENT OBJECTIVES Reflect, and in a number of instances guide and establish, industry norms Be fair, avoid bias toward the VC/PE or the company/entrepreneur Present a range of potential options, reflecting a variety of financing terms Include explanatory commentary where necessary or helpful Anticipate and eliminate traps for the unwary (i.e. unenforceable or unworkable provisions) For VC, provide a comprehensive set of internally consistent financing documents Promote consistency among transactions Reduce transaction costs and time Disclaimer These model documents are for informational purposes only and are not to be construed as legal advice for any particular facts or circumstances. These documents are provided “as is”, without any warranty, either express or implied, and without liability. These documents are intended to serve as a starting point only, and must be tailored to meet your specific requirements. The model documents do not attempt to address any cross-border tax, regulatory or other legal concerns that may be applicable to non-Canadian investors investing in a Canadian corporation. New Parental Leave Policy Template CVCA, in collaboration with Canadian Women in Venture Capital (CWVC) and Borden Ladner Gervais LLP (BLG), has developed a Parental Leave Policy Model Document. The purpose of this policy template is to comply with the laws of the main Canadian provinces where CVCA members have employees, namely Ontario, B.C., Alberta, and Quebec. This template is intended to encourage the recruitment and retention of diverse talent in private capital, by providing a customizable document that can be adapted to meet the specific needs of each member organization. It is important to note that members should seek the assistance of their legal advisors when editing and implementing the policy document. Please note, the template presented is for informational purposes only and are not to be construed as legal advice for any particular facts or circumstances. Download (EN) Download (FR) Venture Capital Model Transaction Documents The CVCA Venture Capital Working Group is responsible for developing and maintaining Canadian venture capital transaction documents. The Model Documents available on this web page, except as noted below, are Canadian versions of the model documents made publicly available by the National Venture Capital Association (NVCA). CVCA gratefully acknowledges the NVCA for granting permission to use its model documents in Canada. The CVCA has adopted the NVCA model documents as the Canadian model because the NVCA model documents are widely used in the U.S. and are increasingly used in Canadian venture deals, and therefore have already become standard documents. Although the NVCA-based Canadian model documents are not the same as the documents historically used in Canada, most of the basic terms are the same or similar. There will be some learning for those using these documents for the first time, but the time spent on subsequent transactions should diminish significantly as familiarity with the documents increases. NOTE: These documents have been revised by the Working Group to reflect changes made by the NVCA to the corresponding NVCA model documents in the summer and early fall of 2020. Secured Convertible Promissory Note (Not NVCA) 1 file(s) 58.97 KB Download Secured Convertible Promissory Note (Not NVCA) – FRENCH 1 file(s) 99.07 KB Download Model Term Sheet 1 file(s) 46.86 KB Download Model Term Sheet – Blacklined Version 1 file(s) 322.35 KB Download Model Term Sheet – FRENCH 1 file(s) 97.44 KB Download Stock Purchase Agreement – Updated Mar. 21, 2022 – Minor changes to Section 2.9 1 file(s) 100.56 KB Download Stock Purchase Agreement – Redline version 1 file(s) 713.72 KB Download Stock Purchase Agreement – FRENCH 1 file(s) 187.08 KB Download Certificate/Articles of Incorporation – French version not yet available 1 file(s) 98.99 KB Download Certificate/Articles of Incorporation – Redline Version 1 file(s) 830.23 KB Download Voting Agreement 1 file(s) 78.95 KB Download Voting Agreement – Blacklined Version 1 file(s) 519.55 KB Download Voting Agreement – FRENCH 1 file(s) 151.91 KB Download Right of First Refusal 1 file(s) 57.77 KB Download Right of First Refusal – Blacklined Version 1 file(s) 436.87 KB Download Right of First Refusal – FRENCH 1 file(s) 100.97 KB Download Investors’ Rights Agreement 1 file(s) 114.95 KB Download Investors’ Rights Agreement – Blacklined Version 1 file(s) 758.70 KB Download Investors’ Rights Agreement – FRENCH 1 file(s) 210.15 KB Download Unanimous Shareholders Agreement based on NVCA Documents 1 file(s) 145.02 KB Download Unanimous Shareholders Agreement (Not NVCA) – 2018 1 file(s) 274.57 KB Download Unanimous Shareholders Agreement (Not NVCA) – 2024 1 file(s) 151.91 KB Download Management Rights Letter 1 file(s) 36.50 KB Download Management Rights Letter – Blacklined Version 1 file(s) 199.19 KB Download Management Rights Letter – FRENCH 1 file(s) 68.50 KB Download Indemnification Agreement 1 file(s) 62.70 KB Download Indemnification Agreement – Blacklined Version 1 file(s) 521.33 KB Download Indemnification Agreement – FRENCH 1 file(s) 135.06 KB Download Form Of Legal Opinion 1 file(s) 53.00 KB Download Form Of Legal Opinion – Blacklined Version 1 file(s) 47.73 KB Download Form Of Legal Opinion – FRENCH 1 file(s) 78.50 KB Download Conversion Guide 1 file(s) 27.70 KB Download Private equity Model Transaction Documents The CVCA Private Equity Model Transaction Documents Working Group is responsible for developing and maintaining Canadian private equity transaction documents. Fundamental Representations & Warranties 1 file(s) 299.25 KB Download Purchase Agreement Indemnification 1 file(s) 53.69 KB Download Transfer Restrictions, Tag Drag Pre-emptive Rights 1 file(s) 43.58 KB Download Purchase Price Adjustment 1 file(s) 52.04 KB Download Registration Rights Agreement 1 file(s) 207.00 KB Download Fund Formation Documents CVCA’s Fund Formation Documents Working Group has Canadianized and annotated the Institutional Limited Partners Association (ILPA) documents listed. While the documents below have been modified for use in Canada, they are not CVCA model documents. Redline of CVCA Annotated Subscription Agreement to ILPA Subscription Agreement 1 file(s) 551.02 KB Download CVCA Annotated ILPA Subscription Agreement for PE/VC Fund 1 file(s) 307.94 KB Download CVCA Annotated ILPA Limited Partnership Agreement for PE/VC Fund – FRENCH 1 file(s) 444.24 KB Download Redline of CVCA Annotated LPA to ILPA LPA 1 file(s) 1.44 MB Download CVCA Annotated ILPA Limited Partnership Agreement for PE/VC Fund 1 file(s) 389.84 KB Download Redline of CVCA Annotated Term Sheet to ILPA Term Sheet 1 file(s) 370.45 KB Download CVCA Annotated ILPA Term Sheet for PE/VC Fund 1 file(s) 290.96 KB Download