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Hold Harmless Letter

Hold Harmless Letter

We have an audit client going through an MBO, the financiers providing the funds have appointed accountants to review the tax and audit work, so we are preparing a Hold Harmless letter. The parties we need to sign are the bank, the accountants and the MBO. The financiers and accountants should be straightforward, but the MBO haven't formed the limited company they are going to use as the vehicle, and don't intend to yet. Would it be satisfactory to name the individual members of he MBO and get them to all sign the letter, and put something along the lines that the "Purchaser means the MBO team and any structure used by them or any party related to them to purchase the shares"?

It would be a little unwieldy but do people think it would cover us?


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