Letters Of Intent

Letter of intent Example

Jane Doe

4209 Hamill A venue

San Diego, California 92111

Dear Jonathan Hihe:

This letter’s intent is to formally reflect the shared interests of the following Parties:

“Buyer(s)”: Jane Doe

and

“Seller(s)”: Jonathan Hihe

Buyer(s) would purchase Seller’s business, goods, services, etc. This letter also details prospective agreement terms and conditions, as well as information and material exchanges. The future agreement would involve additional paperwork, authorization, and the creation of a formal agreement setting forth the fundamental conditions and a commitment from the Buyer(s) to purchase and the Seller(s) to sell.

1. Prospective Transaction

The parties are interested in transferring 2409 Elsie Drive, Mcintosh, SD 57641, from the seller to the buyer (“Prospective Transaction”).

2. Purchase Price

The prospective transaction would entail payment from the buyer(s) to the seller(s) under the terms: the buyer will make a cash payment of $1,500,000.00 and 0 cents.

3. Liabilities of Seller

Buyer(s) wouldn’t undertake Seller’s duties (s). Seller(s) would remain accountable for all (known or unknown) liabilities or obligations not explicitly undertaken by Buyer and arising before the final or definitive agreement and pay and settle any known liabilities and obligations before closing.

4. Due Diligence

Buyer(s) may examine and analyze the Seller’s property, inventories, accounting records, client orders, receivables, and prospects until closing or termination of this Letter of Intent. Buyer(s) undertakes to sign a Confidentiality Agreement and not approach Seller’s clients or providers unless approved by Seller (s).

5. Contingencies

Before a final agreement may be established, Buyer(s) must be satisfied with Seller(s)’ due diligence review of information and documentation, as well as owner authorization to acquire the lease, employment contract settlement, environmental assessment (if applicable), and Definitive Agreement terms.

6. Definitive Agreement

The Definitive Agreement will be a purchase-and-sale of assets with standard limitations, restrictions, and assurances.

7. Non-Binding Agreement

Except for the paragraph marked “Public Announcements and Confidentiality Agreement,” this Letter of Intent is unenforceable on all Parties. The prospective transaction needs additional negotiation, documentation, and a final agreement. This letter doesn’t need either side to sign a contract. The parties are not contractually obliged to the aforementioned sale, purchase, or transfer unless they engage into a formalized, documented final agreement that is acceptable to each party and each party’s legal counsel.

8. Public Announcements and Confidentiality Agreement

All parties agree not to disseminate details about this letter or any possible agreement without their written authorization. All parties agree that the contents of this letter of intent and related conversations are confidential.

9. Authority to Enter Letter of Intent

The individuals who have signed this letter attest that they are duly authorized representatives of the organizations they represent and are competent to enter into this Letter of Intent.

10. Closing, Termination of Letter

Closing occurs 15 days after the last signing, unless prolonged by the Parties. If Closing doesn’t happen or isn’t prolonged, or if either party gives written notification, the Letter of Intent expires. The “Public Announcements and Confidentiality Agreement” provision covers termination of the Letter, as does any separate completed Confidentiality Agreement.

11. Expenses and Due Diligence

The Parties agree to pay their own due diligence and other costs related to the Prospective Transaction.

Sincerely,

Agreed to by Buyer(s) Date:

Jane Doe

And Accepted and Agreed to by Seller(s) Date:

Jonathan Hihe

Summary

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