A Letter of Intent (LOI) sent by a buyer / purchaser to a seller / vendor in a sale and purchase situation. This represents the good faith intentions of the parties but also include deposit from the Buyer. This document is drafted from the perspective of the Buyer.
The Buyer sets out in this Letter of Intent ("LOI") the general terms and conditions of a proposed acquisition of the proportional % interest in the “Target” from the Seller. The Seller will sign and acknowledge the terms of the LOI
The parties recognise that the various arrangements will need careful review but each will endeavour in good faith to agree the detailed terms of the acquisition, on the basis of the principles set out in this Memorandum, and to take all necessary other actions in order successfully to complete the Proposed Transaction (as defined below).