A Letter of Intent (LOI) sent by a seller / vendor to a buyer / purchaser 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 Seller.
The Seller sets out in this Letter of Intent ("LOI") the general terms and conditions of a proposed sale of the proportional % interest in the “Target” to the Buyer. The Buyer 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.
memorandum of understanding,
sale and purchase,
heads of agreement,
heads of terms,
Letter of Intent,