Standard Form Of Letter Of Intent (Page 3 of 3) in pdf

Standard Form Of Letter Of Intent Page 3

expressly reserves its rights to negotiate with other parties until a binding Purchase and Sale Agreement is

executed by Buyer and Seller. Except for Buyer’s indemnity obligation under Paragraph 9 and the duty

of confidentiality under Paragraph 12, neither party shall be bound to the other party until a Purchase and

Sale Agreement is executed by both parties. If a Purchase and Sale Agreement is not fully executed on or

before the __________, 20__, then, except for Paragraphs 9 and 12 herein, this letter shall become null

and void.

If this letter accurately sets forth your understanding of the basic business terms relating to our

negotiation of the proposed Purchase and Sale Agreement, please execute and return the enclosed

duplicate original of this letter to the undersigned by on or before ______ P.M. on _______________,

20___. Upon our receipt of an executed copy of this letter, Seller shall prepare the Purchase and Sale

Agreement.

The party executing this letter on behalf of Buyer hereby represents and warrants that it has full

legal power, right and authority to do so.

If you have any questions or comments, please let us know.

Sincerely,

By: _________________________________________

Its: _____________________________

___:__

Enclosure

APPROVED BY:

“BUYER”:

a _______________

By:

Its:

______

ACKNOWLEDGED BY:

“SELLER”:

a _______________

By:

Its:

______

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Standard Form Of Letter Of Intent Page 3