If you agree to the above terms and wish to continue the proposed transaction on this basis, please sign this letter in the section below and return an executed copy. The LOI serves as the basis for a final agreement. In accepting the letter of intent, both parties intend to continue negotiations in good faith. If two parties accept the commitments in good faith, it means that they are both sincere in their intention to act and keep their promise. (a) Given the costs, the seller agrees that, until the end of this letter in paragraph 8 (this period, exclusivity period), nor its representatives, executives, directors, directors, directors, representatives, members, managers, subsidiaries or related companies (the “group of sellers”), directly or indirectly, a proposal or offer from a person or group of a person or group of persons related to the buyer and related company (a Proposal for Acquisition) , to maintain, negotiate, negotiate, accept or discuss directly or indirectly to acquire or acquire the business or its assets, whether through merger, share purchase, purchase of assets, offer or other, or to provide non-public information to third parties in connection with an acquisition proposal or to enter into an agreement. , an arrangement or understanding that requires the transaction with the buyer to be abandoned, completed or not concluded. The seller undertakes to immediately notify the buyer when a member of the seller group receives requests for information or offers regarding a proposed acquisition and will communicate to the buyer the terms of such a request or offer in detail and will provide the buyer with copies of all written communications regarding such a request or offer. Immediately after the execution of this letter, the seller will terminate any discussion or negotiation with a person or group of persons other than the purchaser and its affiliates regarding an acquisition proposal and will terminate any ongoing discussion or negotiation with a person or group of persons other than the purchaser and its related companies. The seller assures that no member of the group of sellers is a party to an agreement regarding a proposed acquisition other than that of this letter or is related to it. This agreement is most often used in transactions with a purchase. Sometimes two parties know they want to do a business contract together, but they are not ready to sign a real agreement.
For example, they may agree that a party will sell its business at a certain price, but they do not yet agree on who will cover certain debts of the business. The parties can sign this document to show the other person the intention to develop an agreement. It can also help parties get what they expect from the purchase on the same side. The parties may understand certain conditions that must be met before a final agreement is signed, such as. (b) the implementation of the final agreement by the parties and ancillary agreements; Insert all agreed terms, z.B. purchase price or price adjustments.