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Letter Of Intent For Loa
"Need a Letter of Intent for LOA to be drafted for our small manufacturing company seeking financing from ABC Bank, with a proposed facility of £2 million and an exclusivity period until March 2025."
1. Date: Current date of the letter
2. Parties: Full legal names and addresses of both parties
3. Project Description: Clear outline of the proposed transaction or project
4. Key Terms: Principal commercial terms being proposed
5. Timeline: Proposed timeline for completion of the transaction
6. Binding/Non-binding Statement: Clear statement of which provisions are intended to be binding
1. Exclusivity: Terms regarding exclusive negotiations, used when parties want to prevent parallel negotiations
2. Confidentiality: Terms regarding information sharing and confidentiality, used when sensitive information will be exchanged
3. Due Diligence: Process for information gathering and verification, used in complex transactions
4. Cost Allocation: Terms regarding who bears what costs, used when significant preliminary expenses are expected
1. Term Sheet: Summary of key commercial terms being proposed
2. Timeline Schedule: Detailed breakdown of proposed timeline and milestones
3. Corporate Information: Basic corporate information about the parties involved
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