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1. Conditions Precedent: Include when there are specific conditions that must be met before proceeding with the joint venture, such as regulatory approvals or third-party consents

2. Cost Allocation: Include when parties need to specify how costs during the negotiation period will be shared

3. Termination Provisions: Include when parties want to specify circumstances under which the LOI can be terminated prior to executing definitive agreements

4. Governing Law and Jurisdiction: Include when parties want to specify the applicable law and jurisdiction for dispute resolution, particularly important for international joint ventures

5. Break Fee: Include when parties want to specify penalties for withdrawing from negotiations without justified cause

6. Local Content Compliance: Include when the joint venture involves sectors with specific Nigerian local content requirements

1. Preliminary Business Plan: High-level outline of the proposed business activities and operational structure

2. Timeline Schedule: Detailed timeline for key milestones, including due diligence, negotiations, and closing

3. Initial Capital Structure: Preliminary breakdown of proposed capital contributions and ownership structure

4. Key Personnel: List of key personnel from each party who will be involved in negotiations and implementation