7.Buyer, and/or his agents, shall have the right to review all books and records used in the preparation of the financial statements and tax returns for the last three years (may use an outside consulting or audit firm to validate the books and records) 8.Owner shall stay on for a maximum of XX months at a compensation rate agreeable to both parties (if necessary and required). 9.Buyer shall pay all sales tax on fixtures and equipment, if any. 10.Seller shall execute a X year non_compete agreement.
The letter of intent sample can serve as a good guide on how to draft a letter of intent. Organizations can use this letter in certain situations including the following. They can use it as a safeguard or form of security in case their agreement does not go well. They can also use the letter to make the points of their agreement clear. The other situation would be to declare the parties involved in the agreement.