State that, no binding contract is to come into effect, except to the extent set out in the letter and that neither the letter nor any work done or payment made under the letter shall be deemed to be a waiver of the requirement to provide a binding contract. Finally, every effort should be made to finalise the contract as soon as reasonably practicable after the letter of intent has been signed.
G. Terms of the transaction_Examples: All Cash at Closing... or Ūꯠꯠ Cash and 趚ꯠ Promissory Note at Closing. H. Information pertaining to any lease to be entered into by the buyer. Example: Buyer and Seller agree to enter into a triple net lease with an original term of 10 years and three five_year options. Annual increases in the lease rate will be the lesser of CPI or 2Ǒ% of prior year's rent. Again, the LOI is not drafting the lease. It is only establishing the primary terms.