Traders are better off NOT using documents like LOI, ICPO, FCO, etc. Even if and when they rarely are used in internal trades, on a restricted level within specific industries, they have no legal or customary basis in International Trade whatsoever. In fact the presence of many of these terms are considered to be signs of Advance Fee Fraud, by knowledgeable players and law enforcement.
Closing shall be on or before specified date at a place and time agreeable to all parties. From the signing of this letter of intent until Closing, Seller shall operate its business under the normal course of business and Seller shall not present, enter into discussions, or offer to sell its business to any other party. This paragraph shall be binding on the parties although the balance of this letter only expresses the intentions of the parties.