Offer to Purchase Or Letter of Intent. Both terms are used to describe an offer made to purchase a business. An over_simplification of the definition of both documents is: An Offer to Purchase is usually written in contract form and defines the price, terms and conditions of the sale, and is usually accompanied by an earnest money deposit. A Letter of Intent (LOI) is usually written in letter form and also defines the price and the terms and conditions but usually doesn't call for an earnest money deposit.
The NLI is NOT required to receive athletic scholarship _ While the NLI is not required to receive an athletic scholarship, understand that no financial aid commitment is guaranteed. Once the NLI is signed, the athletic award amount becomes guaranteed and recruiting by all other NLI member institutions must cease.