We have a saying in our firm that smooth transactions make successful transitions. Basically, if two parties cannot agree on the elements of the LOI, they will probably have a hard time negotiating while dealing with the minutiae of the purchase agreement. Normally, once the key points of the deal are negotiated up front, the rest of the transaction tends to work much more smoothly.
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.