A Letter of Intent to Sell is commonly used in German business transactions as a preliminary step before entering into a definitive sale agreement. It is particularly valuable when parties need to establish a framework for complex negotiations while maintaining flexibility. The document typically precedes detailed due diligence and final contract negotiations, outlining key commercial terms such as the asset or business to be sold, approximate purchase price, and timeline. Under German law, while most provisions are non-binding, certain aspects like confidentiality obligations and exclusivity periods can create legally binding commitments. The document helps parties align their expectations and demonstrates serious intent while preserving room for detailed negotiations. It's especially useful in cross-border transactions where parties need to establish clear parameters within the German legal framework before committing significant resources to the transaction.
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1. Date and Parties: Opening section identifying the date and the full legal names and addresses of both the intended seller and buyer
2. Subject Matter: Clear identification and description of the asset(s) or business intended to be sold
3. Purchase Price: Proposed purchase price or pricing mechanism, including any major conditions or adjustments
4. Transaction Structure: Basic outline of how the transaction is intended to be structured
5. Timeline: Proposed timeline for due diligence, negotiations, and completion of the final transaction
6. Exclusivity: Any exclusivity period during which the seller cannot negotiate with other parties
7. Confidentiality: Statement regarding the confidential nature of negotiations and any information exchanged
8. Non-Binding Nature: Clear statement that the letter is non-binding except for specific provisions (such as confidentiality and exclusivity)
9. Governing Law: Statement that German law governs the letter and any resulting negotiations
10. Signature Block: Space for signatures of authorized representatives of both parties
1. Due Diligence Process: Detailed outline of the due diligence process, used when the transaction is complex or involves significant assets
2. Key Conditions: Major conditions that must be satisfied before proceeding with the final transaction, included for complex deals
3. Cost Allocation: Distribution of costs related to the transaction, included when significant transaction costs are expected
4. Employee Matters: Preliminary agreements regarding employees, used when the sale involves transfer of employees
5. Regulatory Approvals: List of required regulatory approvals, included when the transaction requires regulatory clearance
6. Break Fee: Terms of any break fee, included in high-value transactions or where significant preliminary costs are expected
7. Material Adverse Change: Conditions under which parties can withdraw, used in complex or long-term transaction processes
1. Asset Schedule: Detailed list of assets included in the proposed sale, if multiple assets are involved
2. Price Calculation: Detailed methodology for calculating the final purchase price, if complex pricing mechanisms are involved
3. Timeline Schedule: Detailed timeline with specific milestones and deadlines for the transaction
4. Key Terms Sheet: Summary of key commercial terms to be included in the final agreement
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Manufacturing
Technology
Retail
Healthcare
Professional Services
Financial Services
Energy
Telecommunications
Automotive
Consumer Goods
Industrial Products
Media and Entertainment
Agriculture
Construction
Relevant Teams
Legal
Finance
Corporate Development
Mergers & Acquisitions
Business Development
Risk Management
Compliance
Strategy
Commercial Operations
Executive Leadership
Corporate Secretariat
Treasury
Tax
Due Diligence
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Managing Director
Head of Legal
Corporate Lawyer
Business Development Manager
Investment Manager
Commercial Director
Finance Director
Mergers & Acquisitions Manager
Legal Counsel
Corporate Development Director
Strategy Manager
Transaction Manager
Due Diligence Specialist
Risk Manager
Company Secretary
Business Owner
Property Manager
Asset Manager
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