Effect of this Letter of Intent Sample Clauses

Effect of this Letter of Intent. This Letter of Intent is intended merely as a guide in the negotiations and preparation of the Purchase Agreement on terms and conditions satisfactory to the parties hereto, and nothing contained herein shall be construed to preclude other provisions from being included in the Purchase Agreement, provided that such other provisions are consistent with the content of this Letter of Intent and otherwise satisfactory to the parties hereto. While the parties intend to proceed promptly to complete and execute the Purchase Agreement, it is expressly understood that this is a Letter of Intent only, and no liability or obligation of any nature whatsoever is intended to be created between either of the parties hereto except as set forth in Paragraphs 2 (confidentiality) and 3 (exclusivity) hereof, together with the obligation to repay the Loan in accordance with its terms.
Sample 1
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Effect of this Letter of Intent. This is not an offer or a commitment on the part of either Party or any parent or affiliate of any of them. The Parties understand that except as expressly set forth in this paragraph, this Letter of Intent constitutes a non-binding statement of the Parties’ respective intentions with respect to the Proposed Transaction and does not contain all matters upon which agreement would need to be reached in order for the Proposed Transaction to be consummated, and therefore does not constitute a binding commitment or agreement with respect to the Proposed Transaction itself. Any such binding commitment or agreement with respect to the Proposed Transaction would result only from the execution and delivery of the Definitive Agreements (as defined in the Term Sheet), subject to the terms and conditions expressed therein. Notwithstanding the foregoing, the Parties acknowledge and agree that only Sections 3, 4, 5 and 6 create, and are intended to create, a binding, legal and contractual obligation of the Parties.
Sample 1
Effect of this Letter of Intent. This Letter of Intent is intended as a binding contract between parties. It shall be mutually enforceable by each party as against the other. The consummation of the transaction contemplated hereby is subject to execution of delivery of the definitive documents which shall contain such representations, warranties, covenants, conditions and other terms as shall be mutually agreed upon. In the absence of further definitive documents executed by both parties, the terms and conditions of this Letter of Intent shall control.
Sample 1
Effect of this Letter of Intent. This Letter of Intent is intended as a binding contract between the parties. It shall be mutually enforceable by each party as against the other. Please acknowledge that this Letter of Intent correctly sets forth our agreement by countersigning the enclosed duplicate original of this Letter of Intent in the space provided below and returning one fully executed original to Purchaser. Understood, Xxxxxx & Accepted: [Owner/Founder] [Other Company Officer Name] Exhibit A Loan Terms & Conditions ▪ Xxx ▪ Xxx ▪ xxx Exhibit B Continued Employment Name Salary [Name] Shares $xxx Term (Months) xxx xx [Name] $xxx xxx xx
Sample 1

Related to Effect of this Letter of Intent

  • Effect of this Agreement Subject to the Corporation’s right to terminate the Option pursuant to Section 7.4 of the Plan, this Option Agreement shall be assumed by, be binding upon and inure to the benefit of any successor or successors to the Corporation.

  • Amendment of this Agreement No provision of this Agreement may be changed, waived, discharged or terminated orally, but only by an instrument in writing signed by the party against whom enforcement of the change, waiver, discharge or termination is sought, and no amendment of this Agreement shall be effective until approved in a manner consistent with the 1940 Act and rules and regulations thereunder and any applicable SEC exemptive order therefrom.

  • Terms of this Agreement The Parties acknowledge that this Agreement and all of the respective terms of this Agreement shall be treated as Confidential Information of both Parties.

  • Effect of this Amendment Except as modified pursuant hereto, no other waivers, changes or modifications to the Financing Agreements are intended or implied, and in all other respects, the Financing Agreements are hereby specifically ratified, restated and confirmed by all parties hereto as of the effective date hereof. To the extent of conflict between the terms of this Amendment and the other Financing Agreements, the terms of this Amendment shall control.

  • Continuing Nature of this Agreement This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Parity Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any holder of Parity Lien Obligations or Parity Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment or distribution made with respect to the Parity Lien Obligations is recovered from any holder of Parity Lien Obligations or any Parity Lien Representative in an Insolvency or Liquidation Proceeding or otherwise, such payment or distribution received by any holder of Junior Lien Obligations or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral at any time after the date of the payment or distribution that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, will forthwith deliver the same to the Collateral Trustee, for the account of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Lien, to be applied in accordance with Section 3.4. Until so delivered, such proceeds will be held by that Junior Lien Representative or that holder of a Junior Lien Obligation, as the case may be, for the benefit of the holders of the Parity Lien Obligations and other Obligations secured by a Permitted Prior Lien.

  • Execution of this Agreement This Agreement may be executed in multiple counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. The exchange of copies of this Agreement and of signature pages by facsimile or other electronic transmission shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes.

  • Amendments of this Agreement This Agreement may be amended by the parties only if such amendment is specifically approved by (i) the Board of Directors of the Fund, to the extent permitted by the Investment Company Act, or by the vote of a majority of the outstanding shares of the Portfolio, and (ii) by the vote of a majority of those directors of the Fund who are not parties to this Agreement or interested persons of any such party cast in person at a meeting called for the purpose of voting on such approval.

  • Assignment of this Agreement (a) We may assign, transfer, sub-contract or sell our rights, benefits or obligations under this Agreement at any time to any of our Affiliates or to an unaffiliated third party and you consent to this without us having to notify you.

  • Modification of this Agreement This Agreement may not be modified, nor may compliance with any of its terms be waived, except as noted in Section 11.1, “Notices to Parties,” regarding change in personnel or place, and except by written instrument executed and approved in the same manner as this Agreement. Contractor shall cooperate with Department to submit to the Director of CMD any amendment, modification, supplement or change order that would result in a cumulative increase of the original amount of this Agreement by more than 20% (CMD Contract Modification Form).

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