Letter of Intent and Contract Sample Clauses

Letter of Intent and Contract. Galway and HHG shall discuss potential properties after the initial reviews and evaluations, and if the parties both desire to proceed, Galway shall prepare a draft of the letter of intent (the "LOI") to purchase the hotel and deliver it to HHG for its review and comment. After the LOI is approved by both Galway and HHG, Galway shall deliver it to the seller. Both HHG and Galway shall participate in the negotiation of the terms with the seller, and HHG and Galway shall arrange for the preparation of the purchase contract (the "Purchase Contract"). Investment decisions will be based, among other things, on initial price, minimizing the costs and other burdens of any restructured financing and the value creation potential based on HHG's management efforts and ability to improve operational cash flow. The execution of a Purchase Contract and the decision to allow any contract xxxxxxx money to go "firm" is subject to the approval of both Galway and HHG, which approval may be withheld in the sole discretion of either party.
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Related to Letter of Intent and Contract

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  • Change Orders and Contract Amendments 33.1 The Procuring Entity may at any time order the Supplier through notice in accordance GCC Clause 8, to make changes within the general scope of the Contract in any one or more of the following: a) drawings, designs, or specifications, where Goods to be furnished under the Contract are to be specifically manufactured for the Procuring Entity; b) the method of shipment or packing; c) the place of delivery; and d) the Related Services to be provided by the Supplier. 33.2 If any such change causes an increase or decrease in the cost of, or the time required for, the Supplier's performance of any provisions under the Contract, an equitable adjustment shall be made in the Contract Price or in the Delivery/Completion Schedule, or both, and the Contract shall accordingly be amended. Any claims by the Supplier for adjustment under this Clause must be asserted within twenty-eight (28) days from the date of the Supplier's receipt of the Procuring Entity's change order. 33.3 Prices to be charged by the Supplier for any Related Services that might be needed but which were not included in the Contract shall be agreed upon in advance by the parties and shall not exceed the prevailing rates charged to other parties by the Supplier for similar services.

  • Formal Agreement If the above Agreement and relating exhibits thereto are acceptable, would you please execute the acceptance and acknowledgment hereinafter provided, upon which this letter will become a binding agreement between us.

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