Common Contracts
1 similar Letter of Intent contracts
Buyer Letterhead]Letter of Intent • October 21st, 2020 • Utah
This letter of intent sets forth a nonbinding understanding in principle between you individually (“Sellers”), as the sole shareholders of [1], Inc., and [1], Inc., itself (“[1a]”), and the undersigned [2] and [3] on behalf of a corporation to be formed and controlled by us (“Buyer”) covering some of the major terms and conditions of the proposed acquisition by Buyer (i.e., the new corporation) of all the stock of [1], Inc. This letter also contains some binding provisions in Part II below relating to the process of pursuing the transaction. We, the Buyer, the Sellers, and [1a], are the “parties” referred to in this letter of intent. An “affiliated entity” (or similar term) means any person (including in addition to individuals, any corporations, partnerships, limited liability companies, estates, trusts, associations, or other organizations) controlled by, under common control with, or controlling, the Sellers or [1a] or controlled directly or through any number of affiliated organiza
