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A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement , term sheet or memorandum of understanding .
A set of heads of agreement, heads of terms, or letter of intent is a non-binding document outlining the main issues relevant to a tentative sale, partnership, or other agreement. [ 1 ] A heads of agreement document will only be enforceable when it is adopted into a parent contract and is subsequently agreed upon, unless otherwise stated.
A letter of comfort, sometimes called a "letter of intent", is a communication from a party to a contract to the other party that indicates an initial willingness to enter into a contractual obligation absent the elements of a legally enforceable contract. The objective is to create a morally binding but not legally binding assurance.
In 1998 Levi Straus signed a letter of intent stating that it would renew its lease for 620,000 square feet (58,000 m 2). In terms of the square footage, as of March 8, 1998 it was the largest lease deal in San Francisco of the 1990s. Because a decline in the company's workforce, the company reduced the amount of square footage that it held.
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors .
In Mechanic's lien law a Notice of Intent to Lien (also known as a Notice of Intent, a Notice of Intent to File a Mechanics Lien, an intent notice, an NOI, or a notice of non-payment) is a type of preliminary notice that warns the property owner, prime contractor, and/or other party on a construction that a mechanics lien or bond claim will be filed unless overdue payments are made within a ...
Despite the zoning victory, Boston Properties decided not to begin construction until a lead tenant signed. [12] But six months later, in November 2001, the law firm of Finnegan, Henderson, Farabow, Garrett & Dunner signed a letter of intent to lease 225,000 square feet (20,900 m 2) of the building.
The Letter of Intent from Southern Star set out a lease agreement between the city and the company, stating Southern Star's proposed lease terms and its intent to utilize and restore the area. The company would enter a 75-year lease and take on the property in its current condition.
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