The LOI Project document is a crucial preliminary agreement used in Austrian business practice when parties are considering entering into a significant commercial transaction or project. It serves as a roadmap for negotiations and future definitive agreements, outlining key commercial terms, timelines, and conditions while clearly distinguishing between binding and non-binding provisions. The document, governed by Austrian law, particularly the ABGB (Austrian Civil Code) and UGB (Commercial Code), typically includes provisions for exclusivity, confidentiality, and cost allocation during the negotiation phase. The LOI Project format is especially valuable for complex transactions where detailed due diligence and regulatory approvals may be required, providing a structured framework while maintaining flexibility for detailed negotiations.
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1. Parties: Full legal names and addresses of all parties involved in the potential transaction
2. Project Overview: Brief description of the proposed project or transaction
3. Key Commercial Terms: Outline of the principal commercial terms being considered
4. Timeline: Proposed schedule for negotiations, due diligence, and completion
5. Exclusivity: Terms of exclusive negotiation period, if applicable
6. Confidentiality: Basic confidentiality obligations regarding the negotiations and shared information
7. Costs: Each party's responsibility for costs during the negotiation phase
8. Non-Binding Nature: Clear statement about which provisions are binding and non-binding
9. Governing Law: Confirmation of Austrian law as governing law
1. Break Fee: Terms of any break fee payable if negotiations terminate under specific circumstances
2. Due Diligence Process: Detailed framework for conducting due diligence, if significant investigation is required
3. Conditions Precedent: Any specific conditions that must be met before proceeding with the main transaction
4. Good Faith Deposit: Terms of any initial deposit required to demonstrate commitment
5. Regulatory Approvals: Section addressing necessary regulatory clearances, if applicable to the project
6. Existing Agreements: Reference to any existing agreements between the parties that remain in effect
7. Employee Matters: Preliminary terms regarding employee retention or transition, if relevant to the transaction
1. Key Terms Sheet: Summary of main commercial terms under discussion
2. Timeline Schedule: Detailed project timeline with key milestones and deadlines
3. Due Diligence Checklist: List of required documents and information for due diligence
4. Contact List: Key contacts for each party including legal representatives
5. Asset Schedule: Preliminary list of assets involved in the potential transaction, if applicable
Relevant legal definitions
Clauses
Relevant Industries
Real Estate Development
Infrastructure
Energy
Technology
Manufacturing
Financial Services
Healthcare
Telecommunications
Industrial Development
Renewable Energy
Construction
Mining
Agriculture
Transportation
Relevant Teams
Legal
Finance
Business Development
Corporate Development
Strategy
Operations
Risk Management
Project Management
Investment
Commercial
Mergers & Acquisitions
Real Estate
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Project Director
Business Development Manager
Legal Counsel
Investment Manager
Development Director
Commercial Director
Head of Strategy
Operations Manager
Risk Manager
Corporate Development Officer
Managing Director
Chief Operating Officer
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