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Assignable Option Agreement
"I need an Assignable Option Agreement for a commercial property development in Dublin, where the option holder should be able to assign the rights to any qualified property developer, with the option period running until June 2025 and requiring a €50,000 option premium."
1. Parties: Identification of all parties to the agreement
2. Background: Context of the agreement and brief description of the parties' intentions
3. Definitions and Interpretation: Definitions of key terms and interpretation rules
4. Grant of Option: Core terms of the option, including what is being optioned and basic exercise terms
5. Option Period: Duration of the option and any extension mechanisms
6. Option Premium: Details of any payment required for the option
7. Exercise of Option: Process and requirements for exercising the option
8. Assignment Rights: Terms governing the right to assign the option, including any restrictions or conditions
9. Notices: Requirements for giving formal notices under the agreement
10. Warranties and Representations: Basic warranties about capacity to enter agreement and grant option
11. Governing Law and Jurisdiction: Confirmation of Irish law and jurisdiction
12. Entire Agreement: Standard entire agreement clause
1. Property Specific Provisions: Required if the option relates to real property, including specific property-related warranties
2. Due Diligence: Include if there are specific due diligence requirements before exercise
3. Conditions Precedent: Include if there are conditions that must be met before the option can be exercised
4. Security: Include if any security is required for the option obligations
5. Assignment Approval Process: Detail specific procedures if assignment requires approval
6. Tax Provisions: Include specific tax provisions if there are particular tax implications
7. Regulatory Compliance: Include if specific regulatory requirements apply to the option or its exercise
8. Confidentiality: Include if specific confidentiality obligations are required
1. Schedule 1 - Description of Option Subject Matter: Detailed description of what is being optioned (e.g., property details, shares, etc.)
2. Schedule 2 - Form of Exercise Notice: Prescribed form for exercising the option
3. Schedule 3 - Form of Assignment Notice: Prescribed form for notifying assignment of the option
4. Schedule 4 - Option Premium Calculation: If complex, detailed mechanism for calculating the option premium
5. Schedule 5 - Permitted Assignees: If applicable, list or categories of permitted assignees
6. Appendix A - Required Documents: List of documents required for option exercise or assignment
Authors
Real Estate
Property Development
Investment Banking
Private Equity
Commercial Property
Corporate Finance
Energy and Resources
Infrastructure
Technology
Manufacturing
Legal
Commercial
Real Estate
Corporate Development
Mergers & Acquisitions
Investment
Business Development
Property
Compliance
Finance
Legal Counsel
Commercial Director
Property Director
Investment Manager
Business Development Manager
Contract Manager
Real Estate Manager
Corporate Lawyer
Transaction Manager
Development Director
Chief Legal Officer
Chief Commercial Officer
Investment Director
Acquisitions Manager
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