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Assignable Option Agreement Template for Ireland

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Key Requirements PROMPT example:

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."

Document background
The Assignable Option Agreement is a sophisticated legal instrument used in Irish business and commercial transactions where parties seek to create transferable rights over assets or opportunities. This document is particularly valuable in scenarios where flexibility in the transfer of rights is desired, such as in property development, corporate acquisitions, or investment structures. The agreement combines the traditional elements of an option agreement with specific provisions allowing for the transfer of the option rights to third parties, all within the framework of Irish law. It typically includes detailed terms about the option itself (including price, exercise period, and conditions), comprehensive assignment mechanisms, and any restrictions or conditions on assignment. This type of agreement is commonly used in commercial real estate transactions, corporate restructuring, and investment projects where the ability to transfer rights is a key commercial requirement.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


































Clauses































Relevant Industries

Real Estate

Property Development

Investment Banking

Private Equity

Commercial Property

Corporate Finance

Energy and Resources

Infrastructure

Technology

Manufacturing

Relevant Teams

Legal

Commercial

Real Estate

Corporate Development

Mergers & Acquisitions

Investment

Business Development

Property

Compliance

Finance

Relevant Roles

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

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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