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Exclusive Option Agreement
"I need an Exclusive Option Agreement governed by Singapore law for a tech startup granting a 6-month exclusive option to purchase its software IP portfolio, with the option period starting March 1, 2025, and including comprehensive due diligence provisions."
1. Parties: Identification and details of the option grantor and grantee
2. Background: Context and purpose of the option agreement
3. Definitions: Key terms used throughout the agreement
4. Grant of Option: Core terms of the option, including what is being offered
5. Option Period: Duration for which the option remains valid
6. Option Price: Consideration paid for the option itself
7. Exercise Price: Price payable upon exercise of the option
8. Exercise Mechanism: Process and requirements for exercising the option
1. Due Diligence: Rights to conduct due diligence, used when option relates to complex assets
2. Conditions Precedent: Conditions that must be satisfied before option can be exercised
3. Representations and Warranties: Statements about the subject matter of the option
4. Non-Competition: Restrictions on grantor during option period
1. Asset Description: Detailed description of the subject matter of the option
2. Form of Exercise Notice: Template notice for exercising the option
3. Form of Underlying Agreement: Draft of the agreement to be entered into upon exercise
4. Due Diligence Requirements: List of documents and information to be provided
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