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Commercial Letter Of Intent To Purchase

Commercial Letter Of Intent To Purchase Template for Denmark

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Commercial Letter Of Intent To Purchase

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Document background
The Commercial Letter of Intent to Purchase is a crucial preliminary document used in Danish business transactions to formally express a serious intention to purchase assets, property, or an entire business. This document type is particularly relevant when parties want to outline the main terms of a proposed transaction before proceeding with detailed due diligence and negotiating final agreements. While governed by Danish law and typically non-binding except for specific provisions (such as confidentiality and exclusivity), it serves as an important tool for establishing the framework of the transaction, demonstrating commitment, and securing initial agreements on key terms. The document helps parties avoid misunderstandings and provides a roadmap for the transaction while often being required for securing financing or board approvals. It's commonly used in various commercial contexts, from real estate acquisitions to company mergers, and must comply with Danish contract law principles and commercial practices.
Suggested Sections

1. Letter Date and Addresses: Date of the letter and full legal names and addresses of both sender and recipient

2. Subject Line: Clear indication that this is a Letter of Intent to Purchase [specific asset/business]

3. Opening Statement: Brief introduction stating the purpose of the letter and confirming the sender's interest in the purchase

4. Transaction Overview: Clear description of what is being purchased and the basic structure of the proposed transaction

5. Purchase Price and Payment Terms: Proposed purchase price, payment structure, and any contingencies

6. Key Timeline: Proposed timeline for due diligence, negotiation of definitive agreements, and closing

7. Due Diligence: Overview of the due diligence process and requirements

8. Confidentiality: Statement regarding the confidential nature of the discussions and any reference to existing NDAs

9. Non-Binding Nature: Clear statement about which provisions are non-binding and which (if any) are binding

10. Closing: Signature blocks and formal closing of the letter

Optional Sections

1. Exclusivity Period: Used when the seller is requested to negotiate exclusively with the potential buyer for a specified period

2. Conditions Precedent: Include when there are specific conditions that must be met before proceeding with the transaction

3. Break Fee: Used in larger transactions where compensation is required if either party backs out under certain circumstances

4. Financing Contingency: Include when the purchase is dependent on the buyer securing specific financing

5. Governing Law and Jurisdiction: While often included, this can be optional in a non-binding LOI

6. Cost Allocation: Include when there's a need to specify how transaction costs will be allocated between parties

Suggested Schedules

1. Key Assets Schedule: High-level list of main assets or business components included in the proposed purchase

2. Initial Due Diligence Checklist: Preliminary list of documents and information required for due diligence

3. Transaction Timeline: Detailed timeline showing key milestones and deadlines

4. Price Calculation Methodology: If the purchase price includes adjustments or earn-outs, outline the calculation method

Authors

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Relevant Industries
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Relevant Roles
Industries
Danish Contracts Act (Aftaleloven): The fundamental law governing contract formation, validity, and enforcement in Denmark. Particularly relevant for establishing the binding nature of the LOI and its terms.
Danish Sale of Goods Act (Købeloven): Regulates commercial sales transactions in Denmark. Important for defining terms related to the intended purchase, especially if the LOI involves goods.
Danish Marketing Practices Act (Markedsføringsloven): Relevant for ensuring fair business practices and good faith in commercial negotiations, including pre-contractual discussions.
Danish Administration of Justice Act (Retsplejeloven): Important for dispute resolution provisions and enforcement mechanisms that might be included in the LOI.
EU General Data Protection Regulation (GDPR): Relevant if the LOI involves processing of personal data or transfer of business information containing personal data.
Danish Competition Act (Konkurrenceloven): Must be considered if the intended purchase could have implications for market competition or involve merger control requirements.
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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