$65.00
Letters of intent frame the material terms of business and commercial transactions. They outline with considerable detail the substantive terms of the underlying agreement – price, reps and warranties, closing conditions, etc. They also provide a process by which a definitive underlying agreement will be finalized. But they are not, generally, intended to be definitive agreements themselves; not enforceable, only a substantial starting point. There is, however, a certain point at which the detail in these letters becomes so extensive that they become enforceable. This program will provide you with a practical guide to the most important substantive and process aspects of letters of intent, their uses and traps, including unexpected enforceability.
Drafting effective letters of intent in transactions
Purposes of letters, timing, relationship to diligence, exclusivity
Substantive terms v. process terms
Indemnity, hold back and limitation of liability provisions
Termination of a letter and survival of certain provisions
Understanding the point at which letters of intent may become enforceable
Speaker:
Stephanie Molyneaux is an attorney in the Washington, D.C. office of Venable, LLP, where she assists clients with a wide variety of transactional matters. Her experience includes mergers and acquisitions, corporate governance, contractual agreements, technology transactions, licensing, and intellectual property transactions.