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Assignable Option Agreement Template for Belgium

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Key Requirements PROMPT example:

Assignable Option Agreement

"I need an Assignable Option Agreement for a Belgian real estate development project, giving us the right to purchase a commercial property in Brussels for 鈧5 million, exercisable until March 2025, with the ability to assign the option to any of our subsidiary companies."

Document background
The Assignable Option Agreement is a strategic legal instrument used when parties wish to create future transaction rights while maintaining flexibility through transfer options. This document is particularly valuable in commercial contexts where the ability to assign rights adds significant value to the option itself. Typically employed in corporate transactions, real estate deals, or asset acquisitions in Belgium, it provides a structured framework for both the original option grant and subsequent assignments. The agreement must comply with Belgian legal requirements, particularly regarding contract formation and assignment of rights under the Belgian Civil Code. It includes detailed provisions on exercise mechanics, price determination, assignment procedures, and any conditions or restrictions on transferability. This type of agreement is commonly used when the original option holder may want to monetize their rights or transfer them to another entity before exercise, making it particularly useful in investment and development scenarios.
Suggested Sections

1. Parties: Identification of the option grantor and grantee, including full legal names and addresses

2. Background: Context of the agreement, relationship between parties, and purpose of the option arrangement

3. Definitions and Interpretation: Key terms used throughout the agreement, including Option, Exercise Period, Strike Price, and Assignment Rights

4. Grant of Option: Clear statement of the option being granted, including its nature (call/put) and subject matter

5. Option Period: Duration of the option, including start date, end date, and any extension provisions

6. Exercise Price and Payment Terms: Specification of the strike price and detailed payment mechanics upon exercise

7. Exercise Procedure: Step-by-step process for exercising the option, including notice requirements and timing

8. Assignment Rights: Terms and conditions for assigning the option, including any restrictions or requirements

9. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority

10. Termination: Circumstances under which the agreement can be terminated and consequences

11. Governing Law and Jurisdiction: Confirmation of Belgian law application and jurisdiction for disputes

12. Notices: Format and delivery requirements for all formal communications

13. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments

Optional Sections

1. Security Arrangements: Required if any form of security is needed to guarantee option obligations

2. Pre-emptive Rights: Included when existing shareholders or third parties have pre-emptive rights that need to be addressed

3. Regulatory Compliance: Required for options involving regulated assets or requiring regulatory approvals

4. Tax Provisions: Detailed tax treatment and obligations when specific tax structures are relevant

5. Assignment Approval Process: Detailed procedures when assignment requires specific approvals or conditions

6. Valuation Mechanism: Included when the option price needs to be determined by a specific valuation process

7. Competition Provisions: Required when the option exercise could have competition law implications

Suggested Schedules

1. Schedule 1 - Option Exercise Notice: Template form for exercising the option

2. Schedule 2 - Assignment Notice: Template form for notifying assignment of the option

3. Schedule 3 - Description of Option Subject Matter: Detailed description of assets, shares, or rights subject to the option

4. Schedule 4 - Calculation of Option Price: Formula or methodology for determining the option price if variable

5. Schedule 5 - Required Consents: List of required third-party or regulatory consents

6. Appendix A - Deed of Adherence: Template for assignees to become bound by the agreement terms

7. Appendix B - Corporate Approvals: Copies of relevant corporate authorizations and approvals

Authors

Alex Denne

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

Relevant legal definitions










































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Relevant Industries

Real Estate

Financial Services

Manufacturing

Technology

Energy

Mining

Agriculture

Retail

Private Equity

Venture Capital

Infrastructure

Healthcare

Telecommunications

Relevant Teams

Legal

Finance

Business Development

Corporate Development

Mergers & Acquisitions

Risk Management

Commercial

Compliance

Treasury

Real Estate

Relevant Roles

Legal Counsel

Corporate Lawyer

Business Development Manager

Chief Financial Officer

Investment Manager

Real Estate Developer

Commercial Director

Mergers & Acquisitions Director

Contract Manager

Risk Manager

Company Secretary

General Counsel

Transaction Lawyer

Asset Manager

Portfolio 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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