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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."
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
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
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
Real Estate
Financial Services
Manufacturing
Technology
Energy
Mining
Agriculture
Retail
Private Equity
Venture Capital
Infrastructure
Healthcare
Telecommunications
Legal
Finance
Business Development
Corporate Development
Mergers & Acquisitions
Risk Management
Commercial
Compliance
Treasury
Real Estate
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
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