Letter Of Intent Ending Template for Austria

A Letter of Intent Ending document is utilized when parties need to formally conclude their preliminary business arrangements outlined in a Letter of Intent. This document type is particularly relevant in the Austrian legal context, where it must comply with specific provisions of the Austrian Civil Code (ABGB) and Commercial Code (UGB). It is commonly used in situations where business negotiations or preliminary agreements need to be terminated before proceeding to final contracts, or when parties decide not to proceed with the contemplated transaction. The document typically includes clear termination statements, addresses any surviving obligations, handles confidentiality matters, and manages potential liabilities. Under Austrian law, special attention must be paid to pre-contractual liability principles and good faith requirements when drafting and executing a Letter of Intent Ending.

1. Recipient Details: Full name, title, and address of the recipient party

2. Reference Information: Details of the original LOI including date, parties, and subject matter

3. Statement of Termination: Clear and unambiguous statement of intention to terminate the LOI

4. Effective Date: Specification of when the termination takes effect

5. Basis for Termination: Reference to relevant termination provisions in the original LOI or circumstances warranting termination

6. Outstanding Obligations: Statement addressing any incomplete or ongoing obligations under the LOI

7. Confidentiality Reminder: Reaffirmation of any continuing confidentiality obligations

8. Closing: Professional closing statement, signature block, and date