1. Due Diligence: Required for complex assets where investigation rights are needed before exercise

2. Security: Needed when collateral or security is required for the option

3. Non-Competition: Used when restrictions on competitive activities are necessary

4. Tax Provisions: Required for transactions with significant tax implications

5. Regulatory Approvals: Necessary when the exercise of the option requires regulatory consent

6. Break Fee: Used when compensation is required if the option is not exercised

7. Third Party Rights: Required when third party rights need to be addressed or excluded

1. Form of Exercise Notice: Template notice for exercising the option

2. Description of Option Property: Detailed description of the subject matter of the option

3. Completion Requirements: List of documents and actions required upon exercise

4. Warranties: Detailed warranties applicable upon exercise of the option

5. Pre-Agreed Form Documents: Forms of any additional agreements to be entered into upon exercise