The Non-Binding Letter of Intent to Lease is a crucial preliminary document in Irish commercial property transactions, typically used when a prospective tenant has identified a suitable property and wishes to formally express their interest while reserving the right to negotiate final terms. This document serves as a roadmap for subsequent negotiations and helps establish the basic framework for the eventual lease agreement. It includes essential commercial terms such as proposed rent, lease duration, and intended use of the property, while explicitly stating its non-binding nature. Common in the Irish commercial real estate market, this document is particularly useful in complex lease negotiations where parties need to establish clear communication of intentions before committing to legal obligations and incurring significant costs in preparing formal lease documentation.
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1. Letterhead and Date: Full business details of the sender, including company name, address, and date
2. Recipient Details: Full name and address of the recipient
3. Subject Line: Clear identification as 'Non-Binding Letter of Intent to Lease [Property Address]'
4. Opening Statement: Introduction confirming intent to lease and non-binding nature of the letter
5. Property Details: Specific description and address of the property to be leased
6. Key Commercial Terms: Proposed main terms including rent, lease duration, and intended use
7. Timeline: Proposed timeline for negotiation, due diligence, and lease execution
8. Non-Binding Statement: Clear statement that this is not a legally binding commitment
9. Next Steps: Outline of the expected process moving forward
10. Closing and Signature: Professional closing, signature blocks for both parties
1. Condition Precedents: Any specific conditions that need to be met before proceeding with the lease, used when there are particular requirements or approvals needed
2. Exclusivity Period: Proposed period during which the landlord will not negotiate with other potential tenants, used when seeking exclusive negotiation rights
3. Cost Allocation: Proposed allocation of costs for lease preparation and related expenses, used when there's a need to clarify responsibility for transaction costs
4. Confidentiality: Terms regarding the confidential treatment of negotiations and information, used when dealing with sensitive commercial information
5. Break Options: Preliminary discussion of potential break clauses, used when early termination might be required
6. Fit-out Provisions: Basic terms regarding any tenant improvements or modifications, used when significant property modifications are anticipated
1. Floor Plan: Preliminary floor plan or property layout drawing
2. Initial Space Plan: Basic layout of how the tenant intends to use the space
3. Key Commercial Terms Summary: Detailed breakdown of the main commercial terms in table format
4. Timeline Schedule: Detailed timeline of key dates and milestones for the proposed transaction
Relevant legal definitions
Property
Premises
Proposed Lease Term
Intended Commencement Date
Base Rent
Permitted Use
Security Deposit
Common Areas
Operating Expenses
Service Charge
Fit-out Period
Due Diligence Period
Business Day
Landlord's Works
Tenant's Works
Exclusivity Period
Planning Permission
Building Insurance
BER Rating
Rates
VAT
Break Option
Car Parking Allocation
Utilities
Premises
Proposed Lease Term
Intended Commencement Date
Base Rent
Permitted Use
Security Deposit
Common Areas
Operating Expenses
Service Charge
Fit-out Period
Due Diligence Period
Business Day
Landlord's Works
Tenant's Works
Exclusivity Period
Planning Permission
Building Insurance
BER Rating
Rates
VAT
Break Option
Car Parking Allocation
Utilities
Clauses
Non-Binding Nature
Property Description
Commercial Terms
Rent
Lease Duration
Permitted Use
Due Diligence
Exclusivity
Confidentiality
Costs
Timeline
Conditions Precedent
Good Faith
Insurance Requirements
Utilities and Services
Alterations and Improvements
Maintenance
Assignment and Subletting
Break Options
Renewal Rights
Planning and Zoning
Landlord's Works
Tenant's Works
VAT
Property Description
Commercial Terms
Rent
Lease Duration
Permitted Use
Due Diligence
Exclusivity
Confidentiality
Costs
Timeline
Conditions Precedent
Good Faith
Insurance Requirements
Utilities and Services
Alterations and Improvements
Maintenance
Assignment and Subletting
Break Options
Renewal Rights
Planning and Zoning
Landlord's Works
Tenant's Works
VAT
Relevant Industries
Commercial Real Estate
Retail
Office Space
Industrial & Warehousing
Healthcare
Education
Hospitality
Technology
Financial Services
Professional Services
Manufacturing
Logistics
Entertainment & Leisure
Relevant Teams
Legal
Finance
Operations
Real Estate
Facilities
Business Development
Corporate Development
Risk Management
Procurement
Property Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Real Estate Director
Facilities Manager
Property Manager
Legal Counsel
Commercial Director
Operations Manager
Business Development Manager
Finance Director
Real Estate Agent
Property Consultant
Expansion Manager
Location Planning Manager
Corporate Real Estate Manager
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