Don't get too literal with the LOI. We often use g
Post# of 75384
Posted On: 09/13/2016 11:41:05 AM
Don't get too literal with the LOI. We often use general and non-specific terms, phrases, and wording as much as possible as a protection while still making the option attractive in value to the seller.
It is meant to show "intent" as in this is what, as potential purchasers, we are willing to explore and upon DD, see how we define it in the PO.
How much they will put into the business is difficult to define in a PO. Obviously if they put in an offer, they will follow up with sufficient funds to operate and grow the company. It's in their best interest.
But I know I wouldn't spell out exact numbers even in a PO because it's trying to predict the future too much. They will specify other dollar amounts, like how much to pay Jerry.
Just sit back and let the 30 days play out. Trying to read into the LOI and reading the minds of Li and company will give you a headache. It's progress, so let's be happy with that.
It is meant to show "intent" as in this is what, as potential purchasers, we are willing to explore and upon DD, see how we define it in the PO.
How much they will put into the business is difficult to define in a PO. Obviously if they put in an offer, they will follow up with sufficient funds to operate and grow the company. It's in their best interest.
But I know I wouldn't spell out exact numbers even in a PO because it's trying to predict the future too much. They will specify other dollar amounts, like how much to pay Jerry.
Just sit back and let the 30 days play out. Trying to read into the LOI and reading the minds of Li and company will give you a headache. It's progress, so let's be happy with that.
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