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Call Option Deed
"I need a Call Option Deed for a real estate development project where my company will have the right to purchase three adjacent commercial properties in Auckland CBD from multiple owners, with the option period running until March 2025 and including staged exercise rights."
1. Parties: Identifies and defines the Grantor (option seller) and Grantee (option holder), including full legal names and addresses
2. Background: Sets out the context of the agreement and the parties' intentions regarding the option arrangement
3. Definitions and Interpretation: Defines key terms used throughout the deed and establishes interpretation principles
4. Grant of Option: Specifies the terms of the option grant, including the option period and any conditions precedent
5. Option Fee: Details the amount payable for the option and payment terms
6. Exercise of Option: Describes the process and requirements for exercising the option, including notice requirements
7. Purchase Price: Specifies the price payable upon exercise of the option or the mechanism for determining it
8. Completion: Sets out the completion process, including timing, obligations, and deliverables
9. Warranties: Contains representations and warranties from both parties
10. Default and Termination: Addresses consequences of default and circumstances for termination
11. Confidentiality: Establishes obligations regarding confidential information
12. General Provisions: Standard boilerplate clauses including notices, governing law, and dispute resolution
1. Security: Required when the option fee or obligations are secured by other assets or guarantees
2. GST Provisions: Detailed GST treatment where the underlying asset is subject to GST
3. Overseas Investment Provisions: Required when foreign investors are involved and OIA approval may be needed
4. Multiple Grantees: Special provisions for when there are multiple option holders
5. Pre-emptive Rights: Needed when the option is subject to existing pre-emptive rights
6. Mortgagee Consent: Required when the underlying asset is mortgaged
7. Due Diligence: Included when the grantee has due diligence rights during the option period
1. Schedule 1 - Subject Matter Description: Detailed description of the asset(s) subject to the option (e.g., property details, company shares)
2. Schedule 2 - Option Exercise Notice: Pro forma notice for exercising the option
3. Schedule 3 - Form of Sale and Purchase Agreement: The agreement to be entered into upon exercise of the option
4. Schedule 4 - Option Fee Payment Schedule: If the option fee is payable in installments
5. Schedule 5 - Warranties: Detailed warranties relating to the subject matter of the option
6. Appendix A - Property Plans: For property-related options, relevant plans and drawings
7. Appendix B - Required Consents: List of third-party consents required for completion
Authors
Real Estate
Commercial Property
Financial Services
Mining and Resources
Agriculture
Manufacturing
Technology
Retail
Professional Services
Infrastructure
Energy
Legal
Property
Commercial
Finance
Business Development
Investment
Compliance
Corporate Affairs
Real Estate
Mergers and Acquisitions
Strategy
Legal Counsel
Property Manager
Commercial Director
Chief Financial Officer
Business Development Manager
Investment Manager
Real Estate Manager
Corporate Lawyer
Property Developer
Asset Manager
Transaction Manager
Company Director
General Counsel
Compliance Officer
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