letter of intent

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letter of intent

Formal written notice given by one party to another of a commitment to pursue an action, e.g., of a plan to bring suit against another party or to take on an assignment on behalf of that party.
References in periodicals archive ?
Simply put, because of several instances where unusual circumstances made the courts look past an express statement of nonbinding intent, parties using letters of intent must be concerned that any partial performance, contemporaneous statements, or other actions may be construed to overcome explicitly stated nonbinding intentions.
According to the Letters of Intent, Gastem will conclude a farm-in agreements with Junex on the St-Simon exploration play, located near St-Hyacinthe, and with Petrolia on its Gaspe exploration project located in the Gaspe Peninsula.
We expect to sign a longer term Distribution Agreement with each of the above companies, once the Letters of Intent come to term", said Mr.
These Letters of Intent now give us the critical mass to attract leading international advertisers and further enhance our first-mover advantage.
4 million in bookings, awards and letters of intent during the fourth quarter of fiscal 2002.
Jones' clients have received their letters of intent to fund and are currently engaged in the required due diligence investigation and review.