Call option—fixed price plus indexation incorporating the Standard Commercial Property Conditions (Third Edition)
Call option—fixed price plus indexation incorporating the Standard Commercial Property Conditions (Third Edition)

The following Property precedent provides comprehensive and up to date legal information covering:

  • Call option—fixed price plus indexation incorporating the Standard Commercial Property Conditions (Third Edition)
  • 1 Definitions
  • 2 Interpretation
  • 3 Grant of Option
  • 4 Right of access
  • 5 Alienation
  • 6 Registration of the Option
  • 7 Seller not to further encumber
  • 8 Exercising the Option
  • 9 Deposit
  • More...

date [date]

Parties

  1. 1

    [name of Seller] [of OR incorporated in England and Wales with company registration number [number] whose registered address is at] [address] [and whose address for service in England and Wales is [address]] (Seller)

  1. 2

    [name of Buyer] [of OR incorporated in England and Wales with company registration number [number] whose registered address is at] [address] [and whose address for service in England and Wales is [address]] (the Buyer)

    1. 1

      Definitions

      In this Agreement the following definitions apply:

      Actual Completion

      1. the date that the Transfer is actually completed, and references in the Standard Conditions to 'actual completion' must be read accordingly;

      [Base Price

      1. £[amount];]

      Buyer’s Solicitors

      1. [name] of [address] reference [details] or any other solicitors the Buyer notifies to the Seller in writing;

      [Charge[s]

      1. the charge[s] appearing at entry [number] [and [number]] in the charges register of title number [title number] as at [date and time of official copy entries].]

      Completion Date

      1. the date which is [10] Working Days after:

        1. (a)

          the date on which the Buyer serves the Option Notice; [or]

        2. (b)

          if the calculation of the Price is referred to an arbitrator for determination pursuant to paragraph 1.3 of Schedule 1, the date on which the arbitrator issues their decision;

      Deposit

      1. £[amount];

      [Independent Surveyor

      1. an independent chartered surveyor with at least 10 years’ experience of valuing properties comparable to the Property;]

      [Index

      1. the ‘all items’ [Retail OR Consumer] Prices Index published

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