Call option—market value incorporating the Standard Commercial Property Conditions (Third Edition)
Call option—market value incorporating the Standard Commercial Property Conditions (Third Edition)

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

  • Call option—market value 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]] (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;

      Buyer’s Solicitors

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

      [Charge[s]

      1. the charge[s] appearing at entry [number] [and [number]] on 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 the Price is agreed or determined in accordance with clause 10;

      Interest

      1. interest at a rate of [4]% per annum over the base rate of [name of bank], and reference in the Standard Conditions to ‘contract rate’ must be construed accordingly;

      Deposit

      1. £[amount];

      Independent Valuer

      1. an independent chartered surveyor who has at least [10] years’ experience of valuing property of a comparable type and in a comparable location to the Property acting as

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