Pre-emption agreement incorporating the Standard Commercial Property Conditions (Third Edition)

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

  • Pre-emption agreement incorporating the Standard Commercial Property Conditions (Third Edition)
  • 1 Definitions
  • 2 Interpretation
  • 3 Grant of Pre-emption Right
  • 4 Right of access
  • 5 Alienation
  • 6 Registration of the Pre-emption Right
  • 7 Pre-emption procedure
  • 8 Exercise of the Pre-emption Right
  • 9 Deposit
  • More...

Pre-emption agreement incorporating the Standard Commercial Property Conditions (Third Edition)

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](Seller)

  1. 2

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

    1. 1

      Definitions

      In this Agreement, the following definitions apply:

      Actual Completion

      1. the date on which the sale of the Property (or such part of the Property as remains unsold following a Disposal of part of the Property to a third party in accordance with clause 19) to the Buyer actually takes place, and references in the Standard Conditions to 'actual completion' must be read accordingly;

      Acceptance Notice

      1. the duplicate Offer Notice receipted by the Buyer as set out in Schedule 2;

      Buyer’s Solicitors

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

      Completion Date

      1. [20] Working Days after the date of service of the Acceptance Notice by the Buyer on the Seller;

      Contract Rate

      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. a deposit of [10]% of the Price;]

      Disposal

      1. a sale, gift, exchange, transfer, grant, declaration of trust or lease [except for a term not exceeding

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