Put option—fixed price or market value incorporating the Standard Commercial Property Conditions (Third Edition)
Put option—fixed price or market value incorporating the Standard Commercial Property Conditions (Third Edition)

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

  • Put option—fixed price or market value incorporating the Standard Commercial Property Conditions (Third Edition)
  • Parties
  • The ScheduleConditions
  • Appendix 1Plan
  • Appendix 2Transfer
  • Appendix 3 [Valuation Notice
  • Appendix 4Option Notice

This Agreement is made on [date]

Parties

  1. 1

    [insert name of Seller][ of [insert address] OR incorporated in England and Wales with company registration number [insert company registration number] whose registered office is at [insert address]] (the Seller);

  1. 2

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

  1. 1

    Definitions

  2. In this Agreement the following definitions apply:

    Buyer’s Solicitors

    1. [insert firm name] of [insert firm address] (reference [insert reference]) or such other solicitors as the Buyer may notify to the Seller in writing from time to time;

    Completion

    1. the transfer of the Property by the Seller to the Buyer;

    Completion Date

    1. the date that is [20] Working Days after service of the Option Notice;

    Conditions

    1. the terms and conditions of sale set out in the Schedule;

    [Contaminated Land Regime

    1. means the contaminated land regime set out in Part IIA of the Environmental Protection Act 1990 and the Statutory Guidance;]

    [Contamination

    1. the presence or accumulation of any Hazardous Substances at, in, on or under the Property;]

    [Deposit

    1. £[insert sum];]

    [Environment

    1. all or any of the following: air (including the air within buildings), water (including surface