This [Agreement OR DEED] is made on [insert day and month] 20[insert year] Parties 1 [insert name of buyer] [of [insert address] OR trading as [insert trading name] of [insert address] OR a firm whose principal place of business is [insert address of firm] OR [an LLP OR a company] incorporated in [insert place of incorporation, eg England and Wales] with registered number [insert registered number] whose registered office is at [insert address]] (the Buyer), and 2 [insert name of seller] [of [insert address] OR trading as [insert trading name] of [insert address] OR a firm whose principal place of business is [insert address of firm] OR [an LLP OR a company] incorporated in [insert place of incorporation, eg England and Wales] with registered number [insert registered number] whose registered office is at [insert address]] (the Seller). RECITALS (A) [Insert a recital that briefly explains the relationship between the seller and the buyer and the company that issued the call option shares, to the extent this is needed to explain why this agreement is being entered into]. (B) The Seller has agreed to grant the Buyer the Call Option

An option agreement is a contract for sale and must comply with the requirements of section 2 of the Law of Property (Miscellaneous Provisions) Act 1989. This means that it must: • be in writing • contain or incorporate all of the terms expressly agreed by the parties, and • be signed by or on behalf of the parties The trigger notice, however, is simply the activation of the option and so is not a contract for sale itself. Consequently, the trigger notice does not need to be signed by both parties. Exercising the option Call option agreements are strictly construed and the option may lapse if the option holder does not exercise it correctly. Time limits The option will usually specify that the grantee must exercise it within a specified period of time—for further guidance, see Practice Note: Option agreements—land—the need for a long-stop date. If the option is not exercised within that time then it will lapse, because time is of the essence: this will be implied even if it is not expressly stated. The option holder

date [date] Parties 1 [name of (first) Seller] [and [name of second Seller] both] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] [and whose address for service in England and Wales is [address]] (Seller) 2 [name of Buyer] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] [and whose address for service in England and Wales is [address]] (Buyer) 1 Definitions In this Agreement, the following definitions apply: Buyer's Solicitors • [name] of [address] (reference [details]) or any other solicitors the Buyer notifies to the Seller; Competent Authority • any: (a) local authority, government department or other body or person exercising powers under statute or by Royal Charter; or (b) utility service or supply company; Conduits • any media and associated equipment for conducting energy, data or substances; Cut Off Date • [date] [(subject to any postponement of that date in accordance with paragraph 2.1 of Schedule 2)]; Deposit • [[figure]%

date [date] Parties 1 [name of Landlord] [of OR incorporated in England and Wales (company registration number [number]) whose registered office address is at] [address] (Landlord) 2 [name of Tenant] [of OR incorporated in England and Wales (company registration number [number]) whose registered office address is at] [address] (Tenant) 1 Definitions In this Agreement, the following definitions apply: Deposit • £[amount]; Independent Surveyor • 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; Interest • interest at a rate of [4]% per annum over the base rate of [name of bank]; Landlord’s Solicitors • [name] of [address] (reference [details]) or any other solicitors the Landlord notifies to the Tenant; Lease • a lease of the Property in the form attached to this Agreement at Appendix 4 (subject to any amendments required by Legislation or agreed between the parties); Legislation • all legislation in force in the United Kingdom at any time during the currency of this Agreement, including: (a) Acts of Parliament; (b) orders, regulations, consents, licences, notices and bye laws made or granted: (i) under any Act of Parliament; (ii) by a local

date [date] Parties 1 [name of (first) Seller] [and [name of second Seller] both] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] [and whose address for service in England and Wales is [address]] (Seller) 2 [name of Buyer] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] [and whose address for service in England and Wales is [address]] (Buyer) 1 Definitions In this Agreement, the following definitions apply: Buyer's Solicitors • [name] of [address] (reference [details]) or any other solicitors that the Buyer notifies to the Seller; Competent Authority • any: (a) local authority, government department or other body or person exercising powers under statute or by Royal Charter; or (b) utility service or supply company; Conduits • any media and associated equipment for conducting energy, data or substances; Cut Off Date • [date] [(subject to any postponement of that date in accordance with paragraph 2.1 of Schedule 2)]; Deposit • £[amount in figures] [([amount

date [date] Parties 1 [name of (first) Seller] [and [name of second Seller] both] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (Seller) 2 [name of Buyer] [of OR incorporated in England and Wales (company registration number [number]) whose registered office is at] [address] (Buyer) 1 Definitions In this Agreement, the following definitions apply: Buyer’s Solicitors • [name] of [address] (reference [details]) or any other solicitors that the Buyer notifies to the Seller; Deposit • £[amount in figures] [([amount in words] pounds)]; [Independent Surveyor • 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;] Interest • interest at a rate of [4]% per annum over the base rate of [name of bank]; Legislation • all legislation in force in the United Kingdom at any time during the currency of this Agreement, including: (a) Acts of Parliament; (b) orders, regulations, consents, licences, notices and bye laws made or granted: (i) under any Act of Parliament; (ii) by a local authority or by a court of competent jurisdiction; (c) any approved codes of practice issued by a statutory

Any equipment capable of switching two-way live speech telephone calls between two or more exchange lines and two or more extensions, such as PBXs, Automatic Call Distribution equipment and key telephone systems.

A subscriber, engaged on an existing call, is given an indication that another caller is attempting to obtain connection. Call waiting service gives the option of ending on holding the original call to take the new one.

In this Practice Note, references to ‘Secretary of State’ include Welsh Ministers and any differences in policy or legislation are identified. What is a 'called-in application'? Most planning applications and applications for listed building consent are decided locally by the relevant local planning authority (LPA) for the area. However, the Secretary of State has reserve powers to direct the LPA to refer an application to the Secretary of State for a decision, rather than leave the determination to the LPA. This is known as a power of ‘call-in’. The Secretary of State only calls-in a small percentage of planning applications. It is important to note that there is no legal obligation for the Secretary of State to use his call-in powers. Legal basis for call-in The power of call-in originates in: • section 77 of the Town and Country Planning Act 1990 (TCPA 1990), in respect of applications for planning permission or permission in principle. TCPA 1990, s 77 applies in Wales in respect of applications called-in by the Welsh Ministers, although the policy is slightly

The practice, under a framework agreement, of instructing specific works to be carried out. Depending on the structure and terms of the framework agreement, call-off may require a contract to be entered into or may just require a call off notice to be given by the instructing party.

STOP PRESS: As of 24 February 2025, the main provisions of the Procurement Act 2023 (PA 2023) are in force. Procurements begun on or after this date must be carried out under PA 2023, whereas those begun under the previous legislation (the Public Contracts Regulations 2015 (PCR 2015), the Utilities Contracts Regulations 2016, the Concession Regulations 2016, and the Defence and Security Public Contracts Regulations 2011) must continue to be procured and managed under that legislation. See Practice Note: Introduction to the Procurement Act 2023—PA 2023. PCR 2015 as assimilated law PCR 2015 are EU-derived domestic legislation and therefore assimilated law under sections 2 and 6 of the European Union (Withdrawal) Act 2018. For practical guidance on the status and interpretation of assimilated law, see Practice Note: Assimilated law. Legal regime Framework agreements are used increasingly for the procurement of works, services and supplies. Their uses range from calling-off construction contracts for works, to a particular development site under a single-provider framework, to the use of a multiple-provider

A bond on which the issuer has the option to redeem prior to the date of maturity.