HTML Preview Client Letter Of Intent page number 1.
3026OwenDrive,Suite104
Antioch,TN37013
P:615‐641‐4050F:615‐641‐2219
www.lightwavesolar.com
1
Letter of Intent
LightWave Solar System Finance with Greener Product LLC
Parties
The parties to this Letter of Intent (“Letter” or
“LOI”
)
are:
Client: _____________________________________________________________________ (“Client”)
located at __________________________
_____________________________________________,
and
Greener Product LLC (“GP”) located at 8761 Dorchester Road, North Charleston, SC 29420, and
LightWave Solar Electric LLC(“Contractor”) located at 3026 Owen Drive, Suite 104, Antioch, TN
37013.
The above named individuals, referred to collectively as the Parties to
t
h
i
s
“Letter,” and
individually as a “Party,” wish to agree to the following
:
Provisions
This Letter sets forth certain non-binding understandings and certain binding commitments between the
Parties.
1. Except for the confidentiality and non-disclosure provision
of
Paragraphs 16 and 17 below, this
Letter is non-binding on either Party. Instead it
s
et
s
forth their desires and intentions with respect to
one or more solar PV systems (“System” or “Systems”) for the Client’s premises and
t
h
ei
r
intention to negotiate in good faith during an exclusive period of 120 days, commencing
w
it
h
execution of this Letter, to reach a then binding agreement consisting of one or
mor
e
specific
agreements (together, the “Lease”) to be mutually
agr
e
ed.
2. The System(s) will be financed, owned and operated by GP who may also own one or more similar
systems.
3. The Contractor will conduct a site assessment, prepare a proposal, and design and install the
System(s) for the designated site(s) consistent within recognized industry guidelines, regulations and
good industry practices.
4. The Client wishes to have the System(s) on its premises and share in the
revenues
generated by
the system(s) for a period of time, anticipated to be from ten to twenty years.
5. The transaction contemplated by this Letter is a lease
ag
ree
men
t
(“Lease) between the Client
and GP. The Parties agree to negotiate the terms
of
definitive agreements that will govern the
Lease, and the Lease-related agreements
are
expected to include terms regarding the Lease, a Site
Lease regarding use of and access
t
o
the Client’s property, a non-compete/non-circumvent
agreement, and any other terms appropri
at
e,
necessary and desirable for a transaction of the type