This template is a letter of intent for a contemplated transaction involving the purchase and/or development of a natural gas storage facility project. It may also be used for developing natural gas gathering facilities. It outlines key terms of a future definitive agreement, but is not a binding agreement itself. This template includes practical guidance, drafting notes, and optional clauses. When parties are interested in entering into a commercial agreement they often begin discussions by trading draft letters of intent that outline key headline terms to the eventual definitive agreement. Letters of intent may go into significant detail regarding the proposed transaction, but are generally non-binding. While they may show the general outline of a proposed transaction, specific terms may change in the due diligence process, or as economic realities change as the parties get closer to consummation of the ultimate transaction. While generally non-binding, letters of intent are still ...