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It is not legally binding. Thus, . Crested Gecko Calcium Sacs, WHAT IS AN LOI? | WHAT DOES LETTER OF INTENT MEAN?. An agreed upon Letter of Intent is used to indicate that both parties have agreed to move forward to lease or sell a specific property, building or space. Custom Cornhole Wraps, Letter of Intent Fundamentals | Whitman Legal Solutions, LLC. Feb 3, 2020 — . an LOI isn't legally binding, a tenant can move on to a different rental space if they aren't able to negotiate an acceptable lease–just . Dark Green Car Wrap, Letters of Intent in Commercial Lease Negotiations. Letters of intent can be binding, non-binding or include some binding provisions. The typical commercial lease letter of intent will include some or all of . Dirt Late Model Wraps, Commercial Lease Negotiation: Letter of Intent to Rent. Unlike the lease agreement, a letter of intent is usually not a binding contract—neither party is obligated to accept the terms or repeat them in the eventual . 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