Common use of Acceptance of Firm Offer Clause in Contracts

Acceptance of Firm Offer. At any time during the Offer Period, any Offeree may accept the Firm Offer as to all or any portion of the Offered Units, by giving written notice of such acceptance to the Seller and each other Offeree, which notice shall indicate the maximum number of Equity Units that such Offeree is willing to purchase, such number not to exceed the product of (i) the Sharing Ratio of such Offeree, multiplied by (ii) the number of Offered Units. If at the end of the Offer Period, the Offerees accepting the initial Firm Offer (the “Accepting Offerees”), in the aggregate, accept the Firm Offer with respect to less than all of the Offered Units, such remaining portion of the Offered Units shall be offered to the Accepting Offerees for an additional 30-day period. If there are two or more Accepting Offerees who accept this second offer and they desire to acquire in the aggregate a total number of Offered Units in excess of the remaining portion available, then the remaining portion of the Offered Units shall be allocated to such Accepting Offerees pro rata based on the number of Offered Units such Accepting Offerees elected to purchase in the initial Firm Offer, or in such manner as otherwise agreed to among the Accepting Offerees. If the Offerees do not accept the Firm Offer as to all of the Offered Units during the Offer Period, including such additional 30-day period, then the Firm Offer shall be deemed to be rejected.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Williams Companies Inc), Limited Liability Company Agreement (Energy Transfer Equity, L.P.), Agreement and Plan of Merger

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Acceptance of Firm Offer. At any time during the thirty (30) days of the Offer Period, any Offeree may accept the Firm Offer as to all or any portion of the Offered UnitsInterest, by giving written notice of such acceptance to the Seller and each other Offeree, the General Partner which notice shall indicate the maximum number of Equity Units Interests that such Offeree is willing to purchase, such number not to exceed . In the product of event that within the first thirty (i30) the Sharing Ratio of such Offeree, multiplied by (ii) the number of Offered Units. If at the end days of the Offer Period, the Offerees accepting the initial Firm Offer (the “Accepting Offerees”"ACCEPTING OFFEREES"), in the aggregate, accept the Firm Offer with respect to less than all of the Offered UnitsInterests, the Firm Offer shall be deemed to be accepted and each such remaining Accepting Offeree shall be deemed to have accepted that portion of the Offered Units shall be offered Interests that corresponds to the ratio of the Interests that such Accepting Offerees for an additional 30-day periodindicated a willingness to purchase. If there are two or more Accepting In the event that Offerees who accept this second offer and they desire to acquire including the General Partner ("ACCEPTING OFFEREES"), in the aggregate a total number of Offered Units in excess of aggregate, accept the remaining portion available, then the remaining portion Firm Offer with respect to all of the Offered Units Interest, the Firm Offer shall be allocated to such Accepting Offerees pro rata based on the number of Offered Units such Accepting Offerees elected to purchase in the initial Firm Offer, or in such manner as otherwise agreed to among the Accepting Offereesdeemed accepted. If the Offerees do not accept the Firm Offer as to all of the Offered Units Interest during the Offer Period, including such additional 30-day period, then the Firm Offer shall be deemed to be rejectedrejected in its entirety.

Appears in 1 contract

Samples: Agreement (American Homestar Corp)

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Acceptance of Firm Offer. At any time during the Offer Period, any Offeree may accept the Firm Offer (“Accepting Offeree”) as to all or any portion of the Offered UnitsInterest, by giving written notice of such that acceptance to the Seller and each other Offeree, which notice shall will indicate the maximum number of Equity Units that such the Accepting Offeree is willing to purchase, such number not to exceed the product of (i) the Sharing Ratio of such Offeree, multiplied by (ii) the number of Offered Units. If at the end of the Offer Period, the Offerees accepting the initial Firm Offer (the “Accepting Offerees”), in the aggregate, accept the Firm Offer with respect to less than all of the Offered Units, such remaining portion of the Offered Units shall be offered to the Accepting Offerees for an additional 30-day period. If there are two or more Accepting Offerees who accept this second offer and they desire to acquire in the aggregate a total number of Offered Units in excess of the remaining portion available, then the remaining portion of the Offered Units shall be allocated to such Accepting Offerees pro rata based on the number of Offered Units such Accepting Offerees elected to purchase in the initial Firm Offer, or in such manner as otherwise agreed to among the Accepting Offerees. If the Offerees do not accept the Firm Offer as to all of the Offered Units during the Offer Period, including such additional 30-day period, then the Firm Offer shall will be deemed rejected in its entirety. If Accepting Offerees, in the aggregate, indicate the maximum number of Units that they are willing to accept equals all (but not more than all) of the Offered Units, the Finn Offer will be accepted, and each Accepting Offeree will have accepted the Firm Offer as to the maximum number of Offered Units that the Accepting Offeree indicated a willingness to purchase. If Accepting Offerees, in the aggregate, indicate the maximum number of Units that they are willing to accept equals more than all of the Offered Units, the Firm Offer will be accepted and each Accepting Offeree will be deemed to be rejectedhave accepted the Firm Offer as to that number of Offered Units that equals (i) the total number of Offered Units multiplied by (ii) the ratio of (x) the maximum number of Offered Units that the Accepting Offeree indicated a willingness to purchase divided by (y) the aggregate of the maximum number of Offered Units that all Accepting Offerees indicated a willingness to purchase.

Appears in 1 contract

Samples: Operating Agreement (GLCC Laurel, LLC)

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