Acquisition of Lion Oil Sample Clauses

Acquisition of Lion Oil. In the event that, on or prior to the third (3rd) anniversary of the Closing Date, Buyer or its Affiliates acquire, through one or more transactions, a majority of the then outstanding Equity Interests of Lion Oil (computed on a fully diluted basis and after assuming exercise by Ergon, Inc. of its right to acquire additional capital stock of Lion Oil upon termination of the Ergon Management Agreement), then Buyer shall pay to Seller an amount (the “Lion Acquisition Fee”) equal to Fifteen Million Dollars ($15,000,000), without regard to the purchase price paid by Buyer or its Affiliates for such additional Equity Interests of Lion Oil.
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Related to Acquisition of Lion Oil

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  • Limitation on Out-of-State Litigation - Texas Business and Commerce Code § 272 This is a requirement of the TIPS Contract and is non-negotiable. Texas Business and Commerce Code § 272 prohibits a construction contract, or an agreement collateral to or affecting the construction contract, from containing a provision making the contract or agreement, or any conflict arising under the contract or agreement, subject to another state’s law, litigation in the courts of another state, or arbitration in another state. If included in Texas construction contracts, such provisions are voidable by a party obligated by the contract or agreement to perform the work. By submission of this proposal, Vendor acknowledges this law and if Vendor enters into a construction contract with a Texas TIPS Member under this procurement, Vendor certifies compliance.

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