Indicative Term Sheet Sample Clauses
An Indicative Term Sheet is a non-binding document that outlines the key terms and conditions of a potential transaction between parties. It typically summarizes important elements such as the purchase price, payment structure, timelines, and any major contingencies or conditions precedent. By providing a clear framework for negotiations, the Indicative Term Sheet helps both parties understand the main commercial points before committing to a formal agreement, thereby streamlining the negotiation process and reducing misunderstandings.
Indicative Term Sheet. Banro Corporation will issue 1,200,000 Preferred Shares, Series B (the “Series B Shares”) to BlackRock World Mining Trust plc (“BlackRock”), and Banro Group (Barbados) Limited (the “Company”) will issue 1,200,000 Preferred Shares (the “Barbados Preferred Shares”) to BlackRock. The issue price of one Series B Share and one Barbados Preferred Share shall be US$25 in aggregate. Banro will reimburse BlackRock’s out of pocket fees and expenses (including fees and expenses of counsel, including BlackRock’s Canadian and Barbados counsel) in connection with the transaction, regardless of whether the transaction closes, and will pay a fee to BlackRock at closing equal to 1.0% of the aggregate gross proceeds of the Series B Shares and the Barbados Preferred Shares being issued to BlackRock.