Common use of Judicial Council Acceptance Clause in Contracts

Judicial Council Acceptance. If the Judicial Council notifies Licensee that, conditioned upon obtaining the necessary authorizations, it will accept the proposed offer, then the Judicial Council shall have one hundred twenty (120) calendar days from the date of said notification to satisfy said authorizations. If the Judicial Council fails to satisfy the condition in the preceding sentence within the one hundred twenty (120) calendar day period, then Licensee may sell the System to the offering party, conditioned upon meeting the conditions specified in Section 12.2. If the Judicial Council obtains the necessary authorizations within the one hundred twenty (120) calendar day period then the closing of the purchase shall take place as provided in the offer but no later than one hundred twenty (120) calendar days after the date of such authorizations.

Judicial Council Acceptance. If the Judicial Council notifies Licensee that, conditioned upon obtaining the necessary authorizations, it will accept the proposed offer, then the Judicial Council shall have one hundred twenty (120) calendar days from the date of said notification to satisfy said authorizations. If the Judicial Council fails to satisfy the condition in the preceding sentence within the one hundred twenty (120) calendar day period, then Licensee may sell the System to the offering party, conditioned upon meeting the conditions specified in Section 12.2section 12.3. If the Judicial Council obtains the necessary authorizations within the one hundred twenty (120) calendar day period period, then the closing of the purchase shall take place as provided in the offer but no later than one hundred twenty (120) calendar days after the date of such authorizations.

Judicial Council Acceptance. If the Judicial Council notifies Licensee that, conditioned upon obtaining the necessary authorizations, it will accept the proposed offer, then the Judicial Council shall have one hundred twenty (120) calendar days from the date of said notification to satisfy said authorizations. If the Judicial Council fails to satisfy the condition in the preceding sentence within the one hundred twenty (120) calendar day period, then Licensee may sell the System to the offering party, conditioned upon meeting the conditions specified in Section 12.2section 12.3. If the Judicial Council obtains the necessary authorizations within the one hundred twenty (120) calendar day period period, then the closing of the purchase shall take place as provided in the offer but no later than one hundred twenty (120) calendar days after the date of such authorizations.. 32

Judicial Council Acceptance. If the Judicial Council notifies Licensee that, conditioned upon obtaining the necessary authorizations, it will accept the proposed offer, then the Judicial Council shall have one hundred twenty (120) calendar days from the date of said notification to satisfy said authorizations. If the Judicial Council fails to satisfy the condition in the preceding sentence within the one hundred twenty (120) calendar day period, then Licensee may sell the System to the offering party, conditioned upon meeting the conditions specified in Section section 12.2. If the Judicial Council obtains the necessary authorizations within the one hundred twenty (120) calendar day period then the closing of the purchase shall take place as provided in the offer but no later than one hundred twenty (120) calendar days after the date of such authorizations.authorizations.‌