Level of Acceptances Clause Samples
Level of Acceptances. (a) The Company must ensure that BidCo except with the prior written consent of the Arrangers does not waive or amend the acceptance condition of the Offer if as a result of such waiver or amendment it would be possible for BidCo and persons acting in concert with BidCo who are members of the Merck Group owning fifty per cent. (50%) or less of the Shares, immediately after the First Settlement Date.
(b) The Company must ensure that BidCo except with the prior written consent of the Arrangers does not include in the circle of parties acting in concert with BidCo persons which are not members of the Merck Group unless it is ensured that BidCo and/or the Company will together own more than 50% of the Shares no later than immediately after the First Settlement Date.
Level of Acceptances. The Borrower must procure that the minimum acceptance level in respect of the Offer is not waived unless notwithstanding such waiver the Borrower will acquire beneficially more than fifty per cent. (50%) of the issued share capital of Tiger pursuant to the Offer.
Level of Acceptances. The minimum acceptance level, if applicable, stated in the Offer Document must not be less than 50 per cent. plus one vote of the Shares.