SUBSEQUENT OFFER Clause Samples
The "Subsequent Offer" clause defines the process and conditions under which a party may make a new or revised offer after an initial offer has been made. Typically, this clause outlines the timeframe, format, and circumstances in which subsequent offers are permitted, such as after negotiations or in response to counteroffers. Its core function is to provide a structured mechanism for ongoing negotiations, ensuring that both parties understand how and when new proposals can be formally introduced, thereby reducing confusion and facilitating smoother contract discussions.
SUBSEQUENT OFFER. Seller shall, prior to close of escrow, receive all offer(s) to purchase the Premises 153. unless otherwise agreed upon by Seller in writing. Seller understands that any offer accepted by the Seller 154. subsequent to a first accepted offer must be a backup offer contingent on the cancellation of the existing Contract. 155. 156. 157. 158. 159. 160. 161. 162. 163. 164. 165.
SUBSEQUENT OFFER. Subject to Clauses 6.1.1, 6.1.2 and 6.2, a NSMH Member who wishes to sell, transfer, assign or otherwise dispose of its NSMH Shares shall first make simultaneous offers in writing to sell the Subject Shares to the other NSMH Member(s) (including NSE) (and if there are more than 1 (One) other NSMH Member, in the proportions in which the NSMH Shares held by them bear to each other as at the date of the Offer). The price payable for the NSMH Shares shall be agreed upon between the Offeror and the Offeree concerned within a period of 30 (Thirty) days from the Offeree's receipt of the Offer or, failing agreement, the Fixed Value of the NSMH Shares if it is acceptable to the Offeror. If the Fixed Value is not acceptable to the Offeror, the Offeree shall have the right to terminate any Offer or agreement constituted by the Offer as set forth below and elect to continue to hold the NSMH Shares rather than to sell the NSMH Shares. Each Offer shall be deemed to be made upon terms that the Offeror shall be entitled:-
6.3.1 to revoke (in accordance with Clause 6.4) an Offer remaining unaccepted or (if applicable) to terminate the agreement constituted by the Offer and any acceptance thereof if the Fixed Value of the Subject Shares comprised in any of the simultaneous Offers is unacceptable to the Offeror who so notifies an Offeree pursuant to Clause 6.4; and
6.3.2 to terminate, pursuant to Clauses 6.6 and 6.7, the agreement constituted by the Offer and the acceptance thereof if all of the Subject Shares comprised in the simultaneous Offers made are not sold as a result of:-
i) the non-acceptance of any Offer;
ii) if applicable, the absence of MDTCA's Approval required for the sale of the Subject Shares accepted by an Offeree; or
iii) the Offeree's failure to complete its purchase of the Subject Shares concerned. An Offeror who revokes an Offer or terminates an agreement constituted by an Offer and any acceptance thereof pursuant to (as applicable) Clauses 6.4, 6.6 or 6.7) shall continue to hold the NSMH Shares comprised in such Offer and may not sell them unless he/it first offers them to the other NSMH Members.