Examples of Prospective Sellers in a sentence
This Letter of Intent will be subject to the approval by the Prospective Buyer's Board of Directors and by the Prospective Seller's Board of Directors.
The Prospective Buyer and the Prospective Seller shall expeditiously negotiate to reach a written Merger Agreement, subject to the approval of the Prospective Buyer's Board of Directors and the Prospective Seller's Board of Directors, if required by applicable law or any regulatory authority.
Prospective Buyer would acquire all of the outstanding capital stock of the Company, being shares of common stock, par value per share (the “Shares”), all of which are owned beneficially and of record by Prospective Sellers.
At the Closing, Prospective Buyer and Prospective Sellers would enter into an escrow agreement which would contain provisions for anescrow of $ of the Purchase Price to secure Prospective Buyer againstundisclosed liabilities, misrepresentations and breaches of warranties, covenants and agreements by Prospective Sellers.
Prospective Buyer and Prospective Sellers intend promptly to begin negotiating to reach a written Definitive Agreement, subject to the approval of Prospective Buyer’s Management Board, containing comprehensive representations, warranties, indemnities, conditions and agreements by each Prospective Seller.
The Purchase Price and each component thereof, would be divided between Prospective Sellers pro rata in accordance with their respective ownership of the Shares.
The following paragraphs of this Letter are intended to be the legally binding and legally enforceable agreements of the Prospective Buyer and the Prospective Sellers.
Prospective Buyer further agrees that none of the Prospective Sellers shall be obligated to obtain from any other person with respect to any Possible Transaction undertakings of the type provided for herein.
This is in contrast to the situation where there are more Prospective Sellers than Prospective Buyers, resulting in a "Membership Sale Offering List".The conditions specified in Article II, Section 7 Sale or Transfer of Membership (page 8) assume that a Membership Sale Offering List is in effect.
The Prospective Buyer and the Prospective Seller shall expeditiously negotiate to reach a written Merger Agreement, subject to the approval of the Prospective Buyer's Board of Directors and stockholders and the Prospective Seller's Board of Directors and stockholders, if required by applicable law or any regulatory authority.