Examples of Standstill Provision in a sentence
The Standstill Provision, by its own terms, expired in December 2000.
Section 7 of the Confidentiality Agreement included a provision providing for a "standstill" period of one year during which Dendrite was prohibited from taking any action, including making a tender offer or merger proposal, to acquire the stock or control of Synavant without first obtaining the written consent of the Board of Directors of Synavant (the "Standstill Provision").
Nothing in this Paragraph 5(c) Standstill Provision shall restrict Xxxxxx’x ability to vote pursuant to his stock or other equity intestests that he currently holds or receives pursuant to this Agreement.
Nor shall anything in this Paragraph 5(c) Standstill Provision prevent Xxxxxx from serving as a member of the Company’s Board of Directors, voting as a member of the Company’s Board of Directors, or in any other way restrict Xxxxxx from performing his duties as a member of the Company’s Board of Directors, without limitation.
Because the parties remained committed to building ARV by combining ARV's experience in the assisted living industry and LFREI's access to capital, the Standstill Provision and Non-Compete Covenant each remained a part of the amended agreement.
The Company agrees to fully enforce the Required Standstill Provision set forth in the Acceptable Confidentiality Agreement to which Xxxx and the Company are a party.
Pursuant to the Confidentiality Agreement, Mentor agreed, among other things, that it would not for a period of six months from the date of the Confidentiality Agreement acquire any securities of IKOS, engage in an extraordinary business transaction with IKOS, or engage in soliciting proxies from IKOS stockholders without prior approval of the IKOS board of directors (the "Standstill Provision").
COVENANTS 15 7.1 Notifications 15 7.2 Standstill Provision 16 7.3 Intrexon Proposals 17 7.4 Further Assurances 17 SECTION 8.
The Standstill Provision no longer applied if a third party took any action to acquire the stock or control of Synavant.
By letter dated February 7, 2003 and as required in the Standstill Provision, Dendrite requested approval of the Synavant Board of Directors to make a proposal to acquire Synavant pursuant to a merger for $1.60 per share of Synavant common stock to be paid in Dendrite common stock, which represented a 70% premium over the prior month's average closing price of the Synavant stock.