Third Party Proposal definition
Examples of Third Party Proposal in a sentence
For purposes of this Agreement, a "Third Party Proposal" means a bona fide proposal from a third party, which proposal did not result from a breach of this Section 6.2(a) and which third party the Board of Directors of the Company determines in good faith (after consultation with AH&H or another financial advisor of nationally recognized reputation) to be reasonably capable of completing a Superior Proposal (as defined in Section 9.1(d)).
The failure of Tenant to provide written notice of acceptance within said time period shall be deemed an election by Tenant not to accept the Third Party Proposal.
If Tenant elects to lease the Right of First Refusal Space as provided above, then, subject to IBM’s rights as provided above, such space shall be included in this Lease, except that the rental payments, length of the term and other provisions shall be modified with respect to such space to reflect the terms agreed to in the Third Party Proposal or revised Third Party Proposal.
Notwithstanding the foregoing or anything to the contrary in this Lease, Tenant’s Right of First Refusal shall apply only if the Third Party Proposal is for the lease of all or a portion of the Right of First Refusal Space only, and not for any other space in the Project.
Each Seller Entity will immediately cease and cause to be terminated any and all existing activities, discussions or negotiations with any Persons conducted prior to or on the Effective Date with respect to any Third Party Proposal.