{"component": "clause", "props": {"groups": [{"samples": [{"hash": "kHnbm47AoJU", "uri": "/contracts/kHnbm47AoJU#acquisition-proposal", "label": "Merger Agreement (Dot Hill Systems Corp)", "score": 21.0109519958, "published": true}, {"hash": "lGa6w6EqZqp", "uri": "/contracts/lGa6w6EqZqp#acquisition-proposal", "label": "Merger Agreement (Websense Inc)", "score": 21.0, "published": true}, {"hash": "f3b6Jd6sxbd", "uri": "/contracts/f3b6Jd6sxbd#acquisition-proposal", "label": "Agreement and Plan of Merger and Reorganization (Entropic Communications Inc)", "score": 21.0, "published": true}], "snippet_links": [{"key": "by-parent", "type": "clause", "offset": [107, 116]}, {"key": "relating-to", "type": "definition", "offset": [145, 156]}, {"key": "acquisition-transaction", "type": "definition", "offset": [161, 184]}], "snippet": "\u201cAcquisition Proposal\u201d shall mean any offer or proposal (other than an offer or proposal made or submitted by Parent) contemplating or otherwise relating 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"offset": [6494, 6521]}, {"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [6527, 6557]}, {"key": "bona-fide", "type": "definition", "offset": [6591, 6600]}, {"key": "written-proposal", "type": "definition", "offset": [6601, 6617]}, {"key": "modified-terms", "type": "clause", "offset": [6649, 6663]}, {"key": "effect-of", "type": "clause", "offset": [6761, 6770]}, {"key": "beneficially-own", "type": "definition", "offset": [6826, 6842]}, {"key": "voting-stock", "type": "definition", "offset": [6864, 6876]}, {"key": "common-stock", "type": "definition", "offset": [6878, 6890]}, {"key": "participating-stock", "type": "definition", "offset": [6895, 6914]}, {"key": "the-transaction", "type": "clause", "offset": [6959, 6974]}, {"key": "the-sale", "type": "clause", "offset": [6991, 6999]}, {"key": "disposition-of", "type": "clause", "offset": [7019, 7033]}, {"key": "assets-of-the-company-and-its-subsidiaries", "type": "clause", "offset": [7066, 7108]}, {"key": "taken-as-a-whole", "type": "clause", "offset": [7110, 7126]}, {"key": "based-on", "type": "clause", "offset": [7189, 7197]}, {"key": "more-favorable", "type": "definition", "offset": [7301, 7315]}, {"key": "relevant-factors", "type": "definition", "offset": [7416, 7432]}, {"key": "capable-of", "type": "definition", "offset": [7667, 7677]}, {"key": "changes-to-this-agreement", "type": "clause", "offset": [7712, 7737]}, {"key": "by-the-purchaser", "type": "clause", "offset": [7759, 7775]}], "snippet": "(a) From and after the date hereof, without the prior written consent of Purchaser, the Company shall not and will cause its Subsidiaries and its and its Subsidiaries' respective officers, directors, agents and representatives including the Financial Advisor (collectively, \"Representatives\") not to, (i) directly or indirectly, solicit, initiate or --------------- encourage (including by way of furnishing information or assistance) or take any other action to facilitate any inquiries or the making of any proposal which constitutes or may reasonably be expected to lead to an Acquisition Proposal, (ii) enter into or participate in any discussions or negotiations regarding any Acquisition Proposal, or (iii) provide any confidential or nonpublic information or data to any Person relating to any Acquisition Proposal; provided, however, nothing contained herein shall prohibit the Company Board from taking and disclosing to its shareholders a position with respect to an unsolicited tender offer pursuant to Rules 14d-9 and 14e-2 under the Exchange Act. The Company shall immediately cease and terminate any existing solicitation, initiation, encouragement, activity, discussion or negotiation with any Persons conducted heretofore by it or its Representatives with any Persons other than Purchaser and its Affiliates and shall demand the return or destruction of any confidential information previously provided to any third party in connection therewith. Notwithstanding the foregoing and anything to the contrary contained in this Section 5.5 or in any other provision of this Agreement, the Company and the Company Board may ask questions of, consider and clarify a proposal from, and conduct a due diligence investigation of (but not negotiate with or provide any information to, without the Purchaser's prior written consent) any third party making an unsolicited Acquisition Proposal (a \"Potential Acquirer\"), ------------------ solely for the purpose of evaluating such Acquisition Proposal, if the Company Board or any committee thereof determines, after consultation with the Financial Advisor and the Company's legal counsel, that (A) such third party has submitted to the Company an Acquisition Proposal which has a reasonable likelihood of resulting in a Superior Proposal (as defined in Section 5.5(d)), and (B) the failure to participate in such process would be inconsistent with the Company Board's fiduciary duties under applicable law. In the event that the Company shall determine to enter into the process described above, or shall receive any Acquisition Proposal, it shall promptly inform Purchaser in writing as to the identity of the Potential Acquirer and the material terms of such Acquisition Proposal. If the Company, after consultation with the Financial Advisor and the Company's legal counsel, determines that an Acquisition Proposal is a Superior Proposal, and the failure to consider such Acquisition Proposal would be inconsistent with the Company Board's fiduciary duties under applicable law, then it shall promptly notify Purchaser of such determination, and the Company and the Company Board, if the Company has complied with the provisions of this Section 5.5, may participate in discussions or negotiations (including, as a part thereof, making any counterproposal) with the Potential Acquirer. In the event that the Company shall determine to provide any information to such Potential Acquirer following its determination that such Acquisition Proposal is a Superior Proposal it shall promptly (within two business days) inform Purchaser in writing as to the fact that information is to be provided. The Company agrees that any non-public information furnished to a Potential Acquirer will be pursuant to a confidentiality agreement on terms no less favorable to the Company than the Confidentiality Agreement. The Company will keep the Purchaser apprised of any related developments, discussions and negotiations (including the terms and conditions of the Acquisition Proposal) on a current basis.\n(i) Subject to Section 5.5(c) below, neither the Company Board nor any committee thereof shall withdraw or modify, or publicly propose to withdraw or modify, in a manner adverse to Purchaser, the approval or recommendation by the Company Board or committee thereof of this Agreement and the Merger unless a breach of Section 4.6 has occurred and remains uncured for a period of ten business days.\n(ii) Notwithstanding Section 5.5(b)(i) above, the Company Board (or any committee thereof) may withdraw or modify its approval or recommendation of this Agreement or the Merger, even if a breach of Section 4.6 has not occurred and remain uncured, if the Company has complied with the provisions of this Section 5.5, in the event that the Company Board (or any committee thereof) determines in good faith, after consultation with the Financial Advisor and the Company's legal counsel, that the Acquisition Proposal is a Superior Proposal, and that the failure to take such action would be inconsistent with the Company Board's or any such committee's fiduciary duties under applicable law.\n(c) Notwithstanding the foregoing, in the event that there exists a Superior Proposal before the Company Board or any committee thereof and in the reasonable good faith judgment of the Company Board (or such committee), after consultation with outside corporate counsel to the Company, the failure to accept such Superior Proposal would be inconsistent with the fiduciary duties of the Company Board (or such committee) to the Company Stockholders under applicable law, the Company Board (or such committee) may pursuant to\nSection 9.1 (f) (and subject to this sentence) terminate this Agreement and concurrently with such termination, cause the Company to enter into an acquisition agreement with respect to such Superior Proposal; provided, however, that prior to any such action, the Company shall (A) notify Purchaser in writing that it intends to enter into an agreement relating to a Superior Proposal (which notice shall include the most recent draft of such Superior Proposal), (B) during the five business days following the Company's notice (or such longer period as agreed to by the parties), the Company shall negotiate in good faith with Purchaser to make such adjustments in the terms and conditions of such Agreement such that the Acquisition Proposal is no longer a Superior Proposal, and (C) pay the Termination Fee to Purchaser in full and in immediately available funds.\n(d) For purposes of this Agreement, a \"Superior Proposal\" means any bona fide written proposal (or its most recent amended or modified terms, if amended or modified) made by a Potential Acquirer to enter into an Acquisition Proposal, the effect of which would be that (i) the Company Stockholders would beneficially own less than 50% of the voting stock, common stock and participating stock of the combined or on-going entity, or (ii) the transaction would result in the sale, transfer or other disposition of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, and which the Company determines in its good faith judgment, based on among other things, the advice of the Financial Advisor, if consummated, would result in a transaction more favorable to the Company Stockholders from a financial point of view than the Merger, taking into account all relevant factors (including whether, in the good faith judgment of the Company Board, after obtaining the advice of the Financial Advisor, the Potential Acquirer is reasonably able to finance the transaction and whether such transaction is reasonably capable of being completed, and any proposed changes to this Agreement that may be proposed by the Purchaser in response to such Acquisition Proposal). An Acquisition Proposal that is conditioned on due diligence may constitute a Superior Proposal if it otherwise meets the foregoing definition.", "size": 28, "hash": "b27212316f4de57042a043cc50b636c6", "id": 2}, {"samples": [{"hash": "iiCaqJZDgK6", "uri": "/contracts/iiCaqJZDgK6#acquisition-proposal", "label": "Merger Agreement (Trius Therapeutics Inc)", "score": 24.5811080933, "published": true}, {"hash": "6AWada72PEb", "uri": "/contracts/6AWada72PEb#acquisition-proposal", "label": "Merger Agreement (Cubist Pharmaceuticals Inc)", "score": 24.5811080933, "published": true}], "snippet_links": [{"key": "any-person", "type": "definition", "offset": [61, 71]}, {"key": "meaning-of", "type": "clause", "offset": [134, 144]}, {"key": "the-exchange-act", "type": "definition", "offset": [162, 178]}, {"key": "relating-to", "type": "definition", "offset": [180, 191]}, {"key": "single-transaction", "type": "clause", "offset": [198, 216]}, {"key": "related-transactions", "type": "definition", 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"\u201cAcquisition Proposal\u201d shall mean any proposal or offer from any Person (other than Parent and its Affiliates) or \u201cgroup\u201d, within the meaning of Section 23(d) of the Exchange Act, relating to, in a single transaction or series of related transactions, any (A) acquisition or license of assets of the Company equal to 20% or more of the Company\u2019s consolidated assets or to which 20% or more of the Company\u2019s revenues or earnings on a consolidated basis are attributable, (B) issuance or acquisition of 20% or more of the outstanding Company Common Stock, (C) recapitalization, tender offer or exchange offer that if consummated would result in any Person or group beneficially owning 20% or more of the outstanding Company Common Stock or (D) merger, consolidation, amalgamation, share exchange, business combination, recapitalization, liquidation, dissolution or similar transaction involving the Company that if consummated would result in any Person or group beneficially owning 20% or more of the outstanding Company Common Stock, in each case other than the Transactions.", "size": 25, "hash": "ee4ed0c9fa4bd949944a2893859a8d89", "id": 3}, {"samples": [{"hash": "l2wBrQNwRJg", "uri": "/contracts/l2wBrQNwRJg#acquisition-proposal", "label": "Merger Agreement (Nortek Inc)", "score": 18.0, "published": true}, {"hash": "k93PqzlpbnZ", "uri": "/contracts/k93PqzlpbnZ#acquisition-proposal", "label": "Merger Agreement (Nortek Inc)", "score": 18.0, "published": true}, {"hash": "3rkCfCQfFl4", "uri": "/contracts/3rkCfCQfFl4#acquisition-proposal", "label": "Merger Agreement (Ply Gem Industries Inc)", "score": 18.0, "published": true}], "snippet_links": [], "snippet": "40 Agreement....................................... 1", "size": 19, "hash": "1c494333866ae0a69c092d724b74be50", "id": 5}, {"samples": [{"hash": "2NrEGW4ix3I", "uri": "/contracts/2NrEGW4ix3I#acquisition-proposal", "label": "Merger Agreement (Northwest Bancshares, Inc.)", "score": 33.967830658, 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"the-agreement", "type": "clause", "offset": [3733, 3746]}, {"key": "acceptance-of-superior-proposal", "type": "clause", "offset": [3749, 3780]}, {"key": "date-hereof", "type": "clause", "offset": [3822, 3833]}, {"key": "outside-legal-counsel", "type": "definition", "offset": [3960, 3981]}, {"key": "failure-to-take", "type": "definition", "offset": [3992, 4007]}, {"key": "board-shall", "type": "definition", "offset": [4272, 4283]}, {"key": "modification-to-this-agreement", "type": "clause", "offset": [4489, 4519]}, {"key": "notice-to", "type": "definition", "offset": [4595, 4604]}, {"key": "in-advance", "type": "clause", "offset": [4642, 4652]}, {"key": "material-terms-and-conditions", "type": "clause", "offset": [4798, 4827]}, {"key": "the-superior", "type": "clause", "offset": [4908, 4920]}, {"key": "during-the-notice-period", "type": "clause", "offset": [4938, 4962]}, {"key": "counsel-to", "type": "clause", "offset": [5027, 5037]}, {"key": "to-the-extent", "type": "clause", "offset": [5074, 5087]}, {"key": "adjustments-to", "type": "clause", "offset": [5131, 5145]}, {"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [5150, 5188]}, {"key": "amendments-or-modifications", "type": "clause", "offset": [5492, 5519]}, {"key": "agreed-to-by", "type": "definition", "offset": [5531, 5543]}, {"key": "day-notice-period", "type": "clause", "offset": [5798, 5815]}, {"key": "the-requirements", "type": "clause", "offset": [5844, 5860]}, {"key": "nothing-contained-in-this-agreement", "type": "clause", "offset": [5930, 5965]}, {"key": "complying-with", "type": "clause", "offset": [5990, 6004]}, {"key": "the-exchange", "type": "clause", "offset": [6037, 6049]}, {"key": "a-change-in", "type": "definition", "offset": [6147, 6158]}, {"key": "used-in-this-agreement", "type": "clause", "offset": [6254, 6276]}], "snippet": "(a) From the date of this Agreement through the first to occur of the Effective Time or the termination of this Agreement, except as provided in Section 6.06(b), PWOD shall not, and shall cause any of its Subsidiaries and the officers, directors, employees, advisors and other agents of PWOD and its Subsidiaries not to, directly or indirectly (i) solicit, initiate, encourage, facilitate (including by way of providing information) or induce any inquiry, proposal or offer with respect to, or the making or completion of, any Acquisition Proposal, or any inquiry, proposal or offer that is reasonably likely to lead to any Acquisition Proposal, (ii) enter into, continue or otherwise participate in any discussions or negotiations regarding, or furnish to any Person or Group any confidential or nonpublic information with respect to or in connection with, an Acquisition Proposal, (iii) take any other action to facilitate any inquiries or the making of any proposal that constitutes or may reasonably be expected to lead to an Acquisition Proposal, (iv) approve, endorse or recommend, or propose to approve, endorse or recommend any Acquisition Proposal or any agreement related thereto, (v) enter into any agreement contemplating or otherwise relating to any Acquisition Transaction or Acquisition Proposal, (vi) enter into any agreement or agreement in principle requiring, directly or indirectly, PWOD to abandon, terminate or fail to consummate the transactions contemplated hereby or breach its obligations hereunder, or (vii) propose or agree to do any of the foregoing.\n(b) Notwithstanding anything to the contrary in Section 6.06(a), if PWOD or any of its Representatives receives an unsolicited bona fide Acquisition Proposal that did not result from or arise in connection with a breach of Section 6.06(a), PWOD and its Representatives may, and permit its Subsidiaries and its Subsidiaries\u2019 Representatives to, take any action described in Section 6.06(a)(ii) and participate in negotiations or discussions regarding the foregoing, if, and only if, the PWOD Board determines in good faith, after consultation with PWOD\u2019s outside legal and financial advisors, that (i) such Acquisition Proposal constitutes or is reasonably capable of becoming a Superior Proposal, and (ii) the failure of the PWOD Board to take such action would cause the PWOD Board to violate its fiduciary duties to PWOD under applicable Law; provided, that PWOD receives from such Person or Group an executed confidentiality agreement containing terms no less favorable to the disclosing party than the confidentiality terms of this Agreement.\n(c) As promptly as practicable (but in no event more than 24 hours) following receipt of any Acquisition Proposal or any request for nonpublic information or inquiry that would reasonably be expected to lead to any Acquisition Proposal, PWOD shall (i) advise NWBI in writing of the receipt of any Acquisition Proposal, request or inquiry and the terms and conditions of such Acquisition Proposal, request or inquiry, (ii) promptly provide to NWBI a written summary of the material terms of such Acquisition Proposal, request or inquiry including the identity of the Person or Group making the Acquisition Proposal, and (iii) keep NWBI promptly apprised of any related developments, discussions and negotiations (including providing NWBI with a copy of all material documentation and correspondence relating thereto) on a current basis. PWOD agrees that it shall simultaneously provide to NWBI any information concerning PWOD\n(d) Notwithstanding anything herein to the contrary, at any time prior to the PWOD Meeting, PWOD may accept or approve a Superior Proposal thereby withdrawing its recommendation of the Agreement (\u201cAcceptance of Superior Proposal\u201d), if and only if (i) from and after the date hereof, PWOD has complied with Sections 6.02 and 6.06, and (ii) the PWOD Board has determined in good faith, after consultation with outside legal counsel, that the failure to take such action would cause it to violate its fiduciary duties under applicable law; provided, that the PWOD Board may not effect a Acceptance of Superior Proposal unless: (i) PWOD shall have received an unsolicited bona fide written Acquisition Proposal and the PWOD Board shall have concluded in good faith (after consultation with PWOD\u2019s financial advisors and outside legal counsel) that such Acquisition Proposal is a Superior Proposal, after taking into account any amendment or modification to this Agreement agreed to or proposed by NWBI; (ii) PWOD shall have provided prior written notice to NWBI at least five (5) business days in advance (the \u201cNotice Period\u201d) of taking such action, which notice shall advise NWBI that the PWOD Board has received a Superior Proposal, specifying the material terms and conditions of such Superior Proposal (including the identity of the Person or Group making the Superior Proposal); (iii) during the Notice Period, PWOD shall, and shall cause its financial advisors and outside counsel to, negotiate with NWBI in good faith (to the extent NWBI desires to so negotiate) to make such adjustments to the terms and conditions of this Agreement so that such Superior Proposal ceases to constitute a Superior Proposal; and (iv) the PWOD Board shall have concluded in good faith (after consultation with PWOD\u2019s financial advisors and outside legal counsel) that, after considering the results of such negotiations and giving effect to any proposals, amendments or modifications offered or agreed to by NWBI, if any, that such Acquisition Proposal continues to constitute a Superior Proposal. If during the Notice Period any revisions are made to the Superior Proposal, PWOD shall deliver a new written notice to NWBI giving rise to a new five (5) business day Notice Period and shall again comply with the requirements of this Section 6.06(d) with respect to such new written notice.\n(e) Nothing contained in this Agreement shall prevent PWOD from complying with Rule 14d-9 and Rule 14e-2 under the Exchange; provided, however, that any such disclosure relating to an Acquisition Proposal shall be deemed a change in PWOD Recommendation unless PWOD Board reaffirms PWOD Recommendation in such disclosure.\n(f) As used in this Agreement: (i) \u201cSuperior Proposal\u201d means any bona fide written Acquisition Proposal on terms which the PWOD Board determines in good faith, after consultation", "size": 18, "hash": "771e150408ca005464cbcda71bde1c67", "id": 7}, {"samples": [{"hash": "40u7x9NGfMy", "uri": "/contracts/40u7x9NGfMy#acquisition-proposal", "label": "Merger Agreement 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"Agreement and Plan of Reorganization (Vision Twenty One Inc)", "score": 18.0, "published": true}, {"hash": "d3b40u4d3RI", "uri": "/contracts/d3b40u4d3RI#acquisition-proposal", "label": "Agreement and Plan of Reorganization (Vision Twenty One Inc)", "score": 18.0, "published": true}, {"hash": "RIDrG51LCv", "uri": "/contracts/RIDrG51LCv#acquisition-proposal", "label": "Agreement and Plan of Reorganization (Vision Twenty One Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "the-term", "type": "definition", "offset": [0, 8]}], "snippet": "The term \"Acquisition Proposal\" shall have the meaning set forth in Section 3.34.", "size": 18, "hash": "4fa4b1e334287b50eab2d1a7fb0081f6", "id": 6}, {"samples": [{"hash": "XyqCqmBlXF", "uri": "/contracts/XyqCqmBlXF#acquisition-proposal", "label": "Agreement and Plan of Merger (Mindel Laurence B)", "score": 18.0, "published": true}, {"hash": "9P3r2HoqhOf", "uri": "/contracts/9P3r2HoqhOf#acquisition-proposal", "label": "Agreement and Plan of Merger (Hislop Michael J)", "score": 18.0, "published": true}], "snippet_links": [], "snippet": "33 affiliate...................................................", "size": 10, "hash": "901c57b9c9ffa1fea721ffef71815054", "id": 9}, {"samples": [{"hash": "jRNDhxFdhjd", "uri": "/contracts/jRNDhxFdhjd#acquisition-proposal", "label": "Merger Agreement (American General Corp /Tx/)", "score": 18.0, "published": true}, {"hash": "gAe8Y6XjIt2", "uri": "/contracts/gAe8Y6XjIt2#acquisition-proposal", "label": "Merger Agreement (American General Corp /Tx/)", "score": 18.0, "published": true}], "snippet_links": [], "snippet": "36 Actions............................................15", "size": 8, "hash": "e21f9df56a10ca910581f7ac1542fb9b", "id": 10}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1hY3F1aXNpdGlvbi1wcm9wb3NhbCMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"parents": [["definitions", "DEFINITIONS"], ["covenants", "Covenants"], ["termination", "Termination"], ["additional-agreements", "Additional Agreements"], ["pre-closing-covenants", "PRE-CLOSING COVENANTS"]], "children": [["no-solicitation", "No Solicitation"], ["limits-on-release-of-standstill-and-confidentiality", "Limits on Release of Standstill and Confidentiality"], ["no-change-of-recommendation-or-alternative-acquisition-agreement", "No Change of Recommendation or Alternative Acquisition Agreement"], ["certain-permitted-disclosure", "Certain Permitted Disclosure"], ["notice", "Notice"]], "title": "Acquisition Proposal", "size": 534, "id": "acquisition-proposal", "related": [["acquisition-proposals", "Acquisition Proposals", "<strong>Acquisition Proposals</strong>"], ["superior-proposal", "Superior Proposal", "Superior Proposal"], ["proposal", "Proposal", "Proposal"], ["superior-proposals", "Superior Proposals", "Superior Proposals"], ["financial-proposal", "Financial Proposal", "Financial Proposal"]], "related_snippets": [], "updated": "2026-05-10T05:39:37+00:00", "also_ask": ["What key terms must be included to clearly define an 'Acquisition Proposal'?", "How can the clause be drafted to prevent circumvention or ambiguous offers?", "What are the most common negotiation leverage points for this clause?", "How have courts interpreted the enforceability of 'Acquisition Proposal' definitions in disputes?", "What are the critical risks if the clause is too broad or too narrow in scope?"], "drafting_tip": "Specify required proposal contents to ensure completeness, set submission procedures to maintain process integrity, and define evaluation criteria to promote transparency.", "explanation": "An Acquisition Proposal clause defines the process and requirements for one party to formally propose the purchase or acquisition of another party or its assets. Typically, this clause outlines the necessary information that must be included in a proposal, such as price, terms, and any conditions precedent, and may specify the timeline and method for submitting such proposals. Its core practical function is to establish a clear and orderly framework for initiating acquisition discussions, ensuring that all parties understand the expectations and procedures involved, and reducing the risk of misunderstandings or disputes during the negotiation process."}, "json": true, "cursor": ""}}