{"component": "clause", "props": {"groups": [{"snippet": "Each of the Lenders covenants and agrees that only a Majority in Interest shall have the right, but not the obligation, to undertake the following actions (it being expressly understood that less than a Majority in Interest hereby expressly waive the following rights that they may otherwise have under the Borrower Documents):", "snippet_links": [{"key": "each-of-the-lenders", "type": "clause", "offset": [0, 19]}, {"key": "a-majority-in-interest", "type": "clause", "offset": [51, 73]}, {"key": "the-right", "type": "clause", "offset": [85, 94]}, {"key": "the-obligation", "type": "clause", "offset": [104, 118]}, {"key": "borrower-documents", "type": "definition", "offset": [307, 325]}], "samples": [{"hash": "djSMnZ6SWmn", "uri": "/contracts/djSMnZ6SWmn#certain-actions", "label": "Collateral Agent Agreement (MAGELLAN GOLD Corp)", "score": 26.9288158417, "published": true}, {"hash": "izWJOrFpXFZ", "uri": 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a Material Adverse Change.", "snippet_links": [{"key": "without-limiting-the-foregoing", "type": "clause", "offset": [0, 30]}, {"key": "no-further-action", "type": "clause", "offset": [88, 105]}, {"key": "by-the-borrower", "type": "clause", "offset": [222, 237]}, {"key": "the-guarantors", "type": "clause", "offset": [241, 255]}, {"key": "former-subsidiaries", "type": "clause", "offset": [272, 291]}, {"key": "owned-or-operated-property", "type": "clause", "offset": [330, 356]}, {"key": "to-the-borrower", "type": "definition", "offset": [383, 398]}, {"key": "best-knowledge", "type": "definition", "offset": [401, 415]}, {"key": "future-liability", "type": "clause", "offset": [417, 433]}, {"key": "the-borrower-and-the", "type": "clause", "offset": [446, 466]}, {"key": "could-reasonably-be-expected-to", "type": "definition", "offset": [484, 515]}, {"key": "in-connection-with", "type": "clause", "offset": [522, 540]}, {"key": "environmental-laws", "type": "definition", "offset": [560, 578]}, {"key": "a-material-adverse-change", "type": "clause", "offset": [598, 623]}], "samples": [{"hash": "kb84sPjhNPr", "uri": "/contracts/kb84sPjhNPr#certain-actions", "label": "Loan Agreement (Resaca Exploitation, Inc.)", "score": 21.3805618286, "published": true}, {"hash": "4OkkxRwCs7D", "uri": "/contracts/4OkkxRwCs7D#certain-actions", "label": "Loan Agreement (Resaca Exploitation, Inc.)", "score": 21.3805618286, "published": true}, {"hash": "e60z7OlmLmB", "uri": "/contracts/e60z7OlmLmB#certain-actions", "label": "Loan Agreement (Resaca Exploitation, Inc.)", "score": 21.3230667114, "published": true}], "size": 50, "hash": "4c7f83bc6b7b2e921be60a40c3b2fb42", "id": 2}, {"snippet": "(a) From the date of this Agreement through the Effective Time, except as otherwise permitted by this Section 6.11, PVFC will not, and will not authorize or permit any of its directors, officers, agents, employees, investment bankers, attorneys, accountants, advisors, agents, affiliates or representatives (collectively, \u201cPVFC Representatives\u201d) to, directly or indirectly, (i) initiate, solicit, encourage or take any action to facilitate, including by way of furnishing information, any Acquisition Proposal, as defined in Section 6.11(e)(i), or any inquiries with respect to or the making of any Acquisition Proposal, (ii) enter into or participate in any discussions or negotiations with, furnish any information relating to PVFC or any of the PVFC Subsidiaries or afford access to the business, properties, assets, books or records of PVFC or any of the PVFC Subsidiaries, to otherwise cooperate in any way with, or knowingly assist, participate in, facilitate or encourage any effort by any third party that is seeking to make, or has made, an Acquisition Proposal or (iii) except in accordance with Section 8.1(g), approve, endorse or recommend or enter into any letter of intent or similar document or any contract, agreement or commitment contemplating or otherwise relating to an Acquisition Proposal.\n(b) Notwithstanding anything in this Agreement to the contrary, PVFC and its Board of Directors shall be permitted (i) to comply with Rule 14d-9 and Rule 14e-2 promulgated under the Exchange Act with regard to an Acquisition Proposal provided that the Board of Directors of PVFC shall not withdraw or modify in a manner adverse to FNB the PVFC Recommendation except as set forth in subsection (iii) below, (ii) to engage in any discussions or negotiations with, and provide any information to, any third party in response to a Superior Proposal, as defined in Section 6.11(e)(ii), by any such third party, if and only to the extent that (x) PVFC\u2019s Board of Directors concludes in good faith, after consultation with outside counsel, that failure to do so would be reasonably likely to result in a breach of their fiduciary duties under applicable Law, (y) prior to providing any information or data to any third party in connection with a Superior Proposal by any such third party, PVFC\u2019s Board of Directors receives from such third party an executed confidentiality agreement, which confidentiality terms shall be no less favorable to PVFC than those contained in the Confidentiality Agreements between PVFC and FNB and (z) at least 48 hours prior to providing any information or data to any third party or entering into discussions or negotiations with any third party, PVFC promptly notifies FNB in writing of the name of such third party and the material terms and conditions of any such Superior Proposal and (iii) to withdraw, modify, qualify in a manner adverse to FNB, condition or refuse to make the PVFC Recommendation (the \u201cChange in PVFC Recommendation\u201d) if PVFC\u2019s Board of Directors concludes in good faith, after consultation with outside counsel and financial advisors, that failure to do so could reasonably be expected to breach their fiduciary duties under applicable Law. Notwithstanding any Change in PVFC Recommendation, this Agreement shall be submitted to the shareholders of PVFC at the PVFC Shareholders\u2019 Meeting for the purpose of voting on the approval of this Agreement and nothing contained herein shall be deemed to relieve PVFC of such obligation; provided, however, that if the Board of Directors of PVFC shall have effected a Change in PVFC Recommendation, then the Board of Directors of PVFC may submit this Agreement to PVFC\u2019s shareholders without recommendation (although the resolutions adopting this Agreement as of the date hereof may not be rescinded), in which event the Board of Directors of PVFC may communicate the basis for its lack of a recommendation to PVFC\u2019s shareholders in the Proxy Statement or an appropriate amendment or supplement thereto to the extent required by applicable Law. In addition to the foregoing, PVFC shall not submit to the vote of its shareholders any Acquisition Proposal other than the Merger prior to the termination of this Agreement.\n(c) PVFC will promptly, and in any event within 24 hours, notify FNB in writing of the receipt of any Acquisition Proposal or any information related thereto, which notification shall describe the Acquisition Proposal and identify the third party making the same.\n(d) PVFC agrees that it will, and will cause the PVFC Representatives to, immediately cease and cause to be terminated any activities, discussions or negotiations existing as of the date of this Agreement with any parties conducted heretofore with respect to any Acquisition Proposal. PVFC or its Representatives shall promptly after the date of this Agreement instruct each Person which has heretofore executed a confidentiality agreement relating to an Acquisition Proposal with or for the benefit of PVFC to promptly return or destroy (which destruction shall be certified in writing by such Person to PVFC) all information, documents and materials relating to an Acquisition Proposal or to PVFC or its businesses, operations or affairs heretofore furnished by PVFC or any of its Representatives to such Person or any of such Person\u2019s Representatives in accordance with the terms of any confidentiality agreement with such Person and to destroy all summaries, analyses or extracts of or based upon such information in the possession of such Person or any of such Person\u2019s Representatives.\n(e) For purposes of this Agreement:", "snippet_links": [{"key": "date-of-this-agreement", "type": "clause", "offset": [13, 35]}, {"key": "the-effective-time", "type": "clause", 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its affiliates) not to, directly or indirectly, (i) initiate, solicit, encourage or knowingly facilitate any inquiries or the making of any Acquisition Proposal, (ii) have any discussion with or provide any confidential information or data to any Person relating to an Acquisition Proposal, or engage in any negotiations concerning an Acquisition Proposal, or knowingly facilitate any effort or attempt to make or implement an Acquisition Proposal, (iii) approve or recommend, or propose publicly to approve or recommend, any Acquisition Proposal or (iv) approve or recommend, or propose to approve or recommend, or execute or enter into any letter of intent, agreement in principle, merger agreement, acquisition agreement, option agreement or other similar agreement or propose publicly or agree to do any of the foregoing related to any Acquisition Proposal.\n(b) PFSL agrees that it will, and will cause its officers, directors and representatives to, immediately cease and cause to be terminated any activities, discussions or negotiations existing as of the date of this Agreement with any parties conducted heretofore with respect to any Acquisition Proposal informing them that the Board of Directors no longer seeks the making of any Acquisition Proposals.\n(c) PFSL agrees that it will use reasonable best efforts to promptly inform its directors, officers, key employees, agents and representatives of the obligations undertaken in this Section 6.9.\n(d) Notwithstanding the provisions of Section 6.9(a) of this Agreement, if any Person after the date of this Agreement submits to PFSL\u2019s board of directors an unsolicited, bona fide, written Acquisition Proposal, and PFSL\u2019s board of directors reasonably determines in good faith, after consultation with outside legal counsel, that the failure to engage in discussions with such Person concerning such Acquisition Proposal may cause PFSL\u2019s board of directors to breach its fiduciary duties to PFSL and its stockholders, and after consultation with its financial advisor, then, in such case, (i) PFSL may (A) furnish information about its business to such Person under protection of an appropriate confidentiality agreement containing customary limitations on the use and disclosure of all non-public written or oral information furnished to such Person, provided that PFSL must contemporaneously furnish to IBKC all such non-public information furnished to such Person, and (B) negotiate and participate in discussions and negotiations with such Person; and (ii) if PFSL\u2019s board of directors determines that such an Acquisition Proposal is a Superior Proposal (defined below), PFSL\u2019s board of directors may (subject to the provisions of this Section 6.9) (A) withdraw or adversely modify its approval or recommendation of the Merger and recommend such Superior Proposal or (B) terminate this Agreement, in each case, (i) at any time after five (5) Business Days following IBKC\u2019c receipt of written notice (a \u201cNotice of Superior Proposal\u201d) advising IBKC that PFSL\u2019s board of directors has received a Superior Proposal and enclosing a copy of the Acquisition Proposal, identifying the Person submitting the Superior Proposal, specifying the material terms and conditions of such Superior Proposal, and (ii) subject to IBKC\u2019s Right of First Refusal (defined below). In the event IBKC elects not to exercise the Right of First Refusal, PFSL shall provide IBKC with a final written notice of acceptance before or simultaneous with accepting any Superior Proposal. For purposes of this Agreement, \u201cSuperior Proposal\u201d means any unsolicited, bona fide, written Acquisition Proposal for consideration consisting of cash and/or securities, and otherwise on terms which PFSL\u2019s board of directors determines, after consultation with its financial advisor, are more favorable to PFSL\u2019s stockholders (in their capacities as stockholders) from a financial point of view than the Merger after giving effect to the provisions of Section 9.2 (or other revised proposal submitted by IBKC). For the purposes of this Section 6.9(d), an Acquisition Proposal shall be \u201cbona fide\u201d if the board of directors of PFSL reasonably determines that the Person submitting such Acquisition Proposal is capable, from a financial, regulatory and other appropriate perspectives, of consummating such Acquisition Proposal on the terms proposed.\n(e) IBKC shall have the right (\u201cRight of First Refusal\u201d) for five (5) Business Days after receipt of Notice of Superior Proposal to make such adjustments in the terms and conditions of this Agreement as would enable PFSL to proceed with the Merger on the basis of such adjusted terms. If IBKC fails to exercise such Right of First Refusal within the time herein specified, PFSL shall be at liberty to accept the Superior Proposal, subject to the obligations of PFSL pursuant to Section 9.2 hereof.", "snippet_links": [{"key": "section-69", "type": "clause", "offset": [15, 26]}, {"key": "date-of-this-agreement", "type": "clause", "offset": [76, 98]}, {"key": "the-effective-date", "type": "clause", "offset": [120, 138]}, {"key": "termination-of-this-agreement", "type": "clause", "offset": [146, 175]}, {"key": "officers-and-directors", "type": "clause", "offset": [230, 252]}, {"key": "agents-and-representatives", "type": "clause", "offset": [343, 369]}, {"key": "investment-banker", "type": "clause", "offset": [385, 402]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [476, 498]}, {"key": "any-confidential-information", "type": "clause", "offset": [655, 683]}, {"key": "any-person", "type": "definition", "offset": [695, 705]}, {"key": "relating-to", "type": 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