Limit on Offers Clause Samples
The "Limit on Offers" clause sets a maximum number of offers that a party may make within a specified context, such as during negotiations or within a particular timeframe. For example, it may restrict a buyer from submitting more than three purchase offers on a property, or a supplier from making multiple bids in a procurement process. This clause helps prevent excessive or frivolous offers, streamlining negotiations and ensuring that all parties focus on serious, well-considered proposals.
Limit on Offers. Where the Company has relied or intends relying on the Class Order to make an Offer, the Company must have reasonable grounds to believe, when making an Offer, that the number of Shares to be received on exercise of Awards offered under an Offer, when aggregated with the number of Shares issued or that may be issued as a result of offers made in reliance on the Class Order at any time during the previous 3 year period under an employee incentive scheme covered by the Class Order or an ASIC exempt arrangement of a similar kind to an employee incentive scheme, will not exceed 5% of the total number of Shares on issue at the date of the Offer.