{"component": "clause", "props": {"groups": [{"snippet": "If the Company receives a Qualified Offer and the Board of Directors has not redeemed the outstanding Rights or exempted such offer from the terms of this Agreement or called a special meeting of shareholders for the purpose of voting on whether or not to exempt such Qualified Offer from the terms of this Agreement, in each case by the end of the ninety (90) Business Days following the commencement of such Qualified Offer, and if the Company receives, not earlier than ninety (90) Business Days nor later than one hundred twenty (120) Business Days following the commencement of such Qualified Offer, a written notice complying with the terms of this Section 23.2 (the \u201cSpecial Meeting Notice\u201d), properly executed by the holders of record (or their duly authorized proxy) of ten percent (10%) or more of the shares of Common Shares then outstanding (excluding shares of Common Shares beneficially owned by the Person making the Qualified Offer and such Person\u2019s Affiliates and Associates), directing the Board of Directors to submit to a vote of shareholders at a special meeting of the shareholders of the Company (a \u201cSpecial Meeting\u201d) a resolution authorizing the redemption of all, but not less than all, of the then outstanding Rights at the Redemption Price (the \u201cRedemption Resolution\u201d), then the Board of Directors shall take such actions as are necessary or desirable to cause the Redemption Resolution to be submitted to a vote of shareholders within ninety (90) Business Days following receipt by the Company of the Special Meeting Notice (the \u201cSpecial Meeting Period\u201d), including by including a proposal relating to adoption of the Redemption Resolution in the proxy materials of the Company for the Special Meeting; provided, however, that if the Company, at any time during the Special Meeting Period and prior to a vote on the Redemption Resolution, enters into a Definitive Acquisition Agreement, the Special Meeting Period may be extended (and any Special Meeting called in connection therewith may be cancelled) if the Redemption Resolution will be separately submitted to a vote at the same meeting as the Definitive Acquisition Agreement. For purposes of a Special Meeting Notice, the record date for determining eligible holders of record of the Common Shares shall be the ninetieth (90th) Business Day following the commencement of a Qualified Offer. Any Special Meeting Notice must be delivered to the Secretary of the Company at the principal executive offices of the Company and must set forth, as to the shareholders of record executing such Special Meeting Notice, (i) the name and address of such shareholders, as they appear on the Company\u2019s books and records, (ii) the number of shares of Common Shares that are owned of record by each of such shareholders and (iii) in the case of Common Shares that is owned beneficially by another Person, an executed certification by the holder of record that such holder has executed such Special Meeting Notice only after obtaining instructions to do so from such beneficial owner. Subject to the requirements of applicable law, the Board of Directors may take a position in favor of or opposed to the adoption of the Redemption Resolution, or no position with respect to the Redemption Resolution, as it determines to be appropriate in the exercise of its fiduciary duties. In the event that (A) no Person has become an Acquiring Person prior to the effective date of redemption referred to below in this sentence, (B) the Qualified Offer continues to be a Qualified Offer prior to the last day of the Special Meeting Period (the \u201cOutside Meeting Date\u201d) and (C) either (1) the Special Meeting is not held on or prior to the ninetieth (90th) Business Day following receipt of the Special Meeting Notice or (2) at the Special Meeting at which a quorum is present, the holders of a majority of the shares of Common Shares outstanding as of the record date for the Special Meeting selected by the Board of Directors (excluding shares of Common Shares beneficially owned by the Person making the Qualified Offer and such Person\u2019s Affiliates and Associates), shall vote in favor of the Redemption Resolution, then all of the Rights shall be deemed redeemed at the Redemption Price by such failure to hold the Special Meeting or as a result of the adoption of the Redemption Resolution by the shareholders of the Company (or the Board of Directors shall take such other action as may be necessary to prevent the existence of the Rights from interfering with the consummation of the Qualified Offer), such redemption to be effective, as the case may be, (x) as of the close of business on the Outside Meeting Date if a Special Meeting is not held on or prior to such date or (y) if a Special Meeting is held on or prior to the Outside Meeting Date, as of the date on which the results of the vote adopting the Redemption Resolution at the Special Meeting are certified as official by the appointed inspectors of election for the Special Meeting.", "size": 3, "snippet_links": [{"key": "a-qualified", "type": "clause", "offset": [24, 35]}, {"key": "outstanding-rights", "type": "clause", "offset": [90, 108]}, {"key": "agreement-or", "type": "definition", "offset": [155, 167]}, {"key": "special-meeting-of-shareholders", "type": "clause", "offset": [177, 208]}, 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[4528, 4547]}, {"key": "close-of-business", "type": "clause", "offset": [4633, 4650]}, {"key": "results-of-the", "type": "clause", "offset": [4842, 4856]}, {"key": "inspectors-of-election", "type": "clause", "offset": [4963, 4985]}], "samples": [{"hash": "aQP1R75CZHF", "uri": "/contracts/aQP1R75CZHF#qualified-offer", "label": "Rights Agreement (Asyst Technologies Inc)", "score": 21.0, "published": true}], "hash": "5118786b3b96917e82a2a59e63308815", "id": 3}, {"snippet": "Notwithstanding anything to the contrary contained in Section 3.1, the Investor, Parent or any member of the Investor Group may make a Qualified Offer in accordance with the following procedure:\n(a) In connection with any Qualified Offer, the Investor shall deliver the Qualified Offer in writing to the Company. In the event that the Company does not accept such Qualified Offer in writing within thirty (30) days after receipt, such offer shall be deemed withdrawn and the Company shall promptly commence an Auction in which the Investor, Parent and the Investor Group will be given a full and fair opportunity, as conclusively determined by the Board in good faith, to participate on terms, and to have any bid submitted by the Investor, Parent or any member of the Investor Group in such Auction evaluated on a basis, no less and no more favorable to the Investor than those afforded to other Auction participants.\n(b) Any Auction shall be subject to the following provisions:\n(i) The Auction shall be completed within 90 days after the Company receives the Qualified Offer and the corresponding sale shall close within 90 days after completion of the Auction.\n(ii) In the event that (A) the Investor Group is not the successful bidder in an Auction conducted pursuant to Section 3.4(a) or does not elect to participate in the Auction, and (B) the Company has received a fairness opinion from a nationally-recognized investment banking firm, which is selected by the Company and reasonably acceptable to the Investor, to the effect that the successful bidder's transaction provides the Company or its stockholders, as the case may be, with the highest value of all of the bids received in the Auction, then the Investor and Parent shall, and each of them shall cause the Investor Group to, vote all of their Voting Securities in favor of the successful bidder's transaction (provided that this agreement to vote in favor of such transaction does not waive any other rights that any member of the Investor Group may have under Delaware law, other than dissenter's rights), tender their shares (in the event of a tender or exchange offer), and otherwise reasonably cooperate in consummating the transaction.\n(iii) The Company, the Investor and Parent agree that the purchase price per share set forth in the Qualified Offer is highly confidential and, as such, the Company on the one hand and the Investor, Parent and the Investor Group, on the other, shall not, to the extent legally permissible, disclose such purchase price per share to any third party without the prior written consent of the other party.\n(c) To the extent that the consideration in a Qualified Offer or in any competing bid in an Auction is securities, the value of any securities offered shall equal the average Market Price per share or per unit of such securities during the 30 consecutive trading days immediately preceding the Company's receipt of the Qualified Offer or the receipt of the bid by the Company, respectively. In the case of any securities not theretofore traded, the value of such securities shall be determined by a nationally recognized investment banking firm selected by the Company and reasonably acceptable to the Investor. The Investor and the Company shall use their reasonable best efforts to cause any such determination of value to be made within five (5) business days following the Company's receipt of a Qualified Offer or a bid, as the case may be.", "size": 3, "snippet_links": [{"key": "contained-in", "type": "definition", "offset": [41, 53]}, {"key": "section-31", "type": "definition", "offset": [54, 65]}, {"key": "member-of-the", "type": "clause", "offset": [95, 108]}, {"key": "investor-group", "type": "definition", "offset": [109, 123]}, {"key": "a-qualified", "type": "clause", "offset": [133, 144]}, {"key": "in-accordance-with", "type": "clause", "offset": [151, 169]}, {"key": "in-connection-with", "type": "clause", "offset": [199, 217]}, {"key": "the-qualified", "type": "clause", "offset": [266, 279]}, {"key": "in-writing", "type": "clause", "offset": [286, 296]}, {"key": "to-the-company", "type": "clause", "offset": [297, 311]}, {"key": "within-thirty", "type": "clause", "offset": [391, 404]}, 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"published": true}, {"hash": "46GyX8z2Pu2", "uri": "/contracts/46GyX8z2Pu2#qualified-offer", "label": "Investor Rights Agreement (Arris Group Inc)", "score": 18.0, "published": true}], "hash": "7c1075efebb467cb53365b5aa432dff1", "id": 1}, {"snippet": "If a Qualified Offer is initiated and if an --------------- Intervening Offer is not then outstanding, each Stockholder shall be subject to the following obligations:", "size": 3, "snippet_links": [{"key": "a-qualified", "type": "clause", "offset": [3, 14]}, {"key": "subject-to-the", "type": "definition", "offset": [129, 143]}], "samples": [{"hash": "fbVxfE39kDr", "uri": "/contracts/fbVxfE39kDr#qualified-offer", "label": "Stockholders' Agreement (Abbott George)", "score": 16.0, "published": true}, {"hash": "57TXEDqs5l6", "uri": "/contracts/57TXEDqs5l6#qualified-offer", "label": "Stockholders' Agreement (Earthlink Network Inc)", "score": 16.0, "published": true}, {"hash": "2nywIruS8nP", "uri": "/contracts/2nywIruS8nP#qualified-offer", "label": "Stockholders' Agreement (Sprint Corp)", "score": 16.0, "published": true}], "hash": "e55dc690dc0266b47cd4a4e97b34ed9f", "id": 2}, {"snippet": "Section 1 of the Rights Agreement is hereby amended by inserting the following paragraph immediately following paragraph (u) and by amending all subsequent paragraph references in Section 1 of the Rights Agreement as needed to reflect an appropriate alphabetical ordering of paragraphs within said Section 1:", "size": 1, "snippet_links": [{"key": "section-1", "type": "definition", "offset": [0, 9]}, {"key": "the-rights-agreement", "type": "clause", "offset": [13, 33]}, {"key": "references-in", "type": "clause", "offset": [166, 179]}, {"key": "as-needed", "type": "definition", "offset": [214, 223]}, {"key": "an-appropriate", "type": "clause", "offset": [235, 249]}], "samples": [{"hash": "84LqoX3jPYK", "uri": "/contracts/84LqoX3jPYK#qualified-offer", "label": "Section 382 Rights Agreement (Beazer Homes Usa Inc)", "score": 21.9336071014, "published": true}], "hash": "1377d0982e7bdc0033f0f2c827c569b4", "id": 4}, {"snippet": "For the purposes of this Agreement, a \u201cQualified Offer\u201d shall mean an all-cash offer for all of the outstanding Common Shares not beneficially owned by the Person making such offer that, as of the date on which such offer is commenced (for purposes of this definition, the \u201cdate on which such offer is commenced\u201d shall be determined in accordance with Rule 14d-2(a) promulgated under the Exchange Act) and immediately prior to the consummation of such offer, meets all of the following requirements:", "size": 1, "snippet_links": [{"key": "for-the-purposes-of-this-agreement", "type": "clause", "offset": [0, 34]}, {"key": "cash-offer", "type": "clause", "offset": [74, 84]}, {"key": "outstanding-common-shares", "type": "clause", "offset": [100, 125]}, {"key": "owned-by", "type": "definition", "offset": [143, 151]}, {"key": "for-purposes-of-this-definition", "type": "clause", "offset": [236, 267]}, {"key": "in-accordance-with", "type": "clause", "offset": [333, 351]}, {"key": "the-exchange-act", "type": "definition", "offset": [384, 400]}, {"key": "prior-to-the", "type": "clause", "offset": [418, 430]}, {"key": "consummation-of", "type": "clause", "offset": [431, 446]}], "samples": [{"hash": "3N9P5KHdKyD", "uri": "/contracts/3N9P5KHdKyD#qualified-offer", "label": "Rights Agreement (Ameron International Corp)", "score": 21.0, "published": true}], "hash": "5c7fb8c9bfd2b0918fba1a362e8e3243", "id": 5}, {"snippet": "7.3(c) Remediation Standard.......................................... 12.6(f) Retention Agreements.......................................... 7.3(g) Seller Claims................................................. 12.3(a) Straddle Period............................................... 11.3 Survival Date................................................. 12.1(a) Third Party Claim............................................. 12.5(a) Third Party Indemnities....................................... 7.10", "size": 1, "snippet_links": [{"key": "remediation-standard", "type": "definition", "offset": [7, 27]}, {"key": "retention-agreements", "type": "clause", "offset": [78, 98]}, {"key": "seller-claims", "type": "definition", "offset": [148, 161]}, {"key": "straddle-period", "type": "definition", "offset": [219, 234]}, {"key": "survival-date", "type": "clause", "offset": [287, 300]}, {"key": "third-party-claim", "type": "definition", "offset": [358, 375]}, {"key": "third-party-indemnities", "type": "clause", "offset": [429, 452]}], "samples": [{"hash": "lQI7hkoVRF9", "uri": "/contracts/lQI7hkoVRF9#qualified-offer", "label": "Purchase Agreement (Equitable Resources Inc /Pa/)", "score": 18.0, "published": true}], "hash": "606e330525c3760fb196fb03c5c09357", "id": 6}, {"snippet": "In order to ensure that the Amended Rights Agreement does not discourage prospective acquirors from making offers to acquire the Company that may be in the best interests of stockholders, the Amended Rights Agreement contains a provision to address the possible receipt of an offer that may be deemed to be a Qualified Offer (as hereinafter defined). A Qualified Offer, in summary terms, is an offer determined by a majority of the independent members of the Company\u2019s Board to have the following characteristics, among others, which are generally intended to preclude offers that are coercive, abusive or highly contingent: \u2022 is a fully financed all-cash tender offer or an exchange offer offering shares of common stock of the offeror, or a combination thereof, for any and all of the outstanding shares of Common Stock (whether such shares are outstanding at the commencement of the offer or become outstanding thereafter upon the exercise or conversion of options or other securities that are outstanding at the commencement of the offer); \u2022 is an offer that has been commenced and is made by an offeror (including Related Persons thereof) that beneficially owns no more than 10% of the outstanding shares of Common Stock as of the date of such commencement; \u2022 is an offer whose per share offer price is greater than the higher of (a) the highest reported per share market price for shares of the Common Stock during the 24 months immediately preceding the commencement of the offer, (b) the highest price per share of the Common Stock paid by the Person making the offer (or any Related Persons thereof) during the 24 months immediately preceding the commencement of the offer, (c) an amount that is 25% higher than the average of the daily per share closing prices for the Common Stock during the immediately preceding 12 months (determined as of the trading day immediately preceding the commencement of such offer), (d) an amount that is 25% higher than the closing price per share of the Common Stock (determined as of the trading day immediately preceding the commencement of such offer); and (e) if, at the time any offer is commenced, any other offer that is a Qualified Offer has been commenced and remains open, the per share price with respect to such earlier Qualified Offer; \u2022 is an offer that, within 20 business days after the commencement date of the offer (or within 10 business days after any increase in the offer consideration), does not result in a nationally recognized investment banking firm retained by the Board rendering an opinion to the Board that the consideration being offered to the holders of the Common Stock is either inadequate or unfair; \u2022 is an offer that is subject only to the minimum tender condition described below and other customary terms and conditions, which conditions shall not include any financing, funding or similar condition or any requirements with respect to the offeror or its agents or any other Person being permitted any due diligence with respect to the books, records, management, accountants and other outside advisors of the Company; \u2022 is an offer pursuant to which the Company has received an irrevocable written commitment of the offeror that the offer will remain open for at least 120 business days and, if a special meeting is duly requested by stockholders in accordance with the terms of the Amended Rights Agreement, for at least 10 business days after the date of the special meeting or, if no special meeting is held within 90 business days following receipt of the special meeting notice in accordance with the Amended Rights Agreement, for at least 10 business days following such 90 business day period; \u2022 an offer that is conditioned on a minimum of at least two-thirds of the outstanding shares of Common Stock not held by the Person making such offer (and such Person\u2019s Related Persons) being tendered and not withdrawn as of the offer\u2019s expiration date, which condition shall not be waivable; \u2022 an offer pursuant to which the Company has received an irrevocable written commitment by the offeror to consummate as promptly as practicable upon successful completion of the offer a second-step transaction whereby all shares of the Common Stock not tendered into the offer will be acquired at the same consideration per share actually paid pursuant to the offer, subject to statutory appraisal rights, if any; \u2022 a offer pursuant to which the Company has received an irrevocable, legally binding written commitment of the offeror that no amendments will be made to the offer to reduce the consideration being offered or to otherwise change the terms of the offer in a way that is adverse to a tendering stockholder (other than extensions of the offer consistent with the terms thereof); and \u2022 an offer that is otherwise in the best interests of the Company and its stockholders. As discussed in the Amended Rights Agreement, additional requirements apply to offers not consisting solely of cash consideration. Notwithstanding the inclusion of a Qualified Offer provision in the Amended Rights Agreement, the Board reserves the right to reject any Qualified Offer or any other tender or exchange offer or other acquisition proposal, or take any other action with respect to any Qualified Offer or any tender or exchange offer or other acquisition proposal that the Board believes is necessary or appropriate in the exercise of its fiduciary duties.", "size": 1, "snippet_links": [{"key": "in-order-to-ensure", "type": "clause", "offset": [0, 18]}, {"key": "amended-rights-agreement", "type": "clause", "offset": [28, 52]}, {"key": "to-acquire", "type": "definition", "offset": [114, 124]}, {"key": "best-interests", "type": "definition", "offset": [156, 170]}, {"key": "receipt-of", "type": "clause", "offset": [262, 272]}, {"key": "a-qualified", "type": "clause", "offset": [307, 318]}, {"key": "in-summary", "type": "clause", "offset": [370, 380]}, {"key": "a-majority", "type": "definition", "offset": [414, 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{"key": "investment-banking-firm", "type": "clause", "offset": [2496, 2519]}, {"key": "by-the-board", "type": "clause", "offset": [2529, 2541]}, {"key": "an-opinion", "type": "clause", "offset": [2552, 2562]}, {"key": "the-consideration", "type": "clause", "offset": [2581, 2598]}, {"key": "holders-of", "type": "clause", "offset": [2620, 2630]}, {"key": "subject-only", "type": "definition", "offset": [2702, 2714]}, {"key": "minimum-tender-condition", "type": "clause", "offset": [2722, 2746]}, {"key": "terms-and-conditions", "type": "clause", "offset": [2783, 2803]}, {"key": "any-other-person", "type": "definition", "offset": [2949, 2965]}, {"key": "due-diligence", "type": "clause", "offset": [2986, 2999]}, {"key": "outside-advisors", "type": "clause", "offset": [3070, 3086]}, {"key": "the-company-has", "type": "clause", "offset": [3135, 3150]}, {"key": "commitment-of-the", "type": "clause", "offset": [3183, 3200]}, {"key": "a-special-meeting", "type": "clause", "offset": [3280, 3297]}, {"key": "by-stockholders", "type": "clause", "offset": [3316, 3331]}, {"key": "in-accordance-with", "type": "clause", "offset": [3332, 3350]}, {"key": "the-terms", "type": "definition", "offset": [3351, 3360]}, {"key": "the-special-meeting", "type": "clause", "offset": [3442, 3461]}, {"key": "special-meeting-notice", "type": "definition", "offset": [3545, 3567]}, {"key": "business-day-period", "type": "definition", "offset": [3665, 3684]}, {"key": "not-held", "type": "definition", "offset": [3795, 3803]}, {"key": "expiration-date", "type": "definition", "offset": [3923, 3938]}, {"key": "completion-of-the-offer", "type": "definition", "offset": [4139, 4162]}, {"key": "all-shares", "type": "clause", "offset": [4197, 4207]}, {"key": "consideration-per-share", "type": "definition", "offset": [4285, 4308]}, {"key": "actually-paid", "type": "definition", "offset": [4309, 4322]}, {"key": "pursuant-to-the", "type": "definition", "offset": [4323, 4338]}, {"key": "subject-to", "type": "clause", "offset": [4346, 4356]}, {"key": "appraisal-rights", "type": "clause", "offset": [4367, 4383]}, {"key": "legally-binding", "type": "clause", "offset": [4462, 4477]}, {"key": "no-amendments", "type": "clause", "offset": [4517, 4530]}, {"key": "terms-of-the-offer", "type": "clause", "offset": [4626, 4644]}, {"key": "tendering-stockholder", "type": "definition", "offset": [4675, 4696]}, {"key": "extensions-of-the-offer", "type": "clause", "offset": [4709, 4732]}, {"key": "consistent-with-the", "type": "clause", "offset": [4733, 4752]}, {"key": "interests-of-the-company", "type": "clause", "offset": [4814, 4838]}, {"key": "additional-requirements", "type": "definition", "offset": [4907, 4930]}, {"key": "cash-consideration", "type": "clause", "offset": [4972, 4990]}, {"key": "notwithstanding-the", "type": "definition", "offset": [4992, 5011]}, {"key": "inclusion-of-a", "type": "clause", "offset": [5012, 5026]}, {"key": "right-to-reject", "type": "clause", "offset": [5109, 5124]}, {"key": "tender-or-exchange-offer", "type": "clause", "offset": [5158, 5182]}, {"key": "acquisition-proposal", "type": "definition", "offset": [5192, 5212]}, {"key": "other-action", "type": "definition", "offset": [5226, 5238]}, {"key": "exercise-of", "type": "clause", "offset": [5396, 5407]}, {"key": "fiduciary-duties", "type": "definition", "offset": [5412, 5428]}], "samples": [{"hash": "1Upne19Gie2", "uri": "/contracts/1Upne19Gie2#qualified-offer", "label": "Rights Agreement (Providence Service Corp)", "score": 22.9356613159, "published": true}], "hash": "3f63c2780759c1c39e312bd71087d28c", "id": 7}, {"snippet": "A \u201cQualified Offer\u201d means a legally enforceable arms' length written offer received by a Shareholder to purchase the Shareholder's Shares from a person who is financially capable of carrying out the terms of the written offer and who satisfies all of the then existing ownership requirements with respect to the stock of a corporation that has in effect an election to be taxed in accordance with the provisions of Subchapter S of the Code, provided, however, that either (i) the number of Shareholders of the Company does not increase as a result of any transfer of Shares if such offer were to be accepted, or (ii) the Board of Directors (by the affirmative vote of 66-2/3% of the directors then holding office) approves the transfer.", "size": 1, "snippet_links": [{"key": "legally-enforceable", "type": "definition", "offset": [28, 47]}, {"key": "written-offer", "type": "clause", "offset": [61, 74]}, {"key": "received-by", "type": "definition", "offset": [75, 86]}, {"key": "a-shareholder", "type": "definition", "offset": [87, 100]}, {"key": "the-shareholder", "type": "clause", "offset": [113, 128]}, {"key": "a-person", "type": "definition", "offset": [143, 151]}, {"key": "capable-of", "type": "definition", "offset": [171, 181]}, {"key": "terms-of-the", "type": "clause", "offset": [199, 211]}, {"key": "ownership-requirements", "type": "definition", "offset": [269, 291]}, {"key": "with-respect-to", "type": "clause", "offset": [292, 307]}, {"key": "the-stock", "type": "clause", "offset": [308, 317]}, {"key": "a-corporation", "type": "clause", "offset": [321, 334]}, {"key": "in-effect", "type": "clause", "offset": [344, 353]}, {"key": "an-election", "type": "clause", "offset": [354, 365]}, {"key": "in-accordance-with", "type": "clause", "offset": [378, 396]}, {"key": "the-provisions-of", "type": "clause", "offset": [397, 414]}, {"key": "subchapter-s", "type": "definition", "offset": [415, 427]}, {"key": "the-code", "type": "clause", "offset": [431, 439]}, {"key": "shareholders-of-the-company", "type": "clause", "offset": [490, 517]}, {"key": "transfer-of-shares", "type": "definition", "offset": [555, 573]}, {"key": "the-board-of-directors", "type": "definition", "offset": [617, 639]}, {"key": "affirmative-vote", "type": "clause", "offset": [648, 664]}, {"key": "the-directors", "type": "clause", "offset": [679, 692]}, {"key": "the-transfer", "type": "clause", "offset": [723, 735]}], "samples": [{"hash": "3qsHznItXeM", "uri": "/contracts/3qsHznItXeM#qualified-offer", "label": "Shareholder Agreement", "score": 35.0728141606, "published": true}], "hash": "941ada2838b9940bdc4e3ff71cfacb94", "id": 8}, {"snippet": "Under certain circumstances as provided in the Charter Amendment, subject to stockholder approval thereof, if the Company does not consummate a Business Combination prior to the Termination Date, it is required to thereafter dissolve and liquidate. In the event that a letter of intent, agreement in principle or a definitive agreement to complete a Business Combination has not then been entered into by the Company, the Investor and/or its affiliates may, in connection with the provisions of Section 4C of the Charter Amendment, determine to commence a Qualified Offer no earlier than one hundred and twenty (120) days and no later than sixty (60) days prior to the Termination Date (such period, the \u201cRight to Offer Period\u201d) by offering to purchase all of the outstanding shares of the Company\u2019s common stock that they do not already own at a per share price determined by dividing the Liquidation Value by the total number of shares of Common Stock outstanding on a fully-diluted basis (calculated on a treasury basis). The Liquidation Value shall be determined in accordance with Sections 5.06(b) and 5.06(c). During any time in which Investor shall be permitted to make an offer under this Section 5.06(a), the Company shall make available to the Investor such information regarding the business, properties, assets, condition (financial or otherwise) and results of operations of the Company reasonably requested by the Investor. Any offer by the Investor under Section 5.06(a) shall not be a Qualified Offer if it is subject to any financing or due diligence contingency or subject to any conditions other than conditions that are reasonable and customary for similar transactions, and shall comply with all applicable laws and regulations; provided, however, that notwithstanding the foregoing, such offer shall nonetheless constitute a Qualified Offer if all such contingencies or conditions (other than conditions that are reasonable and customary for similar transactions) are thereafter satisfied or waived.", "size": 1, "snippet_links": [{"key": "certain-circumstances", "type": "clause", "offset": [6, 27]}, {"key": "the-charter-amendment", "type": "clause", "offset": [43, 64]}, {"key": "subject-to", "type": "clause", "offset": [66, 76]}, {"key": "stockholder-approval", "type": "definition", "offset": [77, 97]}, {"key": "business-combination", "type": "definition", "offset": [144, 164]}, {"key": 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[{"hash": "a2QUPpMIPcl", "uri": "/contracts/a2QUPpMIPcl#qualified-offer", "label": "Rights Agreement (May Department Stores Co)", "score": 18.0, "published": true}], "hash": "7c638c87b05a7925bb7531a75c85f659", "id": 10}], "next_curs": "ClgSUmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjQLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhhxdWFsaWZpZWQtb2ZmZXIjMDAwMDAwMGEMogECZW4YACAA", "clause": {"title": "Qualified Offer", "children": [["tender-offers", "Tender Offers"], ["other-offers", "Other Offers"]], "size": 17, "parents": [["whereas", "WHEREAS"], ["obligations-to-tender-or-vote", "Obligations to Tender or Vote"], ["redemption", "Redemption"], ["certain-defined-terms", "Certain Defined Terms"], ["definitions", "Definitions"]], "id": "qualified-offer", "related": [["offer-notice", "Offer Notice", "Offer Notice"], ["change-of-control-offer", "Change of Control Offer", "Change of Control Offer"], ["the-tender-offer", "The Tender Offer", "The Tender Offer"], ["offer", "Offer", "Offer"], ["grant-offer", "Grant Offer", "Grant Offer"]], "related_snippets": [], "updated": "2025-07-24T06:49:08+00:00", "also_ask": ["What are the essential elements that must be included in a qualified offer to ensure enforceability?", "How can a qualified offer be strategically used to shift litigation costs or pressure settlement?", "What are the most common pitfalls or fatal flaws that could invalidate a qualified offer?", "How do qualified offer provisions differ across key jurisdictions or under different procedural rules?", "What standards do courts apply to determine if an offer truly qualifies as a 'qualified offer'?"], "drafting_tip": "Define 'Qualified Offer' precisely to avoid ambiguity; specify objective criteria to ensure enforceability; require written form to provide clear evidence.", "explanation": "A Qualified Offer clause defines the specific terms and conditions under which an offer is considered valid and capable of acceptance in a contractual context. Typically, this clause outlines requirements such as the form of the offer, the timeframe for acceptance, and any necessary supporting documentation or qualifications that must be met. For example, it may stipulate that only written offers submitted within a certain period and meeting predefined criteria will be recognized. The core function of this clause is to ensure clarity and certainty in the offer and acceptance process, reducing the risk of disputes over what constitutes a legitimate offer."}, "json": true, "cursor": ""}}