Common use of Target's Statement Clause in Contracts

Target's Statement. (a) Target must prepare the Target’s Statement in response to the Bidder’s Statement in accordance with the Corporations Act and which includes a unanimous recommendation from Target Directors to Target Shareholders to accept the Offer in respect of all their Target Shares, in the absence of a Superior Proposal or the Independent Expert concluding that the Offer is not fair and reasonable. (b) Target will give Bidder a reasonable opportunity to review an advanced draft of the Target’s Statement at least 5 Business Days before the Target is required to lodge the Target’s Statement with ASIC, will consider in good faith any comments Bidder may have and that are furnished to Target in writing within 3 Business Days after Target furnished such advanced draft of the Target’s Statement.