Counterbid definition
Counterbid means a bid submitted by an Entity to consummate a Sale Transaction in accordance with the material terms of the Asset Purchase Agreement at a cash offer price in excess of $40,250,000 received on or before the Counterbid Deadline.
Examples of Counterbid in a sentence
Any Offer Notification shall be made in accordance with all applicable Laws and the parties hereto acknowledge and agree that, notwithstanding any provision to the contrary contained herein except as provided in Section 6.12(c), the Principal Company Shareholders shall not be prohibited from accepting a valid Counterbid (for purposes of this Agreement, such term shall have the meaning ascribed to it in the Company Shareholders Agreement) in accordance with the Company Shareholders Agreement.