Maximum Offer Amount definition
Examples of Maximum Offer Amount in a sentence
The Purchaser may increase the Maximum Offer Amount at any time, and from time to time, prior to the fifth Business Day after the Administrative Agent has initially determined the Clearing Price (as defined below).
In the event that the aggregate principal amount of Term Loans for which validly tendered Sale Offers have been received exceeds the relevant Maximum Offer Amount, the Purchaser will purchase all Term Loans tendered (i) below the Threshold Price, without proration at the applicable Bid Price and (ii) at the Threshold Price, on a pro rata basis up to the Maximum Offer Amount at the Threshold Price.
The Administrative Agent, in consultation with the Purchaser, will select the lowest purchase price for each Purchase Offer of Term Loans denominated in a single currency (the “Threshold Price”), that will allow the Purchaser to purchase the Maximum Offer Amount for such Term Loans.
If the Purchaser so elects, the Administrative Agent, in consultation with the Purchaser, shall redetermine the Clearing Price based on such increased Maximum Offer Amount.
In the event that the aggregate principal amount of Term Loans for which validly tendered Sale Offers (defined below) have been received is equal to or less than the relevant Maximum Offer Amount, the Purchaser will purchase all Term Loans validly tendered (without proration) at the respective applicable Bid Price (defined below) for each tendering Lender (each a “Participating Lender” and collectively the “Participating Lenders”).
The Purchaser will not have any obligation to purchase any Term Loans outside of the range specified by the applicable Borrower(s) in the Offer Document nor will any such Sale Offers (as defined below) tendered outside such range be considered in any calculation of the Threshold Price or satisfaction of the Maximum Offer Amount.
In the event no Lenders have validly tendered any Term Loans following the Purchase Offer or as otherwise agreed to by the Administrative Agent, the Purchaser reserves the right at any time prior to the Expiration Time (as may be extended by the Purchaser by three business days) to amend the Purchase Offer to increase the Maximum Offer Amount or the Maximum Purchase Price for all Lenders.
Any Holder that does not deliver a Mandatory Offer Response within ten (10) Business Days of receipt of the Confirmation Request will be deemed to have elected to participate in the relevant Mandatory Offer with a Maximum Offer Amount equal to the relevant Mandatory Offer Amount.
The Purchaser will select the lowest purchase price, which is referred to herein as the Clearing Price, that will allow the Purchaser to purchase the Maximum Offer Amount (or such lesser amount of Term Loans for which the Purchaser received the aggregate Sale Offers).
The Buyer may subscribe for all or a portion of its Maximum Offer Amount on or prior to the 30th day following the date of sale of the Offered Securities to the initial purchasers.